USOIL Drops To Daily Support
Oil prices plunge amid concerns over weaker demand and higher US inventories. The downtrend picked up steam after WTI fell below the double bottom at 65.20. Last May’s low at 61.70 is major support from the daily time frame. As...
AUD/JPY Sees Limited Bounce
The Australian dollar struggles as jobs data suggest fewer people looking for work amid lockdowns. The pair is heading towards 77.50 as momentum traders took over control of price action. The divergence between the 20 and 30-hour moving averages suggests...
USD, JPY and CHF in Range Against Each Other, AUD and CAD Heavy
Dollar, Swiss Franc and Yen are taking turns to be the strongest, with the greenback having a little upper hand. But they’re kept in range against each other. Commodity currencies remain the weakest, with Aussie additionally pressured by strict lockdowns,...
Oil’s Losing Streak, Gold Hangs On
Oil extends slide Oil prices are plunging closer to bear market territory on fears global crude demand forecasts for the remainder of the year will see drastic reductions. Visions of the US economy being fully reopened and with kids attending...
Charles Schwab to give most employees 5% raise for pandemic work
A pedestrian passes in front of a Charles Schwab Corp. bank branch in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Brokerage Charles Schwab is giving most of its employees a special 5% pay raise as record stock...
AUD/USD: Aussie Extends Steep Fall to the Lowest in Nine Months
The Australian dollar extends weakness into fourth straight day and fell to the lowest levels since early November 2020 on Thursday. Weaker equities on risk aversion and steep fall in iron ore prices weighed on risk-sensitive Aussie dollar, along with...
US 100 Index Slides, But Uptrend Still in Play
The US 100 index (Cash) took some fire in recent sessions, sliding from the record high of 15,182 before encountering some support near the 50-day moving average (MA) currently at 14,720 and subsequently rebounding a little. The decline in the...
Jobless claims hit new pandemic-era low in a sign of hope for the employment picture
First-time filings for unemployment insurance hit a pandemic-era low last week, a sign that the jobs market is improving heading into the fall despite worries over the delta Covid variant. Jobless claims for the week ended Aug. 14 totaled 348,000,...
Jittery Markets Post-Fed
It’s been a very strange start to trading on Thursday, with stock markets suffering heavy losses as the rotation into safety gathers significant pace following the release of the Fed minutes. It’s easy to point to the Fed minutes as...
Dollar, Yen and Franc in Three-Horse Race as Risk Aversion Intensifies
Selloff in commodity currencies intensifies today as risk sentiment turn sour again. Major European indexes are all in deep red while US futures point to lower open. Yen, Swiss Franc and Dollar are taking turns to be the strongest one...
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