Powell notes economic improvement, but says the pandemic remains a risk
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020. Stefani Reynolds | Reuters Federal Reserve Chairman Jerome Powell said in testimony prepared for...
WTI Oil Outlook: Oil Prices Remain Well Supported by Expectations for Further Rise in Global Demand
WTI oil price kept a firm tone on Monday and probed above $72 per barrel, following last week’s pullback from new 26-month high ($74.93) which briefly dipped below psychological $70 support. Repeated failure to register close below rising 10DMA signaled...
Stocks Bounce Back, Bullard and Kaplan, Chicago Fed, Oil Rises, Gold Steady, Bitcoin Lower
Wall Street is still feeling the impact of the Fed’s hawkish tilt. US stocks are finding some footing as the growth outlook for the rest of the year is extremely robust, with growth targeting 8-10% and around 5% in 2022....
Dollar and Yen in Brief Retreat as Stocks and Yields Rebound
Dollar and Yen retreat as markets enter into US session. Stock markets are staging a mild rebound in Europe, while US futures also point to higher open. Treasury yields also recovered from earlier decline, with US 10-year yield back above...
Bitcoin drops as China intensifies crypto mining crackdown
A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016. Paul Ratje | The Washington Post | Getty Images Bitcoin sank Monday on reports that China has intensified its crackdown on cryptocurrency mining. The world’s largest digital currency fell...
Global Financial Markets Are Still Affected By Fed’s Forecasts
The US stock market closed in the red zone on Friday. The S&P 500 index decreased by 1.31%, the NASDAQ lost 0.94%, and the Dow Jones fell by 1.58%. Over the weekend, James Ballard, the head of St. Louis Federal...
Gold Elliott Wave Analysis
GOLD Trades lower with in bullish triangle. Above trendline support seems bullish. As per Elliott Wave analysis Gold (XAUUSD) is coming down quite sharply, but we still believe bulls are still here, so for now we are observing wave C...
Yen Surges on Falling Stocks and Yields, Dollar Takes a Breather
Yen rises broadly today as risk aversion is dominating the overall financial markets. In particular, US 10-year yield dives through 1.4 handle in Asia, and we’d see if the weakness would persist. Though, selling focus is turning from Aussie and...
EUR/USD Starts Fresh Slide, Dollar Turns Green
Key Highlights EUR/USD started a major decline after it broke the 1.2000 support. It traded below major supports near 1.2050 and 1.1950 on the 4-hours chart. GBP/USD also declined heavily below the 1.4000 support. Gold price traded below the $1,840...
Dollar Solidified Strong Near Term Rally, But Not in Long Term Reversal Yet
Dollar ended last week sharply higher as boosted by the surprisingly hawkish FOMC projections. Yen followed as second strongest on steep selloff in stocks, while Euro is a distant third. Commodity currencies were the worst performers, with Aussie leading the...
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