Euro Continues to Drift ahead of FOMC
The euro is almost unchanged in the Thursday session. In North American trade, EUR/USD is trading at 1.2166, up 0.05% on the day. After a sharp drop on Friday, the pair has been directionless. All eyes on FOMC What can...
Fed Meeting: No Taper Talk, But Mind the Dots
All eyes will be on the Fed when it concludes its meeting at 18:00 GMT Wednesday. It is probably too early for a discussion about an exit strategy from cheap money, but the famous ‘dot plot’ of interest rate forecasts...
Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher
Builder sentiment in June fell to its lowest level since August, as construction costs pushed new home prices higher, sidelining buyers and making it harder for some builders to get loans. The National Association of Home Builders/Wells Fargo Housing Market...
Dollar Surges on Record PPI, Sterling Tumbles
Dollar jumps in early US session after strong, record making, PPI inflation data. The worse than expected retail sales and manufacturing data were shrugged off. Yen and Euro are following as next strongest for now. Sterling continues to be weighed...
Stocks making the biggest moves in the premarket: Vroom, Ping Identity, Sage Therapeutics & more
Take a look at some of the biggest movers in the premarket: Vroom (VRM) – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a...
GBP/AUD 4H Chart: Tests Support Line
The British Pound has plunged by 1.30% against the Australian Dollar since the beginning of June. The currency pair tested the weekly support level at 1.8218 on June 10. All things being equal, the exchange rate could continue to edge...
US Dollar In Calm Waters
Currency markets consolidate after the US dollar rally Currency markets contented themselves with some consolidation after Friday’s impressive rally. Major currencies traded sideways with UK markets ignoring the extension of pandemic restrictions. The dollar index was almost unchanged at 90.50,...
Elliott Wave View: CAD/JPY Further Correction Lower Likely
Short Term Elliott Wave in CADJPY suggests the rally to 91.19 ended wave (3). Wave (4) pullback is currently in progress with internal subdivision as a zigzag Elliott Wave structure. A zigzag structure is a 3 waves corrective structure labelled...
Yen Crosses Rebound as NASDAQ and S&P 500 Made New Records
Yen trades broadly overnight on strong risk appetite, with NASDAQ and S&P 500 closing at new record highs. And it remains generally soft in Asian session. Some selling in seen in Australian Dollar after RBA minutes, but loss is very...
RBA Minutes Reveal Members Discussed Three Options to Extend QE
The RBA minutes for the June meeting indicated that the member turned more optimistic about economic recovery. Yet, they remained concerned about soft inflation and wage growth. Accommodative monetary policy would stay in place for the years ahead. at the...
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