EURUSD Could Test 1.2330
The euro currency is once again on the rise against the US dollar, as traders continue to aggressively buy into price dips below the 1.2200 level. A bullish inverted head and shoulders pattern is close to forming across the lower...
GBP/USD Outlook: Bulls Pressure 1.42 Barrier After Upbeat Retail Sales, PMI Data In Focus
Cable jumped to 1.4200 zones after upbeat UK retail sales but failed to break higher, remaining within 1.41/1.42 range for the fourth straight day. Larger bulls remain supported but face headwinds on approach to 2021 high at 1.4238 (Feb 24)....
GBPJPY Rally Cools Near 39-Month High
GBPJPY is marking its fourth consecutive week in the green zone, though it is set to close with minimal gains as the resistance area around the 154.80 level has been a struggle this week. The sideways move in the RSI,...
SPX 500 Consolidates Above Key Support
US equity markets remain subdued as risk appetite takes a backseat. The S&P 500 has pierced through the 30-day moving average, adding pressure on the buy-side. The price action is again testing the demand area around 4040 after a short-...
Two Trades To Watch: WTI Crude Oil, EUR/GBP
WTI steadies after steep selloff, Baker Hughes rig count in focus WTI is consolidating losses as it trades at its lower level in around a month WTI saw a deep sell off across the week amid reports of progress in...
EU-China Controversies Halts Market Access Treaty
Market movers today Markit will release May Flash PMIs for both Euro Area and the US. Euro Area indices are expected to continue rising as restrictions have been eased further. Survey medians expect US figures to tick down slightly following...
Dollar Back Around Lows as Eurozone PMIs Eyed
The forex markets still generally range bound for the moment. Dollar weakened mildly overnight, but stays above near term lows against other major currencies. Similarly, Yen is also bounded in very tight range. US stocks’ rebound overnight was as positive...
Biden calls for crackdown on wealthy who hide bulk of income from tax
President Joe Biden delivers remarks at the Ford Rouge Electric Vehicle Center, in Dearborn, Michigan on May 18, 2021. Nicholas Kamm | AFP | Getty Images President Joe Biden is calling for a crackdown on rich taxpayers who avoid tax...
The Fed this summer will take another step in developing a digital currency
The Federal Reserve is moving forward in its efforts to develop its own digital currency, announcing Thursday it will release a research paper this summer that explores the move further. Though the central bank did not set any specific plans...
Central Banks Monetary Policy
Central Banks look at a variety of economic data and projections before setting policy. These datapoints are then applied to the central bank’s operating framework in order to determine if a policy change is needed. To actually set policy, central...
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