GOLD Respects Resistance Of 1,810.00 Level
On Thursday, volatility was caused by the release of the US Advance GDP. During the volatility, the price for gold once again confirmed the 1,810.00 level as a resistance level. The following decline passed the 55 and 100-hour simple moving...
EUR/USD Outlook: Euro Loses Traction After Strong Post-ECB Rally, But Bulls Are Still In Play
The Euro eases from new one-month high, posted after Thursday’s post-ECB 0.7% advance (the biggest one-day rally since May 5). Traders reacted on ECB Lagarde’s less dovish than expected speech , while US GDP data miss added to positive sentiment....
GBPJPY Falters Around 158 Level But Upside Still Intact
GBPJPY is consolidating across the 156.00 mark that is the upper part of a support barrier moulded by the highs reached at the end of May until the later part of June. The simple moving averages are sponsoring the positive...
USDCAD Is On The Sidelines But Indicators Suggest Bullish Action
USDCAD has been moving sideways over the last few days, remaining above the 1.2285 support and below the simple moving averages (SMAs). Technically, the MACD oscillator is jumping above its trigger line, holding well below the zero level, while the...
Dollar and Yen Dropped Again on Risk On Markets
Dollar and Yen dropped sharply overnight on strong risk-on market, as NASDAQ finally caught up and made new record high. The greenback is additionally pressured by the delayed buying in Euro after ECB post-meeting press conference. For now, Canadian Dollar...
Alibaba is ramping up in Europe, and is already ahead of Amazon in one region
Employees pack crates with merchandise for orders at a Cainiao warehouse, the logistics subsidiary of Alibaba Group Holding, ahead of the company’s annual Singles’ Day shopping extravaganza in Wuxi, Jiangsu province, China, on Nov. 9, 2020. Qilai Shen | Bloomberg...
Pending home sales fell unexpectedly in September, likely due to higher mortgage rates
A pending sale sign in front of a home in Miami. Getty Images Pending home sales, which are a measure of signed contracts to buy existing homes, fell an unexpected 2.3% in September compared with August, according to the National...
US Q3 GDP Much Worse Than Q2. But Will It Continue?
The Advanced look at Q3 GDP for the US was only 2% vs 6.7% in Q2. And although economists expected the economy to slow to 2.7% due to supply chain issues and the Delta variant of the coronavirus, the headline...
ECB Downplayed Urgency of Rate Hike to Tame Inflation
ECB’s meeting came in largely as we had anticipated. Policymakers acknowledged the stronger-than-expected inflation but downplayed the need to push forward rate hike. All monetary policy measures remained intact with the main refi rate, the marginal lending rate and the...
Economic growth rate slows to 2% on a sharp slowdown in consumer spending
The U.S. economy grew at a 2% rate in the third quarter, its slowest gain of the pandemic-era recovery, as supply chain issues and a marked deceleration in consumer spending stunted the expansion, the Commerce Department reported Thursday. Gross domestic...
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