Dollar Stronger on ADP, Falling Stocks and Rising Yields, Euro Tumbles
The markets are back on risk-off mode again today, while major global treasury yields trade higher. Stronger than expected ADP job data provides little support to over sentiment. Yen is leading the way higher, followed by Dollar and Swiss Franc....
Stocks making the biggest moves premarket: Constellation Brands, Palantir, Norwegian Cruise and others
Check out the companies making headlines before the bell: Constellation Brands (STZ) – The maker of beer and wine reported adjusted quarterly earnings of $2.38 per share, missing the $2.77 consensus estimate, although revenue did beat Wall Street forecasts and...
Roaring Dollar Turns To Nonfarm Payrolls
The US employment report for September will hit the markets at 12:30 GMT Friday. It will single-handedly decide whether the Fed pushes the taper button next month. As for the dollar, it has sliced through its rivals lately as investors...
As mortgage rates shoot even higher, refinance demand plummets 10%
A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand. Total application volume fell nearly 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted...
NZDUSD Gains Non-Existent Despite 25bps Rate Hike
NZDUSD appears to have failed to capitalise on the 25bps rate hike to 0.50% out of the Reserve Bank of New Zealand (RBNZ), which was delivered in the Asian trading session. The pair is dropping towards the 0.6875 level, that...
GBP/USD Outlook: Risk Aversion And UK Data Miss Push Sterling Lower After Four-Day Rally
Fresh risk aversion, combined with weaker than expected UK data, pushed sterling nearly 0.5% down in European trading on Wednesday. Strong rebound in past four days lost steam at initial barrier at 1.3641 (Aug 20 low) and ahead of 1.3662...
RBNZ Hiked Policy Rate for First Time in 7 Years
For the first time in 7 years, the RBNZ increased the OCR by +25 bps to 0.5% in October. Policymakers pledged to tighten further in coming months as inflation pressure continues to exceed target. Policymakers remained hopeful about the economic...
USD/CAD Fails To Break 1.2560 Level
On Tuesday, the US Dollar edged lower by 65 pips or 0.51% against the Canadian Dollar. The decline was stopped by the support level at 1.2560 during Tuesday’s trading session. Given that the exchange rate fails to break the support...
Kiwi Down after RBNZ Rate Hike, Yen Softer on Rising Yields Again
New Zealand Dollar trades mildly lower together with commodity currencies in quiet Asian session. Overall markets are mixed as Japan and Hong Kong stocks head lower, decoupling from the strong rebound in the US overnight. Dollar appears to be supported...
Turbulent market is fueling a never-before-seen trend between energy and S&P 500, Bespoke’s Paul Hickey finds
An unprecedented trend appears to be underway between the booming energy sector and the turbulent stock market. Over the past ten trading days, the Bespoke Investment Group’s Paul Hickey finds energy has never performed this well while the S&P 500...
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