Australian Dollar Rebounds on Hawkish RBA
The Australian dollar is back in positive territory on Tuesday, after four straight losing sessions. In the North American session, AUD/USD is trading at 0.7384, up 0.51% on the day. RBA hints at an earlier rate hike The RBA sent...
European PMIs: Is a Recession Coming for the Euro?
The Eurozone economy is losing power. A recession has become a real possibility and the upcoming PMI business surveys on Friday will tell investors exactly how high that risk is. The French TV debate between Macron and Le Pen on...
PBoC Steps in as Chinese Economy Slows
Market movers today Today, the IMF releases its latest take on the global economy also known as the World Economic Outlook. We are looking forward to reading the IMF’s assessment of the impact of the Russian invasion, Western sanctions and...
GBP/USD Vulnerable to a Drop Below 1.3000
Key Highlights GBP/USD is struggling to clear the 1.3150 resistance zone. A crucial bearish trend line is forming with resistance near 1.3120 on the 4-hours chart. EUR/USD is still trading in a bearish zone below 1.0920. Gold price extended gains,...
Homebuilder sentiment drops for fourth straight month, as rising rates push housing to ‘an inflection point’
A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California. David Paul Morris | Bloomberg | Getty Images Sharply rising mortgage rates are taking their toll on the nation’s homebuilders,...
Market will break out of slump due to peaking inflation, Evercore ISI predicts
The market slump may be in its final innings. According to Evercore ISI’s Julian Emanuel, stocks should start grinding higher due to peaking inflation. He cites a positive trend going back to the last time stocks and bonds fell together:...