Weekly Economic & Financial Commentary: Signs of a Slowdown Begin to Emerge
Summary United States: Signs of a Slowdown Begin to Emerge April brought a steep 16.6% decline in new home sales and a 3.9% drop in pending home sales, the latest signs the housing market is cooling down amid sharply higher...
The Weekly Bottom Line: Bank of Canada Still on Track for Rate Hike
U.S. Highlights The second estimate of U.S. GDP growth confirmed that the economy contracted in the first quarter of the year, pulling back by 1.5% relative to the 1.4% reported previously. The housing market continued to show signs of buyer...
Stocks making the biggest moves midday: Ulta Beauty, Big Lots, Autodesk, Workday and more
Ulta Beauty store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading Friday. Ulta Beauty — The beauty retailer surged 12.5% following better-than-expected quarterly earnings and revenue. Ulta Beauty also shared a better-than-expected outlook for the...
Week Ahead – Nonfarm Payrolls on Tap, Has the Dollar Topped?
The latest US employment report will be in the spotlight next week for any signs that recession worries have started to impact hiring. The dollar has lost some of its power lately and this dataset could determine whether we are...
WTI Futures Extend Advance as Positive Momentum Strengthens
WTI oil futures (July delivery) have been in a sustained uptrend since the 92.60 region rejected any further dip, generating a profound structure of higher highs and higher lows. Moreover, the ascending 50- and 200-day simple moving averages (SMAs) endorse...
GBPJPY Rangebound after Decline Halts
GBPJPY has experienced a sharp decline after peaking at the six-year high of 168.41 in early April. However, the pair has managed to find its feet and is currently trading sideways, while near-term risks seem to be tilted to the...
USDJPY’s Retracement Opposed by Soaring 50-day SMA
USDJPY is trading around the lower Bollinger band residing within a support zone which is linking the 127.34 barrier with the rising 50-day simple moving average (SMA) at 126.25, the former being the 23.6% Fibonacci retracement of the uptrend from...
Elliott Wave Analysis: EUR/USD Has Room for Higher Prices
The USD is moving lower across the board as gap between FED and other CB is narrowing. We see more and more ECB members and speculation for a potential 50bp hike which is the main reason for stronger euro these...
NZDUSD Increases above 0.6500 in Short-term Bounce
NZDUSD is ticking higher above 0.6500 again after the bounce off the two-year low of 0.6214. The technical indicators are showing more positive signs, as the MACD is advancing above its trigger line in the negative region, while the RSI is...
Oil Possibly Locked in the $100-130 Range for Years
Crude oil has added for the fourth consecutive trading session. However, the rise in quotes has been tempered by comments from the German economy minister, claiming that the EU could agree on an embargo on Russian oil within days. However,...