EURJPY’s Ascent Slows, and Neutral Tone Strengthens
EURJPY is struggling to extend its latest rally, which began around 127.50, beyond the December 16 high of 129.63. The converging simple moving averages (SMAs) are hinting that a more neutral price development may evolve confined now between a lower...
Canadian GDP Rebounded in October and November ahead of Omicron
GDP grew 0.8% in October, backed by a bounce-back in goods-producing industries. Preliminary estimate that output grew another 0.3% in November, despite significant disruptions from flooding in BC. Omicron threat and re-imposed containment measures adding downside risk near-term, but impact...
Stocks Point Higher as Omicron Fears Ease, Inflation Rises
Stocks head higher on upbeat Omicron news. US PCE Index rises to 5.7%. US futures Dow futures +0.34% at 35870 S&P futures +0.35% at 4710 Nasdaq futures +0.25% at 16291 In Europe FTSE +0.45% at 7352 Dax +0.8% at 15692...
Stocks March Higher as Omicron Jitters Subside
Dollar gains traction after PCE release; Safe havens plummet Despite its weakness early in the session, the stronger-than-expected PCE inflation print enabled the greenback to pare a significant part of its losses. Specifically, the US annual Core PCE inflation rose...
Sterling Skyrockets, Dollar Shrugs PCE Inflation
Sterling’s rally picks up some strong momentum in pre-holiday trading. Meanwhile, overall steady to risk-on sentiment is also lifting Aussie and other commodity currencies. On the other hand, Euro is under tremendous pressure, thanks to selloff against the Pound. Dollar,...
Stocks making the biggest moves premarket: Novavax, Tesla, JD.com Nikola and others
Check out the companies making headlines before the bell: Novavax (NVAX) – Novavax jumped 3.4% in the premarket after the drugmaker said a two-dose treatment of its Covid-19 vaccine demonstrated strong immune responses against the omicron variant. It did add...
Will GDP Lift The Loonie?
The Canadian dollar is trading quietly ahead of the release of Canada’s GDP for October later today. The loonie took advantage of broad US weakness on Wednesday, posting gains of 0.53%, its best daily showing since December 7th. Canada GDP...
Concerns About Omicron’s Severity Continue To Ease
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USD/CAD Plummets Due To Fundamentals
During Wednesday’s afternoon, US Final GDP, Consumer Confidence and Building Starts data showed contradicting information, which was represented by a wide hourly candle. The rate bounced between the borders of the minor scale channel down pattern until the pattern’s support...
GBP/JPY Books New High
By the middle of Thursday’s trading, the GBP/JPY had reached above the 153.20 level. During its surge, the rate was slowed down by the 151.50 level, the weekly R1 simple pivot point at 152.23 and the previous December high level...