S&P 500: All Systems Go Heading into Earnings Season
On Monday, we flipped the calendar into a new week, month, and quarter, and beyond the weather getting cooler (at least for Northern Hemisphere readers!), that means that we’re on the verge of another quarterly earnings season for US stocks....
Japanese Yen Edges Higher, ADP Payrolls Next
USD/JPY has edged lower in the Tuesday session, erasing the losses seen on Monday. In North American trade, the pair is trading at 113.65, down 0.27% on the day. On the release front, Japanese consumer confidence remains weak, coming in...
US-Mexico-Canada agreement shows a deal with China is ‘possible,’ OECD secretary general says
The U.S. administration’s updated trade agreement with Mexico and Canada shows that a separate deal with China is “possible,” the secretary general of the Organization for Economic Co-Operation and Development (OECD) said Tuesday. “It’s a victory for the world to...
Risk Aversion Dominates as Australian Dollar, Sterling and Euro Slide
Euro suffered heavy selling today as Italy and EU stepped up rhetorics on budget clashes. But even heavier selling is seen in Australian, New Zealand Dollar and Sterling. Steep decline in Hong Kong stocks hints that China markets will likely...
Trump just helped stocks clear an important hurdle, long-time bull Art Hogan says
Art Hogan sees the new deal to replace NAFTA as ammunition for his bull case. According to the B. Riley FBR chief market strategist, President Donald Trump helped U.S. stocks clear an important hurdle by resolving the North American trade...
EURUSD Outlook: Break Through Key Supports Threatens On Further Weakness
The pair holds firmly in red for the fifth straight day and broke through strong supports at 1.1558/45 (50% of 1.1300/1.1815 rally/daily cloud top on fresh bearish acceleration in early Monday’s trading. The dollar strengthened across the board after US,...
Rescued NAFTA Deal Fails To Lift Global Risk Appetite
Global investors remained defensive on Tuesday despite the U.S. and Canada agreeing to a new trade deal ending months of uncertainty and providing a lift to specific assets including the Canadian Dollar and Mexican Peso. Apparently, it was the Canadians...
USD/TRY Watch 5.9000
Pivot (invalidation): 5.9700 Our preference Short positions below 5.9700 with targets at 5.9300 & 5.9000 in extension. Alternative scenario Above 5.9700 look for further upside with 6.0000 & 6.0300 as targets. – advertisement –
Comment A break below 5.9300...
Currencies: Italy-EMU Budget Dispute Weighs On Euro
Rates: Risk aversion to dominate trading? Italian FM Tria returned from yesterday’s Eurogroup with work to do on the country’s draft budget proposal which is unacceptable to Europe. Italian populist party leaders probably won’t give in, adding selling pressure on...
Euro Weakens as Italy on Track to Clash with EU on Budget, Aussie steady after RBA
Canadian Dollar remains firm on the USMCA trade deal but it’s waiting for fresh stimulus to extend rally against Dollar and Yen. Australian Dollar is also steady after RBA stands pat and published a neutral statement as widely expected. Meanwhile,...