Yen Edges Lower as NFP Close to Forecast
It has been a week to forget for the Japanese yen, as USD/JPY has climbed 2.23% and has pushed across the symbolic 140 line. In the North American session, USD/JPY is trading at 140.57, up 0.26% on the day. US...
Gold Threatens to Fall Down from the Range
The gold price dipped below $1700 on Thursday, approaching the lower boundary of its trading range since May 2020. Gold has been finding buyers after emotional dips towards the lower boundary throughout this period. Perhaps the main reason for the...
EUR/USD: Bears Likely to Resume after Consolidation, US NFP Data Eyed for Fresh Direction Signal
Near-term action remains directionless after larger bears faced strong headwinds at 0.9900 zone, where a temporary base has formed, but rebounds above parity were so far short-lived, keeping sideways mode and waiting for stronger signals. Overall picture remains bearish, suggesting...
GBP/USD: Bears Taking a Breather ahead of Attack at 2020 Low
Cable is consolidating above new multi-month low, posted on Thursday after a brief probe below 1.15 handle, following an uninterrupted bear-run in past five days. The pair is also on track for the third consecutive weekly loss, with risk aversion...
Nasdaq 100 Grinds Critical Support
The Nasdaq 100 falters as the Fed puts price stability as its number one priority. A drop below 13000 has prompted buyers to bail out, exacerbating the selling pressure. The index is hovering above 12000 at the base of a...
USD/JPY Sets New 24-Year High Above 140, US NFP Next
Key Highlights USD/JPY gained pace and rallied to a new 24-year high above 140.00. A major bullish trend line is forming with support near 138.40 on the 4-hours chart. GBP/USD tumbled below 1.1550, and gold price dropped below $1,700. The...
AUDUSD Edges Higher Within Symmetrical Triangle; Neutral in Medium-Term
AUDUSD is finding strong support near the short-term ascending trend line and the 0.6855 barrier, after it spiked towards a new six-week low at 0.6840. The RSI indicator is gaining some momentum, mirroring the market’s bullish behavior over the past...
Australian Retail Sales Post Surprise Bounce
July sales: +1.3%mth (market +0.3%), 16.5%yr. Rate hikes, sentiment slump yet to impact. The ABS preliminary estimates of official retail sales showed a much stronger than expected 1.3% gain in July. That compares to a subdued 0.2% rise in June...
Beyond student loan forgiveness, here’s what the government can do to keep the rising household debt in check
On Aug. 24, President Biden announced the cancellation of $10,000 in federal student loan debt for most borrowers making less than $125,000 annually. But student loans account for less than 10% of household debt in America, which reached $16.15 trillion...