GBPJPY Trades Lower Within Descending Triangle
GBPJPY is heading south, and it has been holding within a descending triangle pattern since June 9. Currently, the price is moving beneath the short-term simple moving averages (SMAs) and is approaching the 160.00 psychological mark, which is the lower...
USDCAD Stuck Below 1.3026 for Another Week
USDCAD could not find enough buyers to sustain Monday’s bullish extension above the flattening 200-weekly simple moving average (SMA) at 1.3026, with the price gearing down to meet support near its 20- and 50-day SMAs at 1.2894 on Thursday. Recall that the...
Dollar Mixed Awaiting Fed Powell, Europeans Staying Soft
The forex markets are generally steady in Asian session today, as traders are still holding their bets ahead of Fed Chair Jerome Powell’s Jackson Hole speech. US stocks staged a rebound overnight, but there was little reaction elsewhere. For the...
Additional China Stimulus Helps Stimulate the Aussie
Earlier today, China announced 19 additional policies to help the economy, worth $146 billion. These policies will primarily support infrastructure projects. After trouble in the housing market and a recent bout of poor data from China, including weak Retail Sales...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
Aussie Extends Rally, Europeans Weak, Dollar Consolidates
Dollar is staying soft in consolidation today, as traders are clearly still cautiously waiting for rate clues from Fed Chair Jerome Powell’s Jackson Hole speech tomorrow. Yen is also mixed despite surging benchmark treasury yields. Movements are mainly found in...
Stocks making the biggest moves premarket: Dollar Tree, Peloton, Salesforce and more
Check out the companies making headlines before the bell: Dollar Tree (DLTR) – The discount retailer’s stock slid 6.6% in the premarket after cutting its full-year earnings forecast, due to the impact of pricing-related investments at its Family Dollar stores. Dollar...
USD Still Bullish ahead of Jackson Hole
The markets are slow with stocks stabilized a bit ahead of the Jackson Hole event. The USD bulls also slowed down for a pullback, but technically and fundamentally we do not expect any changes till we get full details and...