AUDUSD Advances Towards Familiar Resistance
AUDUSD has been on the rise since the confirmation of a bullish morning star candlestick pattern, which foresaw the start of a new bullish round last Friday, but another challenge is currently displaying on the radar. Particularly, the price needs...
Chinese baijiu liquor stocks tumble amid regulatory concerns
Signage for China Kweichow Moutai Distillery Co. baijiu liquor lines a road at the company’s facility in the Maotai section of the Renhuai District in Zunyi, Guizhou Province, China, on Thursday, April 7, 2011. Nelson Ching | Bloomberg | Getty...
Today It’s All About The ECB
Markets The ECB awoke from the summer slumber with two opposing speeches yesterday. VP de Guindos said the economy again surprised positively and expects the September forecasts to be revised upwardly. He added that when the economy gets back to...
Yen Falls on Rising US Yields, Dollar Soft Again
Another round of selling was seen in Dollar overnight, as US stocks extended record run. But Yen was even weaker, following the strong rally in treasury yields. It remains to be seen if investors are already starting to position themselves...
The economy could be getting help from positive news on the delta variant
People wearing protective face masks walk in downtown St. Petersburg, amid coronavirus disease (COVID-19) pandemic, in Florida, August 6, 2021. Octavio Jones | Reuters If the U.S. recovery is going to progress, it will need the help of efforts to...
Volatile Durable Goods Orders Decline in July: DXY
Orders for large ticket items, such as aircraft and autos, fell by -0.1% MoM in July vs expectations of -0.3% and a reading of +0.8% in June. One of the reasons Durable Goods Orders is so volatile is because of...
Markets Steady ahead of Jackson Hole
Back on the fence A relatively muted session on Wednesday as investors sit on the fence ahead of the Jackson Hole Symposium later in the week. It’s all gone very quiet in the markets, which is hardly surprising under the...
House vote on $3.5 trillion budget raises prospect of higher taxes on the rich
Phil Roeder The prospect of higher taxes for wealthy Americans edged closer on Tuesday as House Democrats passed a $3.5 trillion budget plan. That framework lays the groundwork for Democrats to write formal legislation that can pass without one Republican...
AUD/USD: Bulls are Pausing and Awaiting Fresh Signals from Jackson Hole Event
The AUDUSD is holding within narrow consolidation on Wednesday, after Mon-Tue bounce retraced over a half of last week’s sharp bearish acceleration which hit a multi-month low at 0.7106. Fresh bulls faced strong headwinds from falling 10DMA (0.7252) while rising...
Dollar Continues to Recover after Durable Goods Orders, Markets Mixed
Dollar continues to pare back some of this week’s losses in early US session, after slightly better than expected durable goods orders. But strength of recovery is so far relatively weak. Markets are also generally in mixed mode. Euro has...
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