EURGBP Maintains Bearish Bias Despite Some Upside Pressures
EURGBP is recovering from three-month lows after yesterday sinking to 0.8339, suggesting that a new support base has been formed around 0.8340. This level is above the 78.6% Fibonacci retracement of the March-June uptrend at 0.8313 so it may provide...
Fed’s Bullard sees more interest rate hikes ahead and no U.S. recession
St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling. The central bank official said he expects another 1.5 percentage points or so in...
Both Dollar and Euro Performed Mixed Against G10 Peers
Markets FOMC member Bullard join the hawkish parade kickstarted by Daly, Mester and Evans yesterday. This morning he reiterated his views of a policy rate at 3.75-4% by the end of the year and said there’s a need to get...
Yen, Swiss Franc and Dollar Turn Softer on Slightly Upbeat Sentiment
Yen, Swiss Franc and Dollar turn softer with other markets trading in slightly upbeat tone. Traders are back to business as usual, after no substantial actions from China during the time US House Speaker Nancy Pelosi visited Taiwan. Australian Dollar...
Dollar’s Momentum Doesn’t Warrant a Reversal Yet
Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen’s rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is attempting a rebound, but momentum...
4.2 million people quit in June despite recession worries: ‘A paradox in our economy’
A cooldown in the job market is underway: The number of job openings dropped in June while near-record numbers of people continued to quit and get hired into new roles, according to the Labor Department’s latest Job Openings and Labor...
Fed’s Daly says ‘our work is far from done’ on inflation; Evans sees ‘reasonable’ chance for smaller hike
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018. Ann Saphir | Reuters The Federal Reserve still has a lot...
Swiss Franc Rebound Continues
USD/CHF dips below 0.9500 The Swiss franc is showing little movement today, but USD/CHF has fallen below the 0.9500 line for the first time since May. The US dollar pushed the Swiss franc above the parity line in June, but...
Crude Oil Prices Continue to Be Under Pressure
The commodity sector remains rather tense on Monday; Brent is trading at $102.75. Global geopolitics is what investors are focused on right now. Any complications in this area muddy the water one way or another, and it’s bad news. Last...
US 30 Tests Major Resistance
The Dow Jones 30 rallies over expectations of slowing inflation. The index has found support in the former supply zone around 31700, which indicates the bulls’ strong commitment in extending the current recovery. As the index claws back last month’s...