Euro Yawns as German PMIs Accelerate
The euro is almost unchanged in the Wednesday session. In North American trade, EUR/USD is trading at 1.1940, down 0.01% on the day. An important gauge of economic activity is the PMI reports, and the news was positive out of...
Dollar Index Extends Weakness after Downbeat US PMI Data but Bears Face Headwinds from strong supports
The US dollar fell further against the basket of major currencies on Wednesday, pressured by weaker than expected US PMI data. Although the US factory activity index rose to record high in June, Services PMI dropped significantly (June 64.8 vs...
Yen Selloff Continues With Dollar, Commodity Currencies Strong
The forex markets continue to stay in sort of risk-on mode today, with weakness in Dollar and Yen, and strength in commodity currencies as led by New Zealand Dollar. Though, traders in other markets are not too committed yet. European...
GBP/USD Outlook: There Is A Key Bullish Trend Line With Support Near 1.3910
The British Pound started a decent recovery wave from the 1.3800 zone against the US Dollar. The GBP/USD pair climbed above 1.3850 to move into a short-term positive zone. The pair even broke the 1.3920 resistance and the 50 hourly...
Surging inflation is causing headaches for a cautious Bank of England
View of the Royal Exchange and Bank of England in London. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England is expected to hold interest rates at record lows and maintain its massive...
Yen Extends Decline on Risk-On Markets, Completed Corrective Rebound
Yen dropped notably overnight and stays pressured in Asian session with markets back in risk-on mode. NASDAQ closed at new record high while DOW and S&P 500 also gained. Major Asian indexes follow with solid gains in Hong Kong. Dollar...
Elliott Wave View: SPX All-Time High Imminent
Elliott Wave View in S&P 500 (SPX) suggests the rally from September 25, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 25, 2020 low, wave (1) ended at 3870.90 and pullback in wave...
Asian Open: The Fed Guides Equities Higher, Copper Probes Resistance
We’re amidst another busy week for the Fed with 16 public appearances scheduled overall, with Powell, Mester and Daly hitting the wires overnight. Asian Futures: Australia’s ASX 200 futures are down -15 points (-0.21%), the cash market is currently estimated...
Fed Chair Powell says it’s ‘very, very unlikely’ the U.S. will see 1970s-style inflation
Federal Reserve Chairman Jerome Powell acknowledged Tuesday that some inflation pressures are stronger and more persistent than he had anticipated, though still not on par with some of the worst episodes the U.S. has seen historically. Under questioning from a...
Existing home sales in May drop for fourth straight month as affordability squeezes buyers
Sales of existing homes in May dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% last month from April to a seasonally adjusted annualized rate of 5.8...
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