AUD/USD Decline To Continue
The Australian Dollar declined by 55 pips or 0.72% against the US Dollar on Thursday. The decline was stopped by the 200– hour simple moving average during Thursday’s trading session. The exchange rate could continue to edge lower during the...
BTCUSD Watching Bollinger Bands
Bitcoin remains under pressure on Friday, following bearish news surrounding a potential Bitcoin ETF and Facebook failing to add the top crypto to its holdings. The Bollinger Band indicator is highlighting the next major move could come once the $53,000...
Asian Markets in Mild Risk-Off Mode Despite Japan and China Data
The financial markets are trading with a mild risk-off tone in Asia today, despite the resilience in US overnight. Solid economic data from Japan and China provided little support to sentiment. The region is generally in deep worry over record...
Stock futures dip even after Amazon reports profit surge
FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Futures contracts tied to the major U.S. stock indexes dipped at the start of the overnight session Thursday evening as investors pored over a flurry of earnings results and a...
Job growth could surpass 1 million in April hiring boom as economy roars back
A Wawa store hiring sign in Bethany Beach, Delaware. Stephanie Dhue | CNBC The economy could add more than 1 million jobs in April, economists say. Hiring seems to have strengthened as businesses reopen, leading some economists to make big...
Q1 GDP Surges, But that’s Old news. Where to Now?
The US Advanced GDP for Q1 was 6.4% vs 6.1% expected and 4.3% in Q4 2020. Last year as the pandemic began, the Q1 reading was -5%. (As a reminder, Q2 last year was -31.4% and Q3 was +33.4%!) The...
Strong GDP, Steady Claims
US GDP robust but misses estimate A lot of the optimism has been priced in, so financial markets were unfazed with the robust growth in the first quarter and a drop with initial jobless claims. The economy grew at 6.4%,...
Consumer-fueled economy pushes GDP to 6.4% first-quarter gain
Economic activity boomed to start 2021, as widespread vaccinations and more fuel from government spending helped get the U.S. closer to where it was before the Covid-19 pandemic struck, the Commerce Department reported Thursday. Gross domestic product, the sum of...
Pending home sales rose less than expected in March as prices soared
A sale pending sign is posted in front of a home for sale in San Anselmo, California. Justin Sullivan | California Pending home sales, a measure of signed contracts on existing homes, rose 1.9% in March compared with April, according...
Yen Dives as Global Yields Surge, Dollar Recovers Mildly after Data
Yen’s selloff is a dominant theme in the markets today as major global treasury yields strengthen. In particular, Germany 10-year bund year is back at around -0.18, above -0.2 handle. US 10-year yield is trading at 1.675 at the time...
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