Sterling Still Facing Downside Pressure in Quiet Markets
Markets are generally quiet in Asian session today. Sterling is set to end as the worst performing one for the week. And it’s still facing much downside pressure against Euro, Swiss Franc and Yen. Dollar is following as the second...
6 million people applied for unemployment a year ago. They’re still near pre-pandemic highs
A person walks under a marquis for a closed down Paramount theater in Oakland, Calif. on Feb. 12, 2021. JOSH EDELSON | AFP | Getty Images It’s been a year since unemployment claims peaked at nosebleed levels and signaled the...
ECB’s Minutes Revealed that Upside from US’ Fiscal Stimulus Not Yet Reflected in March Forecasts
ECB’s minutes for the March meeting have lent support to EURUSD. The minutes revealed that policymakers saw upside risks to the economic outlook, thanks to US’ huge fiscal stimulus. Meanwhile, despite higher inflation in the near-term, it should remain subdued...
Weekly jobless claims higher than expected
First-time claims for unemployment insurance rose more than expected last week despite other signs of healing in the jobs market, the Labor Department reported Thursday. First-time claims for the week ended April 3 totaled 744,000, well above the expectation for...
WTI Futures Creep Sideways But Possess Upside Potential
WTI oil futures have moulded a strong base from 57.25 to 58.10 and are consolidating around the 60.06 mark, which happens to be the 23.6% Fibonacci retracement of the up leg from 34.02 until 67.96. The commodity’s price action is...
Euro Drifting after FOMC Stays Dovish
The euro is almost unchanged in the Thursday session. Currently, EUR/USD is trading at 1.1880, up 0.07% on the day. The euro was red-hot early in the week, as EUR/USD posted gains of close to 1.0 percent and pushed above...
US: Jobless Claims Increasingly an Outlier
Summary The second consecutive increase in weekly claims to 744K and the modest increase in the four-week average stand in contrast to nearly all other reads on the labor market at present, which point to the recovery progressing. One of...
EUR/USD at Key Inflection Point
Traders need to consider when the “pricing in” of the vaccine has reached its peak The theme driving the Euro this week has been one optimism. After months of lockdowns and restrictions (including April), traders viewed the message from the...
USD/JPY Extends Correction Lower, Dragging Down Other Yen Crosses
USD/JPY’s near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We’ll monitor if the...
USD/JPY Extends Correction Lower, Dragging Down Other Yen Crosses
USD/JPY’s near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We’ll monitor if the...
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