USD/CAD Breakout Could Occur
The US Dollar declined by 84 points or 0.66% against the Canadian Dollar on Tuesday. The currency pair tested the lower boundary of an ascending channel pattern at 1.2703 on Wednesday morning. Currently, the USD/CAD exchange rate is trading near...
Dollar Reversed as Fed Officials Talk Down Tapering, Sterling Strong
Dollar dropped notably overnight and stays weak in Asian session. Some Fed officials toned down the talk of tapering the asset purchase program, or any monetary stimulus removal. Sterling, on the other hand, is extending this week’s rally, after BoE...
Oil Drives Higher, Gold Retreats, Bitcoin In Recovery
Oil rally continues but may face resistance soon Oil’s relentless rally is continuing, with crude prices up roughly 1.5% today, making fresh highs since the pandemic plunge. The rally will run into stronger resistance soon enough but a softer dollar...
Trump’s business prospects just got dimmer as Wall Street backs away from tarnished brand
More than two decades ago, Donald Trump the New York developer found refuge at Deutsche Bank after a syndicate of lenders, including predecessor firms to JPMorgan Chase and Citigroup, cut ties with him. Now, after followers of President Trump laid...
Americans spent a record online over 2020 holidays, and more e-commerce gains are expected
An independent contractor to FedEx Corp. unloads packages from a delivery truck on Cyber Monday in New York, U.S., on Monday, Dec. 2, 2019. Michael Nagle | Bloomberg | Getty Images U.S. online purchases over the 2020 holidays grew 32.2%...
GBP/USD Outlook: Sharp Recovery Signals End of Correction, But Caution Still Required
Cable jumped to 1.36 zone on Tuesday after pullback from new multi-month high at 1.3703 was rejected at 1.3451 on Monday and left hammer candle on daily chart, signaling possible end of corrective phase and reversal. Drop through ascending 20...
US: Small Business Confidence Weakens Further in December
TD Bank Financial Grouphttp://www.td.com/economics/ The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness...
EURCHF Ebbs Off Heavy Border; Progressive Picture Unbroken
EURCHF has abated to the mid-Bollinger band around 1.0819 after recent attempts to appreciate, including the false break out of 1.0891, were capped by the upper Bollinger band and the tough resistance ceiling of 1.0857-1.0877. The simple moving averages (SMAs)...
Sterling Rises on BoE Comments, Dollar Lost Momentum
Sterling surges broadly today after BoE Governor criticized that negative interest rates have a lot of issues. Commodity currencies are currently the next strongest, reversing some of this week’s pull back. On the other hand, Dollar is now the weakest...
Gold Trades Flat Following Last Week’s Declines
The precious metal is on track to close flat on Monday. Price briefly slipped to test the 1817.80 level before pulling back. Overall, gold prices are currently confined to trade within the 1850 and 1817.80 levels. Only a strong breakout...
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