Aussie Tumbles Mildly on Trade Tension, Markets Mixed Elsewhere
Australian Dollar weakest broadly today after China intensified the trade tensions with banning Australia’s coal imports. Markets are relatively mixed elsewhere, with some softness in both Yen and Swiss Franc. The Pound’s rebound is fading as for now, there is...
EUR/USD: Better Than Expected Industrial Production
Official data showed that industrial production in the Eurozone rose 2.1% on month in October, better than +2.0% expected. The European Union is also still in talks with the U.K. over a post-Brexit trade deal. EUR remains on the upside....
FOMC Meeting Preview: Threading A Needle
As we kick off the final full trading week of 2020, traders will be focused on a busy calendar of economic data, as well as major central bank meetings including from the Federal Reserve. As my colleague Joe Perry noted...
Vaccines will ‘boost confidence dramatically’ and lift Treasury yields in 2021, Wells Fargo predicts
Wells Fargo Securities is pushing a bearish case for the prices of bonds in its official 2021 outlook. Michael Schumacher, the firm’s head of macro strategy, expects the 10-year and 30-year Treasury Note yields to move meaningfully higher due to...
Extra unemployment benefits may be delayed for weeks, even if Congress passes Covid bill
Bill Clark | CQ-Roll Call, Inc. | Getty Images Millions poised to lose benefits A lag would be consequential for millions of Americans poised to lose their benefits the last weekend in December, when temporary programs enacted by the CARES...
US 500 Index Gaps Higher; Holds ATH in its Scope
The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today re-establishing a positive bearing towards the upper Bollinger band, near the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even...
Pound Rebounds on Brexit Optimism
The British pound is flying in the Monday session. GBP/USD is currently trading at 1.3368, up 1.14% on the day. In the European session, the pound climbed as high as 1.3445, before retreating back below the 1.34 level. Brexit causing sterling...
Dollar Breaking Down as Stocks Surge on Vaccines, Sterling Jumps on Brexit Optimism
The global markets are quickly back in risk-on mode today. DOW future is back above 30k handle, as coronavirus vaccine rollout began. There seems to be some progress in the US Congress for fresh fiscal stimulus too. Dollar is under...
More and More Risks Appear Around Pound
December 13th was the deadline for the negotiations between British and European politicians about the conditions of the United Kingdom’s exiting the European Union. However, no decisions have been made and there is no extra time to make them. There...
EUR/USD Holding Support, GBP/USD Starts Fresh Decrease
Key Highlights EUR/USD remained well supported above 1.2050 and 1.2080. It is facing a strong resistance near the 1.2160 and 1.2175 levels. GBP/USD failed to extend gains and declined sharply below 1.3300. Crude oil price rallied above $47.50 before correcting...
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