EUR/USD: ECB Day
The European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Programme) by 500 billion euros to at least March 2022. Yesterday, U.K. Prime Minister Boris Johnson and EU President Ursula von...
Waiting on Stimulus Breakthrough
Wall Street opened a little lower on Thursday as we await the FDAs decision on the Pfizer vaccine and US lawmakers push ahead with stimulus talks. Following statements earlier this week, the decision to grant emergency use authorisation to the...
Homeowners are $1 trillion richer thanks to the pandemic-driven housing boom
American homeowners are $1 trillion richer as the pandemic-driven housing boom pads their pockets. As prices rise, home equity multiplies. In the past year, homeowners with mortgages, representing about 63% of all properties, have seen their equity increase by 10.8%,...
Dollar Dives as Jobless Claims Surge, Euro Firm as ECB Delivers
Dollar falls broadly in early US session after much worse than expected jobless claims data, confirming the impact of the current wave of coronavirus pandemic. Yen is not far behind for now as second weakest. But Sterling is also facing...
XAU/USD Dropped Below 1,845.00
The XAU/USD exchange rate has tumbled to the support provided by the 200-hour SMA near 1,830.00. If the predetermined support holds, it is likely that yellow metal could appreciate against the US Dollar within the following trading session. Meanwhile, note...
GBP/USD Outlook: Cable Stands At The Back Foot Following No Breakthrough In Trade Talks
Early Thursday’s action is keeping negative tone but long shadows on daily candles in past few sessions signal lack of clear direction. Pullback from new 2020 high at 1.3538 cracked initial supports at 1.3335/30 (Fibo 23.6% of 1.2675/1.3538/rising 20DMA) but...
Can The ECB Drag The Euro Lower?
This year, the Euro has been one of the best performing major currencies, having appreciated 8% against the Dollar so far while rebounding 14% from the March lows. The rise in the Euro has come despite depressed bond yields across...
Sterling Softens on Brexit Impasse, Euro Awaits ECB
Sterling softened again after the Brussels meeting ended with nothing more than comments that UK and EU are still far apart. Yet, traders are still holding their bets for now. Yen and Dollar also shrug off the deep pull back...
BOC Upbeat about Vaccine but Remained Cautious about Slow Global Recovery
As widely anticipated, BOC left all its monetary policy measures unchanged. Policymakers acknowledged the economic recovery since the last meeting. Yet they cautioned about the resurgence in coronavirus cases and the potential impacts on related restrictions on the economic outlook....
Trend shows home price growth at record high, rising at fastest pace since early 2000s
Housing is doing something it hasn’t done since the bubble. According to economic forecaster Lakshman Achuthan, home prices across the country are rising at the fastest pace since 2004. Plus, he finds price growth is at a record high. “This...
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