Mortgage rates set 14th record low of the year, driving even more refinance demand
Mortgage rates fell again, falling to a record low for the 14th time this year, defying their usual correlation to Treasury yields, which have recently been moving higher. And that is sending ever more borrowers to their lenders looking to...
WTI OIL: Oil Prices Drop on Unexpectedly Strong Build in Weekly Crude Inventories
WTI oil fell over $1 after EIA report showed US weekly crude inventories rose by 15.2 million barrels in the week to Dec 9, marking the biggest weekly build in nearly eight months. Downbeat data increased pressure on oil prices,...
UK Recovery Stumbles as No-Deal Brexit Risks Spike; Pound Oblivious
Growth data out of the United Kingdom will kick off Thursday’s European session at 07:00 GMT when traders are likely to wake up to fresh Brexit headlines. Prime Minister Boris Johnson is due to travel to Brussels later today to...
EURGBP’s Clear Direction Curbed as Recent Gains Fade
EURGBP is receding beneath the 50-day simple moving average (SMA) at 0.9012, residing between the converging 100- and 200-day SMAs. The conflicting SMAs seem to be developing a somewhat sideways bearing, promoting the near-term directionless market. The opposing short-term oscillators...
Sterling Rebounds ahead of Johnson’s Brussels Trip, Euro and Swiss Soften
Sterling rebounds strongly today on hope that the physical meeting between the leaders of UK and EU would yield some positive progress on post Brexit trade talks. Yet, traders are not too committed on the bullish side yet, after Prime...
Stocks making the biggest moves in the premarket: FireEye, GameStop, United Natural Foods & more
Take a look at some of the biggest movers in the premarket: Campbell Soup (CPB) – The food maker reported quarterly profit of $1.02 per share, 11 cents a share above estimates. Revenue topped forecasts as well. Campbell also raised...
Focus On UK-EU Meeting Later Today In Attempt To Break The Deadlock In Brexit Negotiations
Notes/Observations Focus on Wednesday dinner between UK PM Johnson and EU Commission President von der Leyen in Brussels; meeting viewed as last-ditch attempt to salvage a Brexit trade deal Risk appetite trying to find some tailwinds as last-ditch Brexit talks...
Markets Returning to Risk-on Mode, Dollar Vulnerable to More Downside
Dollar and Yen are back under some selling pressure today, as markets seem to be returning to risk-on mode. NASDAQ hit another record high overnight, and Asian markets are generally trading in black. The greenback’s weakness is also seen as...
Elliott Wave View: S&P 500 Pullback Should Be Supported
S&P 500 (SPX) Elliott Wave View suggests the rally from October 31 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from October 31 low, wave (1) ended at 3646 and pullback in wave (2) ended at...
Universal basic income could decimate cities next year, one bank says in its ‘outlandish forecasts’
LONDON — Saxo Bank says universal basic income could become a permanent reality next year, triggering a “seismic rebalancing” of society as workers wave “bye-bye” to big city life. In a report entitled “Outrageous Predictions,” the Danish bank on Tuesday...
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