Gold Settles Above 1818 Technical Level
The precious metal is extending its bullish momentum. Price action is trading above the key resistance level of 1818.80. As long as gold prices remain firmly above this level, we could expect further gains. This could extend the correction further. The next...
Yen Down on Surging US Yields, Europeans Stay Strong
Yen trades generally lower today as pressured by surging US treasury yields and mild risk-on sentiments. Dollar and commodity currencies are not too far behind. European majors continue to be strong as led by Euro and Swiss Franc. Sterling is...
‘We’re positive that it will be a good end to 2020,’ Ally Invest’s top investment strategist says
There may be more juice left in the fourth quarter. Ally Invest’s Lindsey Bell said she believes the backdrop supports December gains. “We’re positive that it will be a good end to 2020,” the firm’s chief investment strategist told CNBC’s...
Kaplan says he’s not in favor of Fed increasing bond purchases
Dallas Federal Reserve President Robert Kaplan said he wouldn’t be in favor of changing the central bank’s bond-purchasing program even though he sees some rocky times ahead for the U.S. economy. Speaking Wednesday to CNBC, Kaplan said financial conditions are...
Mortgage demand from homebuyers spikes 28%, and the average loan amount sets a record high
A house for sale in Sarasota, Florida Scott Mlyn | CNBC Thanksgiving week isn’t usually a popular time for homebuying, but most economic numbers this year are incomparable, especially in the pandemic-spiked housing market. Mortgage applications to purchase a home...
ADP Misses, Biden to be Patient on China, UK Approves Pfizer Vaccine
US stocks held onto losses after the ADP employment report showed the labor market slowdown continues. It is hard to get excited stocks given the elevated levels and uncertainty over how much stimulus Congress will be able to deliver before...
GBPJPY Holds Bullish Hopes as Advances Deteriorate
GBPJPY retreated aggressively from a freshly logged high of 140.43 under the mid-Bollinger band, hitting the 50-period simple moving average (SMA) at 139.11. Nonetheless, safeguarding positive sentiment are the advancing simple moving averages (SMAs). The short-term oscillators are reflecting a...
Hiring falls off in November to slowest rate since July
Private payrolls grew at their slowest pace since July amid a deceleration in large business hiring for November, ADP’s monthly payrolls report said Wednesday. Companies hired 307,000 workers last month, well below the 475,000 estimate from a Dow Jones survey...
Sterling Hammered on Brexit Uncertainty, Swiss Franc Surges
Selloff in Sterling is the main theme for today. UK become the first country to approve Pfizer-BioNTech coronavirus vaccine and shots are due next week. But the good news was overshadowed by Brexit uncertainties. As the negotiation deadline looms it’s reported...
Fintech firm Revolut names former Citigroup executive Rebecca Macieira-Kaufmann to its US board
Rebecca Macieira-Kaufmann Source: European fintech giant Revolut has hired former Citigroup executive Rebecca Macieira-Kaufmann to its U.S. board as it seeks to expand in the world’s biggest economy. Macieira-Kaufmann spent 12 years at Citigroup, most recently as head of Citigroup’s...
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