Canada GDP Bounced Back in Q3, But Recovery to Stall in Q4
40.5% (annualized) Q3 GDP bounce-back big (but smaller than expected) Spending on services still very restrained – goods-producing sectors doing better Savings hoard to boost spending once virus containment measures ease The 8.9% increase in Q3 GDP (40.5% at an...
EUR/GBP 4H Chart: Tests 200– Period SMA
The common European currency surged by 118 pips or 1.33% against the British Pound during last week’s trading sessions. The currency pair tested the 200– period SMA at 0.8994 on November 30. Everything being equal, the exchange rate could continue...
Stocks Start the Month Strong, But No Downside Breakout in Dollar Yet
Yen and Dollar are generally softer today as markets open December on firm footing. Australia Dollar is following as third weakest as diplomatic tension with China worsens. On the other hand, Euro is leading Swiss Franc higher. Manufacturing data from...
RBA Remains Cautiously Optimistic with Better-than-Expected Recovery, Pledged to Do More if Needed
As widely expected RBA left all the monetary policy measures unchanged in December. While acknowledging the “better-than-expected” economic recovery, the members reiterated that the outlook remains dependent on policy support. On economic developments, the central bank noted that “the economic...
Dow futures rise more than 200 points after Wall Street wraps up historically strong month
Traders work on the floor of the New York Stock Exchange on Nov. 4th. 2020. NYSE U.S. stock futures rose on Monday night after the major averages notched sharp monthly gains for November. Dow Jones Industrial Average futures traded 236...
Weekly jobless claims counts are inaccurate and the unemployed are being underpaid, watchdog says
Erin Scott/Bloomberg via Getty Images The Department of Labor has been both miscounting the number of people receiving unemployment benefits and underpaying those under a special program instituted to address the coronavirus pandemic, according to a government watchdog report Monday....
October pending home sales fall unexpectedly, as high prices take their toll on buyers
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability...
Oil Prices are Correcting, After All
On Monday, November 30th, Brent is declining, correcting after prominent growth yesterday. It is trading at 47.60 USD and might spend the whole session falling. By the way, on Monday, OPEC is having a meeting. By the decision of the...
EURAUD Heads Up But Still Lacks Direction in Short-Term
EURAUD is ticking higher in a horizontal trajectory trapped between the 1.6340 resistance and the 1.6144 support. A paused state of directional momentum is reflected in the Ichimoku lines, while the price rests around the upper surface of the cloud....
Oil Steady ahead of OPEC Meeting
Traders take profit as OPEC+ meets to discuss 2021 production plans Pre-meeting talks between a select few key OPEC+ ministers failed to generate a consensus on production plans for next year. This includes plans for January, when cuts had planned...
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