Private payrolls increased by just 128,000 in May, the slowest growth of the recovery, ADP says
Private sector employment rose by just 128,000 for the month, falling well short of the 299,000 Dow Jones estimate.
Dollar Dips Mildly after Poor ADP Job Data
Dollar weakens mildly further after worse than expected ADP job data. But selloff is limited as traders are probably cautious ahead of tomorrow’s non-farm payrolls. But overall, Yen remains the worst performing one for the week. Sterling and Euro are...
EURGBP Defends Series of Higher Highs; Eyes on 0.8594
EURGBP has been gradually gaining ground over the past week, with the 20-day simple moving average (SMA) buffering any selling pressures on the way up and hence defending the latest rebound on the key 200-day SMA at 0.8440. The fact...
Fed report sees ‘slight or modest’ economic growth as inflation surges
Most of the U.S. has been seeing just “slight or modest” economic growth over the past two months or so, according to a Federal Reserve report released Wednesday. While all 12 Fed districts reported continued growth, the central bank’s periodic...
Job openings show sharp decline, but still vastly outnumber available workers
A man walking a dog passes by a help wanted sign advertised along East Main Street in East Islip, New York on February 17, 2022. Newsday LLC | Newsday | Getty Images Job openings fell by nearly half a million...
The Fed’s Mary Daly says rate hikes should continue until inflation is tamed
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest...
Bank of Canada Hikes Rates 50bps. Will Act More Forcefully If Needed!
Although the Bank of Canada raised rates by only 50bps today, the statement was clearly hawkish. The Bank of Canada hiked interest rates by 50bps to 1.5%, as expected. However, the announcement may have disappointed some, as rumors were swirling...
Price Action: The Power of the Wick
Probably one of the more compelling areas of price action is in its ability to show key levels or price zones that matter. And to be sure, there’s a lot of ways of finding potential support and resistance levels but...
Price Action Trends
Most organic things live and experience the world in cycles. Whether it’s seasons or moods or growth, contraction often leads to expansion and when that expansion gets ahead of itself – it contracts, and the cycle goes on. Most human...
Using Candlestick Wicks to Identify Price Action Support and Resistance
Earlier in the sub-module we introduced the topic of support and resistance when using price action and we started by focusing on a very important part of price action analysis: The Wick. Quite simply a wick is showing an intra-candle...