October existing home sales see ‘spectacular’ 26.6% annual gain even with short supply and surging prices
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors. The NAR’s chief economist, Lawrence...
John Malone says platforms like Apple, Amazon and Roku will dominate streaming
John Malone chairman of Liberty Media Michael Kovac | Getty Images | Vanity Fair) Liberty Media Chairman John Malone told CNBC that Amazon, Apple or Roku could dominate in the crowded streaming space given their ability to scale globally. “I think these...
Jobless claims filings pick up amid continued struggles for labor market
The pace of workers filing for unemployment claims picked up last week and was a bit higher than Wall Street had been expecting. Jobless claims totaled 742,000 for the week, the Labor Department reported Thursday, ahead of the 710,000 estimate...
EURAUD Challenges 23.6% Fibo Near 1.6300
EURAUD is testing again the strong resistance around the 23.6% Fibonacci retracement level of the down leg from 1.6825 to 1.6143 at 1.6305, remaining at the same time inside the Ichimoku cloud. The MACD oscillator is flattening near the zero level, while the RSI,...
Aussie Dips Despite Sharp Job Data
The Australian dollar has dipped lower in the Thursday session. Currently, AUD/USD is trading at 0.7268, down 0.50% on the day. Sparkling job numbers, but Aussie falls There was excellent news on the employment front in October, as the economy...
Silver in a Big Correction
Silver is trading in a bigger, complex W-X-Y correction, down from August highs. At the moment we are tracking a sub-wave C of Y, down from 25.97 level, where sub-wave B correction fully unfolded its three-wave move. Wave C is...
Dollar Still in Recovery Despite Rise in Initial Jobless Claims
Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and US futures. Australian...
Oil Edges Higher, Gold Range Trading
Crude inventories saves oil’s blushes Oil would probably have finished the overnight session lower as well but can thank a lower than expected rise in official US Crude Inventories. The 768,000-barrel print was well below market expectations of a 1.65-million-barrel...
Dollar Recovers in Consolidative Markets, Coronavirus Cases and Restrictions Weigh on Sentiments
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable...
Elliott Wave View: GDX Correction Remains In Progress
Elliott Wave view in Gold Miners (GDX) suggests the Index is correcting the cycle from March 16, 2020 low. The correction is unfolding as a double three Elliott Wave Structure. In the 60 minutes chart below, we can see wave...
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