XAU/USD Continues To Consolidate
Yesterday, the XAU/USD exchange rate continued to trade sideways in the 1,860.00/1,890.00 area. Given that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,874.00/1,901.00 range, it is likely that some downside potential could prevail in...
Yen Paring Losses as Markets Turn to Consolidation, Oil Faces Resistance
The financial markets are staying in consolidative mode. Asian stocks are mixed in tight range, following the mixed closes in US overnight. Gold is trading sideway ahead of key near term support. In the currency markets, Yen and Swiss France...
Elliott Wave View: USDJPY Rallies Higher Together With Indices
Short term Elliott Wave View in USDJPY suggests it is correcting the cycle from March 24 high in an expanded Flat Elliott Wave structure. The Flat structure started from September 21 low where wave A ended at 106.1 and wave...
Asia Morning: Tech Stocks Rebound
On Wednesday, the tech-heavy Nasdaq 100 Index rebounded 268 points (+2.31%) to 11892 and the S&P 500 gained 27 points (+0.77%) to 3572, while the Dow Jones Industrial Average eased 23 points (-0.08%) to 29397. Meanwhile, New York Governor Andrew...
Typical person yanked $12,000 from 401(k) during coronavirus pandemic: Vanguard
Jamie Grill | Blend Images | Getty Images Retirement savers appear to be taking advantage of relaxed rules around 401(k) withdrawals during the coronavirus pandemic. The typical 401(k) investor pulled $12,000 from their account in the form of a “coronavirus-related...
Investors Full of Optimism
Investors full of optimism A more muted session on Wednesday, which is likely to continue as the US and others observe Veterans Day and markets settle after a vaccine boost in recent days. The vaccine news feels like a real...
USD/TRY Outlook: Lira Rxtends Recovery On Hopes Of CBRT Rate Hike
The Turkish lira remains at the front foot against US dollar, following recent gains on risk appetite, sparked by fresh Covid-19 vaccine hopes and replacement of CBRT governor and Financial Minister. The USDTRY pair eased nearly 5% on pullback from...
XAU/USD Consolidates Near 1,880.00
Since Tuesday, the XAU/USD exchange rate has been trading sideways in the 1,880.00 area. Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,890.00/1,914.00 range, it is likely that some downside potential could...
Fed’s Rosengren says next 6 months will be ‘pretty choppy’ despite vaccine news
LONDON — The next six months will remain turbulent as the global economy keeps grappling with the effects of the coronavirus pandemic, Eric Rosengren, president of the Federal Reserve Bank of Boston, told CNBC. Pfizer and BioNTech said on Monday...
Covid vaccine won’t be an ‘instant stimulus’ to the U.S. economy, warns economist
A Covid-19 vaccine will not result in an “instant stimulus” to the U.S. economy, which still needs greater fiscal support as its recovery loses momentum, an economist said on Wednesday. Markets globally rallied after Pfizer and BioNTech announced on...
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