Job growth stronger than expected in October, unemployment rate slides to 6.9%
Employment growth was better than expected in October and the unemployment rate fell sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported...
Dollar Selling Continues Despite Solid NFP, Euro Surges
Dollar’s selloff continues today despite stronger than expected employment data. Though, selling focus has turned to against Euro and Swiss Franc. Australian Dollar is taking a breather, together with global stock markets. There is no doubt that Dollar will end...
GBPUSD’s Hike Ceases Around Upper Bollinger Band
GBPUSD is consolidating beneath the 1.3175-1.3183 limiting border after surging off the 200-period simple moving average (SMA) and above the 50- and 100-period averages. The fairly horizontal bearing of the SMAs are promoting the neutral picture. That said, the price...
XAU/USD Skyrocketed To 1,950.00
Yesterday, the XAU/USD exchange rate skyrocketed to the 1,950.00 level. From the one hand, it is likely that some upside potential could continue to prevail in the market within the following trading session. From the other hand, the exchnage rate...
USD/JPY Trades Below 103.50
Yesterday, the USD/JPY currency pair declined below the weekly S2 located at the 103.56 mark. It is likely that some downside potential could prevail in the market in the short term. In this case the exchange rate could target the...
Non-bank trade finance providers look to boost market share
Emerging market (EM) manufacturers were facing difficulties even before the coronavirus pandemic decimated international demand for many of their products. The Asian Development Bank estimated that $1.5 trillion of requested trade finance was rejected last year – a figure that...
EUR/USD Reached 1.1850 Level
On Thursday, the EUR/USD currency pair raised to the psychological level at 1.1850. From the one hand, it is likely that the exchange rate could continue to trade upwards in the short term. In this case the rate could face...
NZDUSD Hits Wall At Fresh High, Positive Momentum Under Strain
NZDUSD retreated slightly from a newly formed resistance band of 0.6797-0.6801 involving the previous 17½-month high of 0.6797. The improvement in the bullish simple moving averages (SMAs) is assisting positive price action, while the technical indicators reflect some waning in...
Trump’s Lead In Key Battleground States Continue To Erode
Notes/Observations US presidential election remains undecided with former VP Biden still closer to 270 electoral votes than President Trump (Note: Trump’s lead totally dissipated in key battleground state of Georgia with Biden currently holding over a 900 vote edge) Two...
NZD/USD Breaks Channel Pattern
The New Zealand Dollar has surged by 104 basis points or 1.56% against the US Dollar since Thursday’s trading session. The currency pair breached the upper line of an ascending channel pattern at 0.6797 on Friday morning. Given that the...
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