WTI Oil Futures Test Bottom of the Range after Slump
WTI oil futures for December delivery are seeking a breakdown below the range area that strictly held the market in a neutral structure during the past four months. From a technical standpoint, the price is set to cross below the...
Door Wide Open for December European Central Bank Easing
Executive Summary The European Central Bank (ECB) kept monetary policy unchanged at today’s announcement, but its accompanying comments were notably dovish in tone, offering a very clear signal of further easing in December. The onus now appears clearly to be...
ECB Expects “Very Negative” Data in November, Pledges to Recalibrate Measures to Downturn
ECB has announced to leave all its monetary policy measures unchanged. The deposit rate stays at -0.5%, while the main refi rate and the marginal lending rate also remain unchanged at 0% and 0.25% respectively. The PEPP program will continue...
U.S. GDP booms at 33.1% rate in Q3, better than expected
Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together, the Commerce Department reported Thursday. Third-quarter...
There was a surprise drop in September home sales as buyers were priced out
A Sale Pending sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on...
US: Blowout GDP in Q3, but Growth in Q4 Will Be Slower
Most spending components posted record rates of growth as the economy re-opened. However, growth is set to slow sharply in Q4, and new COVID cases pose a downside risk to our projected 6.1% Q4 growth rate. Strong Growth Rate Reflects...
U.S. weekly jobless claims total 751,000, vs 778,000 expected
The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, declining for a second straight week, the Labor Department reported Thursday. Initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24,...
Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise
After a brief pause, Dollar and Yen are both extending rally in European session today. Stocks are clearly lacking momentum for even a small recovery. More surprisingly, the selloff in oil prices accelerate with WTI now pressing 35 handle. Euro...
EUR/USD Trades At 1.1720
On Wednesday, the EUR/USD currency pair declined to the 1.1720 mark. It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the weekly S1 at 1.1752. In this case the rate...
Sharp third-quarter growth will show the economy regaining ground, but it’s still in a hole
People wear face masks while visiting Union Square as the city continues the re-opening efforts following restrictions imposed to slow the spread of coronavirus on October 24, 2020 in New York City. Noam Galai | Getty Images Third quarter GDP...
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