ECB Preview: PEPP is the Signal – Not the Solution
At next week’s ECB policy meeting, we do not expect any new measures to be announced. However, with the COVID-19 spreading increasing, we expect the ECB to send its usual dovish signals, which could raise further market expectations for a...
Oil Pares Losses, Gold Suffering a Hangover
Oil gets a reality check Oil is trading a little higher on Thursday, after pulling back towards the middle of their post summer range over the last couple of sessions. Crude prices had gathered some significant bullish momentum and were...
September existing home sales jump 9.4%, but ‘prices are rising too fast’ as supply remains tight
Pedestrians walk past a home with a “Sold” sign in San Francisco. David Paul Morris | Bloomberg | Getty Images Sales of existing homes rose a higher-than-expected 9.4% in September to a seasonally adjusted annualized rate of 6.54 million units,...
USDCHF Rebounds Off 7-Week Low; Negative in Medium Term
USDCHF has reversed from the seven-week low of 0.9029 after the strong bearish move since September 25. Further backing this short-term view are the Ichimoku lines and the upward slopes on the MACD oscillator which holds above its trigger line...
Dollar Recovers Mildly after Job Data, Markets Tread Water
Dollar recovers in early US session, with help from better than expected job data. Yet, it remains the weakest one for the week at this point. Buying momentum for the greenback doesn’t warrant a reversal yet. The forex markets are...
EUR/USD Remains Below Weekly R2
On Wednesday, the EUR/USD currency pair failed to exceed the resistance level—the weekly R2 at 1.1884. It is likely that the exchange rate could gain support from the 55-hour moving average near 1.1840 and trade upwards in the short term....
Sterling to Take the Limelight as Dollar Takes a Breather
Dollar recovers mildly in Asian session today but remains generally weak, as the worst performing one for the week so far. Sellers appear to be taking a breather for now, and wait for fresh development regarding fiscal stimulus, as well...
More Lock-Down In Europe
Market movers today Overall, still a quiet day in terms of economic data releases, with US jobless claims being the highlight of the day. Besides that different confidence measures from Norway, Denmark, Germany, France, the euro area, the UK and...
Elliott Wave View: Oil Futures (CL) Looking To End Flat Correction
Elliott Wave View in Oil Futures (CL) shows that it has ended wave ((4)) pullback at $36.89. This wave ((4)) is part of the cycle starts from April 22 low as a 5 waves impulse. Oil has turned higher in...
Economic recovery could slow in Q4 after ‘steroid of fiscal stimulus’ fades, JPMorgan Asset Management says
Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) While it appears that the economy has sharply bounced back from the pandemic’s blow, this is actually a “steroid kind of recovery,” JPMorgan...
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