Oil Rebounds, Gold Edges Higher
Oil also recovers on stimulus hopes Oil prices recovered overnight, boosted by OPEC+’s JMMC holding its nerve on production cuts, and rising expectations that a US stimulus deal will occur. The sentiment was boosted by Nancy Pelosi’s pre-election deadline passing,...
A ‘blue wave’ in U.S. elections could bring forward Fed rate hikes, says Morgan Stanley
A Democratic sweep in the coming U.S. elections will likely unleash more fiscal stimulus, but it could also cause the Federal Reserve to hike interest rates earlier than expected, said a Morgan Stanley portfolio manager. The first rate hike by...
Dollar Pressured on US Stimulus Hope Again, Euro Stays Strong
Dollar is under some selling pressure since overnight as US politicians were still optimistic in closing a fresh stimulus deal by election. This appears to be the most volatility triggering theme for the near term for now. Commodity currencies are...
Stock futures rise as stimulus talks continue, Netflix shares fall after earnings miss
U.S. stock index futures rose in overnight trading on Tuesday after White House Chief of Staff Mark Meadows said that House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have made “good progress” on stimulus talks, before adding that they...
Aussie Pairs Nearing Key Support: AUD/CAD, AUD/JPY, AUD/USD
The Reserve Bank of Australia’s (RBA) Kent spoke last evening and hinted that the central bank is considering further easing in monetary policy. This comes after the RBA recently said that they are considering buying longer term bonds to help...
USD/CAD Continues to Range-Trade
USD/CAD is almost unchanged for a second straight day. In Tuesday’s North American session, the pair is trading at 1.3184, down 0.06% on the day. In the US, construction releases were positive in September. Housing Starts were up 1.9%, while...
Euro and Swiss Franc Rally as Markets Expect More Negative Rates Elsewhere
Markets continue to be dominated by strength of Euro and Swiss Franc today. That comes in spite of surging coronavirus infections in Europe. Meanwhile, the deadlock of Brexit negotiations remain. Traders are apparently adding to bet that more global central...
U.S Futures Green – Watch INTC, PG, PM, IBM, GS, MRNA, MSFT
The S&P 500 Futures are posting a rebound after they closed sharply lower yesterday. Despite House Speaker Nancy Pelosi calling on the government to reconcile remaining disputes on a fiscal stimulus package within 48 hours, no progress was made toward...
XAU/USD Analysis: Remains Below 1,915.00
On Monday, the XAU/USD exchange rate reversed south from the 1,915.00 level. Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,905.00 area, it is likely that some downside potential could prevail in...
BTCUSD Could Hit $12,000
Bitcoin continues to gain upside traction, as the cryptocurrency benefits from technical buying after moving above the $11,700 resistance level. The BTCUSD pair could start to test towards the $12,000 resistance level if the $11,850 resistance area is broken. Overall,...
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