Canadian Dollar Surges With Oil Price, Job Data Eyed
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for...
ECB Minutes Tilted to Dovish Side
The message sent from the ECB minutes came in more dovish that the meeting statement released a few weeks ago. Policymakers were concerned about the inflation outlook more than previously expected. Despite upward revisions to the economic projections, the members...
Asia Morning: U.S. Stocks Rise As Stimulus Tug-Of-War Continues
On Thursday, U.S. stocks posted further gains. The Dow Jones Industrial Average rose 122 points (+0.43%) to 28425, the S&P 500 climbed 27 points (+0.80%) to 3446, and the Nasdaq 100 was up 47 points (+0.42%) to 11550. S&P 500...
Years of low interest rates made the current economic crisis worse, Fed’s Rosengren says
The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren Keith Bedford | Reuters Years of low interest rates led to excessive risk taking in commercial real estate and will make the current economic downturn even more severe,...
Jobless claims were worse than expected amid slowdown in hiring
First-time claims for unemployment benefits totaled 840,000 last week, higher than expected in another sign that the spike in job growth over the summer has cooled heading into Election Day. Economists surveyed by Dow Jones had been expecting 825,000 new...
Economic Modeling in the Post-COVID Era: Part II
Executive Summary As discussed in Part I of this series, the fundamental ambiguity of the current virus-driven crisis has brought a host of new challenges for economic modeling. Record volatility and persistent uncertainty complicate analysts’ ability to discern trends in...
WTI Futures Rise above 200-SMA but Broader Outlook is Neutral
WTI crude oil futures continue to rise above the Ichimoku cloud and the 200-period simple moving average (SMA), remaining inside a bullish move over the past five days. According to the RSI, positive momentum could push for further gains in the short-term as...
Lloyd Blankfein sees `bubble elements’ in markets thanks to ‘free’ money
Former Goldman Sachs CEO Lloyd Blankfein sees speculative elements across markets for stocks and bonds. Blankfein, a billionaire who served as Goldman’s CEO from 2006 to 2018, said Thursday on Squawk Box that low interest rates were essentially creating free...
Euro Heads Lower in Indecisive Markets, Aussie Firmer
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move...
Consumers’ ‘savings buffer’ accumulated during pandemic could help aid the economy without stimulus
Americans are saving more than ever during the pandemic, and Morgan Stanley says it may be enough to temporarily keep the economy on track after stimulus talks stalled in Washington. Morgan Stanley estimates that U.S. households have saved an extra...
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