Aussie Recovers as Markets Pare Back Expectations on Imminent RBA Cut
The markets are relatively quiet in Asian session with an empty economic calendar. Aussie recovers mildly as markets are paring back expectations of imminent RBA rate cut in October. Even Westpac pushed back the forecast to November as the theme...
EUR/USD Gaining Bearish Momentum Below 1.1700
Key Highlights EUR/USD extended its decline below the key 1.1700 support region. A crucial resistance seems to be forming near 1.1740 on the 4-hours chart. GBP/USD declined below the 1.2820 and 1.2750 support levels. Gold price is facing an increase...
The ‘black hole’ of unemployment benefits: Six months into the pandemic, some are still waiting for aid
Sam Fornasiero Sam Fornasiero For an instant, luck seemed to change for Sam Fornasiero. The 21-year-old’s phone call was put on hold — a noteworthy improvement relative to the 2,000-plus prior attempts to reach New Jersey’s unemployment bureau, by his estimation....
More Evidence Still Needed for Dollar’s Strength and Aussie’s Weakness
Dollar and Yen ended as the strongest ones last week as global stock markets tumble. There were concerns over resurgence in coronavirus infections in Europe, with worries over a return to lockdown. Though, the US markets ended not too badly...
CFTC Commitments of Traders – NET SHORT in USD Index Futures could Trim Next Week on Strong Rebound in Greenback
As suggested in the CFTC Commitments of Traders report in the week ended September 22, NET SHORT for USD Index futures increased -906 to 9 146 contracts. Speculative long positions dropped -1 424 contracts and short positions slipped -518 contracts....
Weekly Economic and Financial Commentary: Eurozone Recovery Threatened by Surging COVID Cases
U.S. Review More Strong Housing Numbers Existing home sales rose 2.4% to a 6.0-million unit annual pace. The surge in sales further depleted inventories and pushed prices sharply higher. The IHS Markit Purchasing Managers’ survey noted that manufacturing conditions improved...
The Weekly Bottom Line: More Evidence of Recovery Shifting into Slower Gear
U.S. Highlights Major U.S. equity markets edged lower this week, extending their losing streak to four weeks. This came alongside an uptick in new COVID-19 cases and growing evidence that the economic recovery has shifted into lower gear. Existing home...
Week Ahead: US Presidential Debate and Non-Farm Payrolls
Central Bank speakers were out in full force last week talking about monetary policy stimulus and how they all have plenty of room to ease, if needed. US/China relations continue to be threatened, this time as China steps up its...
Week Ahead – Let the Debates Begin!
Prepare for turbulence For a long time we’ve been warned that the final months of the year will be extremely eventful and if recent weeks are anything to go by, that may be an understatement. With the US election fast...
Stocks making the biggest moves midday: Tesla, Costco, Royal Caribbean & more
Tesla vehicles are displayed in a Manhattan dealership on September 08, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading: Bristol-Myers Squibb — Shares of the pharmaceutical company rose 1.2%...
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