USDCAD Conveys A Dominant Negative Bias
USDCAD has somewhat paused after the pullback from the near 8-month low of 1.2993. The rebound in the price appears to be resting on the mid-Bollinger band at 1.3131, shadowed by a governing bearish structure. The dictating downward sloping 50-...
US Equities Fall Again After Weak Housing Data
US equities ended the day lower as traders reacted to central bank decisions and relatively weaker data from the US. On Wednesday, the Fed decided to leave its policies unchanged. It also signalled that rates would remain that low for...
Dollar Rally Fades, Sterling Pares Losses, Yen Still Firm
Dollar is back trading as the weakest one for the week as it’s earlier rally attempt faded quickly. Though, Euro and Swiss Franc are not too far behind as the next weakest. Yen is also paring some of this week’s...
Bullish market activity in 2021 will cost jobs, $7 billion money manager predicts
Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021. But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market. “Companies are...
Climate change is fueling wildfires in the West, ravaging local economies
Bobcat fire approaches Sierra Madre and Arcadia communities in California, U.S., September 13, 2020 in this picture obtained from social media. Photo taken September 13, 2020. John Mirabella | Reuters Despite official resistance to the idea in the Trump administration,...
Claims Improve But Show Recovery Stalling, BOE Debates Going Negative
Claims improve but show recovery is stalling, BOE debates going negative, OPEC+ could do more in Oct, Gold’s post-Fed hangover Economic momentum continues to fade as many Americans continue to file new claims for Pandemic Unemployment Assistance, benefits offered to...
Jobless claims were lower than expected but employment growth is still sluggish
First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had...
Sterling Plummets as BoE Hints on Negative Rates, Yen Surges
Sterling drops broadly today as BoE minutes indicated that the central bank is already discussing implementation negative interest rates. On the other hand, Yen is currently the strongest one, extending this week’s strong rally. Risk aversion and falling treasury yields...
BOE Voted 9-0 to Keep Policy Unchanged. Signaled to Discuss with Regulator about Negative Rate Implementation
BOE voted unanimously to leave the Bank rate unchanged at 0.1%. The asset purchase program also stayed at 745B pound in September. At the meeting, policymakers acknowledged stronger-than-expected recovery in the UK. Yet, they reiterated that the outlook remained highly...
EURGBP Could Provide The Bulls A Second Chance
EURGBP pulled back below the 0.9290 resistance for the second time this year but the bulls may have a second chance to retake control as the pair is exposed to a key supportive area. The 50% Fibonacci retracement of the...
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