USD/JPY Remains Below Weekly R1
On Thursday, the USD/JPY currency pair tested the support formed by the 200-hour SMA and the monthly PP at 106.02. During today’s morning, the pair continued to test the given resistance. If the predetermined support holds, it is likely that...
GBP/USD Might Consolidate
Yesterday, the GBP/USD exchange rate tested the support level formed by the weekly and monthly PPs at 1.3250. During Friday morning, the rate reversed north. From the one hand, it is likely that some upside potential could prevail in the...
EUR/USD Tests Resistance Level
On Thursday, the EUR/USD currency pair reversed north from the lower line of the medium-term ascending channel. During today’s morning, the pair was testing the resistance formed by the weekly and monthly PPs, as well the 200-hour SMAs at 1.1860....
Gold Supported By The Rising Trend Line
The precious metal remains weak as price fell for the second day. However, the pace of declines was limited as XAUUSD is currently helped by the long term rising trend line. With the Stochastics oscillator in the oversold level and...
Is The Loud Market Selloff Just The Beginning?
The financial markets were pretty turbulent on Thursday. The Nasdaq100 lost 5% in one day, the biggest selloff since early June and the fifth largest one-day drop so far this year. The S&P500 and Dow Jones 30 lost noticeably less,...
Dollar to End Week as Strongest, Subject to NFP Reactions
Asian markets are generally in red following the steep corrective selloff in the US overnight. The forex markets are relatively steady though, with Dollar and Yen trading with a firm tone. Australian and New Zealand Dollars are the weakest ones,...
ECB Preview – Warning about Euro Strength with No Action Needed
ECB is expected to maintain the monetary policy measures in September. The focuses on the meeting include policymakers’ response to the recent strength in euro, the updated economic projections and ECB’s strategy review after Fed Chair Jerome Powell’s announcement at...
Chinese banks’ profits will weaken even more in the second half of 2020, says Fitch Ratings
People wait outside a Bank of China branch in Beijing on July 11, 2014. GREG BAKER | AFP | Getty Images Banks in China are likely to record greater declines in profits in the second half of this year as...
Unemployment benefits are less than minimum wage in many states
Carlos Ponce joins other demonstrators participating in a protest asking Senators to support the continuation of unemployment benefits on July 16, 2020 in Miami Springs, Florida. Joe Raedle | Getty Images Many states pay unemployment benefits to workers at a...
Downbeat Claims and Trade Data Keep Risky Assets Heavy, Commodities Slide on Strong Dollar
Wall Street’s rally is running out of steam amid worries the labor market recovery has stalled. The headline beat for weekly jobless claims needs to be taken with a grain of salt. After seasonal adjustments, initial jobless claims for last...
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