Budget deficit to hit record $3.3 trillion due to virus, recession
The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office...
Oil Suffers A Pipeline Burst, Gold Slips
Oil falls sharply as US dollar recovers Oil markets endured their most torrid day in weeks as a rotation out of risk positioning, and a stronger US dollar weighed heavily on energy markets. Again, the price action overnight looks to...
GBP/USD: Watch 1.3250
Pivot (invalidation): 1.3370 Our preference Short positions below 1.3370 with targets at 1.3280 & 1.3250 in extension. Alternative scenario Above 1.3370 look for further upside with 1.3405 & 1.3445 as targets. – advertisement – Comment The RSI calls for a...
Dollar Firm as Rebound Continues, Yen Following
Dollar stays firm as recovery continues while Yen is following as the second strongest. While US stocks continued their record run overnight, Asian markets are generally in red outside of Japan. As for today, Euro is currently the worst performing,...
It sure feels like the easy money has been made from the rally, PNC’s Amanda Agati says
PNC Financial’s Amanda Agati is positioning for a challenging fall. Agati, the firm’s chief investment strategist, questions whether the market can move meaningfully higher with uncertainty relating to the presidential election, the coronavirus’ path and effectiveness of vaccine trials churning...
Job growth appears stuck in neutral after enhanced unemployment expired, data shows
Philadelphian’s rallied at City Hall to demand Congress return and come to a deal on unemployment in Philadelphia, PA, on August 20, 2020. NurPhoto | NurPhoto | Getty Images Private data sources that have tracked the unemployment recovery showed that...
Nonfarm Payrolls: An Asymmetric Event?
The US employment report for August will be released at 12:30 GMT Friday, and forecasts suggest the economy continued to recover jobs at a healthy clip. For markets though, this data set might present an asymmetric risk, with a negative...
Oil Market and Gas Price History by President
When it comes to the market, do past presidents provide precedent? We weigh in on the oil market and gas price history by President. Oil & gas: Do past presidents provide precedent? As arguably the planet’s most important commodity, the...
US 100 Index Rallies to Fresh Record Highs, Near Overbought Territory
The US 100 index has been completing new record highs over the last three consecutive days, edging towards the 12,465.02 number. According to the stochastics, positive momentum could push for further gains in the short-term as the indicator picks up...
Private payrolls grow by 428,000 but miss expectations, ADP report says
Private payroll growth came in well below expectations for August, according to a report Wednesday from ADP, whose job tallies have differed widely from the government’s during the coronavirus pandemic. Companies added 428,000 jobs during the month, well below the...
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