USD/JPY Nosedives Below 105.00 After Disappointing US GDP
Key Highlights USD/JPY settled below the main 106.00 support and dived below 105.00. Key resistances are forming near 105.00, 105.40 and 106.00 on the 4-hours chart. The US GDP contracted 32.9% in Q2 2020 (Preliminary), way more than the last...
Major banks are giving new graduates virtual introductions to careers in finance
College students have been hit doubly hard by the coronavirus pandemic, and face disruptions to both their studies and job prospects. With hiring stalled at many companies — and more still operating remotely — many new graduates have been forced to put...
FX survey 2020: JPMorgan dominates with more than 10% market share
JPMorgan’s market share of 10.78% in this year’s survey was up from 9.81% in 2019 and well ahead of UBS with 8.13%. XTX and Deutsche Bank were not far behind, but then it is quite a gap to last year’s third-placed Citi...
Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown
The U.S. economy saw the biggest quarterly plunge in activity ever, though the plummet in the second quarter wasn’t as bad as feared. Gross domestic product from April to June plunged 32.9% on an annualized basis, according to the Commerce...
‘King Dollar’ Falls from Grace, Growth Concerns to Blame?
The world’s reserve currency took a beating lately, as the resurgence of infections in the US painted a darker outlook for the nation’s economic recovery and sparked expectations for more action by the Fed. But FX is a two-way game,...
US: A Record-Setting Decline in GDP as COVID-19 Struck
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
Risk Sentiments Weaken on Record GDP Contractions, Canadian Follow Oil Lower
Commodity currencies are general under pressure today, following global stock markets lower. Record Q2 GDP contraction in Germany and US are weighing on sentiments. Rebound in jobless claims add to concern of double dip recession. US futures also tumble after...
U.S. weekly jobless claims rise for a second straight week, total 1.434 million
The number of Americans who filed new claims for unemployment benefits last week totaled 1.434 million, the Labor Department reported Thursday, roughly in line with expectations, as the coronavirus pandemic continues to ravage the U.S. economy. It was the 19th straight...
XAU/USD Analysis: Supported By 55-Hour SMA
Yesterday, the XAU/USD exchange rate tried to exceed the 1,970.00 level. During Thursday morning, the rate was testing the support provided by the 55-hour SMA near 1,955.00. If the given moving average holds, it is likely that some upside potential...
USD/JPY Analysis: Consolidates Near Fibo 23.60%
On Wednesday, the USD/JPY currency pair consolidated near Fibo 23.60% at 105.03. During today’s morning, the pair maintained its consolidation. It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the...
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