Markets Shrug Rebounding Jobless Claims, Sterling Lower on Brexit Stalemate
Sterling tumbles broadly today as another round of Brexit negotiations ended without making any significant progress. Though, Aussie is even weaker as traders are finally taking profits on this week’s strong rally. Swiss Franc, on the other hand, rebound strongly,...
Weekly claims turn higher as coronavirus jobs crisis adds more pain
The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic continues to batter the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for the...
EURJPY Retreats after Reaching 7-week High
EURJPY is on the sidelines after it reached a fresh seven-week high around 124.28 and it looks ready for a possible pull back. Technically, the RSI is returning lower after it climbed to the overbought zone, while the stochastic is...
USDCHF Surrenders To Bears, Nearby Support Eyed
USDCHF is bearishly exposed to the nearby 0.9258 support level after failing to crawl above the 61.8% Fibonacci retracement level of the March rally last week. The technical indicators are framing a discouraging picture for the short-term too, as the...
Stock Rally Despite Mixed Corporate Earnings
US stocks have returned to growth after a wobbling session on Wednesday. During the turbulent session, investors focused on mixed quarterly reporting and the debate over further stimulus. The benchmark S&P 500 index rose 0.62%, and Dow added 0.57%. Nasdaq...
Dollar and Yen Weak after Steep Selloff, No Bottoming in Sight Yet
Investors in Asia remain generally cautious today as reflected in the mixed markets. US-China tensions look set to escalate further after President Donald Trump said closure of other Chinese missions is “always possible”. Yet, the developments give no special support...
SGX’s Nasdaq tie-up is a bid to stem exchange’s outward flows
A new cooperation agreement between Singapore Exchange Regulation, the regulatory arm of the Singapore stock market, and Nasdaq aims to streamline a framework for dual listings on the two bourses. Singapore needs this much more than the US does –...
Senate GOP, White House reach tentative $1 trillion pact to break coronavirus aid logjam
U.S. Treasury Secretary Steven Mnuchin prepares to testify before the House Small Business Committee at the U.S. Capitol on July 17, 2020 in Washington, DC. Kevin Dietsch | Getty Images Senate Republicans announced Wednesday evening that they have “reached a...
Gold Price Is Just Shy Of A New All-Time High
Key Highlights Gold price rallied significantly above the $1,820 and $1,850 resistance levels. A new multi-year high is formed near $1,876 and the price is a few steps away from a new all-time high. A crucial bullish trend line is...
U.S. is on a collision course with a double-dip recession, economist Stephen Roach warns
Economist Stephen Roach warns V-shaped recovery mania on Wall Street is leading investors astray. According to Roach, the U.S. is on a collision course with a second dramatic downturn. “The odds of a relapse, not just the virus but in...
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