Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%
Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday. Economists surveyed by Dow Jones had been expecting a 2.9...
WTI Oil Outlook: WTI is on Track to Form the Third Straight Doji as Conflicting Signals Keep Near-Term Action Directionless
WTI continues to trade around $40 handle on Thursday, extending narrow-range movements into third straight day and on track to leave third consecutive daily Doji candle. Conflicting signals keep oil price in directionless mode as sharp drop in US crude...
Solid Jobs Report and Relentless Reopening Optimism Drive Stocks and Oil Higher, Gold and Dollar Slump
The US economy continues to head in the right direction. Financial markets are heading into a long weekend on a high note after a blockbuster jobs report showed 4.8 million jobs were created, the most since records began in 1939....
As Tidjane Thiam leaves, Credit Suisse has much to be grateful for
Credit Suisse’s Tidjane Thiam and Urs Rohner Yesterday evening the board of directors of Credit Suisse unanimously accepted the resignation of chief executive Tidjane Thiam. The official announcement does not make clear whether or not they were also unanimous in...
Strong NFP Lifts Stock But Not Dollar, Yen Weakens
Strong employment data from the US boosts market sentiments as DOW future is up over 400 pts at the time of writing. European indices are also extending gains. The greenback however, shrugs of the data and it’s trading as the...
Mortgage demand falls for the second straight week, signaling a potential slowdown in the housing recovery
The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop. Mortgage applications to purchase a home fell for the second straight week, down 1% from the previous...
EURJPY Cautiously Positive Above SMAs
EURJPY appears somewhat optimistic despite the recent consolidation in price above the 200-period simple moving average (SMA). Positive signals include the price having moved above the SMAs and the Ichimoku cloud, while the Ichimoku lines stall their positive tone. Furthermore,...
Oil Prices Climb But Gold Unsteady
Oil surges on falling US crude inventories US official crude inventories unexpectedly fell by 7.2 million barrels overnight, much higher than the forecast 0.7-million-barrel drawdown expected. Combined with reports of oil moving out of floating storage, and strong manufacturing PMI...
Fed’s Bullard warns of financial crisis risks as virus cases spike, FT reports
James Bullard Olivia Michael | CNBC St. Louis Federal Reserve Bank President James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. “Without more granular...
Sterling Could Steal the Show From Dollar as Focus Turns to NFP
Dollar and Yen are both trading as the weakest ones for the week for now. FOMC minutes released overnight gave little support to the greenback, nor that ADP job number and ISM manufacturing. Focus is turning to non-farm payrolls report...
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