Kiwi Down on Dovish RBNZ, Dollar Stays Soft
Risk appetite was firm overnight as NASDAQ made another record high. Yet, Asian markets are rather quietly treading water. New Zealand Dollar tumbles broadly today as dovish RBNZ hints on further easing. There are talks that the central bank would...
RBNZ Pledged to Expand QE and other Stimulus if Needed, as Risk to Outlook Skewed to Downside
As widely anticipated, RBNZ left the OCR unchanged at 0.25%. The size of QE also stays unchanged at NZD60B. Policymakers acknowledged that the spread ofcoronavirus is under control in the country for now. They also saw reasons for being more...
Major bank turns bullish on global stocks despite a resurgence in coronavirus cases
It may be time to add global exposure to your portfolio. UBS Global Wealth Management’s Alejo Czerwonko sees upside going abroad despite a surge in coronavirus cases. “We expect them to be fairly well-handled by health systems worldwide,” the firm’s...
Homebuilders see strongest May sales in over a decade, but they have a big problem
Sales of newly built homes jumped far more than expected, up nearly 13% annually, according to the U.S. Census. After slowing dramatically in March, as the coronavirus shut down the economy, they posted the strongest May pace since 2007, a...
Stocks making the biggest moves midday: Apple, Penn National Gaming, Spotify, Peloton & more
Customers distance before entering an Apple Store during phase one of reopening after the COVID-19 lockdown in New York City, New York, U.S. June 17, 2020. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Apple...
PrimaryBid triumphs in retail campaign
All investors matter. That was the title of an open letter, posted back in April by app-based retail platform PrimaryBid to the boards and managements of UK companies, then pouring out emergency capital raisings in a desperate effort to re-enforce...
Navarro’s Gaffe, PMI Rally, Oil Momentum Builds, Gold Surging
After a chaotic hour overnight, White House Adviser Navarro’s gaffe was quickly refuted and clarified, allowing the US stock rally party to continue. President Trump’s quick response to confirm the China trade deal is fully intact, told financial markets that...
EURCHF Exhibits Signs for Continued Consolidation
EURCHF found a foothold at the 1.0635 level, that being the 23.6% Fibonacci retracement of the down leg from 1.1058 to 1.0504. The pair was unable to sustain the correction that extended above the 200-day simple moving average (SMA) and...
USDCAD Fails to Surpass Flat SMAs; Negative in Medium Term
USDCAD looks to be flat over the last two weeks but is now penetrating the 23.6% Fibonacci retracement level of the down leg from 1.4170 to 1.3315 at 1.3518, inside the Ichimoku cloud. Also, the price holds beneath the 20-...
Selloff in Yen and Dollar Intensifies as PMIs Paint Recovery Optimism
Selloff in Yen and Dollar intensifies mildly today while Australian Dollar and Euro are picking up some rally. Investors sentiments are generally lifted by better than expected PMIs. In particular, France and Australia appear to be back in expansion. European...
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