Fed’s Rosengren reports ‘tremendous interest’ from businesses for loan program
The Federal Reserve is seeing high demand for its business loan initiative put in place to help smaller companies get through the coronavirus-induced recession, Boston Fed President Eric Rosengren said Friday. As the Main Street lending facility wraps up its...
Canadian Dollar Shrugs Terrible Retail Sales, Taken Mildly Higher by Oil Price
Sterling remains the weakest one among the major currencies as selloff continues. Though, Dollar and Yen are catching up today while markets turned back into risk-on mode. Commodity currencies are generally firmer as led by Aussie. Even Canadian Dollar shrugs...
Silver Remains Positive, Bounces On 200-Day SMA
Silver is attempting to push back above the 17.58 key mark, after a retracement from the 18.36 peak bounced off the 200-day simple moving average (SMA). The recent bullish crossover of the 100-day SMA by the rising 50-day one may...
Friday Rally On Lagarde’s Push For Fiscal Stimulus And China Pledge To US, Commodities Rally
European stocks and US equity futures are climbing higher on ECB President Lagarde’s warning to EU leaders of market risks if the EU can’t quickly agree upon the EU recovery fund and after China pledged to follow through with the...
UK 100 Index Attempts To Climb Above 23.6% Fibo
The UK 100 cash index is pushing efforts to extend buying pressure above the 23.6% Fibonacci retracement level of the up leg from 5,639 to 6,510 at 6310, having climbed above the bullish crossover within the 20- and 40-period simple...
NZD/CAD 4H Chart: Traded Sideways
The New Zealand Dollar has been trading sideways against the Canadian Dollar since June 5. The currency pair consolidated between the 0.8800/0.8700 level during the past two weeks. Technical indicators flash mixed signals on both the smaller and the larger...
NZD/JPY 4H: Breakout Occurs
The New Zealand Dollar has declined by 303 pips or 4.23% against the Japanese Yen since last week’s trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern on June 18. Given that a breakout had...
US 30 Stock Index Keeps Uptrend Safe, But Doubts Rise
The upward pattern in US 30 stock index (cash) lost some shine after the print of a lower high at 26,791 in the four chart, but the positive trend remains valid as long as the market action develops above 24,850....
GBP/USD Outlook: Post-BoE Negative Sentiment Remains In Play Despite Upbeat UK Retail Sales
Cable extends weakness on Friday after recovery attempt on much better than expected UK retail sales were short-lived. Near-term sentiment remains weak as Bank of England’s decision to increase QE program by 100 billion pounds and hints of slowing down...
Asia and coronavirus: The road to health
A common metaphor in economic literature likens problems in economies to maladies that afflict human bodies: ‘the health of the economy’; ‘the sick man of Asia’; ‘the body politic’. It is not an encouraging comparison. Middle-aged readers trying to stay...
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