Homebuilder sentiment posts biggest monthly surge ever, a sign housing is rebounding from coronavirus
A faster-than-expected turnaround in homebuyer demand, following a sharp drop-off at the start of the coronavirus pandemic, has the nation’s homebuilders bullish on their business again. Builder sentiment jumped a striking 21 points in June to 58, the largest monthly...
Powell says the Fed doesn’t want to ‘run through the bond market like an elephant’
Federal Reserve Chairman Jerome Powell said the central bank’s announced move this week to buy corporate bonds fulfills a pledge it had made earlier but is not an effort to take over the market. “It’s out of an excess of...
Bank of England to Ramp Up QE as UK GDP Collapses, Brexit Clock Ticking
As Britain faces its worst recession in 300 years, the Bank of England will be hoping to use its two-day policy meeting on June 17-18 to inject another dose of stimulus into the ailing UK economy. After the bigger-than-expected plunge...
EUR/USD Outlook: Euro in Defensive after Surprise Retail Sales Beat Inflates Dollar
The Euro fell in early US trading on Tuesday after massive US retail sales surprise (May 17.7% vs Apr -14.7 and 8.0% f/c) inflated dollar. Significantly better than expected data sideline expectations for Fed introducing negative interest rates that would...
JP 225 Index Restores Positive Tone with Bounce off 23.6% Fibonacci
JP 225 stock index (Cash) yesterday bounced off the 21,431 mark, that being the 23.6% Fibonacci retracement of the up leg from 15,384 to 23,302, resuming the uptrend by climbing above the 200-day simple moving average (SMA). The Ichimoku lines...
Selling Focus Turns to Euro as Dollar Turns Mixed
Dollar turns mixed in early US session as selloff turns to Euro today. New Zealand Dollar is the second weakest as the country’s coronavirus -free days ended. Yen, Dollar and Swiss Fran are not performing well, though, as markets remains...
Risk Appetite Finding Fresh Legs But Several Geo-Political Incidents Murmur In Background
Notes/Observations Stimulus talk and various govt efforts to support companies impacted by the coronavirus outbreak. aid risk appetite Geo-political clouds on horizon as North Korea blows up liaison office; China-India ‘violent’ skirmish on border with casualties BOJ saw interest rates...
EUR/GBP 4H: Buy Signals
The common European currency surged by 145 pips or 1.63% against the British Pound during last week’s trading sessions. The currency pair was guided up by the 200– period simple moving average. All things being equal, the exchange rate could...
Another U-Turn in Sentiments on Fed, Dollar Back Under Pressure
Sentiments took another U-turn as Fed did the trick again, with expansion of its asset purchases. Asia markets surge broadly, following the strong rebound in US overnight. Dollar, Yen and Swiss Franc are back under pressure. But New Zealand Dollar...
BOE to Expand QE and Discuss Negative Rates
Although there are signs that the coronavirus outbreak in the UK is stabilizing, its economic impact has just been emerged. Record contraction in GDP, sharp slowdown in inflation and weak employment indicators suggest that the BOE would have to maintain...
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