Gold Drifts Above The 1724 Technical Support
The precious metal did not make any major gains on Friday despite some stock market volatility. However, prices are firmly supported above the 1724 level for the moment. The precious metal attempted to make some gains but prices stalled near...
Asian Markets Lower on Beijing Coronavirus Cases and China Data
Asian markets open the week mildly lower on concerns of another coronavirus outbreak in Beijing. Meanwhile, disappointing economic data from China also weigh on sentiments. Yen, Swiss Franc and Dollar are trading generally higher. Aussie is leading commodity currencies lower....
Asia Morning: U.S. Stocks Rebound, But Unrest, Virus Concerns Remain
On Friday, U.S. stocks rebounded paring some losses caused in the sell-off on Thursday. The Dow Jones Industrial Average rose 477 points (+1.9%) to 25605, the S&P 500 gained 39 points (+1.3%) to 3041, and the Nasdaq 100 was up...
$600 unemployment benefits are ‘life-saving’ for this waiter: ‘I’m right at the edge’
Matt Marfoglia, a waiter at the Tasting Kitchen in Los Angeles, was furloughed in March. Enhanced unemployment benefits are helping him make ends meet financially, but they may end after July. Matt Marfoglia Matt Marfoglia was living paycheck to paycheck...
Sentiments Took a U-Turn on Fear of Coronavirus Second Wave
The second wave of coronavirus pandemic had finally become a main theme in the markets last week. Or, investors could have just waited for Fed to confirm its done with more easing for moment, and started profit taking. Either way,...
Pro traders scramble for protection in ‘warp speed’ market, spur quadrupling of S&P 500 hedge cost
A trader walks by the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images Traders...
Gold Rally: Worth to Hold Your Breath
During market stress periods, safe-haven gold tends to generate strong returns, outperforming other alternative means of investment and hence moving rapidly in traders’ favor as a store of wealth. This year thanks to the Covid-19 pandemic, the precious metal printed...
How the Stock Market Took Over the FX Market
Once upon a time in a pre-covid world, the currency market and the stock market were driven by different factors. Correlations between the two existed of course, but they were limited to a few pairs, like dollar/yen. Nowadays though, it...
Weekly Economic and Financial Commentary: The Risk of a Second Wave
U.S. Review The Risk of a Second Wave Lockdowns began to be lifted across most of the country by the end of May and the total amount of daily new coronavirus cases has been trending lower. But the flattening case...
The Weekly Bottom Line: Fed Projection Injects Markets With A Dose of Reality
U.S. Highlights Equity markets digested the possibility of a long and arduous economic recovery by pulling back this week. At the time of writing, the S&P 500 was down 4% from its close last Friday. The Fed’s updated economic projections...
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