Can Gold Price Overcome This Hurdle To Continue Higher?
Key Highlights Gold price started a fresh increase from the $1,670 support. A key bearish trend line is forming with resistance near $1,732 on the 4-hours chart of XAU/USD. The US CPI increased 0.1% in May 2020 (YoY), less than...
The company that saved Barneys, Forever 21 while in bankruptcy says it’s time to ‘buy low, sell high’
Authentic Brands Group Chief Executive Jamie Salter. Source: Authentic Brands Group The company that has purchased retailers such as Aeropostale, Barneys New York and Forever 21 out of bankruptcy is looking for buying opportunities during the coronavirus pandemic. “My strategy...
Fed sees interest rates staying near zero through 2022, GDP bouncing to 5% next year
The Federal Reserve kept interest rates near zero and indicated that’s where they’ll stay as the economy recovers from the coronavirus pandemic. Along with the rate decision, central bankers projected Wednesday that the economy will shrink 6.5% in 2020, a...
USD/JPY Outlook: Dollar Remains Under Heavy Pressure ahead of Fed
The pair extends steep fall into third consecutive day (so far down 2.1% since Monday’s opening) as traders sell dollar ahead of Fed policy decision. Today’s weakness broke strong supports at 107.52/46 (30DMA / Fibo 61.8% of 105.98/109.85), with close...
U.S. consumer prices post third straight monthly drop
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic. The Labor Department said on Wednesday its consumer price index dipped 0.1%...
US Inflation Slowing to Multi-Year Lows
All items CPI slipped to 0.1% y/y; slowest since 2015 Gasoline prices 1/3 lower than a year earlier Core inflation continued to soften US inflation remained a tug-of-war between lower prices for goods and services consumers are buying less of...
Mortgage demand from homebuyers amazes again, now up 13% annually despite rising rates
Blake Nissen | The Boston Globe via Getty Images Rising interest rates did nothing to deter an onslaught of mortgage demand from homebuyers. Applications for loans to purchase a home rose 5% last week from the previous week and were...
More Signs of Dollar Weakness as Fed Awaited
Stock markets are generally mixed today as NASDAQ seems unstoppable. But other indices, in Asia, Europe and even US look sluggish. OECD noted the equal probability of having a second wave of coronavirus spread or not. But that’s largely ignored...
USD Weakens Ahead Of Fed’s Interest Rate Decision
The USD seems to have weakened against a number of its counterparts, just ahead of the Fed’s interest rate decision (18:00, GMT) later today. The bank is widely expected to remain on hold at the range of 0.0% to 0.25%...
GBP/USD Outlook: Cable Rises To New 3-Mth High, Firm Bullish Stance Above 200DMA
Cable hit new highest since 12 March (1.2786) in European trading on Wednesday after cracking important Fibo barrier at 1.2777 (76.4% of 1.3199/1.1409 fall). Fresh advance comes Tuesday’s long-tailed Doji and second consecutive daily close above 200DMA (1.2674) which signaled...
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