While 21 million Americans were unemployed as of May, long-term joblessness hasn’t seen an uptick
Unemployment levels over the past two months have been the worst since the Great Depression era. Yet there’s room for optimism. One reason: Long-term unemployment in the U.S. hasn’t yet seen an uptick. But long periods of joblessness — those exceeding...
NZD/USD Likely To Slide Lower
The New Zealand Dollar surged by 62 basis points or 0.95% against the US Dollar on Monday. The currency pair tested the upper boundary of an ascending channel pattern. Technical indicators suggest buying signals on both the smaller and the...
Yen Firm after Strong Rebound, Ignore Stocks Rally
Yen surges broadly this week and remains generally firm in Asian session. Pull back in treasury yield is seen as a factor driving the Yen higher. Yet, the lack of selling in Yen despite strong risk appetite, with NASDAQ extending...
FOMC Preview – Standing Ready to Add Stimulus Despite Signs of Recovery
While we do not expect any change in monetary policy at the June FOMC meeting, there are a number of things that should be watched for. Chair Jerome Powell will discuss the economic outlook and the monetary policy stance at...
Asia Morning: Nasdaq 100 Index At Record For Second Day
On Monday, U.S. stocks charged higher as investors’ appetite for risky assets was boosted by the surprisingly upbeat May jobs report. Investors’ confidence was also boosted by the Federal Reserve’s announcement of widening its Main Street lending program. For a...
Astonishing market moves: Retailer Michaels surges a record 58% on a JPMorgan upgrade
Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Arts and crafts retailer Michaels Stores is having its best day ever. The reason behind this monster move was a simple bullish call from JPMorgan. Shares...
The U.S. entered a recession in February, according to the official economic arbiter
New Jersey First Lady Tammy Murphy hands out bags containing meals, face masks and other personal protective supplies to residents in need outside the NAN Newark Tech World during the outbreak of the coronavirus disease (COVID-19) in Newark, New Jersey,...
Currency Pair of the Week: EUR/USD
The EUR/USD has had quite a run over the last few weeks, trading from a low of 1.0800 on May 18th to a high of 1.1385 on Friday. Will this run continue or is it time for a correction? Last...
WTI Oil Outlook: WTI Price Dips after Saudi and Gulf Allies Announced Halt of Voluntary Additional Production Cuts
WTI oil dipped on Monday (down around 3% since Asian opening) on Monday after unsuccessful first attempt through psychological $40 barrier. Oil prices were inflated by the decision of OPEC+ group over the weekend to extend its existing agreement for...
FX: EU harmony strikes right note for single currency
By the time European Union leaders announced on July 21 that they had agreed a €750 billion package to help member states recover from the impact of coronavirus, EUR/USD had risen to 1.1475 from 1.1176 just a month earlier. Expectations...
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