Euro Softens as Markets Await ECB, Dollar in Weak Recovery
Dollar recovers mildly in general as recent selloff is losing some momentum. The recovery is also accompanied by mild retreat in Euro as well as some weakness in Gold. Though, the strength of Dollar’s recovery is far from being strong...
BOC Turns More Optimistic About Economy, Scales Back Term Financing
Turning more optimistic on the economic outlook, BOC scaled back some term financing facilities, while leaving the policy rate and QE programs unchanged. Policymakers suggested that the impacts of the coronavirus pandemic have peaked, despite ongoing uncertainties. The members have...
Market’s make or break moment in one chart – Economic forecaster Lakshman Achuthan draws parallels to the opposing 2001 and 2009 recoveries
The last two recessions may help determine what’s next for the recent market rally. Economic Cycle Research Institute co-founder Lakshman Achuthan has narrowed the possible recovery paths into two scenarios: The dot.com bubble collapse and financial crisis aftermath. Achuthan builds his...
‘The Covid-19 recession is over,’ says economist Zandi as May job losses not as bad as feared
A waiter wearing a mask and gloves delivers food to a table to customers seated at an outdoor patio at a Mexican restaurant in Washington, DC, May 29, 2020. Saul Loeb | AFP | Getty Images Finding good news in...
This is the greatest 50-day rally in the history of the S&P 500
The S&P 500 has returned 37.7% over the last 50 trading days, making it the benchmark index’s largest 50-day rally in history, according to LPL Financial. And if history is any indication, there could be more gains ahead. Looking at...
GBPJPY’s Postponed Rally Attempts to Resume Gains
GBPJPY is in the process of breaking above the 136.93 level – that being the 61.8% Fibonacci retracement of the down leg from 144.94 to the 41½-month low of 123.97 – and the nearby 137.19 barrier. The pick up in...
The Bank of Canada Holds Rates, Maintains Asset Purchases
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
EURGBP Sellers Take Control, Obstructing Advances
EURGBP’s recent ascent to 0.9054 seems to have stalled, reversing back down to the 0.8889 level, that being the 50.0% Fibonacci retracement of the up leg from 0.8281 to the 11-year peak of 0.9498. The current inactive demeanour within the...
IIF says policy fragmentation slowing sustainable finance
The Institute of International Finance (IIF), which has 450 members from banks to central banks, is calling for greater international alignment of sustainable finance policies and regulation to better support the transition to a sustainable economy. In a paper published...
Private payrolls decline by 2.76 million in May, ADP says, a much smaller drop than feared
Companies trimmed another 2.76 million workers in May as the coronavirus pandemic continued to slice through the U.S. economy, according to a report Wednesday from ADP. Job losses were especially deep in large businesses, which reported a decline of more...
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