AUD/USD Outlook: Optimistic Fundamentals Prevent Deeper Pullback For Now
The Aussie remains bid ion Thursday despite double failure at 200DMA (0.6657), underpinned by fresh optimism that economic downturn over pandemic lockdown may be less severe than feared. This so far fades negative signals on repeated upside rejection that may...
Asia Mixed With Eyes on US-China Tensions Over Hong Kong
Asian markets continued to ignore risk rally in US and trade mixed today. Sentiments are mildly weighed down by US-China tensions over Hong Kong. But reactions are so far limited. Euro and Dollar are mildly firmer in Asian session but...
USD Finds Strength Against Its Majors
The US Dollar was bullish against most of its major pairs on Wednesday with the exception of the EUR. On the economic data front, the Mortgage Bankers Association’s Mortgage Applications increased 2.7% for the week ending May 22nd, from -2.6%...
Tech stocks should thrive despite rotation into value, market bull John Stoltzfus says
A major market shift is forming as the economy begins to reopen: Value stocks are gaining popularity over growth names, including technology. But according to Oppenheimer Asset Management’s John Stoltzfus, that doesn’t mean the winners will automatically become losers. The...
In C-Reits, China sees chance to steady the ship
China has approved its first onshore real estate investment trusts, in an attempt to channel fresh capital into infrastructure projects and give its ailing economy a much-needed boost. A pilot scheme will be rolled out in the second half of...
Have Stocks ‘Gotten Over’ the Virus?
There’s been a lot of talk for a powerful V-shaped recovery, but that has only happened in the stock market, which is ignoring the rising economic and geopolitical risks and is instead plowing higher, powered by a tsunami of stimulus....
USD/JPY Testing Key Resistance at 108.10 Following Another $1T+ Japanese Stimulus Package
During today’s Asian session, Japan’s Prime Minister Shinzo Abe and his cabinet approved another ¥117T (USD $1.1T) stimulus package including subsidies to help firms pay rent, financing help for struggling companies, support for local economies, and health care assistance. This...
Mortgage demand from homebuyers shows unexpectedly strong and quick recovery, as applications spike 9% from a year ago
It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected. Mortgage applications to purchase a home rose 9% last week from the...
Coronavirus crisis mobile banking surge is a shift that’s likely to stick
Stephan Drescher | E+ | Getty Images Digital banking isn’t new, but with the coronavirus pandemic, young and old Americans suddenly flocked to online and mobile banking en masse. The sudden uptick in online and mobile traffic even created outages....
Euro Flies High on EU New Generation Recovery Plan
Euro surges broadly today as traders more than welcome the new EU pandemic recovery plan. Canadian Dollar is currently the second strongest while the greenback is the third. Strength in Euro appears to have prompted some selloff in Sterling as...
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