USD/JPY Breach Rising Wedge Pattern
On Thursday, the USD/JPY currency pair tested the lower line of the falling wedge pattern. During today’s morning, the pair breached the given pattern south. It is unlikely that some upside potential could prevail in the market due to the...
Hong Kong Leads Global Markets Lower As Tensions Spike
Risk aversion deepens as China announces new security laws in Hong Kong Dollar and yen edge higher, global stocks sell off on fears of US retaliation Range breakouts rejected across multiple charts – S&P 500, euro, aussie, loonie Hong Kong...
Country risk: India’s Covid-19 hit may turn it to junk
India’s investor prospects deteriorated more than any other Asian country in the first quarter of 2020, according to Euromoney’s country risk survey. It shed 3.22 points from its risk score tally, extending a trend 10-year decline to 7.75 points, resulting...
Markets in Risk Aversion Over Hong Kong’s Future, Yen and Dollar Rebound
Yen and Dollar surge in Asian session today as markets are clouded by new uncertainty over Hong Kong’s future. The situation carries significance firstly on the direction of US-China trade tension. Secondly, Hong Kong’s international financial hub status could be...
China decides not to set a GDP target for 2020 as coronavirus batters the economy
Chinese Premier Li Keqiang delivers his work report during the opening session of the National People’s Congress at the Great Hall of the People in Beijing on May 22, 2020. LEO RAMIREZ | AFP via Getty Images BEIJING — China...
USD/JPY Facing Many Hurdles On Daily Chart Near 108.40
Key Highlights USD/JPY started an upside correction above the 107.00 resistance. A crucial resistance is forming near 108.00 and 108.40 on the daily chart. EUR/USD outperformed and broke the 1.0950 resistance zone. The US Initial Jobless Claims in the week...
May unemployment looks worse than expected, signaling another bad jobs report could be coming
State reopenings have not yet helped stem the rise in unemployment, which is expected to show another big jump in the month of May. Weekly jobless claims totaled 2.4 million for the week ending May 16, bringing the total number...
Mitch McConnell says next coronavirus bill will not extend enhanced unemployment benefits
Senate Majority Leader Mitch McConnell, a Republican from Kentucky, speaks during a news conference following the weekly Senate Republican caucus luncheon in Washington, D.C., U.S., on Tuesday, May 19, 2020. Stefani Reynolds | Bloomberg | Getty Images Senate Majority Leader...
Watch Fed Chairman Jerome Powell live at a ‘Fed Listens’ event
[The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell is leading a “Fed Listens” public forum on central bank...
Second wave of coronavirus infections could cause a worse economic disaster, experts warn
The U.S. economy has faced a substantial loss due a nationwide shutdown. On April 29, the Bureau of Economic Analysis reported that the gross domestic product shrank by 4.8% in the first quarter, the lowest it’s been since the worst...
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