Dollar Dips on PPI, Supported by Fed Powell
Dollar stays generally soft today so far but weakness is relatively limited. Some selling pressure was seen as poor PPI inflation data. But Fed chair Jerome Powell’s comments on negative interest rates is giving the greenback a slight pop. For...
GBP/USD Touched 1.2260
Yesterday, the GBP/USD exchange rate declined to the 1.2260 level. During Wednesday morning, the rate was trying to surpass the weekly and monthly S1s at 1.2290. If the given resistance level holds, it is likely that a reversal south could...
Kiwi Dives after RBNZ, Fed Officials Talk Down Negative Rates
New Zealand Dollar drops broadly today following RBNZ’s decision to nearly double the QE program, and indicates its openness to negative rates. Australian Dollar is following as a distant second weakest. The sharp decline in US stocks overnight doesn’t carry...
Asia Morning: US Stocks Lower On Health Official’s Warning
On Tuesday U.S. stocks gave up early gains to close in negative territory, as market sentiment was dampened by a top health official’s warning on reopening the economy. . In a remote testimony to Congress, Anthony Fauci, the director of...
Difficult jobs market may spark radical, multiyear shift in Americans’ spending habits: Barclays top economist
The historic consumer price drop in April may be more than a temporary setback. Michael Gapen, Barclays’ head of US economics research, warns widespread job losses due to the coronavirus pandemic is radically changing Americans’ spending habits. He suggests the...
Stocks making the biggest moves midday: Grubhub, Casper Sleep, BlackRock, Datadog and more
Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading. GrubHub, Uber — Grubhub shares soared more than 36% on news that ride-hailing company Uber has approached the company with a takeover bid. Uber’s offer comes...
Stocks Seesaw, OPEC+ Cuts Here to Stay, Gold Rallies, Bitcoin Stable Post Halving
US stocks continue to rise as investors weigh renewed trade tensions, reopening momentum, the Fed’s purchases of corporate debt ETFs and the core consumer-price index’s record decline. Trade Tensions It seems trade jabs are likely to be mostly political theater...
EURCHF’s Negative Tensions Sustain the Pair Near a floor
EURCHF is currently in the region of the multi-year low of 1.0504 restricted by the flattened Ichimoku lines. Despite negative pressures from the simple moving averages (SMAs) – specifically the 50-period SMA – and the Ichimoku cloud, the price is...
Dollar Tumbles on Record Core CPI Decline, and Improving Sentiments
Dollar is sold off notably in early US session after data showed record decline in core inflation reading. In the background, sentiments also improved mildly on WHO’s “potentially positive data” comments. Following Dollar, Canadian is the second weakest for the...
Crude Oil Consolidation In Place
Pivot (invalidation): 25.10 Our preference Short positions below 25.10 with targets at 23.70 & 23.35 in extension. Alternative scenario Above 25.10 look for further upside with 25.55 & 26.00 as targets. – advertisement – Comment As Long as 25.10 is...
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