RBA Forecasts Double-Digit Contraction and Unemployment in First Half of the Year
As revealed in the latest Statement of Monetary Policy (SMP), RBA sharply cut economic forecasts for this year. GDP is projected to record double-digit contraction in the first half of the year before recovery in 2021. The unemployment rate could...
Dollar Softens on Negative Rate Talks, US-China Trade Deal Made Progress
Dollar turned weaker overnight as markets on talks that Fed could eventually go into negative interest rates. Safe haven flows also continued to recede in generally, with NASDAQ extending recent rebound, even though DOW’s rally was still capped. Australian Dollar...
USD/JPY Recovery Could Fail Near 107.00
Key Highlights USD/JPY traded to a new monthly low at 105.98 before correcting higher. A crucial bearish trend line is forming with resistance near 106.90 on the 4-hours chart. The US Initial Jobless Claims for the week ending May 02,...
Stocks making the biggest moves after hours: TripAdvisor, Motorola, Roku and more
Check out the companies making headlines after the bell. Booking Holdings — The travel booking service’s stock whipsawed in extended trading after the company released its first-quarter earnings. Booking Holdings said it had earnings of $3.77 per share excluding some...
Silver Retests 50-day SMA as Trend Optimism Rises
Silver is struggling to claim the 50-day simple moving average (SMA) but the bullish cross between that line and the 20-day SMA, although weak, is currently somewhat promising of an uptrend resumption. In order to attract buying interest and challenge...
NFP Preview: How Ugly Can it Get?
“That is a trick of human nature. We get used to things.” – Author R. J. Palacio Picture this scenario: On the first day of 2020, a time traveler appears in your living room with a dire warning. Without specifying...
Lloyd Blankfein says big companies should be ‘very reluctant’ to tap small business relief program
Lloyd Blankfein, the ex-Goldman Sachs CEO whose bank accepted bailout funds during the financial crisis, said that large companies should be “very reluctant” to take taxpayer money amid the coronavirus pandemic. “Big companies should be very reluctant to take government...
Yen Dips on Higher Stocks and Oil, Dollar Shrugs Job Numbers
Risk sentiments seem to have firm up again today despite rather poor economic data. Major stock indices in Europe are in black while US futures point to higher open. WTI crude oil is also extending recent rebound, with June contract...
US Futures Rebounding ahead of Jobless Claims Data, Watch PYPL, BMY, DXCM, DPZ
The S&P 500 Futures are posting a rebound after they closed mixed yesterday, as data showed the biggest reduction in private jobs on record. Later today, the U.S. Labor Department will report Initial Jobless Claims for the week ended May...
USDCHF’s Gains Struggle Within A Sideways Structure
USDCHF is currently tackling the 0.9767 high after finding some footing at the 0.9730 level, that being the 23.6% Fibonacci retracement of the up leg from the 56 ½-month low of 0.9182 to the three-month high of 0.9900, and the...
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