US weekly jobless claims hit 3.84 million, topping 30 million over the last 6 weeks
First-time filings for unemployment insurance hit 3.84 million last week as the wave of economic pain continues, though the worst appears to be in the past, according to Labor Department figures Thursday. Economists surveyed by Dow Jones had been looking...
Economy Slumps, ECB Eases Modestly
Executive Summary The Eurozone economy declined 3.8% quarter-over-quarter in the first quarter, matching expectations but still the largest quarterly decline on record, with sizable falls in French, Italian and Spanish GDP. April CPI inflation also slowed. The ECB eased liquidity...
Week Ahead – Nonfarm Payrolls: The Market’s Trial by Fire?
The serenity that has encompassed global markets lately will be put to the test next week, when America’s nonfarm payrolls data reveal how much destruction the pandemic has left in its wake. The Bank of England and the Reserve Bank...
US consumer spending plunges 7.5% in March, reflecting virus
Lay Guzman stands behind a partial protective plastic screen and wears a mask and gloves as she works as a cashier at the Presidente Supermarket on April 13, 2020 in Miami, Florida. Joe Raedle | Getty Images U.S. consumer spending...
US 30 Stock Index May Have More Bullish Fuel in Store
The US 30 stock index (cash) closed positive above the Ichimoku cloud on Wednesday, increasing speculation that the short-term uptrend could further strengthen. A bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA may add to...
USDCHF Faces Bearish Pressure above Rising Trendline
USDCHF had a bearish start on Thursday, dropping beneath the 23.6% Fibonacci retracement level of the upward wave from 0.9500 to 0.9800, at 0.9730, and the 20- and 40-period simple moving averages (SMAs). The pair has been in process to create an ascending triangle...
Dollar Recovering as Risk Appetite Recedes, Euro Turns Softer after ECB
Risk appetite recedes mildly today as European indices turn negative after initial gain, dragging US futures lower too. Euro is originally rather unmoved by ECB’s policy decision as well as press conference. But some weakness is seen at the time...
Stock market live updates: Tech stocks jump, futures flat, awaiting jobless claims
This is a live blog. Please check back for updates. 7:41 am: Facebook shares jump on ad revenue ‘stability’ Shares of the social media giant jumped more than 8% in the premarket after the company reported “stability” in its ad...
AUD/USD Could Make Brief Retracement
The Australian Dollar surged by 57 basis points or 0.88% against the US Dollar on Wednesday. The currency pair was guided higher by the 50– hour simple moving average during yesterday’s trading session. Most likely, the AUD/USD exchange rate might...
Financial opacity not a good look for under-pressure China
Throughout the coronavirus crisis, much of the focus on China has been around cause and effect. Questions, redolent of a US Congressional hearing, persist. What did Beijing know and when? Did it try to cover up the outbreak? Had it...
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