Chinese Manufacturing PMI Could Stay in the Expansion Area
The Chinese National Bureau of Statistics (NBS) will publish April’s manufacturing PMI survey on Thursday at 01:00 GMT and analysts expect a tiny pullback after last month’s incredible rebound that drove the index to pre-outbreak levels. While the slowdown in...
Pending home sales tank nearly 21% in March, but Realtors claim prices will hold up
A sale pending sign is posted in front of a home for sale in San Francisco, California. Justin Sullivan | Getty Images Home sales took a deep dive in March as the coronavirus pandemic shut down much of the economy...
8-month ‘structured lockdowns’ could halve economic damage from the coronavirus, research claims
A pedestrian wearing a face masks crosses an empty street amid the coronavirus outbreak on April 25, 2020 in San Francisco, California. Liu Guanguan | China News Service via Getty Images Enforcing eight-month “structured lockdowns” could halve the economic destruction...
WTI Oil Outlook: Oil Price Rises on Fresh Optimism But Still a Long Way Towards More Significant Recovery
WTI oil advanced around 9% during Wednesday’s Asian / European trading and extended bounce from Tuesday’s $10.05 spike low above $14 per barrel. API crude stocks data released on Tuesday, showed smaller than expected build in crude inventories during the...
US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis
Gross domestic product fell 4.8% in the first quarter, according to government numbers released Wednesday that provide the first detailed glimpse into the deep damage the coronavirus wreaked on the U.S. economy. Economist surveyed by Dow Jones had expected the...
Dollar Weakness Continues after GDP Contraction, FOMC Next
Dollar’s weakness continues today as largest GDP contraction in more than a decade gives no help. A wave of selling is seen in Sterling in European session. Yet there was no sustainable momentum so far. Yen is follow as the...
BTCUSD Approaching Resistance
Bitcoin is fast approaching the $8,000 level as the number one cryptocurrency continues to receive strong buying interest ahead of the upcoming halving event. A breakout above the $8,000 level could see the BTCUSD pair rallying towards the $8,800 resistance...
EURUSD Neutral In Short-Term But Still Bearish In Medium-Term
EURUSD has been trading within a symmetrical triangle formation since March 20, with a break outside it likely to determine the next trend direction. Moreover, the price rebounded after it found support near the uptrend line and the 1.0730 support, enhancing...
Dollar Edges Down Ahead Of Fed, Aussie’s Bull Run Continues
Dollar drifts lower in mostly risk-on mood ahead of Fed statement Virus success powers aussie to 7-week high, euro perks up too Oil steadies, stocks move higher in lacklustre trading Dollar pressured amid lockdown easing, eyes Fed meeting The mood...
Aussie Extends Rally on Strong CPI, Weak Dollar Awaits Fed and GDP
Australian Dollar remains the strongest one for the week as stronger than expected CPI data prompted another round of buying in Asia. Other commodity currencies are also firm, but the Japanese Yen is not too far away. Dollar, on the...
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