US says hedge funds, private equity are not eligible for small business relief loans
The Small Business Administration said Friday that hedge funds and private equity firms are ineligible for the small business relief program. The move comes after reports that hedge funds had applied for the first round of the Paycheck Protection Program. That...
GOP’s Kevin Brady: Punishing businesses with higher taxes would hurt ‘blue-collar’ workers
Rep. Kevin Brady told CNBC on Friday that higher taxes and more regulations should not be put in place in response to the coronavirus economic crisis. “I don’t think you punish business in order to help that blue-collar worker. I...
USD/JPY Eyeing 106.05/105.14 Support – Elliott Wave Analysis
USDJPY is in a three-wave corrective reversal, after the intial five-wave rise at the beginning of March. We know that once an impulse fully develops (in this instance wave A), that is when a contra-trend reaction may follow (wave B)....
EUR/GBP Outlook: Neutral Near-Term Tone Eyes Weekly Close for Possible Fresh Signals
The cross is holding within narrow range around magnetic converged 10/55/200DMA’s and Fibo 61.8% of 0.8281/0.9498 (0.8738/46) on Friday. Near-term action shows indecision after two-day fall resulted in marginal close below abovementioned pivotal supports but failed to extend weakness. Daily...
Oil Drowns in a Flood of Supply, No Lifejacket for Now
Oil prices traded negative for the first time ever this week, as physical space to store the liquid has almost run out amidst an oversupply of epic proportions. In the near term, there’s little that can save oil prices, and...
US consumer sentiment falls for a third consecutive month
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic...
Some gig workers are getting $0 in unemployment benefits
A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020...
Dollar Dips after Durable Goods Orders Contractions, Euro Pare Losses
The currency markets are relatively quiet today, with major pairs bounded inside yesterday’s range. Dollar weakens after poor durable goods orders data, but New Zealand Dollar is even weaker. Euro recovers after yesterday’s selloff, followed by Canadian Dollar ans Swiss...
US core capital goods orders unexpectedly rise in March, while durable goods orders plunge 14.4%
Appliances for sale at a Home Depot store. Getty Images New orders for key U.S.-made capital goods unexpectedly rose in March, but the gains are not likely to be sustainable amid the novel coronavirus outbreak, which has abruptly shut down...
JP 225 Index Unable to Decisively Close Above 50.0% Fibonacci
JP 225 stock index (Cash) appears mostly flat in the very near-term as it edges sideways into the Ichimoku cloud, capped by the 50-day simple moving average (SMA) residing at the 19,779 border, that being the 50.0% Fibonacci retracement of...
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