Country risk: Egypt, Lebanon, Saudi Arabia et al demonstrate MENA is not equally fragile
MENA economies are walking on eggshells, with some more likely to crack under the added pressure of coronavirus than others Risk experts have been busy downgrading the Middle East and North African region as they evaluate the likely impact of...
German ZEW Survey Continues Its Descent
Notes/Observations Risk-off sentiment in Europe was initial buoyed by concerns of stemming the coronavirus outbreak. Dealers cited a Thursday draft of the clinical trial results for COVID-19 hopeful drug remdesivir did not speed up improvement in patients in China or...
US 30 Index Stands Below 50.0% Fibo, Bullish Correction In Progress
The US 30 stock index (cash) found strong resistance at the 24,443 level and the 50-day simple moving average (SMA), returning back below the 50.0% Fibonacci retracement level of the downward wave from 29,582.61 to 18,145 at 23,866. Technically, the...
XAU/USD Raised To 1,740.00
On Thursday, the XAU/USD exchange rate raised to the psychological level at 1,740.00. During today’s morning, the rate was trading at 1,730.00. It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the...
GBP/USD Remains Below 1.2400
Yesterday, the GBP/USD exchange rate tried to surpass the weekly S1 at 1.2395. During Friday morning, the rate declined below the monthly PP at 1.2345. It is likely that the currency pair could be pushed down to the 55– and...
EUR/USD Touched 1.0740
On Thursday, the EUR/USD currency pair failed to decline below the 1.0760 level. During today’s morning, the pair touched the 1.0740 mark. Note that the exchange rate remains under pressure of the 55– and 100-hour SMAs in the 1.0820 area....
Euro Stays Weak in Mixed Markets, Canadian Attempting a Rebound
Euro and Swiss Franc remains broadly pressured today even though there is no follow through selling yet. But markets elsewhere are relatively mixed. While Australian and New Zealand Dollar attempted for a rebound, Dollar and Yen are not overwhelmed yet....
‘Big Short’ Steve Eisman likes the big US banks after coronavirus sell-off
Renowned investor Steve Eisman said Thursday U.S. banks are an attractive investment following the coronavirus-induced market sell-off. “I actually think long-term, the best cyclical play out there are the very large banks,” Eisman, senior portfolio manager at Neuberger Berman, told...
The US economy has wiped out all the job gains since the Great Recession
It took only five weeks for the U.S. economy to wipe out all the job gains it added over the last 11 years. Coronavirus-induced business closures throughout the U.S. have fueled the number of Americans applying for state unemployment benefits....
US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 million
Jobless claim filings continued at a historically unprecedented pace last week with 4.4 million new signups for unemployment insurance, bringing the total of the past five weeks to 26.4 million, the Labor Department said Thursday. The number represented a decline...
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