Euro Awaits PMIs as Markets Need More Guidance
Directions in the markets are relatively unclear for now. US stocks closed higher overnight, but relatively close to opens. Asian markets are mixed with slight gains in Nikkei and HSI. WTI crude oil seems to be stabilizing above 10 handle...
Chamath Palihapitiya: We’ve ‘ripped the philosophical band-aid off’ on universal basic income
Investor Chamath Palihapitiya said Wednesday that the United States should continue sending Americans checks as the coronavirus pandemic continues to impact the economy. “We really need to think about direct, capital injections into the hands of people,” Palihapitiya said on CNBC’s “Fast...
She got a forgivable loan. Her employees hate her for it.
Jamie Black-Lewis received loans from the Paycheck Protection Program for her two spas, Oasis Medspa & Salon and Amai Day Spa, in Washington state. Many of her 35 employees think they will make more money collecting unemployment benefits than from...
USD/JPY Outlook: Slight Bullish Alignment but More Work Needed for Eventual Exit from Week-long Range
The pair holds slight bullish tone on Wednesday and attempts to break out from seven-day 107/108 zone range, where the action was stuck on safe-haven demand for both currencies. Wednesday’s action is holding in the upper side of the range...
Coronavirus Pushing Canadian Inflation Lower
CPI inflation plunged to 0.9% year-over-year in March Coronavirus pushed prices lower Lower prices good for consumers – when spending is eventually allowed Social/physical-distancing measures to control the spread of the coronavirus are causing a dramatic economic shock – and...
Dollar Pares Gains as Oil and Stocks Recover, Yen Softens Too
Dollar pares back some of this week’s gains as global risk markets recover. WTI crude oil June contract also trades higher and is back pressing 13 handle. Naturally, Yen follows the greenback as the second weakest for the day. On...
USDCHF Maintains a Horizontal Bearing as Momentum Fades
USDCHF has been mainly flat for the last two weeks confined within the 0.9742 and 0.9590 boundaries. Confirming the mostly directionless market are the 50- and 100-period simple moving averages (SMAs’) uncertain signals and the sideways demeanour of the 200-period...
Oil Carnage Spreads To Stocks
Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee...
USD/TRY Consolidation
Pivot (invalidation): 6.9610 Our preference Long positions above 6.9610 with targets at 6.9810 & 7.0000 in extension. Alternative scenario Below 6.9610 look for further downside with 6.9480 & 6.9320 as targets. – advertisement – Comment A support base at 6.9610...
Coronavirus: Italian banks try to make up for lost time
People queue for food in a street in Italy after stockpiling left many supermarket shelves bare After the lockdowns in response to the coronavirus pandemic spread across Europe this March, bankers in Italy watched with rising anger and frustration as...
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