Tying it All Together with Copper
Copper is often referred to as “Dr Copper”, as it is often viewed as a gauge of world economic health. The price of copper has turned higher recently, as it is often correlated with the stock prices and commodity currencies,...
XAU/USD Outlook: Bulls On Hold for Consolidation/Correction Before Resuming
Spot gold eased after dismal US jobless claims lifted dollar, showing further hesitation after strong rally in past few days hit the highest in nearly eighteen years and Wednesday’s trading ended in red. It seems that bulls are pausing on...
The US economy has erased nearly all the job gains since the Great Recession
A man speaks with a library worker after receiving an unemployment form, as the outbreak of coronavirus disease (COVID-19) continues, in Hialeah, Florida, April 8, 2020. Marco Bello | Reuters It took only four weeks for the U.S. economy to...
US 30 Index Consolidates above 200-MA; Maintains Bullish Tone
US 30 Index (Cash) has taken a breather, trading around the mid-Bollinger band after breaking above the 200-period simple moving average (SMA) on the four-hour chart. That said, the index sustains its bullish bearing and is aided by the supportive...
Dollar Shrugs Poor US Data, Euro Vulnerable to Another Selloff
Global stock markets are mildly firmer in consolidative mode today, with slight gains in major European sessions. Poor US economic data triggered little reactions. Dollar’s rebound attempt is somewhat stuck below yesterday’s high for now, while Canadian Dollar is recovering....
Billionaire Barry Diller says bail out everyone and ‘worry about paying the bills later’
Billionaire businessman Barry Diller told CNBC on Thursday the United States government should bail out all companies that have been hit hard by the coronavirus, including those in the travel industry. “The damage that is being done every day is enormous,”...
US home construction collapsed 22.3% in March
U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago. The Commerce Department said Thursday that groundbreakings occurred last month at a seasonally adjusted annual rate of 1.2 million units, down...
Coronavirus and finance: Living through history
“History never looks like history when you’re living through it.” So claimed John Gardner, who was secretary of health, education and welfare during the administration of US president Lyndon B Johnson. It is hard to imagine any health secretary agreeing...
Investors Turn Defensive Following A Raft Of Disappointing Economic Data
After climbing to a one month high on Tuesday, the S&P 500 declined 2.2% yesterday and more losses are set to follow today with futures indicating a lower open. It is no surprise that economic data will take a steep...
EUR/JPY Bearish Move As SHS Pattern Progresses
The EUR/JPY shows bearish continuation signs. The price is very bearish as the shoulder-head-shoulder pattern progresses. We can see on the chart a giant head and shoulders pattern. 117.50 zone is the bottom of the right shoulder and we should...
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