Aussie Dragged By Downbeat Jobs Report
This morning, the Australian dollar weakened against the U.S. dollar following a downbeat jobs report. Official data showed that Employment in Australia plunged 227,700 in May, much worse than a reduction of 78,800 expected. The Jobless Rate jumped to 7.1%...
New Zealand’s GDP Data May Hide Economic Challenges Despite Being Rid of Virus
New Zealand will be the last of the major economies to report GDP estimates for the first quarter. The data, due at 22:45 GMT on Wednesday, will likely show the Pacific island nation recorded its first economic contraction in nine...
EU Indices Slightly Up | TA Focus On Hugo Boss
INDICES Yesterday, European stocks recorded beefy gains, with the Stoxx Europe 600 Index advancing 2.9%. Germany’s DAX 30 surged 3.4%, France’s CAC 40 rose 2.8%, and the U.K.’s FTSE 100 jumped 2.9%. EUROPE ADVANCE/DECLINE 97% of STOXX 600 constituents traded...
Bank of England to Ramp Up QE as UK GDP Collapses, Brexit Clock Ticking
As Britain faces its worst recession in 300 years, the Bank of England will be hoping to use its two-day policy meeting on June 17-18 to inject another dose of stimulus into the ailing UK economy. After the bigger-than-expected plunge...
Risk Appetite Finding Fresh Legs But Several Geo-Political Incidents Murmur In Background
Notes/Observations Stimulus talk and various govt efforts to support companies impacted by the coronavirus outbreak. aid risk appetite Geo-political clouds on horizon as North Korea blows up liaison office; China-India ‘violent’ skirmish on border with casualties BOJ saw interest rates...
Currency Pair of the Week: EUR/GBP
The UK will release employment data this week which could affect the Pound. The Claimant Count Change for May is expected to be 400,000 vs 856,000 in April. Although the expectation is more than half the print for April, 400,000...
COVID-19 Hammers Canada’s Manufacturing Sales in April
The statements and statistics contained herein have been prepared by the Economics Department of RBC Financial Group based on information from sources considered to be reliable. We make no representation or warranty, express or implied, as to its accuracy or...
Asia Morning: U.S. Stocks Rebound, But Unrest, Virus Concerns Remain
On Friday, U.S. stocks rebounded paring some losses caused in the sell-off on Thursday. The Dow Jones Industrial Average rose 477 points (+1.9%) to 25605, the S&P 500 gained 39 points (+1.3%) to 3041, and the Nasdaq 100 was up...
Gold Rally: Worth to Hold Your Breath
During market stress periods, safe-haven gold tends to generate strong returns, outperforming other alternative means of investment and hence moving rapidly in traders’ favor as a store of wealth. This year thanks to the Covid-19 pandemic, the precious metal printed...
How the Stock Market Took Over the FX Market
Once upon a time in a pre-covid world, the currency market and the stock market were driven by different factors. Correlations between the two existed of course, but they were limited to a few pairs, like dollar/yen. Nowadays though, it...
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