Cleveland Fed President Loretta Mester told Bloomberg TV on Friday the Fed has basically met the criteria for tapering asset purchases. However, she further noted that the only real risk is if the Delta variant causes a bigger pullback in demand than expected, per Reuters. Additional takeaways “Fed should use the September meeting to layout
FX
GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765,
GBP/USD Forecast: Powell to the rescue? Pound technicals and fundamentals point lower When a currency cannot hold up when all others are in suspense – its weakness is exposed. GBP/USD has been on the back foot, struggling to hold onto 1.37 while investors are holding their breaths toward a critical event. Federal Reserve Chair Jerome
WTI edges down at the end of the week in Asian trading hours. Bulls consolidate near the $68.00 level for the previous three sessions. Momentum oscillator holds onto oversold zone warns of aggressive bets. WTI prices edge lower on Friday following the previous two session’s lull performance. At the time of writing, WTI is
In an interview with CNBC on Thursday, St. Louis Fed President James Bullard reiterated that he would want asset tapering to be completed by the first quarter of 2022, as reported by Reuters. Additional takeaways “Skeptical inflation will moderate in 2022, perhaps higher than 2.5%.” “Delta variant will peak at some point, message remains that economy
Reuters came out with the poll results of around 110 economists during early Thursday. The survey results said, “The blistering rally in global stocks is nearly over, any further gains will be limited and a correction is likely by the end of the year.” Barclays’ Emmanuel Cau said, “The positive earnings season catalyst now behind
Japanese Prime Minister Yoshihide Suga said on Wednesday that they will decide this week whether or not they will tap into 1.4 trillion JPY from reserves for additional cost for dealing with the pandemic, per Reuters. Additional takeaways “Will strive to provide COVID-19 countermeasures for children that would not interfere with the new school term.”
Silver refreshes intraday low, snaps two-day uptrend as RSI eases from nearly overbought conditions. Failures to cross the key SMA hurdle pulls the quote back below previous resistance line. Two-week-old horizontal support regains bear’s attention, key Fibonacci retracement levels, 200-SMA adds to the upside filters. Silver (XAG/USD) takes offers around $23.70, down 0.60% intraday, during
Philly Fed Nonmanufacturing Index fell sharply in August. US Dollar Index extends sideways grind around 93.00. The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell to 39.1 in August from 53.8 in July. Further details of the publication revealed that the Firm-level Business Activity Index declined to 37.2
USD/CAD extends the previous session’s losses on Tuesday. US Dollar Index fell near 93.00 amid improved risk appetite, delay in Fed’s taper talks. The Canadian dollar gained a strong rebound in oil prices. The selling pressure in the US dollar pushes the USD/CAD pair on the lower edge during the initial Asian trading session on
NASDAQ:WISH added 6.42% on Friday as markets rallied from early week volatility. ContextLogic needs a platform overhaul to win back its investors. Wish needs to find support and breakthrough its resistance for any sort of bullish reversal. NASDAQ:WISH closed out a week of overall volatility for the broader markets as the August OPEX finally comes
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What you need to know on Monday, August 23: The dollar gave up some ground at the end of the week, but it’s the strongest currency across the FX board. The better performance of equities and bouncing government bond yields put a cap on the greenback’s demand. The main themes were the spread of the
EUR/GBP rises 0.22% on weak UK economic data. UK’s retail sales data drop 2.5% vs 0.4% expected. The short-term trend is up, however stronger UK economic data, supports the British pound. The EUR/GBP rises for the second day in a row, modestly gain 0.22%, trades around 0.8580. For the second week in a row, recovers
On the session, the USD/CHF is down 0.14%, trades around 0.9176. The daily chart supports the uptrend. In the case of a short correction, price will tend to favor buyers Daily chart The price is trading around 0.9170. The daily moving averages stand underneath the spot price, and support moves towards the upside, however, recent
As we head towards the NY close, the white-metal trades down 0.87%. The US dollar fell 0.06% as the American session unwinds. The US 10-year Treasury yield rise to 1.26%. Despite US dollar weakness, silver slides for the third day in a row, and trades around $23.06 down almost 1%. The US dollar index is
Daily technical and trading outlook – GBP/USD GBP/USD – 1.3639.. Cable remained under pressure y’day n fell fm 1.3758 (AUS) to 1.3713 in Asia. Intra-day decline accelerated in Europe due on usd’s rally together with cross-selling in sterling, price tumbled to 1.3631 in NY. On the bigger picture, despite cable’s brief break of 2016 post-Brexit
WTI portrays a corrective pullback from May’s low. Bearish MACD, sustained breaks of the key supports keep sellers hopeful. 200-DMA can challenge bears below May’s bottom, bulls remain cautious below $66.90. WTI snaps six-day downtrend to consolidate recent losses around $63.83, up 0.30% intraday, during Friday’s Asian session. In doing so, the energy benchmark bounces