EUR/GBP edges lower in the Asian session on Tuesday. The Euro gains momentum on upbeat economic data, dollar weakness. The sterling remains on the backfoot amid Brexit chaos. After consolidating gains in the previous week, EUR/GBP continues to trades higher in the Asian session. The pair confides in a narrow trade band ahead of crucial
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AMC stock just holds support at $40 on Friday. AMC is still bullish but only just as apes face down bears. Stockmarket is ready for further gains after Powell pacifies investors. AMC stock just about held the key $40 support on Friday but did break lower intraday. This level is key to hold onto the
Gold prices have broken the $1,810 threshold and eyes now turn to $1,834 while above $1,805. US dollar under pressure following benign Jackson Hole outcome. ECB/Fed prospective convergence sentiment in focus on the back of Lane’s semi-hawkish rhetoric. Update: Gold prices trade higher above $1,820 with 0.34% gains. It took more than two weeks from the
Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely
“One more good jobs report will be sufficient to be able to start tapering,” the US Federal Reserve (Fed) Governor Christopher Waller said in Yahoo Finance interview, adding that “we would like to start tapering early this fall.” Read: Federal Reserve Chair Powell: Make me a rate hawk, but not yet Further comments “We don’t look
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
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