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EURUSD Another Rejection

The euro currency has incurred another rejection from the 1.2300 resistance level against the US dollar, following the release of solid Manufacturing data from the US economy. If bulls fall to move the EURUSD past the 1.2300 level, then sellers could move the pair back towards the 1.2130 support are

Japan’s Kato: Working towards making decision on state of emergency on Thursday

Japan’s Chief Cabinet Secretary Katsunobu Kato said on Tuesday, the government is working towards making a decision on announcing a state of emergency this Thursday. Additional comments “Focus will be on lowering transmission risks at dining, drinking establishments.” “Has strong concerns on the lat

USD/ZAR to lose the 14.00 level on a break below moving averages at 14.4264/3563 – Commerzbank

The USD/ZAR pair revisits the 14.5044 December low below which meander moving averages at 14.4264/3563, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “USD/ZAR has been trading in a tight range above its 14.5044 December trough over the past few weeks. Between this l

Jack Ma's disappearing act fuels speculation about billionaire's whereabouts

BEIJING (Reuters) - Alibaba founder Jack Ma’s absence from public view in the past two months, including missing the final episode of a TV show on which he was to appear as a judge, has fueled social media speculation over his whereabouts amid a Chinese regulatory clampdown on his sprawling business

Top commodities technical analysis forecast 2021

Sugar In 2019 the market switched from the 2011 – 2016 Bearish Andrews Pitchfork to the shallower Bearish Schiff Pitchfork. In 2020, the last two months in point, it looks like the market is disposing of the Bearish Pitchforks all together as in November the market breached the Upper Tine (currently

Unwinding of safe-haven plays continues into 2021

Notes/Observations - Various PMI Manufacturing readings prompting optimism on global recovery - European PMI data mostly softer but remaining in expansion territory (Beats: UK; Misses: Euro Zone, Germany, Italy, Spain; In-line: France) - Coming weeks could remain challenging on the virus front Asia:

Ethereum Crosses $1150 after 30% Jump, Bitcoin Consolidates

Photo: AFP Ethereum, the world’s second-largest cryptocurrency recorded significant gains over the weekend as the ETH price reached $1,150, its highest level in nearly 3 years. Bitcoin is currently consolidating near $32,000 after breaching the $34,000 mark on Sunday. The cryptocurrency market gaine

Hedge funds bet on recovery in 2021

TORONTO, Jan 4 (Reuters) - Some global hedge fund investors are going into 2021 optimistic about a speedy snap-back from the economic challenges related to the coronavirus pandemic. Hedge funds, which use leverage and employ more aggressive, often riskier strategies than other investors, believe man

Turkish economy cool since 2018 halted Erdogan's hot streak

ISTANBUL (Reuters) - Turkey’s foreign trade deficit has surged beyond $45 billion so far this year, data showed on Thursday, as fallout from the pandemic extended the economy’s worst slump in President Tayyip Erdogan’s nearly two decades in power. The sharp trade imbalance, including a jump of $5 bi

Gold Price Analysis: XAU/USD can ignore US dollar bounce on the way to $1,900 – Confluence Detector

Although gold prices snap two-day winning streak while declining 0.21% to $1,889.50 during early Thursday, it’s the ability to stay beyond the key support near $1,887/88 keeps the buyers hopeful. The yellow metal recently dropped after the US dollar index (DXY) bounced off the lowest since April 201

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How to Make Loans Scarce in Two Words: Cap rates

Here's perfect free market example of what not to do about allegedly high interest rates. Interest Rate Caps Reuters reports Peru Passes Law Allowing Central Bank to Cap Interest Rates on Bank Loans. Peru’s Congress approved on Wednesday a law that will allow policymakers to cap interest rates on lo

Peru Congress passes law allowing central bank to cap interest rates on bank loans

LIMA, Dec 30 (Reuters) - Peru’s Congress approved on Wednesday a law that will allow policymakers to cap interest rates on loans granted by banks, a controversial measure that has been deeply critiqued by the Andean nation’s government and financial institutions. The law empowers the country’s centr

USD/JPY Accelerating Down as Dollar Selloff Continues

Dollar remains the worst performing one for today, after earlier downside breakout. Though, selling focus has shifted away from Euro. Currently, Australian Dollar an Sterling are the strongest one, followed by New Zealand Dollar. But Yen buying is accelerating in early US session. It’s unsure who wi

'Boris the betrayer' has swindled us over Brexit, England's fishermen say

NEWLYN, England (Reuters) - For England’s fishermen, Prime Minister Boris Johnson’s Brexit trade deal is a betrayal because it allows some European Union boats continued access to Britain’s rich inshore coastal waters. Johnson, who led the 2016 Brexit campaign, cast the Christmas Eve trade deal as a

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