The US economy is likely to see the steepest plunge in payrolls since the Great Depression in April, in the face of the coronavirus outbreak and its devastating impact on the country’s labor market, the latest Reuters survey showed on Friday.
“The US economy to lose a staggering 22 mill
AUDUSD nicely landed on the 20-day simple moving average (SMA) following its pullback from a peak of 0.6569 on April 30.
Despite the latest downside reversal, the main trend remains up in the short-term picture, with the price set to confirm another higher low at 0.6371 and head north again if the b
National Australia Bank (NAB) has made two appointments to its Executive Leadership Team, the bank announced today.
Rachel Slade will be Group Executive Personal Banking, with end-to-end accountability for the home lending and everyday banking needs of personal customers, includi
Daily Pivots: (S1) 107.51; (P) 107.73; (R1) 107.93;
Intraday bias in USD/JPY remains neutral and outlook is unchanged. On the downside, break of 106.91 will extend the decline from 111.71 to 100% projection of 111.71 to 106.91 from 109.38 at 104.58. On the upside, break of 109.38 will suggest that f
In his remarks on Facebook, Italy’s Prime Minister (PM) Giuseppe Conte said that his government will gradually reopen the economy from May 4.
He added that the government will present Italy's restart plan for 4 May sometime this week.
EUR/USD recovers to 1.0850
EUR/USD has bounced off 1.0825 lows an
CME Group’s preliminary data for GBP futures markets noted investors reversed seven consecutive daily pullbacks and rose by just 592 contracts on Thursday. In the same line, volume prolonged the erratic performance and rose by only 506 contracts.
GBP/USD remains consolidative below 1.2500
Cable is e
EUR/USD, “Euro vs US Dollar”
After forming the first ascending impulse towards 1.0825 and completing the correction at 1.0720, EURUSD has returned to 1.0825; right now, it is forming a new consolidation range around the latter level. Possibly, the pair may start the second ascending impulse to reach
It’s getting even uglier.
Friday markets had their best day since 2008. And it seemed like maybe the worst was behind us.
But over the weekend, news of restaurant closures, business closures, more public meetings and events getting canceled (all because of COVID-19) had traders worried.
Then on Sund
Bloomberg's US Financial Conditions Index, a measure of stress in the markets, has deteriorated to -2.882, its worst level since the great financial crash of 2008/09.
The decline will put pressure on the Federal Reserve to cut rates by 50 basis points next week. The central bank delivered a 50 basis
WTI seesaws around the 13-month low.
Coronavirus-led likely reduction in demand keeps weighing on the energy prices.
Geopolitical tension between Turkey and Syria, Saudi Arabia’s push for production cut offers intermediate pullbacks.
WTI bears dominate near $46.60, down 0.30%, during the early trad
WTI bounces off the two-week low.
The monthly rising support line restricts immediate declines.
23.6% Fibonacci retracement adds to the resistance.
WTI recovers 0.70% to $51.67 during the Asian session on Tuesday. That said, black gold recently bounced off the monthly support line and is currently
If we look at the daily chart of AUDCHF we can see that the price has broken through Kijun Sen and opened the weekly session above this support level. Tenkan Sen is upward sloping suggesting strong buying momentum behind the move. Additionally, Tenkan Sen is converging with Kijun Sen. We would be lo
Yen and Swiss Franc weakened notably as imminent US-Iran war receded. Canadian Dollar also turned slightly softer as oil prices reversed this week’s gains. Dollar is currently trying to ride on the development to extend recent rebound. But the real will probably lie in tomorrow’s non-farm payroll re
Georgette Boele, Precious Metals Strategist at ABN AMRO, suggests that they are of the opinion that platinum is not the new gold as Platinum lacks the liquidity that gold has, it is not held by central banks in their official reserves, and it has fewer “currency” drivers (less sensitive on the US do
Open interest in EUR futures markets shrunk by nearly 1.5K contracts on Monday, reaching the sixth consecutive pullback. In the same line, volume reversed to builds in a row and dropped by almost 83.1K contracts.
EUR/USD ready to resume the up move?
Negative price action at the beginning of the week