•  The pair’s overnight slump, triggered by more than previously anticipated dovish FOMC, confirmed a decisive break through a 2-1/2-month-old ascending trend-channel.    •  The bearish trajectory extended through the Asian/early European session on Thursday and dragged the pair to its lowest level since late-February, or over three-week lows.    •  Given that daily
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(AP Photo/Gregory Bull) Photocredit: Associated Press. My memory of carnage during the tech bubble of 2000-01 is indelible. Microsoft was the best of the worst, down just 20%. Shrinkage among the top 10 names in the Nasdaq 100 Index ranged up to 80% with Cisco down 77% and Intel minus 63%. Meantime, internet infrastructure providers
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Employment change not quite so impressive Australia’s unemployment rate fell to 4.9% in February, the lowest since May 2011, data released this morning showed. Granted, this was coupled with a dip in the participation rate to 65.6% from 65.7%, but nevertheless investors looked favourably on the numbers. The number of jobs added in the economy
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Daily Markets Broadcast 2019-03-21 NOTE: The Daily Market Broadcast will pause on 22 Mar 2019 and resume on 24 Mar 2019 Wall Street slides despite extra-dovish Fed The knee-jerk reaction to a more dovish outlook from the Fed was for Wall Street indices to rally, but that proved fleeting and indices closed lower yesterday. Trump
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The  Hong Kong Monetary Authority has been kept busy on at least five occasions recently intervening to buy Hong Kong dollars against the USD to defend the HKD at the weak end of its trading band (The HKMA have 7.85 for USD/HKD as their their limit) All five instances of intervention have occurred between 5am and
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Asymmetric trade deal sinks Fed rally The Federal Reserve continued to release more doves overnight with the FOMC erasing more dots from its plot and removing any hikes in 2019, moving to just one in 2020. Chairman Powell cited a weakening global economy, US-China trade and nervousness about the domestic economy for sitting on their
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The Reserve Bank of Australia is focused on the employment market in Australia. That’s That’s what they tell us anyway.  Hence interest is high in today’s labour market report.  For February due at 0030 GMT Employment Change K expected +15K, prior +39.1K Unemployment Rate % expected 5.0%, prior 5.0% Full Time Employment Change K prior
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