Cable sits lower on the day amid a firmer dollar ForexLive Whether or not Merkel’s remarks overnight were misinterpreted, markets reacted rather strongly with buyers overwhelming sellers to push the pound to near one-month high against the greenback. The upside move ran into resistance at the 50.0 retracement level @ 1.2267 before falling back slightly
It is literally a session devoid of key economic data releases Happy Friday, everyone! Hope you’re doing well as we get things going in the session ahead. Markets are calmer today with the yen holding weaker amid higher Treasury yields. The dollar is mixed in trading so far, reflecting some lack of direction for the
APAC Stocks – Talking Points: Most indexes were higher, if often not by much Expectations are quite high for Fed Chair Jerome Powell’s Friday speech Japan and South Korea’s differences seem to be widening Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you
Waiting until November The New Zealand dollar was the best performing Asian currency during this morning’s session after RBNZ Governor Orr said that the central bank will do whatever is necessary to support the local economy, but can afford to wait and see what is happening. This implies that the Bank will be monitoring the
According to Shilan Shah, India Economist at Capital Economics, India’s April-June (Q1) GDP growth rate is likely to tick higher after the previous quarter’s slowdown. Key Quotes “India’s gross domestic product growth is likely to rise to 6% in April-June from a five-year low of 5.8% in January-March Growth in personal loans (excluding vehicles) has
Traders work on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Arturo Estrella, the economist who first discovered the predictive power of the yield curve, has a message for recession naysayers: It could hit sooner than you think. “It’s been 50 years and 7 recessions with a perfect record,” Estrella told
Lots of noise, but little substance, best describes the price action on financial markets overnight, as the street chased its tail ahead of Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium this evening. Equities, the U.S. dollar and gold and oil all eased slightly after Federal Reserve Presidents George and Harker both said
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China tariffs go up on Sept. 1 and again on Dec. 15, meaning everything U.S. companies buy from Chinese manufacturers will be charged 10% to 25% more that it used to. (AP Photo/Eric Risberg) ASSOCIATED PRESS Next week marks the final week before the Made in China discount ticket to the American mega mall expires.
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AUDUSD: AUSTRALIAN DOLLAR LOOKS RIPE FOR MAJOR TECHNICAL BREAK Spot AUDUSD has sunk over 6% from its year-to-date high of 0.7295 printed back in January and selling pressure appears set to continue. The Australian Dollar has stumbled largely owing to US-China trade war fallout which is a theme that will likely continue for the foreseeable
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Ethereum could become the first public blockchain on Hyperledger – if the open-source consortium’s technical steering committee approves a proposal to adopt the ConsenSys-backed Pantheon project. Pantheon is a suite of ethereum-based services built by PegaSys, a 50-strong engineering team at ConsenSys. The Pantheon ethereum client, built on Java, is used to develop enterprise applications with
They don’t mention to upcoming 2020 election. Then again, they don’t need to. Kudlow with the comments Oh, here we go – says could see the tax cuts before the election short term payroll tax cut unlikely could see personal tax rates lowered Kudlow in a Fox interview. ForexLive
(Reuters) – The bond market is in a “bubble,” particularly sovereign debt, Guggenheim Partners global chief investment officer Scott Minerd warned on Thursday, and he said that efforts by the Federal Reserve to head off a recession by cutting interest rates will ultimately prove futile. FILE PHOTO: Scott Minerd, Chairman of Guggenheim Investments and Global
A trader works at the New York Stock Exchange in New York, the United States, on Aug. 5, 2019. U.S. stocks plunged on Monday as investors worry that U.S. President Donald Trump’s threatened new tariffs on Chinese imports will worsen trade prospects. The Dow Jones Industrial Average decreased 767.27 points, or 2.90 percent, to 25,717.74.
National Bank of Canada’s analyst, Krishen Rangasamy asks if the benchmark revisions by the Bureau of Labor Statistics that suggested non-farm payrolls last March were 501K lower than earlier estimates, will cause a change of stance at the Federal Reserve? Key Quotes: “The U.S. labour market is strong, but less so than previously thought. We’ll
Trying to form a solid coalition The 5-Stars Luigi DiMaio is on the wires saying: Has started talks on serious majority There are 10 goals for any future government Parliament reform can be passed by current legislature He warns that Five-Star is not afraid of early elections After meeting Pres., elections cannot be excuse to