Month: September 2021

Powell’s benign view on inflation is getting pushback at the Fed, and elsewhere

Economy
American Peterbilt truck on trucking route Interstate 10 in Louisiana. Tim Graham | Getty Images Federal Reserve Chairman Jerome Powell‘s conviction that the inflation winds whipping through the U.S. economy this year soon will subside is not universally shared. In fact, a growing contingent within the Fed’s virtual halls is raising concern that the supply
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Yen Crosses Trading Up But Markets Stay Generally Cautious

News
While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and Australian Dollars are the strongest ones for the week. Canadian Dollar is lagging far behind
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Gold firms on sluggish dollar ahead of US jobs data

News
Gold prices eked out small gains on Friday, buoyed by a weaker dollar, with investors awaiting the US jobs data to gauge the Federal Reserve’s plans to start tapering asset purchases. FUNDAMENTALSSpot gold rose 0.1% to $1,811.79 per ounce by 0115 GMT, but was headed for its first weekly decline in four. US gold futures
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Binance limits SGD product offerings in Singapore amid regulatory warnings

Blockchain
Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws.  Beginning Sept. 9, Singaporeans will no longer be able to trade cryptocurrencies or receive payments denominated in the Singapore dollar, better known as SGD, according to a
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USDCAD trying to stay below the 200 day MA

Technical Analysis
200 day MA at 1.25326 The USDCAD yesterday moved up to test its falling 200 hour moving average (green line). Sellers leaned against that level and in doing so kept the sellers in control. The price ultimately fell below the recent swing lows down to 1.2568.   Today, the pair took a another step with a fall below its 200 day
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Private payrolls increase by just 374,000 in August, far short of the 600,000 estimate, ADP says

Economy
A Panda Express restaurant displays a “Now Hiring” sign in Tampa, Florida, June 1, 2021. Octavio Jones | Reuters U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according to a report Wednesday from payroll services firm ADP. Private payrolls rose just 374,000 for the
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EURJPY corrects into MA support. Can it hold?

Technical Analysis
100 hour MA and swing level at 130.169 The EURJPY has been marching higher since bottoming on August 20. The price had been up for 9 of the last 10 trading days coming into today. The price is currently lower after a double top near 130.736. The subsequent fall took the price below a swing area defined from highs on Wednesday, a few lows
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