Fall from 200 hour MA and back below 100 hour MA The USDCAD has moved down to test support ahead of the week’s lower extreme swing area. The 1.31689 to 1.31731 is home to swing lows and highs going back to Tuesday’s trade (see green numbered circles and lower yellow area). The low price just extended to the high of that
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GBP/USD back on the bid as the US dollar failed to hold in the 93 areas. Brexit concerns could come back into play if there are no positive progress reports from this week’s talks. GBP USD is currently trading 1.3190 and travelling between a low of 1.3064 and a high of 1.3201. In recent trade, the
I know nothing Pres. Trump is distancing himself from the Steve Bannon and his go fund a project to raise money for building the US Mexican wall. The indictment said that the “We Build the Wall” project defrauded donors out of hundreds of thousands of dollars for their own profit. The project collected over $25 million from
By Ranjeetha PakiamGold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011. “When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the
Global financial markets seemed to have turned into risk-off mode today, after both Fed and ECB sounded very cautious regarding economic outlook in their minutes. Swiss Franc extended recent volatility trading and gains broadly, followed by Sterling and Yen. On the other hand, New Zealand Dollar completed this week’s recovery and resumed recent selloff. It’s
Small-business devastation during the coronavirus crisis presents risks to capitalism in the United States, Mohamed El-Erian told CNBC on Thursday. “If you want capitalism to be sustained, you need buy-in from a lot of people. You cannot get buy-in if it’s all about large corporations,” the chief economic advisor at Allianz said on “Squawk Box.” “Remember
An Estee Lauder cosmetics counter in Los Angeles, California, August 19, 2019. Lucy Nicholson | Reuters Estee Lauder forecast current-quarter profit below analysts’ estimates on Thursday after posting a bigger-than-expected quarterly loss, as travel restrictions and store closures put in place to contain the spread of coronavirus dampened demand for its premium makeup brands. The
The former governor of Reserve Bank of India, Raghuram Rajan, said that private cryptocurrencies like Bitcoin (BTC) and Facebook’s Libra may have a future even when central banks roll out their own digital currencies. Rajan, who was also the Chief Economist and Research Director at the International Monetary Fund from 2003–2006, said during a CNBC
The thing about key reversal days in FX is when is the close? Gotta pick a time and stick to it I guess, although the end of NY trade does make some sense. Anyway – AUD key reversal day (there are more in other currencies today also, feel free to post in the comments): Key
Traders scaled back their open interest positions in Gold futures markets by almost 4K contracts on Wednesday, according to preliminary figures from CME Group. Volume, in the same time, increased for the third session in a row, this time by around 87.5K contracts. Gold could drop below $1,880/oz Prices of the ounce troy of Gold
The daily case count continues to rise The 1,707 new cases reported today sees the number of active cases across the country rise to ~14,500 and that is the most since 13 May. Meanwhile, another 10 deaths were reported and that brings the total tally on that front to 9,253 persons. For bank trade ideas,
Gold recovered some poise on Thursday after the U.S. Federal Reserve warned that a recovery from the pandemic-induced economic slump faced a highly uncertain path. FUNDAMENTALS Spot gold was up 0.5% at $1,940 per ounce by 0052 GMT, after declining more than 3.5% to a near one-week low on Wednesday. U.S. gold futures fell 1.4%
Crude oil prices weakened despite decline in US inventory levels. At the video conference held by the OPEC+ Joint Ministerial Monitoring Committee, oil producers warned that “the pace of recovery appeared to be slower than anticipated. Yet, they dismissed increasing output cut from the current deal. The report from the US Energy Information Administration (EIA)
Keith Cunningham from South Carolina shops for Walt Disney apparel at the Bargain World gift shop located near Walt Disney World where its conducting a phased reopening from coronavirus disease (COVID-19) restrictions in Lake Buena Vista, Florida, July 11, 2020. Octavio Jones | Reuters Retail sales rose to a record level in July, recovering what
A woman wearing a protective mask passes a homeless person during the coronavirus pandemic on May 12 2020 in New York City. John Lamparski | Getty Images Victoria’s Secret owner L Brands booked a surprise profit and better-than expected revenue during the latest quarter, sending its shares higher in after-hours trading Wednesday. Sales fell 20% during
Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin’s price to stop doing what it’s been doing for most of the past decade: appreciating.” However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and
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