Thu, May 28, 2020 @ 00:23 GMT
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There’s been a lot of talk for a powerful V-shaped recovery, but that has only happened in the stock market, which is ignoring the rising economic and geopolitical risks and is instead plowing higher, powered by a tsunami of...
While markets are shifting focus to the second half of the year, hoping to see signs of economic recovery on the back of easing lockdown measures, the loonie will take a glance at Friday’s Q1 GDP numbers at 12:30...
During today’s Asian session, Japan’s Prime Minister Shinzo Abe and his cabinet approved another ¥117T (USD $1.1T) stimulus package including subsidies to help firms pay rent, financing help for struggling companies, support for local economies, and health care assistance....
New York Fed President John Williams said that "maybe we are near the bottom in terms of the economic downturn". There could be a "pretty significant" rebound in the second half of the year. Nevertheless, he still cautioned that...
The European Commission today unveiled its long-awaited recovery fund ('Next Generation EU') and revised EU budget, amounting to EUR1.85trn in total (11.2% of EU GDP). Here we summarise the key things to note from today's proposal. Size of recovery...
GBPJPY’s recent up move from the 129.28 level appears to be finding difficulty in closing above the 200-period simple moving average (SMA) at 132.60 and the 133.00 handle. The flatness in the MACD and the blue Kijun-sen line reflect a...
Cable fell some hundred pips on Wednesday as traders booked profits from Tuesday's 1.2% rally, weakening near-term structure and shifting focus lower. Bull-trap pattern is forming on daily chart following unsuccessful attempts to clearly break above daily cloud, as...
Gold's decline from 1765.25 extends lower today and breached 1700 handle. The fall is getting better in shape as the correction to whole rise from 1451.16 to 1765.25 as we viewed. Further fall should be seen to 38.2% retracement...
Euro surges broadly today as traders more than welcome the new EU pandemic recovery plan. Canadian Dollar is currently the second strongest while the greenback is the third. Strength in Euro appears to have prompted some selloff in Sterling...
European formally unveiled an unprecedented stimulus package to day, to "to protect lives and livelihoods, repair the Single Market, as well as to build a lasting and prosperous recovery" after coronavirus pandemic. Total financial power is boosted to EUR...
ECB President Christine Lagarde said the "mild" coronavirus economic scenario is now "out of date". She added, "we'll have a better sense in a few days as we publish our numbers in early June, but it's likely we will...
The Economic Sentiment Indicator (ESI) and preliminary inflation readings will be the data highlights in the Eurozone this week. The ESI is out on Thursday and the flash inflation estimate will follow on Friday; both are due at 09:00...
Global equities continue to climb higher on hopes that Europe is finally nearing a 750-billion euro fiscal response and as investors eagerly await the results of human trials of COVID-19 vaccines. The long awaited EU fiscal response is a...
SNB Chairman Thomas Jordan reiterated that negative rates and forex interventions are "particularly important at the moment", since the Swiss Franc is in demand as "safe haven". He emphasized the need to "ensure monetary conditions remain accommodative in Switzerland."...
Euro surges after EU Commissioner for Economy Paolo Gentiloni indicated in a tweet today that they proposing a EUR 750B recovery fund, to add to the instruments already launched. It's separately reported that the money would be split into...
Stock markets are making strong gains once again on Wednesday as investors turn a blind eye to increasing friction between the US and China and focus on the exciting prospect of economies reopening after months of lockdown. The soft reopening...
In America, there's a flood of data coming up towards the end of the week. Durable goods orders and the weekly jobless claims are due at 12:30 GMT on Thursday, while Friday brings consumption and income numbers ahead of...
Gold prices are heading lower in the very short-term, penetrating the 100-period simple moving average (SMA) on the 4-hour chart and challenging a new two-week low of 1,705. According to the technical indicators, the RSI is pointing slightly up...
USDJPY's recent obstruction to upside moves seems to be coming from the 107.69 level, that being the 38.2% Fibonacci retracement of the up leg from the 41-month low of 101.17 to the 111.71 high. The pair had drifted into...
NZDUSD is recording its second week of gains thanks to the descending trendline stretched from the 0.6754 peak that managed to curb downside corrections once again, allowing the price to advance to a 2 ½-month high of 0.6227 on...
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