Sun, May 31, 2020 @ 19:42 GMT
UK Chancellor of Exchequer Philip Hammond raised the total funding for Brexit preparation to GBP 4B. He also emphasized that it's a "pivotal moment" in Brexit negotiations. If things turn out right, it will be "double Brexit dividend". Firstly,...
Funds are flowing out notably from safe haven assets today. Gold dives through 1280 handle and is resuming fall from 1346.71 high. German 10-year yield is up for another day at 0.067. US 10-year yield is also trading stronger...
U.S. Review Well, That De-Escalated Quickly The week began amid rising tensions carrying over from the U.S. killing of Iranian General Qasem Soleimani last Friday. Iran responded with non-lethal airstrikes on U.S. facilities, but President Trump has said the U.S....
Matteo Salvini, the right-wing League Deputy Prime Minister fired up a political crisis in Italy after pulling support for the coalition government earlier this month, forcing the Prime Minister, Giuseppe Conte, to resign and the marriage with the leftist Five...
The White House announced yesterday that Trump will leave the G6+1 summit in Canada earlier than anticipated, right after Saturday's morning session, on June 9. Then he will fly straight to Singapore for the highly anticipated Kim-Trump summit on...
The USD/JPY is facing a new resistance trend line (red) after breaking a minor trend line (dotted orange) yesterday. The bullish breakout did however indicate that a bearish ABC pattern (blue) was probably completed at the recent low, and...
UK Prime Minister Boris Johnson finally won the approval for his Brexit Withdrawal Agreement in the Commons. MPS voted 358-234 to pass the second reading of the bill. The final stage of ratification will take place after Christmas. The...
The coronavirus is first and foremost a public health issue, but it is also having a very major impact on the economy and the financial system. As the virus has spread, countries have restricted the movement of people across...
Canada's ambassador to the US David MacNaughton said in a CBC Radio interview that Trump has been "pretty consistent in his distaste for multilateral deals." And, "from the outset President Trump has articulated a desire to do bilateral deals rather...
EU trade director-general Sabine Weyand acknowledged that "UK does not intend to go for an extension of the transition" and EU needs to be prepared for that. She added, "that means in the negotiations we have to look at...
Dollar weakens notably in early US session after retail sales data showed another record decline in April. Stock futures also tumble after the news In particular, gold rides on the greenback's selloff and it's set to resume larger up...
Asian markets trade mildly lower as China's coronavirus continues to spread. But losses in major indices are so far limited. In the currency markets, commodity currencies are trading to recovery some of last week's losses, together with Sterling. Yen...
Non-farm payrolls fell by a record 20.5 million in April Unemployment rate jumped to 14.7% but still understated joblessness Another 7 million Americans have filed for unemployment insurance since this survey This morning’s US employment numbers confirm what we...
With the signing of the phase one trade deal mere days away, the U.S. said that it would remove China from a list of countries that it considers as currency manipulators, helping boost optimism on Wall Street and sending...
Spot gold retreated 0.8% last week, pressured by lockdown lifts and optimism on economic restarts in major countries. However since then, it posted a three-day rebound after reaching a low near $1,671 on May 1, supported by cautions on...
Sterling recovers mildly today but remains the weakest one on political turmoil in the UK. There is no clear sign of a come back in the Pound and it remains vulnerable for more selloff, even before weekly close. The...
Silver is attempting to move below the 16.95 level, which is the 50.0% Fibonacci retracement of the up leg from 14.28 to 19.63 and where the 20-day simple moving average (SMA) presently lies. Even though negative momentum has weakened,...
The US Dollar climbed higher nicely before it found resistance near the 1.3325 level against the Canadian Dollar. The USD/CAD pair started a downside correction and tested the 1.3250 support area. A low was formed near the 1.3254 level and...
Key Highlights USD/JPY found support near 108.30 and started a fresh increase above 109.50. There was a break above a key bearish trend line with resistance near 109.70 on the 4-hours chart. The US Initial Jobless Claims for the...
Key Highlights The Euro declined this past week and broke the 1.1250 support against the US Dollar. EUR/USD is following a bearish trend line with resistance at 1.1235 on the 4-hours chart. The US Nonfarm Payrolls in March 2019...
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