Thu, Sep 24, 2020 @ 09:23 GMT
US personal income rose 0.4% mom in March, below expectation of 0.4%. Personal spending rose 0.4%, in-line with consensus. Headline PCE accelerated to 2.0% yoy in March, up from 1.7% yoy in February, matched expectations. Core PCE accelerated to...
Regarding the US steel tariffs, EU Trade Commissioner Cecilia Malmström will speak with US Commerce Wilbur Ross today. Malmström will try to get last minute consent from the US to exempt the tariffs on EU, which temporary exemption expires...
The week offers a plethora of new data along with monetary policy announcements from the Reserve Bank of Australia (RBA) later this evening and the Federal Open Market Committee (FOMC) on May 2. No policy changes are anticipated. U.S trade...
USD is trading as the strongest one heading into US session. But except versus GBP, USD is limited below Friday's high against all others. It's technical in consolidations for the moment. CHF is trading as the second strongest, followed...
Gold has plummeted during today's European session after the bounce off the 1325.75 resistance level. It is worth mentioning that the price has been trading within a trading range since January 25 with the 1365 resistance level being the...
Fresh selling is seen in GBP as it breaks Friday's low against all but AUD and NZD. EUR/GBP led the way higher earlier as rebound from 0.8620 resumed. 6H action bias turned upside blue earlier after stabilizing above 0.8790 resistance....
Swiss KOF Economic Barometer rose to 105.3 in April, up from 105.1 but missed expectation of 106.0. KOF noted in the release that "although the Barometer currently does not reach the positive values seen at the turn of the year...
EURUSD has reversed down following an aggressive bearish week, which shifted the medium-term positive outlook to negative. The price penetrated the ascending trend line to the downside and recorded a fresh more than three-month low of 1.2054, achieved last...
The final trading day of April kicked off with a positive mood in Asia after North Korea’s Kim Jong-un made history by crossing into South Korea. The scene of Kim Jong-un shaking hands with Moon Jae-in brought cheer to...
China’s National Bureau of Statistics reported that manufacturing PMI eased to 51.4 in April, from 51.5 a month ago. This, however, came in better than consensus of 51.3. The non-manufacturing improved to 54.8 in April from 54.6 in the...
The forex market open the week rather steadily with major indices stuck inside Friday's range. Aussie is generally lower followed by Yen. Meanwhile, Sterling, Dollar and Swiss Franc are generally higher. But the picture could quickly change as volatility...
British pound remains under pressure after Friday’s selloff. GBPUSD slumped almost -1% on Friday, resulting in a second consecutive weekly decline of the pair, as weakness in first quarter GDP growth was accompanied with BOE Governor Mark Carney’s dovish...
The official China manufacturing PMI dropped 0.1 to 51.4 in April, slightly above expectation of 51.3. Non-manufacturing PMI rose 0.2 to 54.8, above expectation of 54.5. In its quick China Data Response note, Capital Economics noted that "the official manufacturing...
Fed is widely expected to keep federal funds rate unchanged at 1.50-1.75% this week. But the tightening path will continue with another hike in June, to 1.75-2.00%. Fed fund futures are pricing in 100% chance of that. Markets will...
RBA is going to announce rate decision again tomorrow. And, it's widely expected the it would keep the cash rate unchanged at 1.50%, and maintain a neutral stance. The message has been delivered repeatedly, while the next move is...
The temporary exemptions on US steel and aluminum tariffs will expire tomorrow on May 1. There is little progress made on trade negotiation between the US and other countries. Commerce Secretary Wilbur Ross was quoted saying that some countries will...
Key Highlights The Euro declined this past week and tested a major support at 1.2060 against the US Dollar. There is a key bearish trend line in place with resistance at 1.2150 on the 4-hours chart of EUR/USD. The...
After a tumultuous week marked by a USD rally that caught everyone by surprise, testing recent trader fortitude should come early in the week after US Treasury yields moved lower into the weekend. The rise in US yields is...
Speculators were mixed over the energy complex in the week ended April 24. Net LENGTH for crude oil futures plunged -15 708 contracts from a week ago to 712 423. NET LENGTH of heating oil rose +6 420 contracts to...
The Bank of Japan (BoJ) held interest rates steady and kept its comprehensive stimulus program intact, but it also dropped the deadline for achieving its 2.0 percent target making it easier to wait for the medicine to take. The Deadline...
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