The US economy is expected to grow by 3.8% in the third quarter of 2021, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases increased the nowcast for 2021:Q3 by 0.1 percentage point,” the NY Fed explained in its publication. “Positive surprises from PPI price
FX
EUR/USD edges higher on Friday in the Asian session. Higher US Treasury yields undermine the demand for the US dollar. US Dollar Index retreats from the high of 93.00 stays elevated. EUR/USD refreshes daily high with minute gains on Friday in the Asian trading hours on Friday. The pair hovers in a narrow trade band
US dollar holds onto modest daily gains across the board. GBP/USD heads for the lowest daily close in two weeks. The GBP/USD dropped further after the beginning of the American session and printed a fresh daily low at 1.3821. Cable is hovering around 1.3830 and it has erased Wednesday’s gains. The combination of a stronger
AUD/NZD embraces the previous session’s losses on Thursday. Additional losses if pair decisively breaks 1.0460. Momentum oscillators indicate underlying bearish sentiment. AUD/NZD continues to skid down on Thursday Asian’s session. The pair opened took multiple support near 1.0460 level. At the time of writing, AUD/NZD is trading at 1.0460, down 0.09% for the day. AUD/NZD
GBP/JPY keeps facing a strong resistance at 153.30/50. The bullish bias is still in place, but the price is near critical short-term support. The GBP/JPY is moving with a slightly bullish bias, facing a strong resistance around 153.30/50. The bullish outlook is being supported by the critical area around 152.85/90, which contains the 21-SMA and
GBP/USD extends a four-day losing streak ahead of the US CPI data. The cable is challenging 21-DMA support at 1.3831. Bearish RSI calls for a test of the 200-DMA support. Following the rejection above 1.3900 last Friday, GBP/USD is extending the bearish momentum into the fourth straight this Wednesday. At the time of writing, GBP/USD is
USD/JPY continues to push higher in American session. 10-year US Treasury bond yield is rising for the fifth straight day. US Dollar Index stays in the green above 93.00. The USD/JPY pair extended its daily advance in the early American session and reached its highest level since mid-July at 110.60. As of writing, the pair
Apple stock still golding near all time highs. AAPL shares look ready to fall. Results were 30% ahead of estimates but the stock has not pushed on. Apple stock continues to trade just under all time highs at $150 and is in a sideways range will little strong direction to get our trading teeth stuck
GBP/USD Analysis: Bears looking to seize control below descending triangle support The GBP/USD pair struggled to capitalize on its post-BoE positive move and witnessed heavy selling on Friday amid a broad-based US dollar strength. Stronger-than-expected US monthly jobs report fueled speculations that the Fed could start tapering its asset purchases later this year, which, in
“Resurging cases of the COVID-19 virus and the austere measures imposed by regional authorities may hurt consumption and service sectors of China’s economy in the near term,” reduce employment and slow logistics, Chinese online media outlet, Yicai.com reported, citing economists. Read: China’s GDP forecast revised down sharply to 2.3% QoQ in Q3 – Goldman Sachs
What you need to know on Monday, August 9: The greenback soared at the end of the week, ending it with gains against most major rivals, following an upbeat US Nonfarm Payroll report. The US added 943K new jobs in July, while the Unemployment rate contracted to 5.4%, both largely beating the market’s expectations. The
GBP/USD drops to one-week lows under 1.3875 amid a rally of USD US dollar extends gains during the American session as US yields soar. Cable fails to hold to weekly gains, drops below 1.3900. The GBP/USD extended the decline to 1.3860, the lowest level in a week, on the back of a stronger US dollar
AUD/USD came under renewed bearish pressure on Friday. US Dollar Index is pushing higher toward 93.00. Nonfarm Payrolls in the US rose more than expected in July. After spending the majority of the day moving sideways a little below 0.7400, the AUD/USD pair turned south and was last seen losing 0.63% on a daily basis
US Senate Majority Leader Chuck Schumer progressed towards closing the debate on a $1 trillion bipartisan infrastructure bill, Reuters reported early Friday. However, the Senate remains unclear on a probable vote on passage this Saturday, Reuters said. Schumer still hopes Senate might complete infrastructure bill late Thursday, otherwise work to continue on Saturday. Market reaction
AAPL shares rebound on Tuesday, up 1.3% on the day. Apple looks technically bearish but has yet to trigger its double top. AAPL stock showing bearish divergence on RSI. Apple stock pout in a pretty solid day on Tuesday closing up 1.3% at $147.36. The markets were a little shaky early on with big tech
The Asian market mood is cautiously optimistic, with the S&P 500 futures adding gains, despite the negative close on Wall Street overnight. The Asian stocks trade mixed, undermined by the renewed weakness in the Chinese equities. The sentiment remains weighed down by China crackdown and coronavirus outbreak worldwide. According to Chinese state media, the country’s
Fed Vice Chair Richard Clarida noted on Wednesday that he has been surprised by the magnitude of the decline in the bond yields, as reported by Reuters. Additional takeaways “Global move in bond yields is quite pronounced.” “Bond moves are not driven by a drop in inflation expectations.” “Bond moves could be due to fears
Analysts at Bank of America Global Research (BofA) offer their expectations from ‘Super Thursday’s’ Bank of England (BOE) monetary policy meeting. Key quotes “The Bank of England (BoE) doesn’t provide guidance anymore, so we do not expect any clear signals from this week’s BoE policy meeting.” “The BoE’s inflation forecast is the best signal we will