US IBT/TIPP Economic Optimism Index edged lower in August. S&P 500 and Nasdaq Composite trade in the negative territory. The headline Economic Optimism Index of Investor’s Business Daily (IBD) TIPP poll declined to its lowest level since February at 53.6 in August from 54.3 in July. “The return of Covid and rising financial stress, as
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Analysts at Societe Generale note that the Reserve Bank of Australia (RBA) is likely to postpone its tapering announcement this Tuesday amid current Delta covid variant outbreaks in Australia. Key quotes “We expect that the policymakers will announce to postpone the tapering until the recovery of the economy from the current outbreak is confirmed.”
Silver witnessed some selling on Monday and eroded a part of last week’s recovery gains. The set-up seems tilted in favour of bearish traders and supports prospects for further losses. Silver traded with a mild negative bias through the early North American session and was last seen hovering near the lower end of its intraday
AUD/USD remains pressured, refreshed intraday low after China data. China Caixin Manufacturing PMI for July dropped to 50.3, Aussie data came in mixed earlier in the day. Market sentiment dwindles amid US infrastructure spending talks, Sino-US tussles, Iran headlines mostly ignored. US ISM Manufacturing PMI, stimulus updates will be the key. AUD/USD takes offers around
What you need to know on Monday, August 2: The American dollar got to advance on Friday, although ended the week with losses against its major rivals. The currency benefited from softer-than-anticipated US inflation figures, as the core PCE Price Index, the US Federal Reserve favorite inflation figure, printed at 3.5% YoY in June, ticking
The purchasing managers’ index (PMI) for China’s manufacturing sector dropped to 50.4 in July from 50.9 in June, the latest data published by the National Bureau of Statistics (NBS) showed Saturday. The actual data missed the consensus estimate of 50.8. Meanwhile, the Non-Manufacturing PMI eased slightly to 53.3 in July from 53.5 in June. A reading above
GBP/USD drops further to 1.3890, but secures weekly gains Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week’s key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since
St. Louis Fed President James Bullard said on Thursday that the second-quarter GDP was a bit lower than expected six or eight weeks ago but noted that he still sees a strong growth toward the end of the year, as reported by Reuters. Additional takeaways “Still expecting 7% full-year growth for US in 2021.” “Seeing above-trend
USD/CHF holds lower ground after breaking the key moving average. Bearish MACD, sustained break of 200-DMA favor sellers. 61.8% Fibonacci retracement offers immediate support, mid-July low adds to the upside filters. USD/CHF picks up bids inside a less than 10-pip area surrounding 0.9050 during Friday’s Asian session. The major currency pair dropped to the lowest
Weekly Initial Jobless Claims in US declined by 24,000. US Dollar Index stays in the negative territory near 92.00. There were 400,000 initial claims for unemployment benefits in the US during the week ending July 24, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print
AUD/NZD snaps two days’ upside momentum on Thursday. Cross hangs near multi-month resistance, weakness persist below 1.0600 Momentum oscillators indicate underlying bearish sentiment. AUD/NZD pares part to its previous day’s gains in Thursday’s Asian session. The pair opened higher, albeit fizzled out quickly to touch the low of 1.0587. At the time of writing, AUD/NZD
US international trade deficit US continued to expand in June. US Dollar Index stays in the positive territory above 92.60. The advanced data published by the US Census Bureau revealed on Wednesday that the international trade deficit increased by $3 billion in June to $91.2 billion from $88.2 billion in May. “Exports of goods for June
GBP/USD rebounds toward 1.3900 as USD weakens GBP/USD extends the previous two day’s gains in Wednesday’s Asian session. The pair trades in a very narrow trade band and awaits for confirmation. At the time of writing, GBP/USD is trading at 1.3879, up 0.04% for the day. The US Dollar Index (DXY), which tracks the greenback
EUR/HUF breaches 360.00 post-MNB decision. The Hungarian central bank (MNB) hiked rates by 30bps. The Hungarian forint leaves behind the earlier weakness and now drags EUR/HUF to the area of 2-day lows in the sub-360.00 region. EUR/HUF weaker on MNB decision EUR/HUF reverses two consecutive daily advances and slips back below the 360.00 mark after
Gold (XAU/USD) licks its wounds around $1,798 amid a subdued Asian session on Tuesday. The yellow metal bounces off an intraday low, but remains depressed for the third day in a row, as market players embrace the week’s key data/events amid mixed risk-related headlines. While the coronavirus numbers in the UK and Australia placate market
Tesla releases results after the close today, Monday, July 26. TSLA has been largely trading sideways along with the 200-day moving average. Results should at least give some direction to the stock. Tesla has been holding steady around the 200-day moving average since the middle of June when the strong uptrend broke down. The move through
NZD/USD moves cautiously on Monday with positive bias. The US Dollar Index slips from the 93.00 mark and trades lower. The US Treasury yields remain below the 1.300 level, undermining the demand for the greenback. NZD/USD kickstarts the fresh trading week on a higher note in the Asian session. The pair seems to struggle to
In a statement published on Friday, US Treasury Secretary Janet Yellen urged Congress to act as soon as possible on debt limit, as reported by Reuters. Additional takeaways “US will meet statutory limit on debt on August 1.” “Treasury will suspend the sale of state and local government securities at noon on July 30.” “Treasury will need