US President Donald Trump made a terrible mistake by ending coronavirus aid negotiations, US House Speaker Nancy Pelosi told ABC on Wednesday, as reported by Reuters. “It is really important to come to an agreement on COVID-19 aid,” Pelosi added and said that it was a missed opportunity to not pass a larger relief package. Market
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In its latest credit review of the South Korean economy, Fitch Ratings affirmed Korea’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AA-‘ with a Stable Outlook. Key takeaways “The pandemic has weighed on economic growth and public finances, but domestic control of the virus accompanied by a robust policy response have limited the severity of
The Reserve Bank of Australia (RBA) board members decided to leave its official cash rate (OCR) unchanged at a record low of 0.25% when it met at its October monetary policy review meeting this Tuesday. The AUD/USD pair briefly regained the 0.7200 mark but the more dovish tone than September capped the move, per Westpac.
Analysts at Citibank continue to hold a bullish view on XAU/USD. They see the price of the yellow metal rising to $2,200 in a three-month horizon and to $2,400 in six to twelve months. Key Quotes: “We are bullish gold tactically in the short-term and structurally over the medium-term. We maintain our 0-3m point-price target
GBP/USD trims early-day gains after touching Friday’s top of 1.2954. Fears of harsher lockdown in England, downbeat comments from UK Chancellor Sunak favor bears. Two more rounds of Brexit talks will be held as a final kick to avoid no-deal departure. US President Donald Trump sounds upbeat in the latest video, concerns over dexamethasone usage
Putting rest to the conflicting messages about his health conditions, US President Donald Trump made an appearance himself on Twitter late Saturday, via a four-minute video, noting that he was feeling ‘much better’. In an online message from his hospital suite at Walter Reed National Military Medical Center, he expressed gratitude towards the people of
Soon after Dr. Sean Conley, the White House (WH) physician, said that President Donald Trump is “doing very well,” a few of the WH reporters are contradicting Conley’s assessment. Trump is not yet on a clear path to recovery from COVID-19 and some of his vital signs over the last 24 hours were very concerning,
US President Donald Trump is being transported to Walter Reed National Military Medical Centre. It is being said to be a precautionary measure and that the US leader will be able to carry out his duties in a private office at the hospital. Marine one which is the President’s private helicopter has been used to move
US President Trump has been taken to the Walter Reed Military Medical Center, according to several news feeds, amid having a fever. After early tweeting that he and wife Melania contracted COVID-19, the US President was reported to have “mild symptoms.” Concerns about his health mounted throughout the day after over 15-hours of Twitter’s silence. The
Gold’s hourly chart shows a bearish reversal pattern. The breakdown has exposed the recent low of $1,948. Gold is currently trading at $1,893 per ounce, representing a 0.65% drop on the day. The decline has confirmed a rising wedge breakdown on the hourly chart. The bearish reversal pattern indicates that the recovery rally from the
Challenger Job Cuts in the US rose modestly in September. S&P 500 futures are clinging to strong gains after the data. Planned job cuts in the US-based employers increased by 2.6% from 115,762 in August to 118,762 in September, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. Commenting on the report, “The
In a CNBC interview, the Fed’eral Reserve’s Daly said the US economy is not out of the woods, needs more fiscal support. Daly adds that the unemployment rate is an ‘overused’ measure, in a very ‘big ditch’ on the labour market. Daly says epidemiologists tell her to expect vaccine or therapeutics by middle of 2021, that’s factored into
China’s growth has slowed markedly since the early 2010s. But how high will China’s growth be in the decades of the 2020s and 2030s? It is possible to build a scenario of very low potential growth in China (between 1.5% and 2%), which would have a major effect on global trade and global demand for
“I’m not concerned about the dollar losing it’s very important status,” New York Federal Reserve President John Williams said on Tuesday, as reported by Reuters. Additional takeaways “Fed’s emergency facilities, with exception of the Main Street, are basically operating more of a backstop role.” “The banking system came into this episode with very strong capital.” “The
Gold Price Analysis: XAU/USD looks north, two key levels to watch out – Confluence Detector Gold (XAU/USD) started out the US Non-Farm Payrolls (NFP) week on a solid footing, rallying nearly $20 on Monday. The metal bounced-off the SMA100 one-day support for the third straight day, courtesy of the broad retreat in the US dollar
British Cabinet Minister Michael Gove told reporters on Monday that he had a constructive meeting at the Joint Committee and noted that both sides were clear on where they were still “some distance apart,” as reported by Reuters. Additional takeaways “We need to go further, other talks I hope will go well.” “British Prime Minister Boris
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Gold looks south, with the focus on the key 100-DMA support. $1932/42 zone is the level to beat for the bulls. Focus on US NFP release for the next direction in gold. Following the 4.5% weekly loss, Gold (XAU/USD) has locked itself in a $100 range stepping into the critical US Non-Farm Payrolls week, as depicted