President Donald Trump’s announcement that no further stimulus talks will happen until after the November election will put a dent in efforts to bring the economy back from its coronavirus pandemic-induced slide, Cleveland Federal Reserve President Loretta Mester said Tuesday. “Certainly, you know, the recovery will continue without it, I think, but it’s going to
Gold bulls catch a breather around three-week high near $1,930 flashed on Friday. Fresh challenges to US stimulus, Brexit and the coronavirus news probe the metal’s latest upside. Off in the US, light calendar in Asia restrict market reaction. Gold takes rounds to $1,928/29, following the day-start weakness to $1,926.40, during the pre-Tokyo open Asian
Range for the day has reached 120 pips The GBPUSD has continued the run to the upside seen in the NY session. The range at the start of the NY session was only 50 pips. That range has been extended by 70 pips to 120 pips so far. Although higher, it is still below the 22 day average of
A record daily raise in the number of newly confirmed COVID-19 cases for France. Elsewhere in Europe: The UK reported more than 15,100 new cases on Saturday. Spain has declared an emergency in Madrid for 15 days Germany has introduced new restrictions, including a curfew on bars and restaurants (11pm) A few updates … sheesh
By Julian Lee Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago. Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face multiple
As suggested in the CFTC Commitments of Traders report in the week ended October 6, NET SHORT for USD Index futures dropped further, by -2 521 to 3 034 contracts. Speculative long positions increased +3 669 contracts and short positions added +1 148 contracts. Concerning European currencies, NET LENGTH in EUR futures slumped -13 808
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Mortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call their lenders and apply for a refinance, but homebuyers
Gold poised for a rally towards the $2000 mark in the week ahead. Bulls charted a classic falling wedge breakdown on the daily chart. A break above 50-DMA resistance is critical to take on the further upside. Following the settlement at two-week highs of $1930, Gold (XAU/USD) remains poised to extend the bullish momentum into a
When specific market forces (Price Action, Trend, Momentum and Market Strength) are working in unison, the combined effect can produce higher probability trades. The Sync trading method depicts…in real-time…the interaction of these market forces providing traders the means to make trading decisions with greater confidence and less emotional hassle. Sync is designed in a simple-to-use
This video has explained what is FOREX trading and how the profit or loss is calculated in FOREX trading. It also has explained the importance and definition of leverage which is very essential for the forex beginners. FOREX, stock, or commodity trading is widely accepted in the global platform. It is a highly competitive market.
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Range is above the average range The USDCHF as trended lower with the dollars move lower today. The range today has been an extended 75 pips. That is 21 pips above the average trading range seen over the last 22 trading days. For the week, last Friday the pair closed at 0.9196. The price traded to a
Trade idea from Mitsubishi UFJ MUFG recommends selling EUR/AUD with a target of 1.5900 and a stop at 1.6700. The pair closed the week at 1.6333. “We are recommending a short EUR/USD trade idea to reflect in part the recent divergence in the spread of COVID-19 which will have implications for relative economic performance going
Blockchain payments company Rocketfuel Blockchain is suing its co-founder for allegedly misrepresenting patent applications and defrauding the firm. In a complaint filed with the Central District Court of California, Rocketfuel claimed its co-founder and former treasurer Joseph Page hid the fact that patents he transferred to the company had expired. The company is seeking damages
LONDON: Oil prices fell on Friday, erasing an earlier rise but still leaving both benchmarks on track for their biggest weekly gains since early June on the back of supply cuts caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway. Brent was down 31 cents at $43.03
Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump’s coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too. On the other hand, Canadian Dollar was doubled boosted by
One of the biggest changes brought on by the coronavirus pandemic has been the inundation of working from home — and it doesn’t come without challenges. As an economics professor at Stanford University, I’ve talked to dozens of CEOs, senior managers and policymakers about the future of work. This has been built on my own years
The People’s Bank of China (PBOC) will slash its reserve requirement ratio (RRR) to zero for some forex exchange forwards trading, effective from Monday, the central bank said on its website this Saturday. The PBOC said: “The People’s Bank of China (PBOC) will continue to maintain flexibility in the exchange rate, stabilize market expectations, and