AUD/USD is in a current bullish environment according to technical indicators. However, bears could be encouraged at near-term resistance structures. Longer-term, there will be bearish prospects below 0.6960 and 0.7020. AUD/USD has been in the hands of the bears while correcting five months of an otherwise uninterrupted bull trend. The 38.2% Fibonacci retracement is way down
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EUR/USD pares its decline in a slight nudge higher from 1.1804 to 1.1819 For bank trade ideas, check out eFX Plus The German economy is keeping more resilient in the wake of the second virus wave in Europe, as the manufacturing sector is doing the heavy lifting – helped by export demand – in limiting
Coronavirus daily numbers from Europe: France reports 45,422 cases (positivity rate 16% vs 8% a week ago) UK reports 23,012 cases vs 20,530 the day prior Italy reports 19,644 vs 19,143 Netherlands reports 8669 That’s a new record for Italy/France and the others are all very close. Expect the weekly pattern to show lower numbers
BENGALURU/MUMBAI: Gold premiums in India jumped to their highest in nearly three months this week, as jewellers continued to stock up on hopes of more customers visiting stores as the festive season gathers pace. Indians celebrate Dussehra on Sunday and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Investment demand was good
As suggested in the CFTC Commitments of Traders report in the week ended October 20, USD Index futures returned to NET SHORT of 1 666 contracts. Speculative long positions decreased – 2042 contracts and short positions added +61 contracts. Concerning European currencies, NET LENGTH in EUR futures declined -2 694 contracts to 165 943. NET
A Democratic sweep in the coming U.S. elections will likely unleash more fiscal stimulus, but it could also cause the Federal Reserve to hike interest rates earlier than expected, said a Morgan Stanley portfolio manager. The first rate hike by the Fed could be brought forward from around 2024-2025 to 2023-2024 — depending on how
In this screengrab, Evan Spiegel, CEO of Snap, Inc., takes the stage at the virtual Snap Partner Summit 2020. Getty Images Snap said it’s seeing positive momentum in the ad market, including in the brand advertising segment that struggled in the early days of the the coronavirus pandemic. The company also said that Q3 results were
AUD/USD bounces up at 0.7100 and returns to 0.7130 area. The aussie is set for a weekly gain despite the dovish RBA. US elections and RBA to push the AUD below 0.7000 – Westpac Australian dollar’s bearish reaction from one-week highs at 0.7155 area has been supported above 0.7100 and the pair managed to pick
The dollar slips to its lowest levels on the day The more upbeat German manufacturing PMI data earlier is helping to give regional stocks a broader lift and in turn that is translating to some weakness in the dollar now. This also comes as the euro is nudging a little higher and buyers have seized
Lots of high profile names to announce earnings this week The earnings calendar for the week will ignite with a broad range of some of the biggest of the big names. On Thursday alone we get all the FAANGs sans Netflix (which disappointed with their subscriber numbers this week), but Facebook, Amazon, Apple, and Google
The ease of laundering money in the U.S. before 1970 boggles the mind. Prior to the Bank Secrecy Act (BSA) of that year, there were no federal standards for banks to keep records on activity that fell under the category of “suspicious.” There were also no consistent reporting requirements — it was the BSA that
By Casey Wagner and Vildana Hajric Billionaire investor Mike Novogratz is doubling down on a call Bitcoin serves as digital gold. “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” Novogratz, founder and chief executive officer of Galaxy Investment Partners, said in an interview with
Funds were flowing out of US assets last week as Dollar ended as the worst performing major currency. Treasury yields surged as bonds tumbled while stocks gyrated lower. But the movements were not decisive enough yet as the greenback still holds above recent lows against major currencies like Euro and Yen. Dollar trader would probably
Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) While it appears that the economy has sharply bounced back from the pandemic’s blow, this is actually a “steroid kind of recovery,” JPMorgan Asset Management’s David Kelly told CNBC. “We have seen what looks like a V-shaped recovery,
A customer carries a Chipotle Mexican Grill Inc. bag outside a restaurant in San Francisco, California, U.S., on Monday, July 20, 2020. David Paul Morris | Bloomberg | Getty Images Chipotle Mexican Grill on Wednesday reported quarterly same-store sales growth of more than 8%, but a shift to delivery is boosting costs and resulting in