Author: FX
JPMorgan economists now no longer expect a US recession ‘this calendar year’. This is one of those instances where it becomes abundantly clear that the consensus has moved from recession…to mild recession…to soft landing…to no landing. I still think there’s room for optimism in risk assets because so much money that was on the sidelines is looking for a dip to buy but we’re likely past the easy money phase.Here’s the note: Source link
Share: Analysts at Rabobank see the US Dollar appreciating against the Euro and the Pound over the next few months. They point out that the relative resilience of the US economy suggests that it will be some time before monetary policy is eased. Key quotes: “Fitch’s decision to downgrade the US credit rating has turned attention to next week’s Treasury supply, though the USD’s safe haven appeal suggests that impact from the Fitch decision is likely to be limited.” “Fed policy remains in the driving seat. While we expect that Fed funds have likely peaked, a higher for…
Share: Mullen held its shareholder meeting on August 3 but it is unclear whether the company received enough votes for another reverse stock split. July US Nonfarm Payrolls surprised to the downside – weighing on the US Dollar but supporting stocks. S&P 500 and NASDAQ 100 both gain in early Friday trade Mullen Automotive (MULN) stock slumped nearly 10% on Friday despite the broader averages advancing at a healthy clip. The poor showing comes a day after MULN stock added 12%, closing at $0.1365. The US Nonfarm Payrolls data came in below expectations. This was largely seen as positive by the equity market as…
Share: USD/CAD reversed its course during the American session and got rejected by the 100-day SMA, falling to near 1.3335. NFPs showed that job creation in July cooled down while wages increased. Canada reported soft labour market and economic activity figures. On Friday, the USD/CAD cleared daily gains and fell into negative territory as investors dumped the USD following Nonfarm Payrolls, which revealed that job creation cooled down in July. Canada also reported weak labour market data, so the factor driving the pair downwards was mainly the broad USD weakness from lower US yields. The latest Nonfarm Payrolls report for the…
GBP/USD and EUR/GBP Analysis and ChartsGBP/USD is down one cent over the week in thin trade.EUR/GBP remains rangebound. Recommended by Nick Cawley How to Trade GBP/USD UK Breaking News: BoE Hikes by 25bps to 15-Year HighThe Bank of England raised interest rates by 25 basis points on Thursday, in line with market forecasts, and left the door open for a further hike at September’s meeting. The UK central bank has now raised interest rates, by varying degrees, for 14 months in a row as it tries to control stubbornly high inflation. The latest market pricing shows a 67% probability of…
Orrstown Financial goes ex-dividend tomorrow Source link
© Reuters. Investing.com — U.S. stocks were rising as investors digest the latest Big Tech earnings and as the July jobs report showed the economy added fewer positions than expected last month. By 09:41 ET (13:41 GMT), the was up 159 points or 0.4%, while the was up 0.5%, and the was up 0.7%. The benchmark Wall Street indices closed lower Thursday, taking a breather after hefty gains during July, with surging bond yields weighing. Jobs report in spotlight The tech sector has led the way on the promise of artificial intelligence to the industry and in hope the would…
JULY LABOR MARKET REPORTJuly U.S. nonfarm payrolls at 187,000 versus 200,000 expectedUnemployment rate ticks down to 3.5%, one-tenth of a percent below consensus estimatesGold rises while the U.S. dollar slides following the release of the employment report Recommended by Diego Colman Get Your Free USD Forecast Most Read: Euro Price Outlook – EURUSD on Breakout Watch, EURGBP Range ContinuesU.S. employers continued to add to their ranks at a healthy pace at the start of the third quarter for an economy in the advanced stage of the business cycle, but hiring slowed moderately from earlier in the year, a sign that…
At this point we’ve already heard from Saudi Arabia and Russia about their policies for September so there’s not much for the JMMC to say. WTI crude is up 34-cents to $81.89. This article was written by Adam Button at www.forexlive.com. Source link
Ages ago, horsemen invented blinders to keep their horses focused on their work. Blinders are pieces of leather attached to the horse’s bridle that prevent them from seeing anything except what’s in front of them. Without blinders, a horse can see almost completely behind itself without turning its head and can be easily spooked by movement or objects it doesn’t recognize. By having fewer distractions, the horse is more dependable and is better focused on getting the job done. As a trader, I’ve found that whenever I started comparing my trading performance with other forex traders, my performance would usually…