Political turmoil paused this week, focus shifted to pandemic-related headlines. Minutes from the Fed and the ECB next week could bring back speculation. EUR/USD holds on to its long-term bullish bias, minor diverges appeared these days. Market players took a cautious approach this week, leaving EUR/USD confined to familiar levels. For a second consecutive week, […]

Sales in July gain 1.2%, less than the 1.9% consensus estimate. Control group consumption component adds 1.4% beating 0.8% forecast. Sales in June revised higher in all three categories. Dollar fades slightly, equites flat, Treasury yields higher on the week.   American consumers pulled back on spending after two torrid months as deferred auto sales […]

Kamala Harris, former Vice-President Biden’s choice for running mate, is an accomplished national politician and was a candidate for the nomination herself.  With 59% of likely voters saying it was probable that Biden’s vice-president would become the chief executive over the course of his term, she is guaranteed an outsized role in the campaign. Her candidacy […]

Gold erased more than 4% last week and closed below $1,950. Correction could extend to $1,850 area if bearish pressure remains intact.  $2,000 psychological resistance will be a key level to watch. After closing the previous nine weeks in the positive territory, the troy ounce of precious metal finally staged a deep correction and lost […]

Previewing next week’s key macroeconomic events in the US, which includes the FOMC’s July meeting minutes, “at the July FOMC meeting the Committee did not initiate any new policy actions and changes to the statement were minor,” TD Securities analysts noted. Key quotes “While the Fed chairman did not provide any major details on the review or forward guidance, […]

US President Donald Trump told a press conference on Friday that he will not cut a deal with Democrats on the coronavirus relief bill because of the money they are seeking for cities and states. Key takeaways “If Democrats give us what we want, would agree to $25 billion for the postal service.” “Waiting for Democrats […]

Analysts at MUFG Bank, keep a trading idea of shorting the EUR/USD pair with a target at 1.1600 and a stop loss at 1.1950. They consider that the situation in Turkey and changing dynamics regarding the coronavirus could trigger a deeper correction lower.  Key Quotes: “It is short-term tactical trade to reflect the increasing risk […]

Here is what you need to know on Friday, August 14, 2020. Markets: BTC/USD again failed in the journey to overcome the resistance at $12,000. The bullish leg made it above the resistance at $11,600 but hit the next hurdle at $11,800. At the time of writing, Bitcoin is trading at $11,716. An intraday low […]

The White House has been pushing a V-shaped recovery narrative that is not reflected in current data. One big sticking point is the rescue package being negotiated in Congress. Lack of new funding could further stunt activity. “Dreams of a V-shaped recovery are long gone,” said Beth Ann Bovino, U.S. chief economist for S&P Global. […]

Minneapolis Fed President Neel Kashkari is advocating a full economic shutdown for up to six weeks to halt the Covid-19 spread. In a Friday New York Times op-ed he authored with Michael T. Osterholm of the University of Minnesota, Kashkari said the initial March lockdown didn’t go far enough. “To be effective, the lockdown has to be […]