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admin August 15, 2020

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, […]

admin August 15, 2020

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 […]

admin August 15, 2020

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 […]

admin August 15, 2020

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, […]

admin August 15, 2020

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 […]

admin July 16, 2020

The continuing spread of the coronavirus is likely to put a damper on consumer sentiment, Chicago Federal Reserve Bank President Charles Evans said on Thursday. Additional takeaways “Controlling virus, wearing masks is important to getting consumers feeling comfortable.” “Baseline outlook is for US economy to shrink 30% to 35% in the second quarter with strong growth in […]

admin July 3, 2020

The euro has pulled back against the pound this week to put an end to the three-week rally seen earlier in June. The Rabobank FX Analysis Team, however, remains bullish on the euro expecting the uptrend to resume, aiming to 0.9200. Key quotes “The long-anticipated re-opening of England’s hospitality sector and other service-related businesses on July 4 has been […]