Share: EUR/USD posts modest gains around 1.0665, up 0.07% on the day. The market expects the Federal Reserve (Fed) to hold interest rates steady at its policy meeting on Wednesday. European Central Bank (ECB) President Lagarde said the potential of further rate cuts was not considered among policymakers. Federal Open Market Committee (FOMC)
The strike by the US United Auto Workers is ongoing. The latest is that the union is rejecting an offer from one of the Big Three automakers, Chrysler parent Stellantis, for a 21% wage increase: a cumulative 21% wage increase with an immediate 10% increase upon a formal agreement. The union is seeking a four-day
Share: Stock Market Report: Trading NASDAQ Stocks: Apple (AAPL),Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft MSFT, Meta Platforms, Netflix (NFLX), Alphabet GOOGL Stock Market Summary: The strong move down in the last session, places the SP500, Nasdaq 100 and most stocks in Wave c) of 4 correction being uncompleted. The current Wave 4 can
Evergrande is one of China’s massively indebted property developer firms in the maelstrom of a property market crisis that is dragging on China’s economic growth. The group is undergoing a restructuring plan, including offloading assets, to avoid defaulting on $340 billion in debt. News is crossing that some staff at the firm’s wealth management unit
Share: USD/CAD stalls its downtrend, finding support at 1.3489, just above the 200-day Moving Average, and trades 0.14% higher. If the pair sustains above 1.3489, it could target resistance levels at 1.3550, 1.3580/90, and the psychological 1.3600 mark. A break below 1.3489 could signal a bearish resumption, exposing the 200-DMA at 1.3463 and
Japanese markets are closed for a holiday today. This will sap some liquidity for FX markets and also shut cash US Treasury trade. Apart from that, it’s a thin calendar also, will little here to move around major forex rates: This snapshot from the ForexLive economic data calendar, access it here. The times in the
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The US dollar has moved lower after the University of Michigan data came in weaker than expectations. The one year inflation expectation came in at 3.1% versus 3.5%. The 5 year inflation expectations was at 2.7% versus 3.0%. The sentiment indices were also lower than expectations. EURUSD: The EURUSD was trying to hold below a
Recommended by Daniel Dubrovsky How to Trade EUR/USD The US Dollar mostly underperformed against its major counterparts this past week, especially against the Chinese Yuan, Canadian Dollar and Australian Dollar. Meanwhile, the Greenback had better luck against the British Pound and the Euro. EUR/USD confirmed a 9th consecutive weekly loss, the longest losing streak since