India’s Economy, Slammed by Covid-19, Needs Its Lost Growth Strong figures compared with last year’s performance belie lingering weaknesses that could hold back needed job creation.Small traders and daily wage laborers suffered bigger job losses during the lockdowns than others, though they were able to go back to work once the restrictions were lifted.
Gold Price Outlook Mired by Failure to Test August High The price of gold may consolidate ahead of the US Non-Farm Payrolls (NFP) on tap for later this week amid the failed attempt to test the monthly high ($1832).
Dollar buying into the fix US rates also tick to the upside EURUSD: The EURUSD fell back below the 61.8% retracement at 1.18146 and that break, pushed the price down toward the swing area near 1.1800 and 1.18044.
US dollar catches a bid into the month-end fix Dollar strengthens There are big dollar-positive flows pushing up the US dollar into the month-end London fix. With the holiday yesterday, month-end flows could be especially large.
USDCHF falls down to test the 100 day MA level Up and down trading range over the last 12 days The USDCHF has seen up-and-down price action over the last 12 trading days (see red box). That volatility has seen the price remain within a fairly narrow 107 pip trading range. Between the extremes sits the 100 and 200 hour moving averages (blue and green lines) which are near
ECB's Knot: Practically all the incoming news has been a surprise on the upside Comments from the Governing Council member
US Dollar (DXY) Muted as US Consumer Confidence Drops US Consumer Confidence drops on Delta concerns. USD muted with focus on more important data.
Gov. Hochul Picks Obama Administration Veteran to Lead New York's Top Financial Regulator Adrienne Harris was nominated to lead the New York State Department of Financial Services, which oversees insurance companies and state-chartered banks
Firms Estimate Hurricane Ida Could Cause Over $15 Billion in Insured Losses Hundreds of thousands of homes are seen as at risk from the storm, which made landfall in New Orleans Sunday.
EURGBP moves back below its 100 day MA. Run higher fails EURGBP is in play today The EURGBP saw basing against its 200 hour moving average over the last four or so trading days (see green line in the chart below). However, there is also been a ceiling near its 100 day moving average (higher blue line at 0.8583).
UK consumer borrowing fell to zero in July as Covid cases climbed Rising infection numbers sapped households’ willingness to spend
US August consumer confidence 113.8 vs 124.0 expected US August consumer confidence data from The Conference Board Details:
Afghan Crisis Must End America’s Empire of War, Corruption and Poverty The US "lost" AFghanistan by enriching military contractors and grifters, um, mercenaries, and plans to continue to punish the Afghan people
South Korea Forces Apple and Google to Change In-App Payments The law, the first of its kind in the world, deals a blow to the market dominance of the tech giants, which opposed the bill.Apple and Google control more than 85 percent of South Korea’s app market, lawmakers say.
Why US consumer confidence today could be another big surprise The shock drop in the UMich survey could be repeated I think the market is sleeping on the risks around an ongoing pullback from the US consumer. US total consumer spending on goods way overshot during the pandemic and just to normalize would be a contraction.
US stocks open lower Doubt down for the third time in four trading days A snapshot of the market seven minutes into the opening currently shows: In the forex, the NZD remains the strongest of the majors (was the strongest at the start of the North American session), the CAD is the weakest now (which is a tad weaker than the USD).
GBPUSD moves back toward close from yesterday after run to the 200 day MA found sellers Sellers leaned ahead of the 200 day moving average Within that area sits the 50% midpoint of the range since the July 30 high at 1.37921, and the key 200 day moving average a little higher at 1.38023.
Sneaker Maker Allbirds Files for IPO The San Francisco-based sustainable shoe brand known for its eco-friendly sneakers plans to list on the Nasdaq.
Oil declines $1 as worth month since October winds down WTI down $1 to $68.16 The combination of some dollar strength, a bit more caution on risk and tomorrow's OPEC+ meeting is weighing on oil today. WTI is down $1 to $68.16 but I want to highlight the monthly chart.
Here Are The Winners of Remote Work There are already examples of how gains are captured by the few and not the many.Most fitness instructors were out of work during pandemic lockdowns. But a handful of them were thriving — especially those who worked for Peloton.
USDJPY falls to test the 100 day MA. Dip buyers lean against the key MA level It is month end.. The USDJPY saw a quick move lower over the last hour of trading. The move saw the price tumble to the downside - breaking the 200 hour MA in the process (again) and running to test the 100 day moving average at 109.651 (). The low price reached 109.64. Buyers leaned against the key moving average level.