Back below the 100 day MA and moving away The GBPUSD is testing a lower trend line as selling continues in the pair. The run lower moved back below the 100 day MA at 1.25356 and is now inching below the 50% retracement of the move up from the May 22 low. That level comes […]
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S&P index was back to the 3000 level
NASDAQ and S&P index terms negative The S&P index has moved back down to the 3000 level. It currently is trading down -1.7 points or -0.07%. The price is also moved back below its 200 day moving average at 3013.
The USDCHF tests 61.8% and 200 hour MA
New highs for the USDCHF The USDCHF is one of the strongest currency pairs today, rising by over 1%. The price has reached a new session high and in the process is testing the swing lows from June 4 and June 5 at 0.95411 along with the 61.8% retracement and 200 hour moving average at 0.95448. The […]
Cable nears 1.25 in second day of heavy selling
The selling hasn't stopped for hours There has been a relentless drive to sell the pound since New York traders began to arrive. There was a solid bounce to 1.2650 from 1.2550 in early European trade but the selling has been relentless since.
EUR/USD falls to lowest since June 4. What's next
Tuesday's low breaks The euro fell below Tuesday's low and is at the worst level in 8 days. EUR/USD briefly breached 1.1241 and fell as low as 1.1234, which is the lowest since June 4.
More from Fed's Daly: Outcome-based forward guidance has been effective in the past
Fed's Daly is a nonvoting member For bank trade ideas, check out eFX Plus
Fed's Daly: Central bank needs to be prepared to do more to support economy
San Francisco Fed Pres. Mary Davy speaking For bank trade ideas, check out eFX Plus
Fed's Kaplan: Most forces will be disinflationary over next couple of years
Comments from Kaplan Kaplan says that despite the short-term rise in food prices, most forces will be disinflationary in the next couple of years. I think he's right at least through 2021 and probably 2022 but the big forces I see that are becoming structural are:
Fed's George worth considering more fiscal stimulus to aid recovery
Comments from the KC Fed hawk in a radio interview There is nothing that we haven't heard before here. I can't imagine anything she might say that would rock the boat.
Fed opens lender registration for main street lending program
Fed will now let banks register Banks will be originating the loans and holding 5% of it, with the Fed buying the rest. Loans range in size from $250,000 to $300 million and are for 5 years with no interest in the first year and no repayment required until the 3rd year.