Blogs

Gold price action is trapped in between the key hourly moving averages See here for global coronavirus case data The recent downside move met support close to $1,693 and that level was tested once again in overnight trading, before price rebounded towards the 200-hour MA (blue line).

<p>US GDP contracted -4.8% annualized in Q1 slightly worse than expectation of -4.0% annualized. That’s the largest decline since 2008 and marked the formal start of a recession. Looking at some details, personal consumption expenditures dropped -7.6%. Gross private domestic investment dropped -5.6%. Exports of goods and services droppe

<p>UK Foreign Minister Dominic Raab said said today that the government’s “position is unchanged” regarding Brexit. That is, “the transition period ends on the 31st of December, that is enshrined in law.” He further told the parliament, “there is no intention of changing that and actually what we should do

<p>Economic sentiment “crashed” in both Eurozone and EU in April. Eurozone Economic Sentiment Indicator dropped -27.2 pts to 67.0. EU ESI dropped -28.8 pts to 65.8. These were the strongest decline in the ESI on record since 1985. The indicators are now far below their long run averages of 100 and very close to the […]

<p>Dollar’s weakness continues today as largest GDP contraction in more than a decade gives no help. A wave of selling is seen in Sterling in European session. Yet there was no sustainable momentum so far. Yen is follow as the third weakest on mild yet solid risk appetite. Commodity currencies are currently strongest. Focus will [&helli

<p>The Chinese National Bureau of Statistics (NBS) will publish April’s manufacturing PMI survey on Thursday at 01:00 GMT and analysts expect a tiny pullback after last month’s incredible rebound that drove the index to pre-outbreak levels. While the slowdown in the data may not downgrade hopes of further improvement in the second quarter, th

<p>Dow pops on Gilead’s news, US economy contracts, Boeing’s job cuts, Oil higher as forced cuts near, Gold down Gilead’s results, Bitcoin pops The US recession is beginning, but financial markets seem to only care about Gilead’s Remdesivir. Risk appetite is roaring back on news that positive data came out of the National Institute of [&helli

<p>WTI oil advanced around 9% during Wednesday’s Asian / European trading and extended bounce from Tuesday’s $10.05 spike low above $14 per barrel. API crude stocks data released on Tuesday, showed smaller than expected build in crude inventories during the past week that sparked fresh optimism among traders and lifted oil price.

<p>The American economy shrank by 4.8% annualized in the first quarter of 2020 – the biggest decline since the Great Recession (Q4 2008 when GDP fell by 8.4% annualized). That came in a bit worse than the 4% drop markets were expecting. The advance estimate of GDP is based on source data that are incomplete, […]

<p>Q1 GDP declined 4.8% from Q4 (annualized rate) Consumer spending posted largest decline since the 1980s recession Q2 data will be much worse Social/physical distancing measures already pushed US GDP sharply lower in Q1 – despite those disruptions only really ramping up in the last couple of weeks of the quarter. But the magnitude of