Blogs

WSJ report The WSJ is out with a on the Fed, citing people familiar who say the Fed isn't planning anything big but is likely to buy more state and local debt.

Nikkei report The Bank of Japan is considering unlimited bond buying, according to Nikkei. The BOJ has entered into final adjustments to issue additional monetary easing measures at the monetary policy meeting on the 27th, following the rapid economic deterioration caused by the spread of the new coronavirus. Purchases of government bonds to elimin

<p>US PMI Manufacturing dropped to 36.9 in April, down from 48.5, a 133-month low. PMI Services dropped to 27.0, down from 39.8, a record low. PMI Composite dropped to 27.4, down from 40.9, also a record low. Chris Williamson, Chief Business Economist at IHS Markit, said: “The COVID-19 outbreak dealt a blow to the US […]

<p>Euro suffers heavy selling in today on terrible PMI data, which suggests that the coronavirus pandemic damage could be far more severe than imaginable. The common currency drags down the Swiss Franc too. Dollar couldn’t ride on Euro’s weakness and even faces some selling after another set of astronomical jobless claims numbers.

<p>Daily Pivots: (S1) 1.7048; (P) 1.7171; (R1) 1.7240; More… EUR/AUD’s fall from 1.9799 resumed by taking out 1.7003 temporary low. Intraday bias is back on the downside for 1.6597 key support next. Sustained break there will carry larger bearish implications. on the upside, break of 1.7321 minor resistance will indicate short ter

<p>Daily Pivots: (S1) 116.27; (P) 116.74; (R1) 117.05; More…. EUR/JPY drops to as low as 115.72 so far. Intraday bias is back on the downside. Sustained trading below 115.86 low will confirm larger down trend resumption. Next near term target will be 100% projection of 121.14 to 116.33 from 119.00 at 114.19. On the upside, […]

<p>USDCAD made a rally recently from the 1.385 level, which is a sign that a higher degree wave 4) correction is completed, and that a new five-wave cycle is underway into a wave 5). That said, for further evidence that bulls are in charge we would like to see a break of the 1.435 level. […]

<p>The pair fell to the lower side to a week-long congestion, pressured by fresh demand for safe-haven yen and fall of EURJPY (cross dropped to new three-year low on Thursday) on weaker euro after disappointing European PMI data. Near-term structure weakened after Wednesday’s failure to close above cracked 10DMA (which caps the action i

<p>Initial jobless claims edged down to a still elevated 4.4 million for the week ended on April 18th , broadly in line with market expectations of 4.3 million. This was a decrease of 810K from the previous week. Continuing claims recorded 15.98 million for the week ended on April 11th, just below market expectations (+16.48 […]

Despite the disappointing macroeconomic data releases from the US on Thursday, the market sentiment turned positive and caused the greenback to come u