Rising short exposure among retail traders has coincided with recent gains in global equity indexes such as the Dow Jones, DAX 30 and CAC 40. If this trend persists, prices could remain lifted.
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Stock Markets Rise Even As Coronavirus Remains Unconquered. Why?
Many stock markets have staged impressive comebacks since the end of March despite there being no obvious good news to cheer.
AUD/USD Rate Correction to Face Australia Employment Report
Fresh developments coming out of Australia may rattle the recent correction in AUD/USD as the economy is expected to shed 30.0K jobs in March.
British Pound Gains, US Dollar Sinks Despite IMF and Bank Warnings
The British Pound rose as the US Dollar sank, extending the GBP/USD uptrend towards key resistance. Wall Street climbed as investors brushed aside warnings from the IMF and US banks.
S&P 500 Finishes Higher as Bank Earnings Underwhelm Start to Earnings Season
The S&P 500 Index finished over 3 percent higher Tuesday after JP Morgan and Wells Fargo reported weak earnings and massive reserve builds as they anticipate weak economic conditions in the months …
Australia consumer sentiment suffered record plunge, but overall pandemic experience much less debilitating
<p>Australia Westpac Consumer Sentiment dropped sharply by -17.7% to 75.6 in April. That’s the single biggest monthly decline in the 47 year history of the survey. The index also dived through the trough during 2008-2009 global financial crisis, to the levels only seen during the deep recessions of the early 1990s (64.6) and early 1980s
PBoC cut MLF rate to record low, LPR cut expected later in the month
<p>China’s PBoC cut the interest rate on its one-year medium-term lending facility today, by 20bps to 2.95%. That’s the lowest level on record and is expected to inject CNY 100B into the market. The move should also pave the way for a similar reduction in the benchmark Loan Prime rate later on the 20th, to […]
Fed officials expect unemployment rate to spike to a high level
<p>Richmond Fed President Thomas Barkin said yesterday that unemployment rate could hit double digits. He pointed to the 30 million people working in hospitality, retail, retail and entertainment, which makes up around 20% of total workforce. Shutting down of these industries could lead jobless rate to mid-to-high teens. And, “We&am
Market Morning Briefing: Dollar Index Has Dipped But While Above 98
<p>STOCKS Global equities look bullish in the near-term. But we will be watching closely the crucial resistances coming up on the major indices that can cap the upside and trigger one more leg of downmove. Dow can rise to 24200-24500 and even 25000 in the near-term after which it can reverse lower. DAX and Nikkei […]
GOLD Remains Biased To The Upside
<p>GOLD faces risk of price gain as it retains its upside pressure. On the upside, resistance resides at the 1,740.00 level. Further out, resistance stands at the 1,750.00 level. A break below here will aim at 1,760.00. On the downside, support sits at the 1,710.00 level where a break will turn focus to the 1,700.00 […]