Will US Retail Sales Drive EURO to Fresh 16 Month Lows?
Euro dropped to its weakest level since June 2020 because the European Central Bank is one of the most dovish central banks.
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Euro dropped to its weakest level since June 2020 because the European Central Bank is one of the most dovish central banks.
AMC, one of the great meme stock stories of the year remains relatively close to its mania highs but forward progress has come to a grinding halt and the longer that dynamic lasts the more likely the stock is to fall.
Oil continues to hover near multi year highs with yesterday’s surprise inventory draw numbers only adding to the bullish posture of the market. Although the Biden administration has made several attempts to jawbone the price of oil lower, first by appealing to OPEC to increase production and them hinting that it may release some stockpiles from the SPR reserve most analysts believe that crude and the whole hydrocarbon complex will at very minimum remain steadily bid for the foreseeable future.
The simultaneous decline in currencies and Treasury yields confirms our view that investors are growing concerned ab
The U.S. dollar traded lower against all of the major currencies on Monday despite a good jobs report and a rise in Treasury yields.
Tesla’s shares are down more than -7% in early European trade today after Elon Musk polled his followers on Twitter if he should sell 10% of his stock. The typical Musk theatrics aside, the key question going forward for investors is whether Tesla stock may have peaked for the near term, setting it up for a nasty correction. The answer may be yes.
Once the dust settled, the dollar ended the day virtually unchanged (slightly lower) from its pre-FOMC levels against other the major currencies. Stocks and bond yields ended higher which should benefit the Yen crosses.
A precise end date for QE will be positive for the dollar, although it could also be calculated by the amount of bond purchases cut per month.
EUR/USD logged its best day in 5 months as US GDP overshadowed the European Central Bank’s monetary policy announcement.
Buckle your seatbelts because the next 24 hours will be a busy one for the foreign exchange market.
Over the past month, USD/CAD has fallen 4.5% as the Canadian dollar soared against the greenback. There have been a string of positive economic reports including the unemployment rate which dropped to its lowest level in 18 months
Three central bank monetary policy announcements, inflation and GDP reports from the U.S. and Eurozone makes for a busy trading week