Tag: usd

Goldman Forecasts Lower Stock Prices Ahead

A continued surge in corporate earnings will have only limited benefit for stock prices, which face multiple policy obstacles, according to Goldman Sachs. In fact, the bank’s strategists have raised their S&P 500 profits expectations through 2020, but do not expect the improved climate to have a meaningful impact on equity returns. “The US economy […]

US Leading Economic Index Rose 0.4% in May

The Conference Board’s Leading Economic Index increased 0.2 percent in May, short of economists’ expectations. The index was expected increase 0.4 percent in May, according to economists polled by Reuters. May’s increase marks the seventh month of gains, after jumping 0.4 percent to 109.4 in April. “While May’s increase in the U.S. LEI was slower […]

Gold steadies as trade tensions ease

Gold is almost unchanged in the Thursday session, following four consecutive days of losses. In North American trade, the spot price for one ounce of gold is $1268.14, down 0.01% on the day. On the release front, major U.S indicators were a mixed bag. The Philly Fed Manufacturing Index slid to 19.9 points, its lowest level […]

GBP/USD – British pound gains ground on hawkish BoE stance

The British pound is almost unchanged in the Thursday session. In North American trade, GBP/USD is trading at 1.3253, up 0.62% on the day. On the release front, Britain’s budget deficit narrowed to GBP 3.4 billion, well below the estimate of GBP 5.1 billion. The Bank of England maintained the benchmark rate at 0.50%, but […]

GBP rallies on hawkish BoE

Risk aversion remains on trade fears We’re continuing to see risk aversion in the markets on Thursday, as the trade spats between the US and others ramp up. The week started with the US and China announcing tariffs against one another which will come into effect on 6 July, and it will end with the […]

USD/CAD – Canadian dollar steady ahead of U.S, Canadian employment data

The Canadian dollar is showing little movement in the Thursday session. Currently, USD/CAD is trading at 1.3319, up 0.06% on the day. On the release front, there are employment releases on both sides of the border. Canada will publish ADP Nonfarm Employment Change and Wholesale Sales. In the U.S, Philly Fed Manufacturing Index is forecast to […]

Oil falls -2% as OPEC nears deal to raise production

Thursday June 21: Five things the markets are talking about Currently, there are many moving parts that are keeping capital market players on their toes. President Trump and Chancellor Merkel continue to deal with immigration policy worries, while trade and tariffs tops most central bankers and other leaders’ agendas. Overnight, the U.S dollar remains better […]

EUR/USD – Stumbling euro falls to 11-month low, U.S jobless claims next

EUR/USD has posted losses in the Thursday session. Currently, the pair is trading at 1.1521, down 0.46% on the day. On the release front, the sole eurozone indicator is consumer confidence, which is expected to remain pegged at zero points for a fifth straight month. In the U.S, there are two key indicators. The Philly Fed […]

Iran Could Reach OPEC Oil Output Compromise

Iran signaled on Wednesday it could compromise on a small increase in OPEC oil output when the group meets this week, as Saudi Arabia scrambled to convince fellow members of the need for a larger rise in production. The Organization of the Petroleum Exporting Countries meets on Friday to decide output policy amid calls from […]

Will the BoE lay the groundwork for August hike?

Was recent data enough to ease concerns about first quarter downturn? The Bank of England meeting on Thursday should be another interesting affair following a week in which two other major central banks – the Federal Reserve and ECB – have announced new tightening measures. No rate hike expected this month Markets still not convinced […]