US stocks set for a slight dip at the open
6 Aug 2020
No real jitters ahead of non-farm payrolls
Today is all about positioning ahead of non-farm payrolls but it's been tough to argue that a weak jobs number has been negative for stocks in the pandemic anyway. All news is good news for stocks.
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Today is all about positioning ahead of non-farm payrolls but it's been tough to argue that a weak jobs number has been negative for stocks in the pandemic anyway. All news is good news for stocks.
EURUSD failed on earlier move to n butew highs today
6 Aug 2020
Run above the 1.1908 level fails
The price over the last 6 hourly bars has been shopping between a low of 1.18308 and a high of 1.18697. We currently trade between those levels at 1.1853.
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The price over the last 6 hourly bars has been shopping between a low of 1.18308 and a high of 1.18697. We currently trade between those levels at 1.1853.
US weekly initial jobless claims 1186K vs 1400K expected
6 Aug 2020
Weekly jobless claims data
Better numbers on initial jobless claims but it's still daunting how they've remained so high.
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Better numbers on initial jobless claims but it's still daunting how they've remained so high.
Audio recap: BOE a little more upbeat, US jobs data ahead
6 Aug 2020
What to watch for today
The Bank of England
was out earlier leaving rates on hold while maintaining its policy stance and
QE program as per expectation. However, the Pound did get a little bit of a
boost from the central bank's more upbeat communication with respect to recent
economic data and the overall recovery.
Read more
The Bank of England
was out earlier leaving rates on hold while maintaining its policy stance and
QE program as per expectation. However, the Pound did get a little bit of a
boost from the central bank's more upbeat communication with respect to recent
economic data and the overall recovery.
The GBP is the strongest and the CAD is the weakest as NA traders enter for the day
6 Aug 2020
BOE keeps rates unchanged. GBP keeps gains (so far)
The GBP is the strongest and the CAD is the weakest. BOEs Bailey said that the central bank was not prepared to go negative but painted a cautionary tone on the economy. The USD is trading mixed with gains vs the EUR, CAD, AUD and NZD and
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The GBP is the strongest and the CAD is the weakest. BOEs Bailey said that the central bank was not prepared to go negative but painted a cautionary tone on the economy. The USD is trading mixed with gains vs the EUR, CAD, AUD and NZD and
BOE's Bailey: There is an awful lot of risk to the downside in our forecasts
6 Aug 2020
BOE governor, Andrew Bailey, speaks in a TV interview
- UK has 'a lot of yards' to make in recovery
- BOE ready to support the economic recovery
This reaffirms his message earlier in the day alongside his warning that one shouldn't be deceived by the rebound in the UK economy so far.
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- UK has 'a lot of yards' to make in recovery
- BOE ready to support the economic recovery
This reaffirms his message earlier in the day alongside his warning that one shouldn't be deceived by the rebound in the UK economy so far.
ForexLive European FX news wrap: Pound gains post-BOE, risk mood more cautious
6 Aug 2020
Forex news from the European trading session - 6 August 2020
Headlines:
Markets:
- GBP leads, CAD lags on the day
- European equities lower; E-minis down 0.2%
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Headlines:
Markets:
- GBP leads, CAD lags on the day
- European equities lower; E-minis down 0.2%
US July Challenger layoffs 263k vs 170k prior
6 Aug 2020
Latest data released by Challenger, Gray, and Christmas Inc
- 170k
US-based employers announced another 262,649 job cuts in July and this does provide some indication that perhaps the labour market recovery is losing some steam as demand conditions continue to suffer across the country.
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- 170k
US-based employers announced another 262,649 job cuts in July and this does provide some indication that perhaps the labour market recovery is losing some steam as demand conditions continue to suffer across the country.
Stocks nudge lower ahead of North American trading
6 Aug 2020
European equities and US futures fall to session lows
European indices are extending declines with the DAX now down by over 0.8%. Meanwhile, US futures are down by ~0.3% as well and are off levels earlier in the session.
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European indices are extending declines with the DAX now down by over 0.8%. Meanwhile, US futures are down by ~0.3% as well and are off levels earlier in the session.
EUR/USD to rise to 1.20 by year-end - UBS Wealth Management
6 Aug 2020
The firm revises their euro forecast from 1.17 to 1.20
On the revision, they argue that the dollar is likely to decline further on the back of uncertanties surrounding the US' fiscal stance.
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On the revision, they argue that the dollar is likely to decline further on the back of uncertanties surrounding the US' fiscal stance.