Market wrap-up: a wave of profit-taking dominates today's trading
American stock markets fell today, as European stock indices witnessed a significant decline due to fears of a second wave of the Coronavirus pandemic. This potential return to crisis levels of infection could delay the global economic recovery that has been anticipated – or hoped for – in second half of the year.
Mixed Data from Australia & AUD Declines
5 Oct 2017 09:13 AM |During the Asian session today, there were few key economic figures from Australia, which had a notable impact on the markets, especially AUD pairs.
Despite the fact that some of the data were positive, AUD managed to decline across the board, as the long-term data slowed down significantly.
ADP Comes At 135K With No USD Reaction Yet
4 Oct 2017 04:25 PM |The ADP Non-Farm Employment Change data came in with a little surprise in September, adding 135K new jobs, while the estimates were to add around 125K.
Crude Oil Turning Around?
3 Oct 2017 03:24 PM |Until the end of last week, Crude Oil prices had its best four trading weeks since the beginning of this year.
Brent Crude Spiked for four weeks in a row, reaching as high as $59.50, while WTI Crude also posted four weeks on consecutive gains reaching as high as $53.
Yet, both crudes declines sharply since the beginning of this week. Is this a technical retracement? Or a new trend?
Daily wrap up – 2 October
2 Oct 2017 10:54 PM |The beginning of the first week of the last quarter of 2017 was very inflammatory. Catalonia held a referendum on secession from Spain and the approval rate reached 90%, but the Spanish government rejected that referendum and considered it illegal. The European Commission supported that view, calling on all parties to sit at the dialogue table.
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USD Began The Week Higher Ahead of Key Data
2 Oct 2017 01:53 PM |The US Dollar Index began the week sharply higher across the board, despite the notable slowing down in Core PCE Price Index on Friday.
The Core PCE Price Index YoY unexpectedly declined back to 1.3% in August down from 1.4% in July, despite the fact that the estimates were to remain stable at 1.4%. This is the lowest level since November 2015.
The week ahead (2-6 October)
2 Oct 2017 11:18 AM |The US dollar succeeded in stabilizing higher than an important support at the end of the third quarter of 2017, as the dollar index rose from 92.40 after it continued its decline since the end of the first quarter of the year, reaching the lowest level since January 2015 at 90.97.
End of Week, End of Month and End of Quarter
29 Sep 2017 01:58 PM |Today marks the last trading day of this week, last trading day of September and the last trading day of the third quarter of this year.
The last hours of the week, month and quarter will likely provide more choppy trading as positions are adjusted across the board.
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USDX Retracement Continues, For How Long?
28 Sep 2017 02:20 PM |The US Dollar Index continues to rally since the Federal Reserve decision last week, reaching as high as 93.60’s at the end of the US Session yesterday.
However, the rally has stalled since the beginning of the European session today, declining back all the way to 93.30’s ahead of some key economic releases today.
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