The US dollar is stalling against many of its G10 currency rivals on Thursday after a strong and better-than-expected June jobs report. The stellar labor reading sparked a rally in the stock market, raising the risk tolerance of traders in equities. After the last couple of weeks of investors being spooked by a resurgence in … “US Dollar Stalls As Economy Creates 4.8 Million Jobs in June, Factory Orders Surge”
Non-Farm Payrolls Cheat Sheet: Three stages of market reaction
Headline Non-Farm Payrolls are set to determine the initial knee-jerk reaction. The political impact of the Unemployment Rate is set to shape the second move ahead of the long weekend. Core unemployment has room to impact stocks when the dust settles. Coronavirus is upending everything – not only the labor market but also the Non-Farm … “Non-Farm Payrolls Cheat Sheet: Three stages of market reaction”
Bulls on GBP/CAD Trying Their Best from 1.6800
The Great Britain pound versus the Canadian dollar currency pair seems not to be willing to go beneath 1.6724. Can the bulls put the double bottom formation to their use? Long-term perspective The depreciation that started after the third unsuccessful bullish attempt to go beyond the firm 1.7567 resistance level back in May extended a hair away from the solid support of 1.6724. To be more exact, the 1.6800 psychological level — not … “Bulls on GBP/CAD Trying Their Best from 1.6800”
ADP Analysis: Low-hanging fruit bounce, not a recovery, S&P 500 rally seems unsustainable
ADP reported an increase of 2.369 million private-sector jobs in June, below expectations. Even after the whopping upward revision for May, job losses are devastating. After staging the best quarter since 1998, another S&P seems unreasonable. When an increase of over two million jobs – and an upward revision worth nearly six million – are … “ADP Analysis: Low-hanging fruit bounce, not a recovery, S&P 500 rally seems unsustainable”
US Elections: Three reasons why Biden’s lead over Trump is far greater than Clinton’s in 2016
There are fewer undecideds in 2020, making Biden’s lead more solid. Biden is leading by around 9% while Clinton maxed out at 7%, only after the convention. The electoral college – which Trump while losing the popular vote – is more aligned with the national map. Fox News’ polls point to a landslide loss for … “US Elections: Three reasons why Biden’s lead over Trump is far greater than Clinton’s in 2016”
The Smart Traders’ Bootcamp
Stockholm June 22, 2020 This is a game-changer! Scandinavian Capital Markets and Round the Clock Trader are to organise an exclusive online event – The Smart Traders Bootcamp marking the launch of Scand.Ex (Scandinavian Exchange) – a learning portal made by professional traders for traders. World-leading experts in trading strategies, psychology and market analysis come … “The Smart Traders’ Bootcamp”
GBP/USD: Ugly coronavirus contest between UK and US focus of next moves
GBP/USD has suffered from insufficient BOE support and coronavirus concerns. Preliminary UK PMIs, US investment and consumption figures, and coronavirus developments are eyed. Mid-June’s daily chart is showing bears are gaining some ground. The FX Poll shows experts are bearish in the short and medium terms. Bailey has bailed out – the insufficient central bank support … “GBP/USD: Ugly coronavirus contest between UK and US focus of next moves”
Hong Kong Dollar Peg: How vulnerable is it and if it breaks, how will it happen? Explained
China’s new security law and the slow Sino-American decoupling risk Hong Kong dollar peg. Hong Kong is the world’s No. 3 financial center and a break of the 36-year peg could cause jitters. The unpegging, if it happens, may occur while the world is distracted. The Swiss National Bank vowed to uphold the EUR/CHF peg – … “Hong Kong Dollar Peg: How vulnerable is it and if it breaks, how will it happen? Explained”
BOE Preview: Bailey may boost pound by going big on bond-buying, beware negative rates
The Bank of England is expected to boost its bond-buying scheme and leave rates unchanged. More money-printing is pound-positive, contrary to pre-pandemic logic. The specter of negative rates may limit sterling gains. Debt monetization is creeping in – but it is turning positive for underlying currencies. The euro benefited from a larger-than-expected increase in the … “BOE Preview: Bailey may boost pound by going big on bond-buying, beware negative rates”
New Zealand GDP Preview: Room for a positive surprise, NZD/USD may advance, pending market mood
New Zealand is expected to report a drop of 1% first-quarter economic output. Upbeat Australian figures imply a better outcome. NZD/USD has room to rise, but the reaction also depends on the market movement. New Zealand has been a success story in combating coronavirus – passing 24 days without new cases until two popped up … “New Zealand GDP Preview: Room for a positive surprise, NZD/USD may advance, pending market mood”