The EUR/USD is trading in a downtrend on Monday. Uncertainty in France following Sunday’s parliamentary runoff election has put some selling pressure on the Euro (EUR). Also, later in the session, the Eurozone Sentix Investor Confidence for July will be released. According to The Economist, exit polls indicated that the left-leaning New Popular Front (NFP), […]
Bulls and Bears in Trading: Why Are They Called So?
Bears and bulls are terms commonly used in the stock market to describe investors who have a positive or negative perspective toward the market. These terms refer to the way investors look at the market. Correctly identifying trends within these categories can determine the success or failure of trades. Hence, it is important to correctly […]
Private payroll growth moderates: 150,000 in June
U.S. private payroll growth moderated during the month of June, according to an ADP report released Wednesday, which appears to be a sign of a possible slowdown in the U.S. labor market. Businesses added 150,000 jobs during the month of June, down from an upwardly revised 157,000 in May and below the Dow Jones consensus […]
Bitcoin Price Today: Drops to $60,000 on Fears of Mt Gox Dumping
The price of bitcoin fell on Wednesday, adding to losses seen earlier in the week as traders continued their aversion to the token on concerns that the defunct Mt Gox exchange will generate a massive sell-off in the token. Sentiment towards the broader cryptocurrency markets continues to be gloomy amid an uncertain outlook for U.S. […]
U.S. stock prices rise on Fed outlook and jobs data
U.S. stock index futures rose on Wednesday on volumes affected by the holiday and helped by dovish comments made by Federal Reserve Chairman Jerome Powell. Wall Street’s major indexes had a quiet and subdued day on Wednesday due to Thursday’s Independence Day holiday, coming off significant gains on Tuesday after Powell indicated some progress on […]
Dollar Loses Ground After Powell Speech; Euro Gains Ground Ahead of French Vote
The U.S. dollar lost ground in early trading in the European session on Wednesday after Federal Reserve Chairman Jerome Powell indicated progress in lowering inflation, while the euro rose ahead of the second round of early parliamentary elections in France. Dollar falls after Powell’s negative comments The dollar lost ground after comments made Tuesday by […]
Daily Technical Analysis EUR/USD: Potential Break Below Key Level
The EUR/USD remained above the 1.0700 barrier throughout Tuesday. There were no surprises from either Lagarde or Powell for the markets. The focus will be on US data and the FOMC Minutes on Wednesday. Additionally, the ISM Services PMI survey will be released on Wednesday, which could also influence the market. It should be remembered […]
Fed has made “significant progress” in bringing inflation down: Powell
Federal Reserve Chairman Jerome Powell has predicted that inflation in the United States could return to the central bank’s 2% target by the end of 2025 or the following year, although he has indicated that policymakers “will take their time” before implementing possible interest rate cuts. Powell, who was speaking at a panel discussion held […]
U.S. stocks pull back; Powell to address the Fed
U.S. stocks declined on Tuesday, losing ground from record levels ahead of a speech by Federal Reserve Chairman Jerome Powell. Wall Street’s major indices closed Monday’s trading day higher, with the S&P 500 gaining 0.3% and the Dow Jones Industrial Average rising 0.1%, while the NASDAQ Composite rose 0.8% to close at record levels, supported […]
Dollar rises on Trump expectations; euro falls in light of inflation data
The U.S. dollar was moving in early European trading on Tuesday, showing signs of recovering from recent losses, while the euro was losing ground ahead of the release of key inflation data. Dollar gets Trump’s backing; Powell ready to speak out The dollar index has risen as estimates of a second Donald Trump presidency have […]