Forex signals news and analysis, fundamental stock market breakdown including geopolitical analysis and in depth discussion. Up to date live news feed from around the world, stock market specific.
Fully Regulated Australian Specialist Broker
Wednesday, 23 September 2020
Market Outlook Ahead of the First Biden-Trump Presidential Debate
Dollar Extends Uptick
The U.S. dollar extended recent gains on Tuesday, hitting multi-week highs against Swiss franc and the Euro, as risk appetite waned further.
Comments by Chicago Federal Reserve President Charles Evans that any additional quantitative easing from the Fed is unlikely to result in any quick recovery of the economy.
Speaking before the House Financial Services Committee this morning, the Federal Reserve Chairman Jerome Powell said the path forward "will depend on keeping the virus under control, and on policy actions taken at all levels of government."
He said both employment and overall economic activity remain well below their pre-pandemic levels and the path ahead continues to remain highly uncertain.
U.S. Treasury Secretary Steven Mnuchin said the White House continues to seek an agreement with both parties in Congress on another fiscal relief package.
The dollar index rose to 94.08, and was last seen at 93.96, up 0.32% from previous close.
Against the Euro, the dollar firmed up to $1.1710, gaining more than 0.5%. Preliminary data from the European Commission showed Eurozone consumer confidence improved more-than-expected in September to its highest level in six months.
The flash consumer confidence index climbed to -13.9 from -14.7 in August. Economists had expected a score of -14.6. The latest reading was the highest since March, when it was at -11.6.
The Pound Sterling was weaker by over 0.6% fetching $1.2734.
The Yen eased to 104.96 a dollar, giving up about 0.3% from Monday's close.
The Aussie was weaker at US$0.7170, about 0.75% lower than previous closing level.
The Swiss franc drifted down nearly 0.6% with a unit of greenback fetching CHF0.9198, and the Loonie was hovering at C$1.3300, not much changed from Monday's close.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2164232/
Dow Jones Rebounds, DAX Consolidates, Hang Seng May Form "AB=CD"
Gold Price Trades Below 50-Day SMA for First Time Since June
Crude Oil Futures Settle Modestly Higher
Crude oil futures ended higher on Tuesday, rebounding from recent sharp fall, although the uptick was not any significantly sharp as worries about outlook for energy demand continued to weigh on the commodity's prices.
With new cases of coronavirus infection surging higher in several parts of Europe, India and in many states in the U.S., it is feared energy demand will see a drop in the near term.
Fresh restrictions are being imposed in the U.K. and Spain to curb coronavirus surge. Experts warn the U.S. could experience another outbreak cycle.
West Texas Intermediate Crude oil futures for November ended higher by $0.26 or about 0.7% at $39.80 a barrel. The WTI futures contract had tumbled more than 4% on Monday.
Brent crude futures were advancing $0.19 or 0.46% at $41.63 around late afternoon.
WTI crude futures moved past $40 a barrel mark earlier in the session, but retreated from that level.
The American Petroleum Institute is due to release its weekly crude inventory data for last week, later today. It is expected to show a drop of about 2.5 million barrels in stockpiles.
The Energy Information Administration's inventory data is due out at 10.30 am ET on Wednesday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2164231/
Gold Futures Edge Lower, Settle At 2-month Low
Gold prices edged lower on Tuesday, posting losses for a second straight session, as the dollar continued to exhibit strength amid worries about a continued surge in coronavirus cases.
With some countries in Europe, including the U.K. and France announcing fresh lockdown measures to curb the spread of Covid-19, there is growing uncertainty about the pace of economic recovery.
The continued impasse over a new coronavirus relief package in the U.S. too weigh on investor sentiment.
Investors were also digesting speeches from Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin today.
The dollar index started off on a weak note this morning, but gained in strength as the session progressed to hit a high of 94.08. It was last seen hovering around 93.95, up more than 0.3% from previous close.
Gold futures for December ended down $3.00 or about 0.2% at $1,907.60 an ounce, their lowest close in about two months.
Silver futures for December closed higher by $0.136 at $24.523 an ounce, while Copper futures for December settled at $3.0610 per pound, gaining $0.0290 for the session.
Speaking before the House Financial Services Committee this morning, Fed Chair Powell said the path forward "will depend on keeping the virus under control, and on policy actions taken at all levels of government."
He said both employment and overall economic activity remain well below their pre-pandemic levels and the path ahead continues to remain highly uncertain.
Steven Mnuchin said the White House continues to seek an agreement with both parties in Congress on another fiscal relief package.
Existing home sales in the U.S. climbed to their highest level in nearly fourteen years in the month of August, according to a report released by the National Association of Realtors on Tuesday.
NAR said existing home sales jumped 2.4% to an annual rate of 6.000 million in August after skyrocketing by 24.7% to a rate of 5.860 million in July. The continued increase in sales matched economist estimates.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2164230/
Tuesday, 22 September 2020
*RBA's Debelle: Board Continues To Assess Other Policy Options
RBA's Debelle: Board Continues To Assess Other Policy Options
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2164191/