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    A quiet start to the third quarter ahead of key data releases

    A quiet start to the third quarter ahead of key data releases

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FX Access
  • Home
  • Forex
    A quiet start to the third quarter ahead of key data releases

    A quiet start to the third quarter ahead of key data releases

    Forex Today: Calm ahead of the ECB storm

    Forex reserves still ample

    Forex Today: Calm ahead of the ECB storm

    Forex Today: Calm ahead of the ECB storm

    Japanese Yen Fundamental Forecast: Prices Approach 1998 Levels Ahead of BOJ

    Japanese Yen Fundamental Forecast: Prices Approach 1998 Levels Ahead of BOJ

    Forex Today: Economic uncertainty spurs volatility

    Forex Today: Economic uncertainty spurs volatility

    Russia Considers Allowing Crypto for International Payments (Report)

    Russia Considers Allowing Crypto for International Payments (Report)

    Australian Dollar Outlook: AU-US Yield Spreads the Driver, Will it Steer AUD/USD Up?

    Australian Dollar Outlook: AU-US Yield Spreads the Driver, Will it Steer AUD/USD Up?

    US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

    US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

    Euro Q4 Fundamental Forecast: More Euro Weakness Likely Lies Ahead

    Euro Q4 Fundamental Forecast: More Euro Weakness Likely Lies Ahead

  • Education
    AUD/USD Rises Despite Wall Street Selloff as Chinese Flooding Lifts Coal Prices

    AUD/USD Rises Despite Wall Street Selloff as Chinese Flooding Lifts Coal Prices

    Euro Forecast: EUR/USD Outlook Bleak as Traders Rush for US Dollars

    Euro Forecast: EUR/USD Outlook Bleak as Traders Rush for US Dollars

    RAND UPDATE: ZAR STRENGTH MAY BE SHORT LIVED AHEAD OF BUDGET SPEECH

    RAND UPDATE: ZAR STRENGTH MAY BE SHORT LIVED AHEAD OF BUDGET SPEECH

    CRUDE OIL PRICES MAY RISE ON US STIMULUS HOPES

    CRUDE OIL PRICES MAY RISE ON US STIMULUS HOPES

    IG CLIENT SENTIMENT DATA SENDING BEARISH SIGNALS FOR USD/ JPY, AUD/USD, GBP/ USD

    IG CLIENT SENTIMENT DATA SENDING BEARISH SIGNALS FOR USD/ JPY, AUD/USD, GBP/ USD

    EUR/AUD BREAKOUT COULD GROW LEGS

    EUR/AUD BREAKOUT COULD GROW LEGS

    CHINESE YUAN (CNH) DRIVING CURRENCY MARKETS; HOWEVER, TRUMP RISK REMAINS

    CHINESE YUAN (CNH) DRIVING CURRENCY MARKETS; HOWEVER, TRUMP RISK REMAINS

    GOLD PRICE REBOUND UNRAVELS AS TRUMP SEEKS POST-ELECTION STIMULUS BILL

    GOLD PRICE REBOUND UNRAVELS AS TRUMP SEEKS POST-ELECTION STIMULUS BILL

    JAPANESE YEN FORECAST: MOMENTUM PUSHING JPYCROSSES HIGHERLEVELS FOR EUR/ JPY, GBP/JPY, USD/ JPY

    JAPANESE YEN FORECAST: MOMENTUM PUSHING JPYCROSSES HIGHERLEVELS FOR EUR/ JPY, GBP/JPY, USD/ JPY

  • Commodities
    CME looks to lure retail traders with daily options frowned on in Europe

    CME looks to lure retail traders with daily options frowned on in Europe

    The traders earning $6m+ outside banks and hedge funds

    The traders earning $6m+ outside banks and hedge funds

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

    Palladium: Completely Reverse The Rumors for a Bubble Burst

    Palladium: Completely Reverse The Rumors for a Bubble Burst

    Energy Recap: OPEC Leaves Traders Guessing, Setting Up Volatile Move on Friday

    Energy Recap: OPEC Leaves Traders Guessing, Setting Up Volatile Move on Friday

    WTI Crude Spikes into Close Following Bullish Bloomberg Report on OPEC Production Cut Expectations

    WTI Crude Spikes into Close Following Bullish Bloomberg Report on OPEC Production Cut Expectations

    US Open – Waking From a Stimulus Induced Dream – Oil, Gold and BTC in Focus

    US Open – Waking From a Stimulus Induced Dream – Oil, Gold and BTC in Focus

    Shell Impairments Support Bearish Market

    Shell Impairments Support Bearish Market

  • Cryptocurrencies
    How ETF investors can bet on the crypto crash

    How ETF investors can bet on the crypto crash

    ‘Like Coming Off Heroin’: How Bad Will This Bitcoin Bear Market Get?

    ‘Like Coming Off Heroin’: How Bad Will This Bitcoin Bear Market Get?

    SBF and Alameda step in to prevent crypto collapse contagion

    SBF and Alameda step in to prevent crypto collapse contagion

    Why the crypto market crash may play in Bitcoin’s favour

    Why the crypto market crash may play in Bitcoin’s favour

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

    Indonesian Exchange Pintu Raises $113M to Be ‘Coinbase of Southeast Asia’

    Indonesian Exchange Pintu Raises $113M to Be ‘Coinbase of Southeast Asia’

    Forex Today: Risk-on flows weighed on the dollar

    Forex Today: Risk-on flows weighed on the dollar

    Binance’s Bahrain License Upgraded for More Crypto Services

    Binance’s Bahrain License Upgraded for More Crypto Services

    The Crypto Daily – Movers and Shakers

    The Crypto Daily – Movers and Shakers

FX Access
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US Stocks Sink as Tech Stocks Extend Recent Decline

The S&P 500 Financials Index fell 1.4%, a day after the Federal Reserve pledged to keep interest rates low for a prolonged period.

poweradmin by poweradmin
September 21, 2020
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The major U.S. stock indexes were down sharply again on Thursday as technology-related shares extended a recent decline and as data showed high levels of weekly jobless claims. Tech-heavyweights Apple Inc and Amazon.com were the biggest drags on the S&P 500 and NASDAQ Composite, which entered correction territory earlier this month.

In the cash market, the benchmark S&P 500 Index settled at 3357.01, down 28.48 or -0.84%. The blue chip Dow Jones Industrial Average finished at 27901.98, down 130.40 or -0.47% and the tech-weighted NASDAQ Composite closed at 10910.28, down 140.19 or -1.25%.

US Economic News

The number of Americans filing new claims for unemployment benefits fell less than expected last week and applications for the prior period were revised up, suggesting the labor market recovery had shifted into low gear amid fading fiscal stimulus.

But jobless claims remained elevated at 860,000, while both housing starts and the Philadelphia Fed business index fell and trading marked a risk-off sentiment.

The Philly Fed came in at 15, matching the forecast, but coming in below the previously reported 17.2. U

Weekly Unemployment Claims were reported at 860K, higher than the 825K estimate, but lower than last week’s upwardly revised 893K.

Building Permits were 1.47 million units, lower than the 1.51m forecast and previously reported 1.48m.

Housing Starts showed a 1.42 million unit increase, missing the 1.47m forecast and 1.49m previous number.

Continued Reaction to Fedc
The S&P 500 Financials Index fell 1.4%, a day after the Federal Reserve pledged to keep interest rates low for a prolonged period to lift the world’s biggest economy out of a pandemic-induced recession. Banks tend to benefit from higher borrowing costs.

Fed Chair Jerome Powell laid out a menu of factors – including wage growth, workforce participation and disparities in minority joblessness relative to whites – that must be satisfied before the Fed would view the economy at maximum employment, and thus even consider raising interest rates.

Stocks in the News

General Electric Co rose 3.7% after Chief Executive Officer Larry Culp said on Wednesday the company’s free cash flow would turn positive in the second half.

Ford Motor Co added 3.3% as it said it had begun production of the new generation F-150 pickup truck at its Michigan facility.

The Internals

Declining issues outnumbered advancing ones on the NYSE by a 1.86-to-1 ratio; on NASDAQ, a 1.50-to-1 ratio favored decliners.

The S&P 500 posted 7 new 52-week highs and no new lows; the NASDAQ Composite recorded 36 new highs and 16 new lows, according to Reuters.

poweradmin

poweradmin

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