Source: PaxForex Premium Analytics Portal, Technical Insight As stated by the president of the Federal Reserve Bank of San Francisco M. Daly: The U.S. economy still needs support, it still has a long way to go before it reaches target levels; Expects the economy to bounce back strongly in the fall and then slow down; Refuses to answer when she expects rate hikes to begin; "we will need a lot of patience." Doesn't note much pressure on wages at all; We're not going to roll back stimulus in advance; We will...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices closed Tuesday's trading lower, following the shares of companies that will be most affected by the slowdown in economic activity after the pandemic. The Dow Jones Industrial Average index fell 308.05 points (0.94%) to 32423.15 points. Nasdaq 100, H4 Pivot: 13017.00 Analysis: Provided that the index is traded below 13175.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13017.00 Take Profit...
Source: PaxForex Premium Analytics Portal, Technical Insight Canada: January retail sales -1.1% to $54.5 billion vs. -3,4%. Retail sales excluding cars -1.2% vs forecast -2.7%. Core sales (excluding gas station sales and sales of vehicles and parts) -1.4%, the 2nd consecutive decline m/m. February retail sales estimate +4.0%. USD/CAD ignored the report and continues to trade up 0.05% intraday at 1.2490. USD/CAD, 30 min Pivot: 1.2591 Analysis: Provided that the currency pair is traded above 1.2555, follow the recommendations...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed yesterday on the upside amid growing shares of technology companies. Investors continue to monitor the situation on the US government bond market. The yield on ten-year US Treasuries on Monday fell to 1.682% compared with 1.729% on Friday. That gave support to tech company securities, which have been winning in the COVID-19 pandemic but have been under pressure in recent days due to rising government bond yields. The Dow Jones Industrial...
Source: PaxForex Premium Analytics Portal, Technical Insight British Prime Minister Johnson: the impact of the third wave of the coronavirus. Reuters reports comments of the prime minister: It's worth stressing that the third wave of the coronavirus is now underway in Europe; Britain believes that now is not the time to restrict the use of the vaccine, it is important to work together; We expect the EU to continue to meet its obligations under the agreement; We remain confident in the vaccine supply. GBP/USD, 30 min...
