Source: PaxForex Premium Analytics Portal, Technical Insight According to Reuters, Thomas Barkin, head of the Federal Reserve Bank of Richmond, said Thursday that mass vaccination against the coronavirus is unlikely to happen before this summer. "The results of the congressional races will likely allow more support for the least fortunate applicants, but still hold back more ambitious programs. There are still deflationary forces restraining prices. The second half of 2021 is expected to be robust in terms of business and...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. economy added 245,000 jobs in December 2020, below analysts' consensus forecasts. The unemployment rate remained unchanged at 6.7%. Overall, the data came out a bit worse than forecasted, the numbers are seen as positive. In any case, the U.S. economy requires additional stimulus from the regulator, which was accepted at the last meetings of the Fed. Non-Farm Payrolls Employment Last data: 245К Consensus Forecast: 100K Non-Farm Payrolls (...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold futures prices declined during Asian trading on Thursday. On COMEX, a division of the New York Mercantile Exchange, gold futures for delivery in February are trading at $1.918.95 per troy ounce, down 0.54% at the time of writing this commentary. GOLD/USD, 30 min Pivot: 1920.00 Analysis: Provided that the price is above 1908.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1920.00 Take Profit 1: 1934.00...
Source: PaxForex Premium Analytics Portal, Technical Insight Cleveland Fed President Loretta Mester said Tuesday that she expects the U.S. economy to be weak in the first few months of 2021, Reuters reported. "If vaccination is triggered, strong growth is expected in the second half of 2021. I don't expect to see any further progress toward the Fed's goals this year. We need a more accommodative policy than we have had in the past to raise inflation to the Fed's 2% target. AUD/USD, 30 min Pivot: 0.7785...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed Tuesday's trading on the rise as the market was watching the key election in Georgia which will determine whether Republicans retain the majority in the Senate. The market is under pressure from the continued high incidence of COVID-19, with more than 196,000 new cases and more than 2,000 deaths in the U.S. on Monday. At the same time, a new variety of coronavirus, which forced the UK authorities to introduce a new lockdown, was also...
