One Step Forward After Two Steps Back
One Step Forward After Two Steps Back
Stocks rallied into the close, after initial gains generated by positive global equities were taken back at 14:00 EDT by the release of the Fed’s minutes from the March rate meeting. “The news was that things are getting no better, and that the printing press would remain on until […]
Markets Tread Water After Payroll Report
Markets Tread Water After Payroll Report
Currency and equity markets were basically treading water on Friday after the monthly report on payrolls showed the economy shed an additional 663,000 jobs last month as the unemployment rate rose to 8.5%, the highest in 25 years.
Also, the Institute for Supply Management said its index for the service sector […]
Financial Markets Quiet After a Volatile Week of Trading
Financial Markets Quiet After a Volatile Week of Trading
The dollar is mixed against the majors, with the commodity currencies appreciating on bets inflation will drive prices higher. The EurUsd fell a bit over 80pips through 1.36 to the high 1.35 price area, while the UsdJpy rose 130pips approaching 96 as a level of resistance. The […]