Economy

The gold futures contract lost 0.19% on Thursday, as it extended its short-term consolidation following last week’s Friday’s sell-off of 4.1%. In late November the market has reached new local low below $1,800 price level. Since then it has been retracing the decline. Last week,…

The direction of the March WTI crude oil futures contract on Friday is likely to be determined by trader reaction to the pivot at $53.12. U.S. West Texas Intermediate crude oil futures are inching lower on Friday as concerns about Chinese cities in lockdown due…

On Friday, investors will get fresh looks at major banks as Wells Fargo, Citigroup and JPMorgan Chase report their fourth quarter earnings. The major U.S. stock index futures are edging lower in the pre-market session on Friday as investors digested the details of President-elect Joe…

The British pound has tried to rally against yen again on Thursday, and just like on Wednesday we have seen significant resistance near the ¥142.50 level. The British pound initially tried to rally during the trading session on Thursday but has run into the same…

Chinese tech giants Alibaba and Tencent and Baidu all rose sharply on news that plans to extend a U.S. investment ban to the stocks had been scrapped. The major Asia-Pacific shares finished mixed but mostly higher on Thursday as investors regionally reacted positively to strong…

Italian politics and COVID-19 vaccination rates remain negatives for the EUR. Economic data from the EUR and the U.S will influence market risk appetite later in the day. Earlier in the Day: It’s was a relatively busy start to the day on the economic calendar…

Earnings for S&P 500 companies are expected to have dropped 9.8% year-over-year in the final quarter of 2020, according to IBES data from Refinitiv. The major U.S. stock indexes finished mixed on Wednesday as investors seemed to be distracted by the impeachment hearings in Congress…

Hong Kong shares ended lower on Wednesday, with consumer shares leading the declines, as bargain hunters took a breather. The major Asia-Pacific stock indexes finished mixed on Wednesday as investors continued to monitor developments on the coronavirus front as the region tries to prevent an…

Meanwhile, Inflation Rate and Core Inflation Rate reports show that inflation remains under control. The Market Needs More Catalysts To Move Higher S&P 500 futures are moving lower in premarket trading as traders wait for additional upside catalysts. Today, the U.S. House of Representatives will…

The early price action indicates the direction of the NZD/USD on Wednesday will be determined by trader reaction to .7232. The New Zealand Dollar is trading lower on Wednesday after giving up earlier gains. The price action is being driven by volatility in the U.S.…