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Forex

US Jobs Numbers as Bad as Feared

Non-farm payrolls fell by a record 20.5 million in April Unemployment rate jumped to 14.7% but still understated joblessness Another 7 million Americans have filed for unemployment insurance since this survey This morning’s US employment numbers confirm what we already knew: April was a
Forex

Canadian Employment Fell off the Charts in April

Unprecedented 2 million drop in employment in April – 3 million since February. Unemployment rate spiked to 13.0% despite large number of people not looking for work Early green shoots suggest April close to downturn low It is perhaps a mark of the unprecedented economic shock under way that a 2 million drop in employment […]
Forex

Fed Kashkari: Recovery looks like it’s going to be slow

Minneapolis Fed President Neel Kashkari told NBC today that tomorrow’s NFP report might show unemployment rate surging to 17%. But the actual rate might be even higher at 23%. Also, “that bad report tomorrow is actually going to understate how bad the damage has been.” He emphasized that “the Federal Reserve is acting aggressively, we […]
Forex

EURJPY Rebounds on 3½-Year Low; Bearish Structure Holds

EURJPY has rebounded from the three-and-a-half-year low of 114.40 over the last session, heading higher towards the 20-period simple moving average (SMA) in the 4-hour chart. According to the technical indicators, the RSI is turning higher from the oversold zone, suggesting the end of the bearish action, while the stochastic is heading towards the overbought […]
Forex

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 132.21; (P) 132.70; (R1) 132.94; More… GBP/JPY’s break of 131.90 support suggests that corrective rebound from 123.94 has completed. Intraday bias is turned back to the downside for retesting 123.94 low. On the upside, above 133.17 minor resistance will turn intraday bias neutral first. But after all, upside should be limited by […]
Forex

EUR/USD: Bearish Pattern Of Lower Highs

Official data showed that the Eurozone’s Retail Sales declined 11.2% on month in March, worse than a decrease of 10.6% expected. And Germany’s Factory Orders sank 15.6% (-10.0% expected). In view of the impact of the coronavirus pandemic, the European Commission said the eurozone’s GDP would drop 7.7% in 2020. – advertisement – The euro […]
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