Source: Reuters The United States prevented the Russian government on Monday from making payments of its sovereign debt of over $600 million from reserves held at US banks. RUBUSD down -0.86% The move seeks to intensify pressure on Moscow and eat into its holdings of dollars.Under sanctions imposed after Russia’s invasion of Ukraine on February 24, foreign currency … [Read more...] about US Treasury Blocks Russian Debt Payments, Raising Concerns of Default
Supporting the Resistance: Key Levels in Forex
Whether consciously or not, every technical analyst incorporates some form of support and resistance. This concept is the bread-and-butter of trading in any financial market. Any newbie can observe a chart and realize that price constantly bounces around similar levels over time. Ultimately, you want to buy as low as possible or sell as high as possible. However, don’t be … [Read more...] about Supporting the Resistance: Key Levels in Forex
Fed’s Rate Tightening to Bring About ‘Very Volatile Markets,’ Jamie Dimon Says
Source: FT The tightening of monetary policy in the United States could bring about “very volatile markets,” according to JPMorgan Chief Executive Jamie Dimon. QQQ is up 1.69% Dimon in a letter to investors said he did not envy the Federal Reserve given the measures it would have to take, as inflation continues to mark historic highs.Dimon believes that measures that the … [Read more...] about Fed’s Rate Tightening to Bring About ‘Very Volatile Markets,’ Jamie Dimon Says
US Manufactured Goods Orders Fall in February After 9 Straight Months of Increases
Source: Census Bureau US new orders for manufactured goods fell by 0.5% or $2.7 billion to $542.0 billion in February, the first decline after nine straight months of increases. SPY is up +0.50%, DXY is up +0.27%. The new orders for manufactured durable goods declined by 2.1% or $5.8 billion to $271.7 billion accelerating a four straight month of decreases. Shipments … [Read more...] about US Manufactured Goods Orders Fall in February After 9 Straight Months of Increases
Eurozone Recession Seen as Economy Falls to 21-Month Low in April
Source: Sentix The eurozone economic indicator contracted for the second straight month in April, to fall to its lowest level in nearly two years. EZU is down 0.29%, while VGK is flat premarket. The overall Sentix index dropped 11 points to -18, following the -7.0 in March. This is the lowest since July 2020.Economists are expected to report the start of the second … [Read more...] about Eurozone Recession Seen as Economy Falls to 21-Month Low in April
