U.S. initial claims for the week ending December 12 were 885,000, a rise of 23,000 from the previous week, and above expected 817,000 according to the Department of Labor press release. The total number of continuing claims for the week ended December 5 was 5.5 million lower than the expected 5.7 million. The previous week's initial claims were revised up by 9,000 from … [Read more...] about U.S. Initial Claims Rise the Highest Since September amid Rising Coronavirus Cases
Top 10 Best Performing Currency Pairs in 2020
What to expect in 2021 from the Forex market The exchange rates in 2021 will be decided by the degree of confidence traders have in the global economy recovering after the pandemic. It is estimated that the USD will depreciate sharply in 2021, by as much as 5%-10% against other major currencies. The effect of the pandemic on Europe and the USA will reduce the … [Read more...] about Top 10 Best Performing Currency Pairs in 2020
PMI: U.S. Private Sector Recovery Loses Momentum, Hits a 3-Month Low
Flash U.S Composite Output Index for December was 55.7, a 3-month low, down from 58.6 in November, according to IHS Markit press release. The loss of private sector momentum was caused by COVID-19 related restrictions and input prices, which rose at the sharpest rate since April 2018. Flash U.S. Services Business Activity Index recorded a 3-month low of 55.3, down from … [Read more...] about PMI: U.S. Private Sector Recovery Loses Momentum, Hits a 3-Month Low
Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
Eurozone’s IHS Markit’s flash composite PMI was 49.8 in December, up from November’s 45.3, and above expected 45.8, reports Reuters. The economic rebound reflects the partial lifting of restrictions in countries like France, although it remained below the 50 mark that separates growth from contraction. The service industry rose to 47.3, up from 41.7 to remain above … [Read more...] about Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
Buy the Rumour, Sell the News in the Forex Market
You might have heard the term “Buy the rumor and sell the news” when conversing with other traders in trading circles or in educational resources focused on investing. It refers to the decision taken by the investor to acquire definite security based solely on rumors. The investor then subsequently sells it when positive news breaks out. It is a phenomenon that is noticed in … [Read more...] about Buy the Rumour, Sell the News in the Forex Market
