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Trump says he thinks there will be 'surprises' on vaccines

Trump comments on jobs - Don't know why some governors continue to lockdown - Economic strength helped country get through pandemic For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

A little short term technical weakness in the AUDUSD

Below the swing area, trend line and a swing area put a little doubt in the bull for the AUDUSD The strong US job reports led to a temporary spike higher in the AUDUSD, but the pair stalled short of the European morning high at 0.70122 and also failed to remain above the swing highs from Wednesday and Thursday
Jun 5, 2020 Read more

Gold tests the May low as investors abandon the safety trade

The debt monetization trade fades The big risk in the gold trade next week is that the Federal Reserve highlights that the economy hasn't been as bad as feared and hints that it will ease up in the stimulus.
Jun 5, 2020 Read more

USDCAD breaks its 200 day MA.

First move below the 200 day MA since Feb 21 The USDCAD continues to move lower (loonie higher). The US job report wasn't the only surprise. Canada also reported a surprise 500K gain in jobs in May earlier today.
Jun 5, 2020 Read more

Canada May Ivey PMI 42.1 vs 23.6 prior

Canada Ivey PMI for May 2020 For PMIs, it's important to note that improvement doesn't mean improvement in the underlying business. Any reading below 50 is still a contraction, so this is simply a slower contraction.
Jun 5, 2020 Read more

Major indices open with solid gains led by the Dow

Dow industrial average played catch up with a 2.7% gain A snapshot of the major indices currently shows The Dow 30 stocks have been the beaten-down index. It still is down -5.34% on the year, but for the week is leading the charge with a 6.33% gain.
Jun 5, 2020 Read more

GBPUSD moves higher as traders squeeze higher and away from the 200 day MA

Good for US is good for the beaten down GBP The dollars has moved higher vs. the EUR, CHF, JPY after the US jobs report, but not against the GBP. That currency at times is thought of a "risk on" currency. It also can get squeezed higher as traders work through the potential negative of Brexit, and coronavirus, etc. on their economy.
Jun 5, 2020 Read more

Is the jobs report a game-changer?

It certainly is for sentiment as fear turns to greed Despite the huge rally in stock markets since the March bottom, there is still a mountain of money on the sidelines or in safe-haven assets like Treasuries.
Jun 5, 2020 Read more

USDJPY trades at the highest level since March 27

Moves above 61.8% retracement of the move down from the March high The price technically has moved above the swing hi going back to April 6 at 109.373 and its 61.8% retracement of the move down from the March high to the May low. That level comes in at 109.520.  The high price extended to 109.669 so far. We currently
Jun 5, 2020 Read more

Trump will host a press conference at 10 am ET

Trump to speak about the jobs report Here's a preview of what he will say: For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

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