Summary
On recent evidence the U.S. economy is the healthiest in the industrial world. Janet Yellen and the Fed board have to be pleased with the results of their prolonged quantitative easing policy and may even have breathed a sigh of relief when the stock market did not crash as QE ended, as had been predicted by many. The stark rise of the dollar since mid-summer is as much the result of the positive American economic background as of the evident desire of the ECB and the Bank of Japan to devalue their currencies in lieu of effective rate policy at the zero boundary. There is a complacent market assumption that the strength of the U.S. economy will enable the Fed to raise the Fed Funds rate in the first half of next year, propelling the dollar ever higher. Is the U.S. economy so buoyant that it can withstand the slowdown and stagnation in the rest of the global economy? What is the evidence? We will examine the current set of economic assumptions, their reflection in Fed policy, and consider some alternative scenarios. Please join us with your opinions, comments and questions.Latest Live Videos
Editors’ Picks
EUR/USD declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.