Global News

Euro Extends Losses, Breaches 1.0663 Support

The sell-off in EUR/USD that resulted from European Central Bank action and President Mario Draghi’s comments afterward accelerated on the breach of 1.0700 and continued through key support at 1.0663 to the three-day low of 1.0616. For the time being, 1.0600 is providing support, capping the dollar’s gains at 1.25%.Read More

Dollar Defensive Despite Stock Market Rally

he 200-plus point rally in the Dow Jones Industrial Average failed to translate into any significant demand for the dollar, leaving the USD to close in the red against nearly all the G-10 currencies. Sterling was the only exception, giving up 0.45% on Brexit-related pressure now that the UK’s LowerRead More

UK Retail Sales Growth Slows in November

UK’s retail sales growth slowed in November, following a jump in the previous month, as shoppers delayed purchases to the very end of the month to benefit from so-called Black Friday discounts, an industry survey showed. Total retail sales rose 1.3% last month after gaining 2.4% in October, the BritishRead More

Euro Driven Higher By Short-Covering

The dollar struggled to hold onto its earlier gains against the Japanese yen that resulted from bullish U.S. economic data and a record high in the Dow Jones Industrial Average as short-covering in the EUR/USD cross coupled with pronounced technical resistance at 114.75 wiped out most of the dollar’s gains.Read More

Health Care Stocks Still Drifting Lower

Health care stocks were mostly lower, with the NYSE Health Care Index slipping about 0.4% while shares of health care companies in the S&P 500 were down over 0.5% as a group. In company news, Cerecor (CERC) shares slumped on Wednesday after the neurological and psychiatric drugmaker said its CERC-301Read More

European ADRs Edge Higher as Banks Log Gains

American depository receipts of European stocks were 0.4% higher at 114.39 on the Bank of New York Mellon Europe ADR Index on Tuesday. Gainers in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 3.7% higher, followed by Telecom Italia – Savings (TI.A), an Italian telecommunications company,Read More