Stocks and Dollars

GDP output in May unexpectedly declined 0.3% in the month relative to an expected increase of 0.1%. The decline follows unchanged activity in April and a 0.3% rise in March. The unexpected weakness was concentrated in the mining, oil and gas extraction component, which plummeted 5.3% in the month. This

The US GDP data today was worse than expected, and the USD took it in the jaw immediately after.

The USD/CHF sharp decline out of a pennant consolidation pattern reflects bearish continuation.

When we look at the daily chart, we see that we had a swing projection to 0.7850, and the market

Ahead of today’s US GDP data, the GBP/USD almost completed an AB=CD pattern. Almost, in that there was not exact wave equality, but the second downswing was cut short as it tested the 200SMA in the 1H chart.

This was a technical setup for a bullish attempt.

U.S. stocks reconsider Friday losses after President Barack Obama calls for compromise in getting debt deal done to avert default.

Stocks are swinging between gains and losses as investors try to guess whether debt standoff in Washington will be resolved.

The tech sector turns positive, lifted by gains in shares of SanDisk and Expedia.

NEW YORK, July 29 (Reuters) – U.S. stocks pared sharplosses and moved higher on Friday as President Obama called forcompromise on debt ceiling talks in Washington and Republicansplanned to revise a bill …

Concerns over a possible U.S. debt default and weak second-quarter GDP data keep downward pressure on energy stocks.