The Fed says the banks are healthy
Nicolas Suiffet June 26, 2020 6:00 PM
The Federal Reserve released the results of its stress tests.
The Federal Reserve released the results of its stress tests, stating: "The banking system has been a source of strength during this crisis, and the results of our sensitivity analyses show that our banks can remain strong in the face of even the harshest shocks."
From a technical perspective, the Dollar index remains in a down trend despite the recent pullback. Prices are consolidating within an upward-sloping channel (potential bearish flag pattern pattern). The 20- and 50-simple moving averages are heading downwards. The 50DMA could play a resistance role at 98.6. In addition, the daily Relative Strength Index (RSI, 14) remains capped by a declining trend line. As long as 98.6 is resistance, the bias remains bearish. A break below 95.7 would open a path to see 94.6. Alternatively, a push above 98.6 would call for a reversal up trend with 100 as the first target.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.