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Stock impact report

'Death Cross,' growth abroad threatens U.S. dollar [Reuters]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Reuters
'Death Cross,' growth abroad threaten U.S. dollar NEW YORK (Reuters) - Storm clouds are gathering over the U.S. dollar, threatening a two-year rally in the currency that has squeezed corporate profits and angered President Donald Trump. Dollar bullishness in future markets stands at its lowest level in more than a year-and-a-half, according to the most recent data from the Commodity Futures Trading Commission measuring the net dollar amount of bets on a rising greenback. Analysts at Bank of America Merrill Lynch say the dollar triggered a so-called “Death Cross” on the last day of 2019. The bearish technical formation occurs when the 50-day moving average crosses below the 200-day moving average, something that has been followed by a period of dollar weakness in seven out of eight instances since 1980, the bank said in a recent report. Easing worries over global trade and Brexit are stoking investor appetite for risk, pushing them out of safe haven assets like the dollar, said Mark Mc Show less Read more
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