CBO sees rapid growth recovery, labor force returning to pre-pandemic level by 2022
A worker uses a hoist to assemble a car seat at the Lear Corp. manufacturing facility in Hammond, Indiana. Jim Young | Bloomberg | Getty Images U.S. economic growth will recover “rapidly” and the labor market will return to full...
Upbeat RBA Could Lift Aussie, But All Eyes on Stocks
The Reserve Bank of Australia (RBA) will wrap up its latest meeting at 03:30 GMT Tuesday. No policy changes are on the menu, so any reaction in the aussie will come down to the signals in the accompanying statement and...
Turkish Lira Rises to Five-Month High vs Dollar on Break of Key Barriers and Upbeat Data
The Turkish lira is among top gainers on Monday, advancing 1.6% against the US dollar since opening in Asia and on track for further advance. Last week’s break of pivotal 200DMA generated positive signal, with fresh acceleration through next key...
Currency pair of the week: GBP/AUD
One month after the Brexit trade deadline, Britain is already looking to join a new trading bloc, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes countries such as Japan, Australia and Canada. This would allow the UK...
Swiss in Broad Based Selloff While Silver Steals the Show
Swiss Franc’s selloff is a major focus in the forex markets today, in particular, as it breaks through a key support level against Sterling. The development somewhat drags down the Euro too. The Pound and Dollar are currently the stronger...
AUD/USD Pair Started An Upward Move Below 0.7605
The Aussie Dollar seems to be forming a decent support base above the 0.7600 level against the US Dollar. The AUD/USD pair traded as low as 0.7605, and recently started an upward move. It broke the 0.7625 level, but it...
Vaccine Delays Causing Limited EU Critique
Market movers today Today the main mover is the US ISM manufacturing index for January. It has been on a rising path since April but is probably close to a peak as Chinese PMI’s point to a peak in the...
RBA to Leave Policy Unchanged and Remain Cautious about Outlook Despite Recovery
The RBA will have its first meeting this year on Tuesday, followed by publication of the statement of monetary policy on Thursday. We expect all policy measures to stay unchanged this month. Policymakers could revise GDP forecast higher and the...
Sterling Firm as Markets Await BoE, Asian Stocks Up
Asian markets open the week generally higher today, shrugging off the steep selloff in the US on Friday. Australian and New Zealand Dollar firm up mildly. But Sterling is so far the better one, as markets await BoE’s affirmation on...
New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected
Workers stand at the port of Qingdao, Shandong province, China June 10, 2019. Reuters BEIJING — China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic,...