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Day: March 9, 2021

Bank of Canada to Stand Pat, Keep One Eye on the Loonie as Recovery Gathers Steam

The Bank of Canada meets this week to set policy and will announce its decision on Wednesday at 15:00 GMT. No change is expected in either interest rates or the pace of asset purchases. But following the better-than-anticipated GDP performance in the fourth quarter, a booming housing market, soaring oil prices and renewed efforts to …

Bank of Canada to Stand Pat, Keep One Eye on the Loonie as Recovery Gathers SteamRead More

XAU/USD Outlook: Limited Correction To Precede Bearish Continuation

Spot gold rose from new nine-month low ($1676) on Tuesday, as dollar bulls are pausing and technical studies on daily chart are oversold, providing temporary support to the metal. Overall picture remains negative for gold, as global growth recovery and optimism over vaccine rollout fuels risk sentiment and reduces safe-haven demand, suggesting limited recovery before …

XAU/USD Outlook: Limited Correction To Precede Bearish ContinuationRead More

USD/JPY Outlook: Overbought Daily Studies Warn Of Correction Before Bulls Continue

Bulls are taking a breather on Tuesday, following strong bullish acceleration in past eight days which peaked at 109.23 today (the highest since June 8), but faced headwinds from 200WMA (109.00) and Fibo 38.2% of 2015/2016 125.84/98.99 fall (109.25). Bulls tightened grip after last Friday’s close above pivotal Fibo barrier at 108.23 (61.8% of 111.71/102.59 …

USD/JPY Outlook: Overbought Daily Studies Warn Of Correction Before Bulls ContinueRead More

The US Dollar Pushes Higher Again

US dollar gains on US yields, inflation fears The dollar index pushed higher again overnight, rising 0.37% to 92.31. Rising US yields, structurally short positioning and a myopic fixation on growth-driven inflation continue to lift the greenback, notably versus G-7 and commodity currencies. Nowhere is that more apparent then EUR/USD, where the single currency has …

The US Dollar Pushes Higher AgainRead More

‘Significant long-term scarring’ in services will limit pent-up consumer demand and suppress inflation, economist Stephen Roach predicts

Economist Stephen Roach said Monday he believes Wall Street is overestimating a consumer comeback. According to the Yale University senior fellow, demand will snap back like a rubber band later this year as the V-shaped recovery loses momentum. “With vaccines rushing out together with a lot of stimulus, you can just sense this instant gratification of …

‘Significant long-term scarring’ in services will limit pent-up consumer demand and suppress inflation, economist Stephen Roach predictsRead More

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