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Day: March 11, 2021

European Central Bank Leans Against Rising Yields

Summary The European Central Bank (ECB) announced its latest monetary policy decision today. While policy interest rates and the total size of its Pandemic Emergency Purchase Program (PEPP) were left unchanged, the ECB did make one notable policy tweak. In an effort to offset rising bond yields and boost inflation prospects, the ECB said it …

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EURGBP Tiptoes Around Bottom Base; Bearish Bias Holds

EURGBP is currently crawling across the floor of 0.8538-0.8557, the latter being a 1-year low on February 24, where the pair rejected the level. The gliding simple moving averages (SMAs) are dictating the bearish picture, while the flattening Ichimoku lines are reflecting the dry-up in negative momentum, echoing the price’s struggles to dive deeper. The …

EURGBP Tiptoes Around Bottom Base; Bearish Bias HoldsRead More

ECB to Accelerate Asset Purchase as Rising Bond Yields Tighten Market

While leaving the monetary policy measures unchanged, the ECB indicated that it would increase asset purchases in coming months. The move is a response to the rise of bond yields which could tighten the financial conditions. On economic developments, the central bank attributed the likely contraction in 1Q21 to high coronavirus infection rates, mutations and …

ECB to Accelerate Asset Purchase as Rising Bond Yields Tighten MarketRead More

Euro Mildly Softer after ECB, But Dollar and Yen Even Weaker

Euro softens mildly after ECB announced to speed up PEPP purchases in the next quarter. But loss is relatively limited as the overall envelop was kept unchanged. Dollar and Yen are currently the worst performing one for today, on the back of risk-on sentiments. Commodity currencies are currently the stronger ones, as led by Aussie. …

Euro Mildly Softer after ECB, But Dollar and Yen Even WeakerRead More

Weekly jobless claims rise less than expected with Biden set to sign $1.9 trillion Covid package

Weekly jobless claims rose less than expected last week, but remained above pre-pandemic levels, as the U.S. economy tried to shake off impacts from Covid-19 and employers waited to see if President Joe Biden’s $1.9 trillion stimulus would become law. The Labor Department on Thursday reported that first-time filings for unemployment insurance in the week …

Weekly jobless claims rise less than expected with Biden set to sign $1.9 trillion Covid packageRead More