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...
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...
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...
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...
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....
Oil Consolidates, Gold Rebounds
Oil markets continue to consolidate Having retraced nearly 50% of last week’s rally, oil markets rose modestly overnight, as both Brent and WTI consolidate recent gains. The official US crude inventory data show massive swings in inventories, gasoline and distillate...
CHF/JPY 4H Chart: Decline Could Continue
The Swiss Franc has been declining in a descending channel pattern against the Japanese Yen since the middle of February. The currency pair fell by 1.06% during last week’s trading sessions. As for the near future, the CHF/JPY exchange rate...
Sentiments Approved after US 10-Yr Auction, ECB Comments on Yields Awaited
Australian Dollar leads other commodity currencies higher today on improved market sentiments. Asian stocks are trading generally higher, following the record close in DOW overnight. Investors found some comfort from the soft yet acceptable 10-year auctions. Dollar, Yen and Swiss...
BOC More Upbeat on Economy, Hinted to Taper as Outlook Continues to Improve
As widely anticipated, the BOC left all monetary policy measures unchanged. While being more upbeat about the economic developments, the members noted that the policy rate will stay unchanged as least until inflation target of 2% is “sustainably” achieved. Meanwhile,...
Tesla’s China-made Model Y takes off despite holiday car sales slump
A Model Y vehicle displayed at a Tesla flagship store on Jan. 4, 2021 in Shanghai, China. Gao Yuwen | Visual China Group | Getty Images BEIJING — Tesla’s Model Y is getting off to a solid start in China,...
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