Sterling Forms Double Bottom Ahead Of The UK Retail Sales
The British pound rose against the US dollar ahead of important UK retail sales numbers. The median estimate is for the country’s core retail sales to rise from -8.8% in January to 1.9% in February. This will lead to an...
Sterling Rebounding as Risk Sentiments Improved, Swiss Franc and Yen Drop
Overall risk sentiments continue to drive the forex markets. Yen, Swiss Franc and Dollar softer following rebound in US and Asian stocks. On the other hand, Australian Dollar is leading commodity currencies and Sterling higher. Still, for the weak, Dollar...
Elliott Wave View: GBPJPY Ended Correction
Rally from September 21, 2020 low in $GBPJPY is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 21, 2020 low, wave (1) ended at 140.7 and pullback in wave (2) ended at 136.79. Pair resumed higher...
China slaps new sanctions on UK entities over ‘lies and disinformation’ on Xinjiang
Chinese Foreign Ministry spokeswoman Hua Chunying attends a news conference in Beijing, China January 21, 2021. Carlos Garcia Rawlins | Reuters BEIJING — China slapped sanctions on U.K. entities on Friday, saying that Britain’s sanctions on Chinese individuals over alleged...
After SNB Decision, Will Swiss Franc Resume its Decline?
The Swiss franc is unchanged in Thursday trading. Currently, USD/CHF is trading at 0.9353, down 0.02% on the day. Swiss franc steady as SNB holds the course There were no surprises from the Swiss National Bank, which held its policy meeting...
Powell praises economic recovery and sees Fed pulling back help after ‘substantial’ progress
Federal Reserve Chair Jerome Powell prepares for a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C. on Dec. 2, 2020. Jim Lo Scalzo...
Swiss Franc Decline Slows after SNB, Dollar Attempting Rise after Jobless Claims
Sterling trades mildly higher in rather quiet market today while Euro and Yen turn softer. Dollar is attempting to extend this week’s rally after better than expected jobless claim data. But no follow through buying is seen in the greenback...
Weekly jobless claims tumble to lowest level in more than a year
First-time claims for unemployment insurance unexpectedly fell sharply last week amid signs that hiring has picked up in the U.S. economy, the Labor Department reported Thursday. Claims totaled 684,000 for the week ended March 20, the first time the number...
UK start-up funding platforms scrap $190 million merger amid competition concerns
Darren Westlake, co-founder and CEO of Crowdcube, at a fintech conference in London, on April 12, 2017. Simon Dawson | Bloomberg via Getty Images LONDON — British start-up crowdfunding platforms Crowdcube and Seedrs agreed Thursday to terminate their £140 million...
SNB Appears Less Concerned about Franc’s Strength, Raises Inflation Forecasts
The SNB left all its monetary policy measures unchanged. It kept the policy rate and interest on sight deposits at −0.75% and pledged to continue intervening the FX market if necessary. While leaving the growth outlook intact, the central bank...
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