NZ Dollar Plunges on Housing Reforms
The New Zealand dollar has plummeted in Tuesday trade. Currently, NZD/USD is trading at 0.7024, down 1.94% on the day. Earlier in the day pair fell as low as 0.7020, its lowest level this year. NZ dollar plunges on new...
Fed’s Kaplan said he expects an interest rate hike in 2022
Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday he likely will favor an interest rate increase before the end of 2022. Though he doesn’t see inflation becoming a problem anytime soon, the central bank official said he expects...
Yen Rally Accelerates As Selloff in Commodity Currencies Intensifies
Yen buying accelerates today as selloff in commodity currencies intensified. New Zealand Dollar is trading as the worst, by some distance, followed by Aussie. Canadian Dollar is dragged down by decline in oil prices, while Sterling is also pressured after...
Pound Falls as Unemployment Claims Soar
A mixed jobs report is dragging on the pound. The ILO employment report revealed that unemployment unexpectedly ticked lower to 5% in the three months to January, down from 5.1% in December and below the 5.2% expected. The unemployment rate...
WTI Futures Tumble Below SMAs, Posting Negative Correction
WTI futures have come under renewed selling pressure, falling back below the short-term simple moving averages (SMAs) after the pullback off the 62.00 handle. Despite the latest down move, the commodity has not posted a lower low yet, which makes...
AUD and NZD Tumble Following Risk Aversion in Hong Kong and China
Commodity currencies are generally weak in Asian session, together with Sterling. Stocks in Hong Kong and China are reacting negatively to joint sanctions by EU, UK, Canada and US over China’s genocidal treatments of Uyghurs in the Xinjiang region. EU’s...
TRYing Times & EM FX Volatility
Turkish Lira fireworks are back with a bang in the EM scene. TRY plunged at the start of Monday trading after Erdogan fired central bank governor Naci Agbal following a rate hike. EM currencies were pressured across the board, prompting...
Inflation fears are creating ‘extraordinary’ buying opportunities in tech, Invesco says
When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we...
Elliott Wave Analysis: USD/TRY Can be Headed Much Higher after Erdogan’s Actions
We have a few topics that will drive the markets this week. First is coming from Turkey after Erdogan has fired the central bank governor after they increased rates on Thursday. TRY lost 15% against the USD. Second important topic...
Existing home sales fell sharply in February, as supply dropped by the largest amount on record
Single-family homes are seen in this aerial photograph taken over a Lennar Corp. development in San Diego, California. Bing Guan | Bloomberg | Getty Images Closed sales of existing homes in February dropped a larger-than-expected 6.6% compared with January, according...
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