Sterling Hits 3-Week High
The British pound has extended its gains on Thursday, as the US dollar continues to retreat against the major currencies. GBP/USD is currently trading at 1.3710, up 0.41% on the day. Earlier, the pair rose to 1.3434, its highest level since...
Jobless claims fall below 300,000 for the first time since the pandemic began
Initial jobless claims fell below 300,000 for the first time since the early days of the Covid-19 pandemic, the Labor Department said Thursday. In another sign the jobs market is getting closer to its old self, first-time claims for unemployment...
CAD, AUD, NZD Rise in Risk-on Markets, JPY Selling in Force
Commodity currencies rise broadly today on the back on risk-on sentiments. Major European indexes are trading up while US futures also point to higher open. Yen is extending recent broad based decline since though treasury yields are in retreat. Dollar...
XAU/USD Outlook: Weaker Dollar And Rising Inflation Lift Gold
Spot gold rose sharply on Wednesday (up 1.82% for the day, the second biggest daily advance in 2021) lifted by weaker dollar on further rise in US inflation and unclear situation regarding the start of tapering stimulus, which markets widely...
US Dollar Index Outlook: Extended Pullback From One-Year High Warns Of Deeper Correction
The dollar extends lower on Thursday, following Wednesday’s 0.52% drop, with Wednesday’s close below 10DMA (94.14) and today’s drop through Fibo 23.6% of 91.92/94.55 upleg, generating initial reversal signal. After minor negative impact from downbeat US jobs data, which were...
Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil
Russian President Vladimir Putin delivers a speech during the Russian Energy Week event on October 13, 2021 in Moscow, Russia. Mikhail Svetlov | Getty Images Russian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can...
AUDUSD Paves Way For Further Progress, Bullish Bias Fragile
AUDUSD is targeting the 0.7400 level again after successfully piercing the descending trendline drawn from May’s peak of 0.7890 on Wednesday. The bullish bias is still in place according to the momentum indicators as the MACD continues to grow within...
The Setback In Yields To Be Corrective/Temporary In Nature
Markets Moves on the interest rate markets yesterday suggested that investors still have to navigate a complex of unsure, potentially conflicting, factors. The US curve continued Tuesday’s flattening trend. The US inflation data supported the move, but were not the...
Yen Selloff Resumes, Aussie Shrugs Weak Job Data
Yen’s decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC...
FOMC Minutes: QE Tapering can Come in As Soon As Mid-November
At the FOMC minutes for the September meeting, the members sent more hints about QE tapering. It is highly likely a formal announcement will be made in November, barring abrupt deterioration of pandemic condition and power shortage problems. On economic...