Dollar Retreats as EUR/USD Tests 1.7 Support
The forex markets are generally trading in very tight range in Asian session. While DOW surged to new record high overnight, Asian indexes are just mixed. Dollar started a pull back but there is no clear follow through selling so...
China’s tech giants generate billions for investors — but small businesses are being squeezed
Delivery workers wait for the light to turn green at a major intersection in Beijing on July 30, 2021. Evelyn Cheng | CNBC BEIJING — Investors in Chinese companies were caught off guard this summer by Beijing’s actions against homegrown...
July consumer prices jump 5.4%, but core inflation rises less than expected
Prices that Americans pay for everyday goods and services rose in July as pent-up demand for travel and restaurants kept inflation hot, but jumped about as much as economists had expected. The Labor Department reported Wednesday that its consumer price...
Fed should announce bond taper in September, begin it in October, says Dallas Fed President Kaplan
Dallas Federal Reserve President Robert Kaplan said Wednesday that the central bank should begin to taper its monthly purchases of Treasury bonds and mortgage-backed securities in October. His view that the central bank ought to begin cutting back in two...
Will ‘King Dollar’ Reclaim its Throne as the Fed Tapers?
One by one, Fed officials are getting behind the idea that their asset purchases should be dialed back soon. Whether this is announced in September or November doesn’t matter much. What matters is that the Fed is years ahead of...
US CPI Recap: Have Hopes of a Jackson Hole Taper Announcement Been Dashed?
Some traders were still holding out hopes that another scorching inflation print could spook the Fed into announcing its taper plan at Jackson Hole; with today’s data merely meeting expectations, those hopes may now be dashed. With Federal Reserve members...
Dollar Paring Gains after CPI Release, Commodity Currencies Jump with Stock Futures
Dollar drops notably in early US session after consumer inflation data. Headline CPI was steady while core CPI slowed a little. At least, inflation hasn’t been worsening from Fed’s “transitory rhetoric”. US stock futures also jump, probably on reduced concerns...
White House to call on OPEC to boost oil production as gasoline prices rise
The White House will call on OPEC and its oil-producing allies to boost production in an effort to combat climbing gasoline prices, amid concerns that rising inflation could derail the economic recovery from Covid. Biden administration officials spoke with representatives...
EURUSD Is Possibly Bearish
Technical analysis The RSI is under line 50 but closer to 20, indicating that a downtrend may prevail with a possible upward correction The Ichimoku indicator displays a bearish sentiment. The Stochastic suggests a possible upward correction. What the possible...
GBP/USD Pair Moved Into A Bearish Zone From 1.3900
The British Pound started a fresh decline after it failed to surpass 1.4000 against the US Dollar. The GBP/USD pair traded below the 1.3900 support level to move into a bearish zone. The pair even broke the 1.3850 support and...
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