Canadian Dollar Softens after CPI Release, Dollar Recovering Slightly
Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is...
Yellen says the U.S. and its allies should use ‘friend-shoring’ to give supply chains a boost
U.S. Treasury Secretary Janet Yellen (pictured here at a news conference, ahead of the G-20 meeting in Bali on July 14), said supply chain resilience is a key focus of the Biden-Harris administration. Made Nagi | Reuters U.S. Treasury Secretary...
GBPUSD Jumps Higher to Meet 1.2000
GBPUSD is showing signs of being positive in the short run, after gaining ground on Thursday and breaking over its 28-month low of 1.1760. The technical indicators are pointing upwards as the RSI is on the rise, but it has...
NZD Jumps on Strong Inflation But Unlikely to be for Long
The annual inflation rate in New Zealand accelerated to 7.3%, a new high since 1990 and above average forecasts for 7.1%. The quarterly price growth of 1.7% also remains elevated, showing no deceleration in the last quarter. Short-term inflation figures...
EUR/USD Extending Rebound as Dollar Continues Pullback
Dollar, Yen and Swiss Franc are both under some selling pressure today, as overall risk sentiment improved. Sterling is currently the winner and Euro is not too far behind. Canadian Dollar leads commodity currencies, as Kiwi is somewhat lagging despite...
Oil Clings to Last Support at 200-day MA
Crude Oil has added 3% on Monday after finding support late last week as expectations of a meeting between the US and Saudi leaders did not materialise. The much-anticipated and much-discussed meeting between Biden and Mohammed bin Salman took place...
Dollar Extending Pull Back; ECB, BoJ and Lots of Data This Week
Risk sentiment is positive as another week starts, with major Asian indexes trading higher while Japan is on holiday. Dollar is extending its near term pull back while Yen and Swiss Franc are also soft. On the other hand, New...
Weekly Economic & Financial Commentary: This Party Is Breaking Up Fast
Summary United States: This Party Is Breaking Up Fast Signals of a slowdown are starting to flash across sectors. Business and consumer sentiment have faltered, real consumer spending has weakened, housing activity has stalled and business investment is downshifting in...
The Weekly Bottom Line: BoC Delivers Shock 1% Hike
U.S. Highlights Market sentiment soured this week on stronger than expected CPI data and a weak start to corporate earnings season. US CPI accelerated in June, rising 1.3% m/m, pushing the year-ago measure to a new multidecade high of 9.1%....
Stocks making the biggest moves midday: Citigroup, Wells Fargo, Pinterest and more
Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading. Pinterest — Shares of the image-sharing social media company surged 16.2% on a report from the Wall Street Journal that Elliott...
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