Silver Drops Sharply after False Break Above $30
Spot silver fell sharply on Tuesday (down nearly 7% until early hours of the US session) following short-lived surge to eight-year high on probe above $30 barrier on Monday. The rally stalled after huge buying by a pack of small...
Dallas Fed President Kaplan stresses need for more spending to keep economic recovery going
Dallas Federal Reserve President Robert Kaplan in a CNBC interview Tuesday backed more spending across a variety of fronts as the economy tries to shake off the Covid-19 pandemic effects. President Joe Biden has proposed spending $1.9 trillion to provide...
Dollar Index Rises to Nine-Week High on Fading Risk Sentiment
The dollar index extends gains and hits the highest in nine months on Tuesday, lifted by fading risk sentiment on darkening economic outlook on extended lockdowns. Monday’s 0.54% rally, which penetrated through the base of thick falling daily cloud (spanned...
As GameStop plunges, Volkswagen’s 2008 short squeeze gives an idea of how painful it will get
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images Volkswagen often comes to mind when investors try to find a short squeeze comparable to GameStop’s jaw-dropping...
Aussie Dips Lower as RBA Adds QE
The Australian dollar has recorded slight losses on Tuesday. Currently, AUD/USD is trading at 0.7599, down 0.28% on the day. Earlier in the day, the Aussie fell below the 0.76 level for the first time in 2021. RBA extends QE...
Euro Tumbles Through Support, Canadian Surges With Oil’s Upside Breakout
Canadian Dollar is currently trading as the strongest one for today, following the upside breakout in oil price. The resilient Sterling is following as second strongest, awaiting BoE to rule out negative interest rates later in the week. On the...
USDCHF Aims To End Falling Trend, Eyes On 0.9015
USDCHF charted an inverse head and shoulder formation at the bottom of its sell-off, where a six-year low of 0.8756 has taken the form of a bullish doji in early January, signalling the end of the bearish phase. The case...
RBA Extends Asset Purchases of AUD 100B Until September
RBA announced to extend the asset purchase program by an additional AUD100B as the current program ends in mid- April. Meanwhile, it has turned more upbeat about the global and domestic economic outlook, and upgraded GDP and employment forecasts. RBA...
Australian Dollar Softens after RBA Expands QE, Euro Pressing Key Support Again
Australian Dollar softens mildly after RBA expands asset purchases by another AUD 100B. Also, it pledges to keep interest rate unchanged at current level until at least 2024. On the other hand, New Zealand Dollar and Canadian Dollar are the...
BOE Preview – Awaiting Updates on Negative Rate Policy and Economic Projections
There are several things to watch for this week’s BOE meeting: 1) updates on the review of negative interest rate; 2) adjustment to QE; 3) economic projections. All policy measures will stay unchanged this week with the Bank rate unchanged...
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