US Dollar Index: Dollar Eyes US Inflation Data
The dollar index edges lower on Wednesday after rebound on better than expected US NFP showed signs of stall. Repeated failure to clear initial Fibo resistance at 95.66 (23.6% of 97.42/95.12 bear-leg) weakened near-term structure, as daily MA’s (10/20/55) remain...
Why UK’s Q4 GDP Growth Data May Not Help the Pound
The UK will publish its final quarterly GDP growth readings for 2021 on Friday at 09:30 GMT. The outcome may not impress investors as forecasts imply the economy almost flatlined at the end of the year, growing more or less...
AUD/USD Outlook: Risk Appetite Lifts Aussie to Two-Week High
The Australian dollar extends advance into third straight day, lifted by fresh risk appetite that lifted stocks and reopening of Australia’s borders. Bulls broke above last week’s high (0.7168) and pressure pivotal barriers at 0.7181/83 (Fibo 61.8% of 0.7314/0.6967 /...
Aussie Rises on Risk-on Sentiment, Dollar Soft Despite Rising Yields
Australian Dollar rises further again with help from risk-on sentiments in the US and Asia. On the other hand, Dollar turns soft despite rising treasury yields. Canadian Dollar is dragged down slightly by oil prices. Other parts of the forex...
Gold Climbs above the MAs and the Ichimoku Cloud
Gold recently breached the 1,800 handle and has extended beyond the simple moving averages (SMAs) and the Ichimoku cloud. Although the longer-term averages are endorsing a more neutral trend, the upturn of the 50-period SMA, is suggesting upside momentum is...
Consumer debt totals $15.6 trillion in 2021, a record-breaking increase
Consumers ended 2021 with record levels of debt, leading into a year in which interest rates are expected to rise substantially. Total U.S. consumer debt at the end of the year came to $15.6 trillion, a year-over-year jump of $333...
Higher Yields Start to Bite but Stocks Fight Back, Dollar Edges Up
Bond yields climb to fresh highs as inflation and tighter policy fears grip markets Equities nevertheless perk up globally but Wall Street on shaky ground Dollar regains front foot, oil prices pressured by optimism around US-Iran talks Sentiment improves despite...
Stock futures muted after S&P, Nasdaq fall to start the week
U.S. stock index futures were muted in early morning trading Tuesday, after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later this week. Futures contracts tied to the Dow Jones...
Dollar Strengthens Mildly in Quiet Trading, Gold Recovers Further
Dollar strengthens mildly in Asia today but overall markets have been quiet this week so far. Euro continues to consolidate last week’s sharp gain, ahead of a key near term resistance against the greenback. Commodity currencies are the slightly stronger...
Bank of England Update: More Rate Hikes Incoming
Key takeaways As expected, the Bank of England (BoE) raised the Bank Rate by 25bp to 0.50% and announced the beginning of “passive QT” (ceasing reinvestments of maturing bonds) last week. A major surprise was that four out of nine...