Here is what you need to know on Wednesday, September 2: After falling to fresh lows throughout the first half of the day, the dollar managed to recover some ground. The trigger was an upbeat ISM Manufacturing PMI, which spurred some profit-taking. Nevertheless, the dollar is still the weakest across the FX board. EUR/USD hit
Month: September 2020
More or a correlation than causation I don’t see anything in Brainard’s comments that would argue for buying the dollar here. She said risks are tilted to the downside and it will take some time for inflation to get closer to target. If anything she’s saying that more accommodation is coming. But the dollar is
By Sonali Paul and Seng Li PengMELBOURNE/SINGAPORE: Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude futures climbed 47 cents, or 1 per cent, to $45.75 a barrel at 0635 GMT. U.S. West Texas Intermediate (WTI)
Sterling overtakes Euro as the strongest currency for today, as cross buying against the latter resumes after brief consolidation. However, Swiss Franc is clearly left behind and it’s trading as the worst performing one. Rallies in Gold and Silver are a factor pressuring the safe haven Franc. Yen is following as the second weakest currencies.
Getty Images The pace of job gains over the next decade will slow considerably amid a sharp decline in the active labor force and an aging population, according to Labor Department projections released Tuesday. From the period of 2020-29, the economy is expected to add a net 6 million new jobs, an annual growth rate
The latest ruling in the class-action lawsuit against OneCoin has dismissed Konstantin Ignatov, co-founder of OneCoin, as a defendant after he agreed to testify against his sister. Ignatov is the brother of Ruja Ignatova, the infamous leader and face of OneCoin also known as “Cryptoqueen.” Ignatova disappeared in 2017 and has since managed to evade
The greenback is the weakest performing major currency so far today There isn’t much reprieve for the dollar following the losses yesterday, though we are seeing EUR/USD back away from levels near the 1.2000 handle at least to start the session. The pair touched a high of 1.1997 earlier in the day but is now
September has kicked off with an extension of previous trends – higher stocks and a fall in the dollar. EUR/USD is trading close to 1.20, fueled by several encouraging factors. New German forecasts and the ISM Manufacturing PMI are awaited, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Federal Reserve Vice-Chair Richard Clarida clarified
A more positive tilt in early trades German DAX futures +0.8% UK FTSE futures -0.3% Spanish IBEX futures +0.8% European stocks look set to bounce back after a disappointing start to the week yesterday, though the early gains here may be fleeting as US futures aren’t showing the same degree of enthusiasm as we get
KUALA LUMPUR: Malaysian palm oil futures rose to their highest level in nearly a month on Tuesday and are set to extend a three-day winning streak, tracking higher rival soy oil and crude prices. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 58 ringgit, or 2.12%, to 2,796
Euro trades broadly higher in Asian session as it finally takes out near term resistance against Dollar and Yen. Swiss Franc is following the common currency closely as second strongest. Gold is also tracking the Euro higher too. Dollar and Yen continue to stay under broad based pressure. The limelight is currently off Australian Dollar
St. Louis Fed President James Bullard said Friday that he believes the recession caused by the coronavirus pandemic is over but that the central bank will continue its accommodative stance toward the U.S. economy. Bullard said on CNBC’s “Closing Bell” that he expected the third quarter to be “one of the best quarters ever for
Eric Yuan, founder and chief executive officer of Zoom Video Communications Inc., center, celebrates during the company’s initial public offering at the Nasdaq MarketSite in New York on April 18, 2019. Victor J. Blue | Bloomberg | Getty Images Zoom Video Communications shares rose as much as 9% in extended trading on Monday after the