Month: March 2021

Dollar rises further in early US session after much stronger than expected non-farm payroll report. 10-year yield also surges and it’s now back above 1.6 handle. The greenback in currently the second strongest for the week, only overwhelmed by the oil supported Canadian Dollar. While Swiss Franc and Yen are trying to recover against others,
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MELBOURNE: Oil prices rose early on Friday, adding to big gains overnight after OPEC and its allies agreed to not increase supply in April as they await a more solid recovery in demand from the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude futures climbed 17 cents, or 0.3%, to $64.00 at 0128 GMT, holding
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Fed Chair Jerome Powell’s lack of concrete hint on action against rising nominal rates sent treasury yield higher, and stocks lower overnight. Dollar rode on risk aversion and jumped sharply higher. Nevertheless, the greenback’s rally was concentrated against Euro, Swiss Franc and Yen only. Sterling, Canadian, and Australian are indeed still rather resilient. In particular,
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Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan
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The MA was tested earlier but has now broken the MA level The USDCAD has broken below its 200 hour moving average 1.26166.  Earlier in the session, the pair’s price came down and tested the moving average line (see green line), only to find willing buyers.  The corrective move back higher took the price toward a swing area between 1.2647
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LONDON: Saudi Arabia‘s energy minister said on Thursday that the situation in the oil market had improved but the outlook for a recovery in demand remained uncertain. Prince Abdulaziz bin Salman was speaking at the opening of a meeting of the Organization of the Petroleum Exporting Countries, Russia and its allies, a group known as
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