Month: June 2021

Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The
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USD/INR steps back from intraday top after two-day downtrend. Mildly upbeat sentiment weighs on USD ahead of Powell’s testimony. US-China jitters, covid updates and second-tier data add filters to the moves. USD/INR defends the 74.00 threshold, snapping a two-day pullback from late-April top amid the initial Indian trading session on Tuesday. That said, the Indian
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…GOP wants to fund infrastructure bill by raising gasoline taxes and taxing electric vehicles The White House is out saying that present Biden wants to grow the electrical vehicle industry. That is why he opposes a related tax proposed by the GOP to pay for infrastructure. The GOP also supports raising gasoline tax whereas Pres. Biden said that taxing the low-wage
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USD/CAD continues to push lower during the American session. US Dollar Index drops below 92.00 on Monday. Surging crude oil prices provide a boost to CAD. Following last week’s impressive upsurge, the USD/CAD pair started the new week on the back foot and staged a deep correction. As of writing, the pair was trading at
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