The Korean won depreciated by nearly 2% against the US dollar in September, making an accumulative 9% year-to-date depreciation. South Korea now is in the middle of its worst wave of the pandemic but reaching full immunity will boost KRW in Q4, according to economists at MUFG Bank. Positive developments in South Korea’s vaccination campaign
Month: October 2021
The sentiment in the crypto markets can change quickly as seen from the Crypto Fear and Greed Index, which has risen from levels of extreme fear on Sept. 30 to neutral today. The sentiment may improve further if Bitcoin (BTC) breaks out and sustains above the psychologically critical level at $50,000. One important event that
Price is higher on the week The AUDUSD closed last Friday at 0.7250. The price is currently trading at 0.72618 for a gain currently up about 12 pips on the week. The move to this level, has seen the AUDUSD move higher on Tuesday to the high for the week at a 0.73104. The pair joined the dollar bull
Bloomberg with a report on Chinese authorities looking to stem contagion risk from Evergrande: A summary of where we are at, in brief: China Evergrande Group edges closer to a massive restructuring Beijing signaling it’s willing to prop up healthy developers, homeowners and the real estate market at the expense of global bondholders Chinese authorities have
The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark
Janet Yellen, U.S. Treasury secretary, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 30, 2021. Sarah Silbiger | Bloomberg | Getty Images With a potential default looming for the U.S. in October, Treasury Secretary Janet Yellen said Thursday she would just as soon see the power over debt
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Buyers into the London close keep the hopes for a rebound in play The GBPUSD moved above the 100 hour MA earlier in the US session and after some up and down price action that saw the 100 hour MA retested, the buyers held the support and has pushed to a new session high as
Tobias Levkovich was well known for setting S&P 500 price targets Citigroup reported that chief equity strategist Tobias Levkovich died on Friday, a month after being hit by a car while crossing a street in Long Island, NY. Levkovich was perhaps the world’s most well-known equity strategist and had been in his role at Citi
Gold prices eased on Friday after rallying to a one-week high above the key $1,750 level in the previous session, as the rebounded and made the metal expensive for holders of other currencies. FUNDAMENTALS * Spot gold fell 0.1% to $1,754.64 per ounce by 0139 GMT, after rising nearly 1.8% on Thursday as the dollar
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, the Commerce Department reported Friday. The core personal consumption expenditures price index, which excludes food and energy costs and is the Federal Reserve’s preferred measure of inflation, increased 0.3% for the month and was
The RBA will maintain all monetary policy measures unchanged at next week’s meeting. That is, the cash rate, as well as the yield target on the April 2024 bond, will stay at 0.1%. Asset purchases will also be kept at a pace of AUD 4B/week. Policymakers will continue to warn of the slowdown in the
On Oct. 1, the cryptocurrency market experienced a 9.5% pump that drove Bitcoin (BTC) and Ether (ETH) to their highest levels in 12 days. A variety of reasons have been attributed to the price move, including the U.S. consumer price index, exchanges’ diminishing supply, and a “cup and handle” bullish continuation chart formation. Traders are
100 hour moving average at 0.692964 the NZDUSD The NZDUSD has extended its move to the upside and in the process has moved above its 100 hour moving average at 0.69296. Staying above that level now will keep the buyers more in control at least in the short term. Having said that, the 38.2% retracement of
China has not lived up to pledge to purchase additional $200B in goods US Trade Representative Katherine Tai will announce Monday that China is not complying with the so-called phase one trade deal, sources familiar with the matter told CNBC. The report said Tai will outline how China has fallen short on a pledge to