Westpac outline the factors driving the Australian and New Zealand dollars: Near-term risks remain negative, with RBA vs RBNZ trajectory, and trade and political tensions between Australia and China, weighing on the cross and dominating Australian commodity outperformance. There’s potential for a decline towards 1.06 during the month ahead. By year end, though, we expect
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The GBPUSD trades to a new session low The GBPUSD moved to a new low going back to mid -April earlier today after taking out the June low at 1.3786. The low price extended to 1.37643, but bounced higher in the London/early New York session. The run back to the upside extended above the swing low from Tuesday’s trade at 1.38132.
NEW YORK: Oil prices rose about 2% on Thursday on indications that OPEC+ producers could increase output more slowly than expected in coming months, while rising global fuel demand would continue to tighten supply. Brent crude was up $1.23, or 1.7%, to $75.85 a barrel by 12:38 p.m. EDT (1638 GMT). U.S. West Texas Intermediate
Dollar surges sharply against Yen today and maintains gain after better than expected job data. Though, the greenback is retreating mildly against other major currencies, as traders are probably lightening up their positions first ahead of tomorrow’s non-farm payrolls. Comments from ECB and BoE officials gave Euro and Sterling some support. But they’re not enough
U.S. Treasury Secretary Janet Yellen speaks during a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021. Justin Tallis | Reuters WASHINGTON – Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations. If widely
In this article GM Brand new Chevrolet cars are displayed on the sales lot at Stewart Chevrolet on May 14, 2021 in Colma, California. Justin Sullivan | Getty Images DETROIT – General Motors’ U.S. vehicle sales during the second quarter were slightly lower than analyst expectations as an ongoing shortage of semiconductor chips impacted vehicle
USD/CAD reversed its direction after pushing lower earlier in the day. US Dollar Index extends rally beyond 92.50 on Thursday. WTI pulls away from multi-year highs, remains on track to post strong daily gains. After dropping to a daily low of 1.2381 during the European trading hours, the USD/CAD pair staged a decisive rebound in
The soccer world continues to seek out new revenue models amid the coronavirus pandemic, which saw the suspension of league matches in some countries, and new partnerships form to find sustainable answers in the digital space. Representing soccer clubs playing in the Süper Lig, Turkey’s primary soccer league, the Turkish Union of Clubs has partnered
Latest data released by Eurostat – 1 July 2021 Prior 8.0%; revised to 8.1% A slight drop in the jobless rate for May, which reaffirms a more steady trend in employment conditions in the euro area over the last few months. That said, there are still some caveats to the figure above, which Eurostat also
USD/JPY is a key chart to pay attention to before the end of the week Invest in yourself. See our forex education hub. Dollar strength this week has been a key theme and while the yen largely held its own in the early stages, it wasn’t to be yesterday as USD/JPY buyers overwhelmed sellers to
NEW DELHI: Gold prices edged lower on Thursday in global markets as the dollar hovered near a three-month peak, with investors looking ahead to a key US jobs report due later this week. However, the yellow metal gained in domestic markets as the government slashed the base import price of the precious metal. US private
Dollar’s rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for
A “For Sale” sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to
Gold price is building on Wednesday’s rebound from two-month lows of $1750, although the bulls seem to lack follow-through momentum, as the US dollar holds the higher ground. The risk-off sentiment remains at full steam amid growing concerns over the rapid spread of the Delta covid strain, especially in the Asia-pac region. Meanwhile, rising expectations
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Due at 0130 GMT is the Australian trade balance data for May 2021 The preliminary data for this was released in June, it showed the trade surplus hit a record high at A$13.3 billion. Iron ore exports climbed substantially. The data release today should confirm the record trade surplus. Still-rising commodity prices will give export
15 month high for the USDJPY The USDJPY is trading at a new 15 month high. The price has taken out the high from lat week at 111.109 (bid side). The price just ticked up to 111.115. The March 31 reached 110.96 and was the high until the breach last week. Ironically, the high price