Dollar’s broad based rally continues in Asian session today and looks set to have a strong close for the week. Talking about weekly performance, Yen is following the greenback as the next strongest. New Zealand Dollar and Australian Dollar are competing for the worst performing spot. European majors are mixed with Euro, Sterling and Swiss
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Tough to bet against the greenback as the weekend looms With little key risk events to work with and barring any major headline surprises, the market is likely to keep with the post-CPI momentum after the break yesterday. Treasuries are keeping lower (higher yields) again today upon the return of the bond market and the
Daily thread to exchange ideas and to share your thoughts The dollar is keeping a little firmer as we look towards the session ahead, keeping in a good spot from a technical perspective across the board. EUR/USD continues to track lower to 1.1440 while GBP/USD is down to fresh lows since December at 1.3360. The bond market
NEW DELHI: Gold prices edged marginally lower on Friday, in tandem with global mood, but high inflation kept the downside capped. Analysts believe the global inflation worries will continue to support gold prices in the near term. Gold futures on MCX were trading lower by 0.23 per cent or Rs 111 at Rs 49,105 per
U.S. President Joe Biden speaks on the bipartisan infrastructure deal at the Port of Baltimore in Baltimore, Maryland, on Wednesday, Nov. 10, 2021. Samuel Corum | Bloomberg | Getty Images As government economists work to find ways to combat soaring inflation and ease supply chain disruptions, President Joe Biden is leaning on his ability to
The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Commercial production and deliveries of Lordstown Motors‘ first product, an all-electric pickup called the Endurance, are once again being pushed back, the company said
Moody’s Investors Service is out with its latest assessment of the Asia-Pacific economies, offering a stable outlook on the region. “Most will rebound, helping to support debt stabilisation at higher levels than pre-pandemic,” Moody’s said in its report. Market reaction The Asian stocks are a big bag in the final trading day of the week,
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Selloff in Canadian Dollar gathers pace today as WTI oil price is quickly heading back towards 80 handle. Other commodity currencies are also weak, with Aussie weighed down by poor job data. On the other hand, Dollar is staying firm without clear sign of loss momentum yet. Yen is also not performing too bad, as
The EURUSD sellers push through the intraday floor The EURUSD has been mired in a narrow range for the London/US session. The highs a stalled near 1.1476 which was near the closing level from yesterday. The lows stalled between 1.1453 and 1.14553. That represents only a 23 pip trading range over the 2 trading sessions. The pair has now broken to a
Growth forecasts from Goldman Sachs Goldman Sachs sees the global economy growing 4.5% next year as the recovery from covid-19 continues. That’s in line with estimates but the composition diverges. In particular, they see the UK growing at 5.3% compared to the 5.0% consensus while they forecast China at 4.8% compared to 5.5% expected. The
inflation has been bad news for gold. Now it’s giving the metal a shot in the arm. While bullion is often bought as a way to protect wealth when consumer prices are climbing, this year’s inflation had weighed on the metal as investors bet that it would spur the Federal Reserve to scale back huge
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images The IRS announced higher federal income tax brackets and standard deductions for 2022 amid rising inflation. The consumer price index surged by 6.2% in October compared to the previous year, the biggest jump in more than three decades.
In this article OPEN Eric Wu, founder and chief executive of Opendoor, a start-up company that flips homes, at their San Francisco headquarters, May 18, 2017. Christie Hemm Klok | The New York Times A week after Zillow announced its sudden departure from the home-buying market, rival Opendoor reported third-quarter results that topped estimates and
AUD/USD extends its sharp decline for three days, from 0.7430 to 0.7300. Australian Employment Change dropped 46.3K, and the unemployment rate jumped above 5%. AUD/USD Technical outlook: A break under 0.7300 exposes the September 30 low at 0.7169. The Australian dollar slides for the third consecutive day, down 0.25%, trading at 0.7309 in the New
E-commerce giant JD.com took payments in China’s central bank digital currency (CBDC) at a massive local shopping event. JD.com accepted digital yuan (e-CNY) for payment on its e-commerce application for the Singles Day promotion period which began on Oct. 31 and ended on Nov. 11, the firm confirmed on Thursday. Singles Day is an unofficial
Dollar stays generally firm in Asian session, following the post CPI rally overnight. Yen is some what helped by the selloff in stock markets despite rebound in US yields, and remains firm except versus the greenback. On the other hand, Australian Dollar tumbles sharply following much worse than expected job data, and leads other commodity
XAU/USD surged on the hot US inflation data: A glance at the chart shows just above the $1840 level is a likely stop los placement area and may be something to watch in the session ahead. Excuse my rough and ready tech analysis, I’m sure the ForexLive people can do better in the comments! Invest