Forex news for Asia trading on Monday 6 September 2021 The USD showed patchy strength in Asia trade to open the week. Trading was thinned out a little with the long weekend in the US and Canada (markets in the US and CAD will be closed Monday). USD/JPY is trading just a little higher, unlike
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Gold prices hovered on Monday below a 2-1/2-month peak after a disappointing US jobs data signalled that the Federal Reserve could push back the timeline for tapering stimulus measures, bolstering bullion’s appeal as an inflation hedge. FUNDAMENTALS Spot gold was steady at $1,826.65 per ounce, as of 0048 GMT. In the previous session, prices hit
While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and Australian Dollars are the strongest ones for the week. Canadian Dollar is lagging far behind
A home, available for sale, is shown on August 12, 2021 in Houston, Texas. Brandon Bell | Getty Images Trends in home prices and consumer expectations that were part of data releases Tuesday pointed to more inflationary issues on the horizon for the U.S. economy. The S&P/Case-Shiller index, which measures home prices across 20 major
The bulls were charged on the NFP miss and central bank convergences. AUD/USD bulls are up against a wall of resistance on RBA week. The doves are swooping down on the Federal Reserve and hawks are gathering pace elsewhere, such as at the European Central Bank. Convergence between central banks is knocking the air out
Bitcoin (BTC) should cost at least $55,000 per coin according to one metric measuring its so-called “supply shock.” In a tweet on Sep. 5, analyst Willy Woo highlighted what he added is a “conservative” price estimate for BTC/USD. Bitcoin price plays catch-up with metrics While Bitcoin has still not established $50,000 as firm support, on-chain
100 hour MA and swing level at 130.169 The EURJPY has been marching higher since bottoming on August 20. The price had been up for 9 of the last 10 trading days coming into today. The price is currently lower after a double top near 130.736. The subsequent fall took the price below a swing area defined from highs on Wednesday, a few lows
An official at China’s Ministry of Industry and Information Technology warned of risks posed by network security issues such as network attacks and network intrusions. Flagged increased regulation to protect on issues such as the collection of personal information. The report comes via Bloomberg, link (may be gated) and needs to be read in light of the
PERAK, MALAYSIA/SINGAPORE: In a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented cows graze in overgrown areas of the estate. A coronavirus pandemic-induced labour crunch has forced managers of the 2,000-hectare estate in Slim River to find creative ways to
A Panda Express restaurant displays a “Now Hiring” sign in Tampa, Florida, June 1, 2021. Octavio Jones | Reuters U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according to a report Wednesday from payroll services firm ADP. Private payrolls rose just 374,000 for the
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Retraced the entire August move to the downside now The AUDUSD has risen 48 Alaska trading days. Over that time period, the move down in the month of August from 0.74259 to 0.71059 has been completely retraced (and then some). The price action today has taken the price above the August 5 high at 0.74259. Once broken, the price has
China and Hong Kong buy over 50% of Brazilian beef exports. Brazil discovered two cases of “atypical” mad cow disease in two separate domestic meat plants ( ”atypical” means the disease develops spontaneously, not related to eating contaminated foods) only the 4th and 5th cases of atypical mad cow disease detected in Brazil in 23 years
NEW YORK: Oil prices fell on Friday after a weaker than expected US jobs report indicated a patchy economic recovery that could mean slower fuel demand during a resurgent pandemic. Losses were capped by concerns that US supply would remain limited in the wake of Hurricane Ida, which cut production from the US Gulf of
U.S. economist Joseph Stiglitz believes now is a good time to rewire the U.S. economy, arguing that “we shouldn’t let a crisis go to waste.” The former senior vice president and chief economist of the World Bank said on Thursday that the coronavirus pandemic has highlighted how the economic system isn’t working, referencing inequality, the
Bloomberg’s senior commodity strategist Mike McGlone has doubled down on call for six-figure Bitcoin (BTC), arguing that the first-born cryptocurrency is well on its way to becoming a global reserve asset that complements the United States dollar. The September edition of Bloomberg’s Crypto Outlook called $100,000 BTC and $5,000 Ether (ETH) the “path of least