We expect the Fed to turn more upbeat over the economic outlook at this week’s meeting. Yet, the economic improvement is not yet strong enough for any change in the monetary policy measures. As such, the Fed would leave the Fed funds rate target at 0-0.25%. On QE, the central bank would also leave the
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By James Attwood and Yvonne Yue Li Industrial metals from copper to aluminum to iron ore have rallied to the highest level in years. The reasons for their gains are plentiful: Copper — critical for everything from electrical wiring to motors and thus a bellwether for the global economy — broke out of its recent
Two picks from MUFG Research AUD/USD is up 41 pips to 0.7748 today. Recently, they suggested buying AUD/USD at 0.7620 with a target at 0.7895 and a stop at 0.7460. They’re reiterating the trade this week. “The trade idea has lost some upward momentum over the past week reflecting in part some concern that the
Palladium extended its blistering rally to an all-time high within striking distance of $3,000 on Friday on supply concerns and bets for improving demand, while gold pulled back on strong US economic data. Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain. Many analysts
Forex news for North American trading on April 23, 2021. The USD is ending the day as the weakest of the major currencies. The EUR was the strongest followed by the AUD. The green back seemed to have benefitted from rising stocks which pushed funds out of the “relative safety of the USD” (or that
Ritesh Jain Global Macro Investor & One of Top 3 Global LinkedIn Influencers on Economy and Finance, Mumbai He is a trend watcher, Global Macro investor and Blogger at worldoutofwhack.com. He has over 20 years of experience in financial markets, bonds, equities, gold, and derivatives. He muses about global macro investment opportunities, economics, business, and
Dollar ended as the worst performing one last week as near term bearishness persisted. Q1’s rebound should have completed and the main question is whether it’s ready for new lows. That is, indeed, in favor unless overall risk-off sentiments were choked off by some unexpected events. The forex markets were mixed elsewhere, however. Euro and
US President Joe Biden will attend the G7 meeting in June in the UK. A White House official says at the meeting the US will urge its allies to increase pressure on China over the use of forced labor in its northwestern Xinjiang province. Said also the meeting will focus on health security a synchronized
LONDON: OPEC is encouraging its members to engage with the US administration over a proposed US bill against the group, known as NOPEC, and to explain that passing the bill could put at risk US interests abroad. A US House panel passed a bill this week to open the Organization of the Petroleum Exporting Countries
While US stocks tumbled overnight, Asian markets are just mixed. Gold and oil are stuck in range too, while the bigger move is found in bitcoin. The forex markets are also generally staying in tight range. Yen is currently the strongest one for the week, followed by New Zealand Dollar and Euro. But Australian Dollar
There is no alternative to stocks As I wrote at the start of the day: Yesterday’s capital gains panic has given way to the question: What else are you going to do with your money? TINA — there is no alternative. Bonds are trash and paying 40% in capital gains is better than paying 0%
Domestic gold and silver futures eked out mild gains at the end of a volatile session on Friday supported by weakness in the US dollar although caution prevailed among traders ahead of a key Federal Open Market Committee (FOMC) meeting due next week. MCX gold futures, due for a June 4 delivery, quoted stronger by
Fresh selloff in seen in Dollar as we enter into US session. Euro was lifted earlier today by strong PMIs. But it could be taken over by Yen before weekly close. Mild risk aversion in Europe is keeping Yen afloat. US futures are mixed at the time of writing, but looks vulnerable. As for the
Mainichi Shimbun reports on the matter This will add to the state of emergency measures set to be announced for Tokyo, Osaka, Kyoto, and Hyogo, which will run from 25 April to 11 May. The formal announcement on that should be made by Japanese PM Suga later in the day. Invest in yourself. See our
MELBOURNE: Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India’s raging second wave of COVID-19 cases kept a lid on gains. Brent crude futures rose 21 cents, or 0.3%, to $65.61 a barrel at