Forex news for North American trading on June 28, 2021. US rates went lower today with the 10 year yield moving down about 4.6 basis points (the 30 year was down -5.1 bps). That took the yield a few basis points below the 1.5% level. The most recent high reached 1.77%. The most recent swing
Lower swing area between 153.455 to 153.53 The GBPJPY has extended to a new session low and in the process is testing a lower swing area between 153.45 and 153.53. There were a number of swing lows going back to the week of May 10 and May 17 (on the four hour chart below). A break below that
LONDON: Oil prices slipped on Monday after hitting more than 2-1/2 year highs earlier in the session, as a spike in COVID-19 cases in Asia put a brake on their rally before this week’s OPEC+ meeting. Brent was down 33 cents, or 0.4%, at $75.85 a barrel at 1326 GMT, after climbing to $76.60, its
Dollar is pick up some upside momentum as markets enter into US session. Overall trading is rather subdued though. Economic calendar is near empty today while central bankers’ comments are largely ignored. Sterling is currently a firmer one together with the greenback. Swiss Franc is the worst performing one, together with commodity currencies. Technically, as
Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Scott Olson | Getty Images Under normal circumstances, the recent spate of high inflation numbers would be cause for high alarm. But in the present Covid-era context, they were confirmation in some quarters that the inflation picture is doing little more
Thomas Barkin, President of the Richmond Federal Reserve Bank, said on Monday that he is pretty optimistic about the labor market and added that he expects to see progress “in relatively short order,” as reported by Reuters. “The Fed has had substantial further progress against the inflation goal,” Barkin further noted and said he wants to
BTCChina, the operator of China’s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports. The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese news agency The 21st Century Business Herald recently reported. According to the report, ZG.com is a completely independent
Latest data released by the SNB – 28 June 2021 Domestic sight deposits CHF 631.0 bn vs CHF 631.4 bn prior Invest in yourself. See our forex education hub. Prior week’s release can be found here. Not much change in terms of overall sight deposits, hinting that the SNB isn’t being overly active in intervening
France’s CAC down modestly The major European indices are ending the week mostly higher on the day. The provisional closes are showing: German DAX, +0.1% France’s CAC, -0.1% UK’s FTSE 100, +0.4% Spain’s Ibex, +0.25% Italy’s FTSE MIB, +0.35% For the week, the major indices are also higher: German DAX, +1.0% France’s CAC, +0.85% UK’s
NEW DELHI: Gold prices inched higher on Monday as the US dollar eased and tamer-than-expected US inflation data allayed fears of an early monetary policy tightening by the Federal Reserve. The yellow metal remained firm with mild gains in the domestic market. US consumer spending paused in May, while the personal consumption expenditures price index,
Yen trades mildly higher in quiet Asia today, while trading is also subdued in other markets. Sterling is trying to recover some of last week’s losses, but momentum is relatively limited. On the other hand, Swiss Franc and Euro are turning softer, partly due to retreat in crosses against the Pound. Overall, the economic calendar
Investors trimmed their open interest positions by around 3.3K contracts at the end of last week, as per advanced prints from CME Group. On the flip side, volume reversed three consecutive daily drops and increased by nearly 122K contracts. WTI clinches new 2021 highs The rally in the West Texas Intermediate remains well and sound
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Comparisons with 2020 are, of course, showing large base effects due to pandemic impacts a year ago. Nevertheless – the surging price of raw materials is acting as a bit of a brake on magins and thus reported profitability. Later this week we begin to get more recent data for the sector with PMIs from
Price dipped below the March low at $776 The price of lumber has moved to the downside today and in the process is moving away from its 200 day moving average at $867.67 (green line in the chart below). It is also falling below the 61.8% retracement of the move up from the April 1 low at $817.60.
Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)
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What you need to know on Monday, June 27: The dollar advanced on Friday on the back of higher US PCE inflation, which rose in May 3.4% YoY, its highest reading in almost three decades. Gains however were modest and the dollar ended the week with modest losses. US stocks soared, with the Nasdaq and