Sterling continues to trade as the strongest one for the week, as focus turns to UK retail sales and PMIs. Upside surprises there could give the Pound another lift. Australian Dollar is keeping itself close as second strongest for now. On the other hand, Yen and Swiss France are staying as the weakest, followed by
Treasury Secretary Janet Yellen on Thursday said a large stimulus package is still necessary to get the economy back to full strength, despite momentum suggesting that growth is off to a faster start than anticipated in 2021. In a CNBC interview, the lead economic official in the Biden administration said the $1.9 trillion proposal could
Gold refreshes three-month low, defies the previous day’s bounce off $1,768. Risks dwindle following downbeat US data, fears of inability to tame the virus strains. Absence of major update on the US covid relief stimulus also challenges the mood. Treasury Secretary Yellen reiterates the need for stimulus package, US activity numbers eyed. Gold stands on
Dow closes lower for the 1st time in 4 days The major US indices close lower across the board. The S&P and NASDAQ extended the losing streak to 3 days. The Dow meanwhile joined those indices after 2 consecutive days of record closes. The indices tried to rally in the last hour but reversed lower into the close. The S&P and NASDAQ 3 days
Retail sales from Australia for the first month of the new year, flash reading Up 0.6% m/m expected +2.0% m/m prior -4.1% In seasonally adjusted terms, +10.7% in January 2021 compared with January 2020. That’s an encouraging y/y rise. This flash read is, of course, subject to revision. The final January figures will be published
By John KempLONDON: Saudi Arabia’s oil minister has called for a cautious approach to raising production, even as prices surge and many traders anticipate an increasingly severe shortage of petroleum later this year. “We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The
Dollar is back under some selling pressure, starting in European session, and intensifies after poor job data. Weakness in the greenback is dragging down Canadian Dollar as the second worst performing, while Yen follows as third. Sterling is once again leading the way higher, followed by Aussie and Kiwi. Euro and Swiss France are mixed,
Consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021, according to a government report Wednesday. Economists surveyed by Dow Jones were expecting a rise of just 1.2%. Excluding autos, sales rose 5.9%, also far ahead of the 1% estimate in a
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An Israeli start-up that aims to establish a digital ledger technology-based digital securities exchange in the country has received its first, encouraging go-ahead from the Israel Securities Authority. In an application letter filed with the regulator on Feb. 14, Simetria had sought the ISA’s approval to operate a digital bulletin board as a preliminary step in
The pound continues to be one of the best performing currencies this year which has helped to lift cable back to within touching distance of the 1.4000-level for the first time in almost three years. However, the latest UK press reports suggest that the UK government will adopt a very cautious approach to easing restrictions
oil market. More than 4 million barrels a day of output — almost 40% of the nation’s crude production — is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world
Buyers show their mettle on a bounce from the 200-hour moving average The pair was caught in a near-term battle to start the session but as the dollar weakened, buyers capitalised on that with the shove lower in EUR/GBP also exacerbating gains in the pound as cable jumps towards 1.3950 on the session. The high
Risk keeps in a more tepid spot so far today The market is seeing a bit of a mixed mood with Treasuries a little lower alongside stocks, while the dollar is also slightly weaker across the board for the time being. S&P 500 futures are down by ~0.4%, Nasdaq futures down ~0.7% and Dow futures
Australian Dollar strengthens mildly in Asian session today, as supported by another set of solid job data. But overall, trading in the forex markets is subdued. Dollar is taking a breather as FOMC minutes provided no special inspirations. The greenback is, nonetheless, staying as the strongest one for the week, together with Sterling. Yen, Swiss
A contractor works on the basement of a home under construction in the Toll Brothers Regency at Palisades community in Charlotte, North Carolina. Luke Sharrett | Bloomberg | Getty Images Buyer demand for newly built homes continues to surge, and that is keeping builder confidence high even as building material prices climb. Builder sentiment rose