Trades to the highest level since October 1 The USDCAD moved to a new week high today but has backed off. The high price reached the highest level since October 1 in the process at 1.26613. For the week, the USDCAD traded higher and made new highs each day since Tuesday’s low (although Thursday, the
Month: November 2021
US GDP, RBN zero rate decision Next week in the US will have the Thanksgiving day holiday on Thursday, November 25 which extends into Friday, November 26, and will have traders leaving early on Wednesday, November 24. As a result, releases are limited and expectations are the same. Of note is that the Pres. Biden
Gold prices inched higher on Friday but were set for their first weekly decline in three as rising inflation fuelled bets of quicker interest rate hikes and dented bullion’s appeal. FUNDAMENTALS * Spot gold rose 0.2% to $1,861.43 per ounce by 0241 GMT, but was down 0.1% so far in the week. U.S. gold futures
Mohamed El-Erian, chief economic adviser of Allianz SE, listens during a Bloomberg Television interview on the sidelines of the Bloomberg New Economy Forum in Singapore, on Tuesday, Nov. 6, 2018. Wei Leng Tay | Bloomberg | Getty Images The Federal Reserve is losing credibility over its long-standing view that inflation is transitory, according to Allianz
In this article BABA Signage for Alibaba Group Holding Ltd. displayed at the company’s headquarters in Hangzhou, China, on Wednesday, Nov. 10, 2021. Alibaba’s annual 11.11 Singles’ Day online shopping bonanza, one that draws in hundreds of millions of people across the globe, is a more low-key affair this year as the e-commerce giant seeks
Euro’s recovery was rather short-lived as selling returns after dovish comments from ECB president. Also, Austria returned to full lockdown while Germany may follow on the fourth wave of COVID-19 infections. Yen rises broadly today as risk sentiments turn sour. For the week, Euro remains the worst performer, followed by Aussie. Sterling is still the
Central bank digital currencies (CBDC) like Russia’s digital ruble do not pose any threat to United States sanctions, according to U.S. Deputy Treasury Secretary Wally Adeyemo. In a CNBC interview on Wednesday, Adeyemo argued that the U.S. dollar “will remain the dominant currency in the world” despite the increasing popularity of cryptocurrencies. Adeyemo pointed out
USD/CAD recently reclaimed the 200-day moving average (DMA) at 1.2465 extending its rebound towards the daily Ichimoku cloud near 1.2650. A break above would clear the way for a potential rise towards the 1.2950/1.3020 area, economists at Société Générale report. Consolidation above the 200-DMA near 1.2465 is crucial to extend the advance “Daily MACD has
Little change among major currencies for the most part Besides the euro, other dollar pairs are sitting within 10 pips change of one another to start the session – exemplifying a more tepid mood currently. After a retreat in the past two days, the greenback is keeping steadier as the gains from the past week
Silver The potential for gold upside has been well discussed over recent days, but silver is also worth a look as there are some easy technicals to measure risk with and a similar fundamental story. The main driver behind gold is also behind silver Gold’s key appeal at the moment is as an inflation hedge.
Consumers continue to get relief from rising fuel prices as oil marketing companies (OMCs) have kept pump prices of petrol and diesel unchanged post revision of duties by the state governments on Diwali eve. Accordingly, petrol and diesel prices remained static for the 15th consecutive day on Friday, under the daily price revision mechanism followed
Kent Weakley | Getty Images Rents for single-family homes increased 10.2% nationally in September year over year, up from a 2.6% rise in September of last year, according to a new report from CoreLogic. Improved job growth and sky-high prices in the for-sale housing market added to already strong demand for single-family rentals fueled by
In this article M The entrances at Macy’s are decorated with Christmas decorations on December 04, 2020 in New York City. Roy Rochlin | Getty Images Entertainment | Getty Images Macy’s on Thursday reported fiscal third-quarter earnings and sales that topped analysts’ expectations, leading the department store chain to raise its full-year forecast ahead of
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New Zealand Dollar trades mildly higher today, after an RBNZ survey shows firm expectation of more rate hike ahead. On the other hand, Canadian Dollar weakens broadly as WTI crude oil’s pull back extends below a near term support level. Overall, Sterling and Dollar remain the strongest ones for the week. Euro is recovering slightly
Spot gold prices moderated on Thursday back to the $1860 level, despite a softer dollar and yields. Gold has been tracking US inflation expectations more closely recently, which fell back on Thursday. Spot gold (XAU/USD) prices fell 0.5% on Thursday, despite a weaker dollar and softness in US bond yields. Prices topped out at $1870
The price of the AUDUSD trades mid range in the up and down day The AUDUSD traded to a new low yesterday for the month of November, closing at the lowest level since October 1 (the close yesterday came in at 0.7264). Today, the low price extended down to a new low going back to early October at 0.72488.
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