The White House said on Monday that they take inflation very seriously and added that the US Federal Reserve is responsible for monitoring it, as reported by Reuters. “Inflation has not changed the view that more need to be done to reduce unemployment,” the White House added. Market reaction These remarks don’t seem to be
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GBP/JPY remains bullish, testing recent highs, eyes 155.00. Under 153.90, a deeper correction seems likely, next support at 153.40. The pound remains near the highest level in years versus the Japanese yen, hovering around 154.30. A consolidation above 154.40 would strengthen the pound, suggesting further gains. The next resistance could be seen at 154.80, before
AUD/USD rebounds after dropping to 0.7730 area earlier in the day. US Dollar Index loses traction in the American session. Risk-averse market environment limits AUD/USD’s upside ahead of RBA meeting minutes. The AUD/USD pair dropped to a daily low of 0.7731 during the European trading hours but managed to stage a rebound in the second
When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle East – days after OPEC+ said it would maintain production cuts – it sent a message about its clout and foreshadowed changes to the world’s energy maps. It was a move that had been in the works for
Yen remains generally weak in early US session today. But buying focuses against the Japanese currency has somewhat turned from Dollar to Sterling and Canadian. Both the Pound and Loonie were lifted slightly be better than expected GDP data. On the other hand, Dollar’s rally is losing some momentum. Traders are turning their attention to
Job growth boomed in March at the fastest pace since last summer, as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. Economists surveyed by Dow Jones
“In the first two months of our administration, we have seen more jobs created than any in history,” US President Joe Biden said on Friday, as reported by Reuters. Additional takeaways “There is still a long way to go.” “New economic strategy deserves the credit for growth.” “By April 7, more than 130 million households
Bitcoin (BTC) briefly hit $60,000 on April 2 in the latest installment of its slow grind back to all-time highs. BTC price taps $60,000 Cointelegraph Markets Pro and TradingView showed bullish tendencies remaining overnight for BTC/USD, with local highs of $60,110 on Bitstamp. A correction brought the pair down nearer to $59,000, circling $59,500 at
Three reasons for GBP strength in April 1. Pent up savings The UK ended its stay at home order last week. With 50% of the adult population now being vaccinated, COVID-19 infections falling, and expectations of more easing of COVID-19 containment measures the stage is set for some of the pent up savings to be
6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days. On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high). The price broke
LONDON/DUBAI/MOSCOW: OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, sources said, after the new US administration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump’s practice of calling OPEC‘s leader over oil policy. The group, which has been implementing deep cuts since oil prices collapsed in 2020 due
Dollar is generally firm today while selling focus turned to Australian Dollar, and other commodity currencies. It’s unsure what’s the exact catalyst for the selloff in Aussie. But recent pull back in copper price is likely one of the reasons at least. Euro, Yen and Swiss Franc, recover, except versus the greenback. Main focus will
Executive Sous Chef Judith Cooper carves a turkey at Rosa Mexicano’s near Lincoln Center in New York City. Alexi Rosenfeld | Getty Images Americans are beginning to return to the workforce in big numbers, and that is likely to show up in the March employment report. Economists polled by Dow Jones expect to see 675,000
Traders added around 2.2K contracts to their open interest positions in Gold futures markets on Thursday, reversing six consecutive daily pullbacks, according to flash data from CME Group. Volume, instead, went down for the third session in a row, this time by nearly 41K contract. Gold now looks to $1,760 Gold prices staged a strong
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Oil at the highs of the day Oil is up nearly 4% in an impressive climb despite OPEC+ announcing it will add more than 2 million barrels per day to the market by July. The consensus was that oil would rollover production in May and could do so in June as well. Initially, WTI crude