Following a weak first quarter, the strength in EURUSD has gathered momentum. The pair is the second strongest among majors quarter-to-date. A more upbeat economic outlook, heightened inflation forecasts and expectations of ECB’s tapering are key driving forces of the recent rally. Indicators Pointing to Stronger 2Q21 Leading indicators have pointed to an upbeat 2Q21.
A slight increase in mortgage interest rates was enough to tank refinances and bring down overall demand. Total mortgage application volume fell 4.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased
In this article DKS Mannequins stand next to merchandise displayed for sale at a Dick’s Sporting Goods store in West Nyack, New York. Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods reported Wednesday fiscal first-quarter earnings and sales that topped analyst estimates, saying kids returning to team sports boosted sales. Dick’s also raised
What you need to know on Thursday, May 27: The American dollar edged lower at the beginning of the day but ended it with gains against most of its major rivals. Stocks seesawed between gains and losses while US government bond yields remained subdued, somehow indicating that speculative interest is finally taking note of US
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NZD/USD keeps just above 0.7300 for now but isn’t running away with it Invest in yourself. See our forex education hub. The kiwi is the best performing major currency so far today after the RBNZ was more hawkish than expected, with forecasts projecting a rate hike in 2H 2022. That has seen the kiwi shoot
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NEW DELHI: Gold prices held firm near a four and a half month high on Wednesday as a drop in US Treasury yields and a weaker dollar supported the safe-haven metal. Back home, precious metals followed the global trends, gaining in early trade. The dollar index was pinned near a 4-1/2-month low against its rivals,
The RBNZ delivered a less dovish message in May than a month ago. While leaving all monetary policy measures unchanged, it upgraded the inflation forecast and revised lower the unemployment rate. The central bank also pushed forward the first rate hike to 3Q22. Kiwi rallied to highest since February after the news. While the uncertainty
In this article JWN A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom reported Tuesday better-than-expected first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear
The US dollar is lurching lower with some key developments pointing to further weakness over the short-term such as USD/CNY – a key currency pair not just for Asia but for G10 also – breaking key technical support at 6.4000 with no obvious sign of opposition from the Chinese authorities, economists at MUFG Bank report.
The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for
The sellers could not get below the downside targets, leading to a bounce back Earlier today, the GBPUSD sellers made a play against the 200 hour MA (green line – see earlier post HERE). Sellers were leaning. The price did go down, but the price could not extend below the next target area at 1.4100
I spoke with BNNBloomberg about the loonie [embedded content] 1) Why CAD is the best-performer this year? The Canadian dollar is the top performing currency in the world this year and it’s not hard to see why. We’re at the start of a new economic cycle, commodities are booming and the US is one of
HANOI/BEIJING: Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. “We’re not a huge believer in a super-cycle now. You’ve started to see some central bank starting to taper bond buying and if they are not tapering, they’ve started
Euro surges broadly today, while German DAX and Stoxx 600 hit new record highs. Strong German business climate reading gave sentiments a strong lift. For now the common currency is only out-performed by New Zealand Dollar, and followed by Swiss Franc. On the other hand, positive market sentiment makes Yen the weakest one, followed by