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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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
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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
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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
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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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