Weak Economic Data, Geopolitical Worries Push Russian Ruble to 5-Month Low
The Russian ruble faced heavy sell off last week, with the currency breach $77 mark for the foremost time since November 2020 on increasing geopolitical problems. Specifically, NATO has warned about Russian military build-up along eastern Ukraine. In the meantime,
Read MoreCanada Economy Gains Momentum as Ivey PMI Hit 10-yr High
The Canadian dollar eclipsed other top currencies Wednesday and continued to stay as the leader amongst the bouquet of major currencies this year after the data published by Statistics Canada indicated that the economy is turning stronger in spite of
Read MoreUS Dollar Index Ends the Week at 5-Month High
The dollar index remained almost unaltered at 92.90 in a lackluster trading session on Good Friday, reflecting levels which were not seen since the beginning of November and is on track for its third successive week of positive close as
Read MoreUS Dollar Down as Pending Home Sales Decline for the First Time in Nine Months
Private enterprises in the US added 517,000 jobs in March, compared with economists’ expectations of 550,000 job additions. The reported figure reflects the largest rise in private payrolls since October 2020. Service sector added 437,000 jobs, aided by 169,000 job
Read MorePound Hits Seven Week Low as Consumer Price Inflation Weakens in February
The pound declined to seven-week low of 1.3677 against the greenback on intense selling pressure, before regaining some of the lost ground to trade at about $1.37 after the recent data indicated that the UK’s inflation rate unexpectedly declined. Consumer
Read MoreTurkish Lira Strengthens on Strong Rate Hike & Positive Economic Data
The Turkish lira strengthened to 7.20 per US dollar after the central bank of Turkey (Türkiye Cumhuriyet Merkez Bankası, TCMB) upwardly revised interest rates by 200 basis points to restrict inflation, while economists had projected only a 100 basis points
Read MoreUS Housing Starts Hit 6-Month Low as 10Y Bond Yield Hits 13-Month High
The US Treasuries with 10-year maturity period recorded a yield of 1.65% against the backdrop of Fed monetary policy decision scheduled later today. The market do not anticipate any key alterations in the feds fund rate or quantum of asset
Read MoreStrong Job Additions Propel Canadian Dollar to Two Week High
The Canadian dollar breached two-week high of 1.25 per US dollar in mid-March, against the backdrop of upbeat labor market related economic data. Specifically, the jobless rate declined to 8.2%, reflecting the lowest level in 11 months as the economy
Read MoreJapanese Yen Hits 9-Month Low Against US Dollar
The Japanese yen declined 0.376 points or 0.35% to trade at 108.85 against the greenback Wednesday, reflecting a 9-month low as the clearance of $1.90 trillion stimulus package proposed by the US President Joe Biden has sparked optimism about the
Read MoreBMO Capital – Australian Dollar to Breach 0.80 Versus US Dollar
The Aussie’s valuation saw another round of upward revision from analysts following the report of historically high trade surplus data last week, but lackluster global equity markets seem to be limiting further short-term uptrend in the currency. Financial markets remains
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