US New Home Sales Miss Forecasts by Wide Margin

The greenback remained range bound against the yen following the release of mixed economic data from the US. While the unemployment claims were far below expectations, new home sales data missed forecasts. Furthermore, the crude oil inventories data also failed

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UK Economy Expanded 16% q-o-q in 3Q20 as Public Sector Net Borrowing Rises to Record High

The pound remained range bound against the greenback following the release of mixed economic data from the UK. While the final GDP and revised business sentiment data was better than expectations, the sharp increase in public sector borrowing and widening

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ING Forecasts Double Dip For German Economy

The euro dollar remained range bound against the yen despite the release of better than anticipated German producer price index (PPI) data, improvement in business environment (Ifo survey) and higher than anticipated current account surplus. The gloomy outlook issued by

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Yen Hits 5-Week High Against Greenback as China Reports 20-Month High Industrial Output

The Japanese yen strengthened against the greenback to hit a one-and-a-half-month high of 103.65 yesterday, aided by overall US dollar sell off as the US FDA issued emergency use license for Pfizer-BioNTech Covid-19 vaccine. Even the industrial production data from

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Russian Ruble Hits Four Month High on Lower-than-anticipated Q3 Contraction

The Russian ruble hit closed at 73.02 Friday, a level unseen since August 19, 2020, against the backdrop of increasing bullish view of global economic rebound due to availability of Covid-19 vaccine, additional US stimulus package and mitigation of geopolitical

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Euro Plummets Below 0.90 Against Pound on Weak Economic Data, Covid-19 Concerns

The EUR/GBP pair plummeted below 0.9000 levels, from a high of 0.9078 Wednesday, as optimism increased over post-Brexit trade discussions. Investors believe that the meeting between the UK Prime Minister Johnson and the EU Commission chief Van der Leyen will

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Canadian Dollar Hits 2-Year High Against Greenback

Canadian dollar rallied 15% against the US since March, hitting a two-year high of 1.2792 against the greenback. Canadian economy added greater than anticipated number of jobs in November, as per data provided by Statistics Canada, though the rate of

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Aussie Rallies on Solid Trade Surplus Data for October

The Aussie rallied against the greenback following the report of better than anticipated trade surplus for October. The overwhelmingly positive September quarter GDP data also fueled the AUD/USD rally, which moved from a low of 0.7395 to a high of

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Spanish Manufacturing Sector Contracts in November

The EUR/USD pair turned volatile after the release of mixed economic data from the Europe. Following the release of weak Spanish manufacturing PMI (purchasing managers index) data that indicated contraction of the manufacturing sector, the euro dollar declined to 1.1920

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US Dollar Records 7-Month Low as Covid-19 Infections Surge

The dollar index declined 0.2% to reach 91.8% Friday, the lowest level since April 29th, paving way for further drop as a weak job market increased expectation of additional monetary easing or government stimulus. Unemployment claims were greater than anticipated

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