Ruble Strengthens On Series of Better Economic Data
The Russian ruble has been recovering for the past few weeks to trade at around $74, after hitting a fresh yearly low of $76.50 on January 29, backed by robustness in oil markets and hints that fresh western sanctions will
Read MoreCanadian Dollar Hits One-Week Low On Rising Deficit & Crude Price Declines
The Canadian dollar recorded a one-week low of 1.27 against the greenback Friday, against the backdrop of a decline in crude prices and worries about a surge in global bond returns, even though the yields of bonds denominated in Canadian
Read MoreGoldman Sachs Predicts Pound to Strengthen Considerably Against Swiss Franc
Currency strategists at multinational Wall Street giant Goldman Sachs has stated that the underlying momentum in the Pound is robust and is strengthening because of “first mover advantage” with respect to Covid-19 vaccination drive. The pound’s rally this year has
Read MoreHSBC Analysts Forecast Canadian Dollar to Hit 1.6350 Against the Pound
The GBP/CAD currency pair lost ground Friday, but the underlying bullishness on chart has encouraged Scotabank analysts to study the odds of the pair moving into a higher band in the forthcoming weeks, even though predictions from HSBC indicate that
Read MoreAnalysts Forecast Pound to Hit 1.45 Against Dollar in 2021
According to Paul Dales, an analyst at research firm Capital Economics, the pound could rebound this year to levels seen before Brexit referendum. Dales believes that an improvement in risk sentiment across the globe and a comparative increase in the
Read MoreAnalysts issue Bullish Outlook for Canadian Dollar
The Canadian dollar, a commodity currency, is strengthening against its peers as the outlook for crude oil has turned bullish. Almost all commodity analysts believe that Brent crude will hit $70 per barrel, a forecast which supports the case of
Read MorePound Consolidates Near Three Year High Against the Dollar
The British pound continues to hover around three-year high of $1.3850, aided by chances of a speedier economic rebound in the UK due to the roll out of Covid-19 vaccine and enormous stimulus, in addition to fading possibilities of negative
Read MoreRussian Ruble Rebounds from 2-Month Low as Services, Mfg. PMI Records Robust Increase
The Russian ruble rebounded slightly after hitting a two-month low of 76.20 against the greenback last week as Brent crude gained momentum to record a yearly high of $59.523 per barrel against the backdrop of a decline in the US
Read MoreBritish Pound Rebounds as BoE Maintains Interest Rate
The Bank of England left its benchmark interest rate unchanged at a historical low of 0.1% in a unanimous decision, while deciding to continue with its bond purchase program in the policy meeting conducted earlier today. The monetary policymakers pointed
Read MoreCovid-19 Restrictions Caused US Personal Spending to Decline in December
A series of mixed economic data ensured a range bound movement of the greenback against other major currencies Friday. However, the equity markets ended in red against the backdrop of rising worries about GameStop issue. The video game retailer’s share
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