China Manufacturing Contracts for Second Successive Month
The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021 from 49.6 a month earlier, falling short of market expectations of 49.7. The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021
Read MoreRussian Ruble Strengthens to 16-Month High as Crude Demand Surges
The Russian ruble rose to a 16-month high in the final week of October, trading at 70 per USD, after Russia’s central bank hiked its main policy rate by 75 basis points (bps) to 7.5 percent, the most since June
Read MorePound Holds Steady On Optimistic Economic Outlook By Finance Minister Rishi Sunak
At the end of October, the British pound traded at $1.373 per dollar as investors absorbed the UK’s annual budget and expenditure review amid worries about inflationary pressure and the prolonged energy crisis, according to Bloomberg. Britain’s economy is on
Read MoreNew Zealand Trade Deficit Widens in September
Despite news of a larger-than-expected trade deficit in September, the New Zealand dollar continues to gain ground versus the Eurodollar and other major currencies. It is noteworthy that imports expanded at a faster pace than exports throughout the period under
Read MoreEuro Plunges as Bundesbank Predicts German Economic Growth to Miss Prior Outlook
The Eurodollar plunged against the greenback today following the release of poor German Ifo business climate index data. The Eurodollar sell-off also intensified with the release of the Bundesbank report stating that the earlier economic growth outlook issued in June
Read MoreUS Dollar Strengthens On Fed Chair Powell’s Confirmation of ‘Tapering’ by November
Due to the hawkish remark made by US Federal Reserve Chair Jerome Powell on the Fed’s bond-purchasing program on Friday, the dollar gained strength versus the pound. Another factor contributing to the strengthening of the dollar was a slew of
Read MoreCanadian Dollar Strengthens to 3-Month High on 18-1/2 Year High Inflation
Because of the overall weakening of the dollar and the fact that oil prices have stayed around multi-year highs, the Canadian dollar strengthened below 1.24 per US dollar in the second half of October, approaching levels that have not been
Read MoreUBS Analyst – Aussie Has Further Upside Left
According to experts, the Australian Dollar has been one of the best performing global currencies over the last week, and the rise is likely to continue. The Australian Dollar has gained ground versus all of its G10 counterparts during the
Read MoreAustralian Dollar Heading for 0.7620 Against the US Dollar
The Australian Dollar is the best-performing major currency at the dawn of the new week, a trend that corresponds with increased freedoms in Sydney, and which some foreign exchange experts believe will continue to rise. “The Australian dollar is outpacing
Read MoreUS Inflation Hits 13-Year High, While the Yen Records 3-Year Low
With inflationary pressures remaining strong in September, the dollar index recovered some of its earlier losses on Wednesday to trade at 94.5. This is the highest level since September of 2020, increasing expectations that the Fed would tighten policy sooner
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