British 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
Read MorePound Trades Near 2-Yr High Against Dollar on Covid-19 Vaccine Induced Optimism
The British pound is witnessing revived buying interest as multiple analysts point to the country’s vaccine launch as the primary reason for the demand. At the time of writing this article, the pound to dollar exchange rate has rebounded to
Read MoreArgentina Economic Outlook for 2021 as Peso Hits New All-Time Low
The Argentine Peso recorded a historical low of 86.3870 against the US dollar Friday, raising concerns about country’s economy outlook. Before we assess the situation, let us have a look at the recent economic data: The country’s inflation rate surged
Read MoreCanada Housing Starts Miss Estimates for December
According to the Canada Mortgage and Housing Corporation (CMHC), housing starts decreased to 228,000 units in December, from 261,000 units in the earlier month and missed the 230,000 units anticipated by economists. However, the housing starts trend increased slightly to
Read MoreUS Capacity Utilization Rate Rises to 74.5% in December
The euro dollar fell against the greenback Friday despite the release of poor retails sales data from the US. Even the Empire State Manufacturing Index was below analysts’ expectations. The expectations of another stimulus package worth $1.90 trillion, including direct
Read MoreRussian Ruble Declines Further, After Losing 18% in 2020
The Russian ruble lost further ground to trade at 74.60 against the greenback, against the backdrop of sluggishness in oil markets and worries over fuel demand. The benchmark Brent crude oil declined from more than a 10-month high of $56.36
Read MoreGerman Industrial Production Manages to Grow Marginally In November
A plethora of economic data published from the euro zone Friday indicated overall weakness in economic activity, despite some bright spots. Resurgence in Covid-19 has worsened expectations for the first-quarter of this year, although market expects sharp rebound in the
Read MoreEurozone Private Sector Activity Contracts in December
A plethora of economic data (December) released today indicated another month of decline in the economic activity in the Eurozone, albeit the pace of contraction declined slightly. Despite the weak economic data, the EUR/USD pair rose from a low of
Read MoreUS Jobless Claims Declines, but Concerns Remain
The euro dollar declined against the greenback on the first trading day of 2021 following the release of lower than anticipated unemployment claims in the US. But for the weak decline in natural gas inventories, the greenback would have appreciated
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