Australian Dollar Hits 5-Week Low as Prospects of Iron Ore Price Recovery Fades
Increasing worries about deteriorating global growth, as well as a drop in the price of iron ore, Australia’s single largest export revenue earner, caused the Australian dollar to record a low of $0.72 earlier today, the lowest level since August
Read MoreCanadian Dollar Hits One-Month High Against Yen on Rebound in Home & Crude Prices
The Canadian dollar hit a one month high of 87.55 against the Japanese yen following the release of solid economic data from Canada and crude oil price rally. The CAD/JPY pair’s uptrend was also stoked up by the report of
Read MoreUS Dollar Strengthens as Fed Signals Tapering as Early as November
Sculpting up turbulent trade on Wednesday, the world stock indexes reduced their gains in late-day trading and the dollar gained as the Federal Reserve said that it is on track to end its monthly bond purchases later this year. Following
Read MoreUS Dollar Strengthens for Fourth Consecutive Day Amid Global Risk Off Sentiment
On Tuesday, the dollar index was at 93.2, near its highest level since August 23rd, as investors remained cautious ahead of the US Federal Reserve’s policy meeting, which concludes on Wednesday. Traders are still waiting for more information on when
Read MoreGoldman Sachs Forecasts BoE to Raise Interest Rates in May 2022
Citing the week’s stronger-than-anticipated UK employment data, Goldman Sachs has pushed back the date when the Bank of England is likely to increase benchmark rates by over a year. “Latest stats on the UK labor market have been better than
Read MoreHopes of Australian Economic Rebound Fades as Iron Ore Price Hits New Yearly Lows
Iron ore prices dropped dramatically, down to around $110 (Tianjin delivery) a tonne after falling from a record high of $230 in May to about $110 a tonne. The dip in iron ore prices comes as China, the world’s largest
Read MoreAussie Declines as the RBA Expects GDP to Shrink Sharply in Q3
The AUDUSD currency pair fell 0.0023, or 0.31%, to 0.7345 on Tuesday, September 14, from 0.7367 the preceding trading period, as the Reserve Bank of Australia (RBA) maintained the cash rate largely untouched at a historic low of 0.1% during
Read MorePound Weakens as Global Financial Market Sentiment Deteriorates
A sharp downturn in global market mood prior to the weekend fueled demand for safe-haven assets at the cost of the British pound. The Pound had been rising versus the Euro and the Dollar, but reports that the US will
Read MoreRussian Ruble Likely to Hit 75.76 Against Greenback as Rate Hike Misses Expectations
The Central Bank of Russia increased its benchmark interest rate by 25 basis points to 6.75%, despite market expectations for a larger 50 basis point increase, stating that the balance of threats for inflation is sloped to the plus side
Read MoreEurodollar Declines to $1.18 as Investors Await ECB Policy Meeting
The euro dollar fell to $1.18 after climbing over $1.19 for the foremost time after June 30th. ingnvestors are waiting for the European Central Bank’s policy meeting tomorrow to see if the bank will start reducing its bond-buying initiative after
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