Turkish Lira Records Fresh All-Time Low of 8.9982
The Turkish lira fell to a historic low of 8.97 per US dollar on worries about the legitimacy of monetary policy and a rising US currency. Following President Tayyip Erdogan’s demands for lower benchmark interest rates in a nation where
Read MoreSwedish Krona Plunges 0.77% Against the US Dollar on Weak Economic Data
The USDSEK increased 0.0806 or 0.92% to hit a high of 8.8215 on Wednesday from 8.7409 in the earlier trading session following a series of weak economic data (industrial output, household consumption and industrial orders) from Sweden and upbeat non-farm
Read MoreRussian Ruble Strengthens on Lifting of FY21 Growth Outlook & Plans to Increase Govt. Spending
The Russian ruble strengthened on Friday despite the report of a slowdown in Russia’s economic growth in August. The upward revision of FY21 GDP by the Russian Ministry of Economic Development and the government’s plan to increase spending in the
Read MoreBritish Pound Rebound as Bond Yields Continue to Rise
According to a seasoned Forex market trader, the British Pound has reached a turning point and it would be foolish to dump it now. The latest developments in the United Kingdom have led Brent Donnelly, President of the Spectra Markets
Read MoreAustralian 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
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