US Dollar Hits One-Week Low as Consumer Sentiment Hits Decade Low
The dollar index fell to new weekly lows in the 92.40 range on Friday, tracking Treasury yields, as fund managers responded to unimpressive sentiment info. Consumer confidence in the United States fell to 70.2 in August, far below market forecasts
Read MoreAussie Remains Weak on Slow Covid-19 Vaccine Roll Out
According to an expert at one of Australia’s biggest banks, the Aussie will stay restricted for “some time ahead,” owing to a sluggish vaccination rollout. In a study paper presented, Richard Franulovich, Head of FX Strategy at Westpac, states that
Read MoreSwiss Franc Continues to Decline After Hitting 1-1/2 Month High
The Swiss franc traded at 0.9150 per US dollar, falling further from a 1-1/2-month high of $0.9010 recorded earlier in August as speculators rushed into the dollar on hopes of a much more hawkish Fed after a strong US employment
Read MoreUS Dollar Strengthens on Fed Vice Chairman’s Hawkish Statement
According to Federal Reserve Vice Chairman Richard Clarida, the central bank is on track to meet its economic goals by the end of 2022 and begin increasing benchmark interest rates once more in 2023. While he said the labor market
Read MoreChina’s Manufacturing Growth Hits 17-Month Low
The Chinese National Bureau of Statistics (NBS) manufacturing PMI declined to 50.40 in July, from 50.90 in June and missed market forecasts of 50.80. The reported reading reflects the weakest rate of growth in factory activity following a contraction in
Read MoreAussie Declines On Rising Covid-19 Cases & Two Month Low Iron Ore Prices
The Australian dollar declined against the dollar, the pound, and other major currencies as the price of iron ore with a 63.5% iron content for delivery to Tianjin tumbled to near $200 a ton, the lowest since the last week
Read MoreUS dollar Strengthens on Increasing Demand for Safe Haven Assets
The dollar index has continued to rise, approaching a four-month peak of 93.19 reached on Wednesday, as appetite for safe-haven assets remained strong amid concerns over the Delta COVID-19 variant’s rapid spread. Furthermore, while worries about the US economic rebound
Read MoreAussie Remains Weak as Covid-19 Delta Variant Threatens RBA Plans
The Australian Dollar’s trend remains bearish for the time being, according to Morgan Stanley analysts, who are apprehensive about the “asymmetric” problems faced by the economy due to rise in infections caused by the Covid-19 Delta variant. The financial firm
Read MoreYen Continues to Trade Near Four-Week High as Vaccination Gathers Pace
The Bank of Japan left the near-term benchmark interest rate unaltered at -0.1% and maintained the target for the 10-year Japanese government bond yield at about 0% during the July meeting, as broadly anticipated, supported by a 8-1 vote. In
Read MoreAussie Up on Strong Chinese Trade Data
Following the publication of several better-than-anticipated Chinese statistics, the Aussie was seen eclipsing its rivals, confirming that events in the world’s second-largest economy continue to be an important determinant of currency movements. In June, China’s imports increased by 36.7% year
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