Euro Breaks Above 1.21, More Highs to Come in the Weeks Ahead
The euro dollar has gained ground against a slightly weaker greenback in the last 24 hours as analysts forecast the EUR/USD to make another attempt to test this year’s high. On January 5th, the spot market witnessed the EUR/USD hit
Read MoreCrédit Agricole Expects Further Strengthening of the New Zealand Dollar
Last week, the kiwi dollar has eclipsed all other top currencies in performance, paving way for Westpac, Crédit Agricole CIB and other to suggest buying the kiwi dollar in expectation of another round of uptrend in the days ahead. In
Read MoreCanadian Dollar Rallies on Bank of Canada’s Upgraded Economic Outlook
The Canadian dollar rallied Wednesday and while doing so pushed the GBP/CAD pair downwards from their weekly high after the BoC (Bank fo Canada) revealed its decision to maintain interest rate at a record low level of 0.25%, while slashing
Read MoreBMO Capital Forecasts Further Upside to the Canadian Dollar
Analysts at BMO Capital Markets have suggested buying the Canadian dollar on dips against the backdrop of national budget and the central bank’s monetary policy meeting next week. The outcome of those events may affect the demand for the Canadian
Read MoreAussie Turns Weak on Vaccination Issues
Following remarks from a top government minister that state borders could stay largely sealed for an unspecified amount of time, queries have been posed regarding when, or even whether, the Australian economy will reach original capacity. On Tuesday, Health Minister
Read MoreWeak Economic Data, Geopolitical Worries Push Russian Ruble to 5-Month Low
The Russian ruble faced heavy sell off last week, with the currency breach $77 mark for the foremost time since November 2020 on increasing geopolitical problems. Specifically, NATO has warned about Russian military build-up along eastern Ukraine. In the meantime,
Read MoreCanada Economy Gains Momentum as Ivey PMI Hit 10-yr High
The Canadian dollar eclipsed other top currencies Wednesday and continued to stay as the leader amongst the bouquet of major currencies this year after the data published by Statistics Canada indicated that the economy is turning stronger in spite of
Read MoreUS Dollar Index Ends the Week at 5-Month High
The dollar index remained almost unaltered at 92.90 in a lackluster trading session on Good Friday, reflecting levels which were not seen since the beginning of November and is on track for its third successive week of positive close as
Read MoreUS Dollar Down as Pending Home Sales Decline for the First Time in Nine Months
Private enterprises in the US added 517,000 jobs in March, compared with economists’ expectations of 550,000 job additions. The reported figure reflects the largest rise in private payrolls since October 2020. Service sector added 437,000 jobs, aided by 169,000 job
Read MorePound Hits Seven Week Low as Consumer Price Inflation Weakens in February
The pound declined to seven-week low of 1.3677 against the greenback on intense selling pressure, before regaining some of the lost ground to trade at about $1.37 after the recent data indicated that the UK’s inflation rate unexpectedly declined. Consumer
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