Turkish Lira Strengthens on Strong Rate Hike & Positive Economic Data
The Turkish lira strengthened to 7.20 per US dollar after the central bank of Turkey (Türkiye Cumhuriyet Merkez Bankası, TCMB) upwardly revised interest rates by 200 basis points to restrict inflation, while economists had projected only a 100 basis points
Read MoreUS Housing Starts Hit 6-Month Low as 10Y Bond Yield Hits 13-Month High
The US Treasuries with 10-year maturity period recorded a yield of 1.65% against the backdrop of Fed monetary policy decision scheduled later today. The market do not anticipate any key alterations in the feds fund rate or quantum of asset
Read MoreStrong Job Additions Propel Canadian Dollar to Two Week High
The Canadian dollar breached two-week high of 1.25 per US dollar in mid-March, against the backdrop of upbeat labor market related economic data. Specifically, the jobless rate declined to 8.2%, reflecting the lowest level in 11 months as the economy
Read MoreJapanese Yen Hits 9-Month Low Against US Dollar
The Japanese yen declined 0.376 points or 0.35% to trade at 108.85 against the greenback Wednesday, reflecting a 9-month low as the clearance of $1.90 trillion stimulus package proposed by the US President Joe Biden has sparked optimism about the
Read MoreBMO Capital – Australian Dollar to Breach 0.80 Versus US Dollar
The Aussie’s valuation saw another round of upward revision from analysts following the report of historically high trade surplus data last week, but lackluster global equity markets seem to be limiting further short-term uptrend in the currency. Financial markets remains
Read MoreRuble Strengthens On Series of Better Economic Data
The Russian ruble has been recovering for the past few weeks to trade at around $74, after hitting a fresh yearly low of $76.50 on January 29, backed by robustness in oil markets and hints that fresh western sanctions will
Read MoreCanadian Dollar Hits One-Week Low On Rising Deficit & Crude Price Declines
The Canadian dollar recorded a one-week low of 1.27 against the greenback Friday, against the backdrop of a decline in crude prices and worries about a surge in global bond returns, even though the yields of bonds denominated in Canadian
Read MoreGoldman Sachs Predicts Pound to Strengthen Considerably Against Swiss Franc
Currency strategists at multinational Wall Street giant Goldman Sachs has stated that the underlying momentum in the Pound is robust and is strengthening because of “first mover advantage” with respect to Covid-19 vaccination drive. The pound’s rally this year has
Read MoreHSBC Analysts Forecast Canadian Dollar to Hit 1.6350 Against the Pound
The GBP/CAD currency pair lost ground Friday, but the underlying bullishness on chart has encouraged Scotabank analysts to study the odds of the pair moving into a higher band in the forthcoming weeks, even though predictions from HSBC indicate that
Read MoreAnalysts Forecast Pound to Hit 1.45 Against Dollar in 2021
According to Paul Dales, an analyst at research firm Capital Economics, the pound could rebound this year to levels seen before Brexit referendum. Dales believes that an improvement in risk sentiment across the globe and a comparative increase in the
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