South African Rand Hits Over One Week High as Mfg PMI Rises Above Pre-Pandemic Levels
The South African rand recorded more than one week high of 16.40 against the greenback Friday, following news reports that President Cyril Ramaphosa will unveil the Mooiklof Mega Residential City tomorrow, the first government backed venture in its $139 billion
Read MoreEuro Down as ECB’s Lagarde Signals Allowing Inflation to Overshoot 2% target
The euro dollar declined against the pound yesterday after the European Central Bank (ECB) President Christine Lagarde hinted that the ECB will align with the policies of the US Federal Reserve and allow the inflation to overshoot the 2% objective
Read MoreUS Dollar Index Hovers Around 2-Month High On Solid Texas Manufacturing Index Data
The US dollar index declined slightly to about 94.20 Monday, but stayed near two-month high of 94.64 in the earlier session as data published by the Federal Reserve Bank of Dallas reported 2-Year High Texas Manufacturing Index data. Investors continue
Read MoreCanadian Dollar Hits Eight Week Low as Covid-19 Infections Surge
The Canadian dollar closed Friday’s trading at 1.3396 against the greenback, reflecting eight week low against the back drop of a strengthening dollar, mounting worries over a surge in worldwide Covid-19 infections and a decline in crude prices. Notably, Prime
Read MoreYen Declines as Japanese Flash Mfg. PMI Signals Further Economic Slowdown
The Japanese yen declined against the greenback yesterday following the report of worse than anticipated flash manufacturing PMI (purchasing managers’ index) data and indicated contraction of the sector. Notably, the flash manufacturing PMI data from the US was better than
Read MoreRussia Central Bank Maintains Benchmark Rate at 4.25% as Unemployment Soars to 8-yr High
The central bank of Russia maintained its benchmark interest rate at 4.25% Friday, freezing its monetary easing policy for the time being as inflation rises and the country stares at new sanctions. The central bank of Russia, however, hinted that
Read MoreDollar Posts 2nd Straight Weekly Gain
The US dollar index inched down 0.1% to roughly 92.30 on Friday, but recorded a weekly gain of 0.6%, reflecting the first consecutive weekly gains since May. The greenback recorded a 28 month low of 92.144 on August 31, but
Read MoreJapan Core Machinery Orders Rebound 6.3% m-o-m in July
Japan’s machinery orders bounced back in July following a steep decline in the earlier month, a huge break for the Covid-19 afflicted economy but the forecast for capital outlay continued to be unclear due to volatile global business scenario. The
Read MoreRussian Ruble Falls to Near 5-Month Low
The Russian ruble lost nearly 1% to trade at about 76.12 against the greenback Monday, a level seen on April 21, pushed down by weak oil prices and geopolitical issues. The benchmark Brent crude fluctuated around 2-month low of $41.71
Read MoreAustralia Succumbs to Covid-19, Posting First Recession in Three Decades
Australia’s trade surplus declined to A$4.61 billion in July, from A$8.15 billion in the earlier month and lower than Consensus estimate of A$5.40 billion. It was the smallest trade surplus since pre-pandemic February, against the backdrop of extended effect of
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