US 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 MoreDollar Hits 4-Month High on Rising Optimism Over Robust Economic Rebound
The US dollar index shot over 92.70 against a bouquet of currencies Friday, just notches away from the four-month high of 92.92 recorded in the earlier session and on track to record a 0.8% weekly increase as better-than-anticipated weekly jobless
Read MorePound Trades Near 2-Yr High Against Dollar on Covid-19 Vaccine Induced Optimism
The British pound is witnessing revived buying interest as multiple analysts point to the country’s vaccine launch as the primary reason for the demand. At the time of writing this article, the pound to dollar exchange rate has rebounded to
Read MoreUS Capacity Utilization Rate Rises to 74.5% in December
The euro dollar fell against the greenback Friday despite the release of poor retails sales data from the US. Even the Empire State Manufacturing Index was below analysts’ expectations. The expectations of another stimulus package worth $1.90 trillion, including direct
Read MoreUK Economy Expanded 16% q-o-q in 3Q20 as Public Sector Net Borrowing Rises to Record High
The pound remained range bound against the greenback following the release of mixed economic data from the UK. While the final GDP and revised business sentiment data was better than expectations, the sharp increase in public sector borrowing and widening
Read MoreNew Zealand Dollar Hits 20-Month High
The NZD/USD currency pair rallied to 20-month high of 0.6886 following the Reserve Bank of New Zealand’s decision to maintain official cash rate (OCR) at a historical low of 0.25%. In New Zealand, the official interest rate is called as
Read MoreUS Dollar Index Gains 1% Week, But Chinese Yuan Leads Fray with Solid Economic Data
The US dollar index edged upwards to trade at one month high of over 94 Friday, following an extended rally for the 3rd day in a row against the backdrop of increasing Covid-19 infections and forthcoming US election results. The
Read MorePound Dips Below 1.30 as Brexit Talks Face Roadblock
The British pound dropped below 1.30 against the greenback, against the backdrop of worries about a sharp rise in Covid-19 cases throughout the Europe and an absence of advancement on a Brexit agreement. The UK reported roughly 23,000 coronavirus infections
Read MorePound Turns Weak as Moody’s Slashes UK’s Credit Rating
The pound sterling fell 1% last week to $1.292, against the backdrop of Brexit uncertainty, stringent lockdown initiatives, likelihood of negative interest rates and rating downgrade by Moody’s. The UK Prime Minister Boris Johnson has asked the country’s enterprises to
Read MoreRussian Ruble Weakens on Surge in Covid-19 Cases, Weak Trade Surplus Data
The Russian ruble fell 0.5% to $77.60 yesterday following reports of a surge in Covid-19 cases for the second day in a row in Russia. Notably, the ruble fell in spite of a record high placement of Russia’s government bonds
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