Month: May 2021

The forex markets are staying in mixed consolidative mode in Asian session. Australian Dollar trades mildly higher following strong, record making, export data. But that’s offset by Melbourne’s return to pandemic restriction, on masks and gatherings. Dollar turns weaker as Asian stocks rebound, together with Yen and Canadian. European majors are generally firm. Technically, focus
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The Consumer Price Index (CPI) number in April, which arrived at 4.2% on a yearly basis, was a “very unpleasant surprise,” Federal Reserve’s Vice Chairman Richard Clarida told Yahoo Finance on Tuesday, per Reuters. Additional takeaways “US outlook is very very positive and growth could hit 7%.” “Most recent employment report highlighted near term uncertainty in labor market.”
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EUR/USD turned south after rising to 1.2266 on Tuesday. US Dollar Index stages a modest recovery during American trading hours. Fed’s Clarida says Fed could discuss scaling purchases in upcoming meetings. The EUR/USD pair climbed to its highest level since early January at 1.2266 on Tuesday but lost its bullish momentum in the second half
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Germany is close today the European indices close with the modest changes.  A snapshot of the provisional closes shows: France’s CAC, +0.3% UK’s FTSE 100, +0.5% Spain’s Ibex, unchanged Italy’s FTSE MIB, -0.3% In other markets as London traders look to exit: Spot gold is up one dollar or 0.05% $1882.24. Spot silver is up $0.16
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Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
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Bank of England (BoE) Governor Andrew Bailey acknowledged on Monday that the economic recovery in the UK is “quite unbalanced,” as reported by Reuters. “Hopefully, that imbalance will reduce as more services markets reopen from lockdown,” Bailey added. “The risk of high inflation expectations becoming entrenched is not our central view.” Market reaction These comments
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