Tag: Forex News Round Up

US Treasury Secretary Urges Congress to Raise Debt Ceiling

Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the U.S. debt limit “as soon as possible” so the government can pay federal employee benefits and other obligations. In a letter to congressional leaders and key committee chairmen, Mnuchin said the Treasury Department would continue to suspend payments into federal employee […]

Dollar Weaker on Shrinking Central Bank Divergence and US Trade Stance

A persistently weak dollar is confounding currency traders and roiling global financial markets. Investors across asset classes are feeling the effects of the buck’s rocky start to the year, with the ICE U.S. Dollar Index DXY, -0.06% a measure of the currency against six major rivals, dropping 3.5% in the year to date, adding on […]

DoubleLine CEO Says Weak USD Good for Commodities

There’s good news ahead for commodities, with a particular bet on metals, as the outlook for the dollar looks to stay grim, according to experts. DoubleLine CEO Jeffrey Gundlach made a call for commodities during a webcast Tuesday, during which he predicted commodities would soon outperform stocks. This correlates with the weakness of the dollar, […]

ECB Coeure says Inflation will Reach CB Goal Very Gradually

Executive Board member Benoit Coeure said euro-area inflation will converge “only very gradually” toward the European Central Bank’s goal, justifying the need to continue providing stimulus. Drawing a comparison with the U.S., where he noted that some fund managers anticipate an upside risk to price gains, the Executive Board member said “we see no such […]

Could WTI reach USD 70.00 per barrel ?

By Sara Israfilbayova From a fundamental perspective, the continuous fall in the U.S. oil inventories is driving market given the positive global growth narrative, Stephen Innes, Head of FX Trading for OANDA told Azernews. The expert said that oil markets were at the epicentre of volatility with WTI breaking the $ 66.00 per barrel market […]

Fate of GBP Depends on Brexit Deal

Sterling had been on a downward trend since the U.K.’s vote to leave the European Union in 2016, but reduced concerns over an abrupt break-up with the EU are sending the currency higher. The pound traded at $1.40 against the dollar Tuesday morning, not only boosted by a weaker dollar, but also because traders are […]

US House Prices Rise in November

The supply crisis in the housing market is not letting up, and consequently neither are the gains in home values. National home prices continued their run higher in November, rising 6.2 percent annually on S&P CoreLogic Case-Shiller’s most broad survey, up from 6.1 percent in October. Another S&P index of the nation’s 20 largest housing […]

US Consumer Confidence Rose in January

Consumer optimism pushed higher than anticipated in January, after a surprise decline the previous month. The Conference Board’s measure of consumer confidence rose to 125.4 in January, higher than the 123.1 anticipated by economists polled by Reuters. The measure had declined to 122.1 in December. The key index rose to 129.5 in November, the highest […]

Brexit is Already Impacting the UK Economy

What will Brexit mean for the British economy? Executives, forecasters and bankers have been trying to answer that question for at least two years. The U.K. government has done its own analysis, and a leaked draft Tuesday makes for ugly reading. BuzzFeed reported that the government analysis suggests Brexit will reduce economic growth by between […]