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Tag: Currency

GBP/USD – Pound Higher as Sentiment Remains Negative on Greenback

The British pound continues to head higher this week. In North American trade, GBP/USD is trading at 1.4067, up 0.48% on the day. On the release front, there are no British events on the schedule. In the US, PPI gained 0.4%, matching the forecast. Core PPI also gained 0.4%, beating the estimate of 0.2%. Both indicators […]

US 10 Year Yield Reaches Four Year High

U.S. government debt yields notched new highs Thursday amid of a slew of new economic data that provided more evidence of inflation pressure. The yield on 10-year U.S. Treasury touched a fresh four-year high of 2.944 percent, above the levels which sparked a stock market sell-off in recent weeks. The 2-year Treasury yield hit a […]

Cyril Ramaphosa Sworn in as South Africa’s New President

African National Congress (ANC) leader Cyril Ramaphosa has been sworn in as South Africa’s new president, following his predecessor Jacob Zuma’s departure Wednesday night after a long power struggle. Ramaphosa, 65, was formerly Zuma’s deputy president. He was elected leader of the ruling ANC in December, narrowly defeating Zuma’s chosen candidate, his ex-wife Nkosazana Dlamini-Zuma. […]

CAC Jumps on Strong Corporate Earnings

The CAC index has posted strong gains in the Thursday session. Currently, the index is at 5,241.75 up 1.47% since the close on Wednesday. On the release front, the eurozone trade surplus widened in December, climbing to EUR 23.8 billion. This beat the forecast of EUR 22.4 billion. US markets were higher on Wednesday, and […]

DAX Climbs as Investors Ignore Spike in US Consumer Inflation

The DAX index has posted strong gains in the Thursday session. Currently, the index is trading at 12,453.00, up 0.92% since the Wednesday close. In the eurozone, trade surplus continues to grow, climbing to EUR 23.8 billion. This beat the forecast of EUR 22.4 billion. On Friday, Germany releases the Wholesale Price Index, which is expected to […]

EUR/USD – Euro Rise Continues on Broad Dollar Weakness

The euro continues its upward movement and has posted gains in the Thursday session.  Currently, the pair is trading at 1.2483, up 0.27% on the day. In the eurozone, the trade surplus continues to grow, climbing to EUR 23.8 billion. This beat the forecast of EUR 22.4 billion. It’s a busy day in the US, […]

Oil Rises After Smaller Buildup in Inventories and Soft USD

U.S. crude stocks rose less then expected last week, while gasoline stocks rose by more than analysts had forecast as refineries cut output, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1.8 million barrels in the week to Feb. 9, short of analysts’ expectations for an increase of 2.8 million […]

Gold Jumps as Strong CPI and Weak Retail Sales Spook Markets

Gold prices have posted strong gains in Wednesday’s North American session. Currently, the spot price for an ounce of gold is $1348.04, up 1.41% on the day. On the release front, January consumer inflation beat expectations. CPI jumped 0.5%, above the estimate of 0.3%. Core CPI remained steady at 0.3%, edging above the forecast of […]

GBP/USD – Pound Jumps as US Inflation Drags Down Dollar

The British pound has posted gains in the Wednesday session. In North American trade, GBP/USD is trading at 1.3867, up 0.53% on the day. On the release front, consumer inflation beat expectations. CPI jumped 0.5%, above the estimate of 0.3%. Core CPI remained steady at 0.3%, edging above the forecast of 0.2%. consumer spending reports were […]

USD/CAD – Canadian Dollar Ticks Higher, Markets Await US Inflation Reports

The Canadian dollar continues to trade sideways this week. In the Wednesday session, the pair is trading at 1.2576, down 0.14% on the day. On the release front, there are no Canadian indicators for a third straight day. In the US, the markets are expecting mixed inflation numbers. Core CPI is expected to expected to edge […]