What you need to know on Monday, May 24: The greenback recovered on Friday, ending the week mixed across the FX board. The American appreciated following upbeat US data and comments from Federal Reserve officials suggesting a sooner rather than later discussion on tapering amid signs of heating inflation. On Friday, Atlanta Federal Reserve President […]
Forex Today: Tapering talks back modest dollar’s gains Read More »
Bitcoin tumbles again as China intensifies crackdown Equity markets fall modestly on Friday as big tech retreats but data remains supportive Fed now flips from behind the curve to thinking about being ahead A tumultuous week but not on Wall Street. Crypto and in particular Bitcoin was the narrative spreading across trading screens this week
The Swiss National Bank (SNB) Chairman Thomas Jordan made some comments on the monetary policy outlook and exchange rate value, in an interview with Swiss daily Neue Zuercher Zeitung on Saturday. Key quotes “The franc remains highly valued.” “Inflation is only slightly above zero.” “Productive capacities are not fully utilized in Switzerland.” “Against this background,
SNB’s Jordan: The Swiss franc remains highly valued Read More »
GBP/USD drops toward 1.4150 as the US dollar strengthens on economic data Cable retreats from monthly highs, turns negative for the day. US dollar rises across the board supported by US economic data. The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233
US Manufacturing PMI rose to a new series high in May. US Dollar Index rose above 90.00 after the data. The business activity in the US manufacturing sector continued to expand at a robust pace in May with the IHS Markit’s Manufacturing PMI rising to a new series high of 61.5 from 60.5 in April.
US: Manufacturing and Services PMIs reach new series highs in May Read More »
NZD/USD refreshes intraday low amid a quiet Asian session. US dollar consolidates the previous day’s losses amid pick-up in 3-year Treasury yields. Israel-Palestine peace accord helps extend Wall Street gains, pre-PMI mood probe bulls. NZD/USD takes offers around 0.7180, down 0.24% intraday, as sellers retake control during early Friday. Amid a lack of major catalysts
NZD/USD drops below 0.7200 on US dollar rebound Read More »