On Tuesday, the US Dollar Index (DXY), which tracks the USD’s performance against major rival currencies, advances to fresh highs and levels last recorded in late July 2020 in the 95.80/85 band.The USD Index has been largely supported by treasury yields, and the latest positive economic data. The index extends …

AUD/USD fades after two successive day gains. The pair has been pressured around 0.7345 at the start of Tuesday’s Asian session.The AUD overcame firmer US Dollar Index and Treasury yields to mark a positive week’s start before easing from 0.7371 ahead of the RBA’s latest monetary policy meeting minutes and …

The bipartisan $1.2 trillion infrastructure bill has been signed into law by US President. Roads and bridges represents $110 billion investment, below the $159 billion initially requested per Biden’s Jobs Plan.The White House says it would be the largest dedicated bridge investment since the 1950s.$16 billion cover major projects as …

On Monday, Tesla shares staged a remarkable U. S. session’s midday comeback after selling off in heavy volume. Tesla shares traded down 1% after paring deeper losses of nearly 5%. CEO Elon Musk sold $6.9 billion worth of Tesla shares last week. This is estimated to be one of the …

The Reserve Bank of Australia will release the minutes of its monetary policy meeting on Tuesday, two weeks after the interest rate decision was announced. The minutes provides a detailed insight on the discussions held between the RBA’s board members on monetary policy and economic conditions that influenced their decision …

Australia’s central bank has admitted that booming house prices are worsening the inequality gap.Before a parliamentary committee’s inquiry on housing affordability on Monday, the RBA confessed that low income Australians would be forcibly pushed into poverty if buying a property becomes increasingly unaffordable.The comments made by RBA assistant governor Luci …

Oil prices slipped to a one-week low on Monday on expectations on supply boost and weaker demand under pressures from recent surge in energy costs, the strong dollar and increasing COVID-19 cases.On Sunday, Senate Majority Leader Chuck Schumer urged Biden’s administration to tap into Emergency Petroleum Reserves (SPR) to lower …

Major stock indexes edged higher in early trading, then continued to rise boosted by improved Chinese data, led by retail sales’ rising to 4.9% October, compared to the previous reading of 4.4%, above the expected 3.5%.The US data also showed an improvement at the level of the manufacturing sector, which …

President Joe Biden is expected to decide as soon as this week whether Jerome Powell will be re-nominated for a second term as Fed Chair or Lael Brainard is Biden’s pick instead.The Wall Street Journal reported that Biden’s meetings with both had only other adviser, National Economic Council Director Brian …

A growing consensus of market watchers, investors and traders says that the Federal Reserve Bank has to speed up its taper procedures, namely the reduction of asset purchases in light of the fastest inflation in 31 years.The calls, ranging from former New York Fed President Bill Dudley to St. Louis …