Financial markets were calm last week due to the Thanksgiving holiday in the United States, and investors were cautious due to the emergence of the new Coronavirus mutant in South Africa and the Uk. Gold During the past week, the safe haven fell due to the growing strength of the …
Read More »Virus Variant Impacts T-Yields, USD
On Friday, US Treasury yields experienced sharpest drop since the pandemic began as investors rushed toward safe haven assets following the emergence of a new coronavirus variant in South Africa.The two-year Treasury yield, which typically moves in step with interest rate expectations, was down 14.2 basis points at 0.502, the …
Read More »Could Brexit Developments Impact The Pound?
GBP/USD has hesitantly bounced from annual lows at 1.3300 ahead of a short market closure for Thanksgiving as markets eye Brexit developments, with French fishermen blockades now expected Friday.While the pair has been under heavy selling pressure recently, it isn’t yet in oversold territory. Ahead of a five-hour market closure …
Read More »US Shares Mixed, Wider Market Reacts After Fed Minutes
Wall Street shares reversed earlier losses in choppy trading on Wednesday and U.S. Treasury yields hovered near highs for the year after data suggested the U.S. job market and consumer spending continued to improve.Oil prices were largely steady as investors questioned the effectiveness of a U.S.-led release of oil from …
Read More »EUR/USD Opens Risk To 1.1000, FOMC Minutes Eyed
On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …
Read More »The Dollar is at a 16-Month High, With a US Interest Rate Hike Expected in 2022
The dollar index rose to its highest level in 16 months and its strongest level in more than four years against the yen after the nomination of Federal Reserve Chairman Jerome Powell for a second term in office, which reinforced market expectations of higher US interest rates in 2022.The exchange …
Read More »Oil War Continues: OPEC+ To React as Biden Threatens To Tap Reserves
Oil prices rose on Monday, rebounding from recent losses, on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war game. Brent …
Read More »The Euro Fell as The Fourth Closure Began in Austria to Contain Covid-19
The European euro fell on Monday, approaching its lowest level in 16 months, on the back of growing fears of the repercussions of the new restrictions to besiege Covid-19 in Europe, at a time when Austria began a complete closure, while Germany considers emulating it. Austria began its fourth closure, …
Read More »Oil Prices Fell to The Lowest Level in Seven Weeks, Why?
Baker Hughes reported, Friday, that the number of active U.S. rigs drilling for oil rose by seven to 461 this week.The new figures followed increases in each of the previous three weeks, including a climb of four oil rigs last week, Baker Hughes data shows.The total active U.S. rig count, …
Read More »T-Yields Drop On EU Lockdown Concerns
US bond yields experienced a sharp drop on Friday, the primary catalyst for which was a continued ramp up in concerns about lockdowns in Europe where Covid-19 infection and hospitalization rates continue to surge. The drop in bond yields coinciding rally in bond prices reflects a broader outperformance of safe-haven …
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