Forex Market

The USD/CAD pair has rebounded from weekly lows around 1.35920s and concludes trading closer to the 1.3600 mark. The pair is trading at 1.3592 at the time of writing after hitting the 1.3485 low.The stronger American Dollar keeps the Canadian Dollar under pressure. The US Dollar Index (DXY), a gauge …

At the time of writing, the USD/JPY is trading at 134.17, up by 0.54%. The dollar rallied a little bit against the Japanese yen during the US trading session on Wednesday, but it is obvious that the American currency is struggling to shyly hang on to gains later in the …

After the EUR/USD pair had made a run to weekly highs, it eventually retreated. The pair now is closer to the daily low as US yields rise.The stocks market turns negative, while crude oil sinks. The EUR/USD pair failed to break the current range despite hitting the highest level in …

The GBP/USD pair has come back above the 1.2100 figure, courtesy of the US Dollar weakness. China’s relaxing Covid-19 restrictions can keep the market’s positive sentiment.The British Pound sharply advances after the European trading session that exhibited choppy trading, bouncing off the day’s lows around 1.2000. the pair is also …

Pending Home Sales in the US declined by 4% on a monthly basis in November, the data published by the National Association of Realtors showed on Wednesday. This reading followed October’s decrease of 4.6% and came in much worse than the market expectation for an increase of 0.6%.Following this data, …

European stocks rose in early trade on Wednesday and the FTSE 100 outperformed its peers after a long Christmas weekend as investors assessed Beijing’s steps towards reopening its Covid-hit economy. The STOXX 600 European shares rose 0.3 percent by 0809 GMT, while the Financial Times 100 rose 0.9 percent, as …

China published its upwardly revised GDP estimate for 2021, at 8.4% instead of 8.1%. China has also stimulated positive market sentiment following the announcement of easing covid-linked restrictions, which will alleviate the negative impact of such restrictions on the economy. China Immigration Administration announced it would resume issuing visas for …

San Francisco Fed’s Thomas M. Mertens, from the Economic Research Department, published a report, on Tuesday, on the central bank’s official website entitled “Recession Prediction on the Clock”. The report could be seen as a recession predictor based on macroeconomic data, particularly the jobless unemployment rate.This economic update was able …

The Canadian dollar is outperforming during the US session on rebounding WTI crude price, and so Canada’s currency approaches daily highs.As Wall Street trims losses, US yields print fresh highs, the USD/CAD pair is hovering around 1.3510 after hitting at 1.3484, the lowest level in three weeks, amid a significant …

International trade deficit of the US declined by $15.5 billion in October while the US Dollar Index is hovering around 104.22 after the data, showing no immediate reaction to this report. The data published by the US Census Bureau revealed on Tuesday that the US international rate deficit declined by …