Forex Market

Jerome Powell and Lael Brainard are widely believed to be the two frontrunners for the Fed Chair’s position. No other names have leaked to the public according to key media outlets in Washington DC.Brainard, if appointed, would be the second woman to head the US Federal Reserve Bank, following Treasury …

A sharp surge in natural gas prices since August has put pressure on a set of commodities, including crude oil, coal and electricity. Prices are currently squeezing margins for industrial users. Some industrial activities have contributed to higher prices for other commodities, such as base metals and ammonia as output …

One of US President Joe Biden’s toughest challenges is maneuvering America’s relationship with its biggest economic enemy; namely China. when Biden holds a virtual summit with Chinese counterpart Xi Jinping later on Monday, issues such as tariffs, supply chain bottlenecks, subsidies, Chinese property sector debt crisis and the global energy …

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 …

The Turkish lira fell by about 0.8 percent on Tuesday to a new record low of 10.14 against the dollar, weighed by expectations of another interest rate cut from the central bank this week. The lira has fallen 27 percent against the dollar this year, mainly due to concerns about …

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 …

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 …