Forex Market

The EUR/USD pair has reversed part of recent gains and returned to 1.1600. Sellers returned to the market and forced EUR/USD to abandon the area of recent highs and refocus once again on the 1.1600 hereabouts.After two successive daily pullbacks, the EUR/USD pair now trades on the defensive and hovers …

New Zealand’s dollar declined 0.34% to $0.6939, away from a four day peak at $0.6981.The Reserve Bank of New Zealand will decide on the state’s fiscal policy on Wednesday, with markets expecting a quarter point rate hike. With markets already pricing a rate hike cycle, the likelihood of material NZD …

Early Tuesday morning in Asia, CNN came out with the news suggesting a different approach by U. S. President Joe Biden to get his infrastructures spending plan through the Senate during a group of House progressives.The Democrats said to have backed the need to trim the top line of the …

The reversal of New Zealand’s dollar from 0.0.6980 high has found support at 0.6955.The NZD/USD pair was able to maintain its near-term positive tone amid broad-based USD weakness. Therefore, the NZD/USD remains close to 0.7000 resistance area.The New Zealand dollar’s rejection at the 0.7000 area, seen during Monday’s earlier US …

The Business Confidence Index in Australia has increased for the first time since May.The Index’s report cites following the outlining of re-opening plans in September in both NSW and Victoria, business confidence data gained +3.1% m/m to 104.6 on Monday, and +22.2% y/y. Business confidence in September 2021 was 9.2pts …

Newly elected Japanese Prime Minister Fumio Kishida said Monday he will dissolve the lower house next week in preparation for 31 October elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected …

The Canadian dollar strengthens 0.7% against the U. S. counterpart. The Canadian currency has touched its strongest level since 7 September 1.2561 as U.S. oil price has climbed by 3% and the Canadian bond yields rise across a steeper curve. The Canadian dollar on Monday strengthened to its highest level …

Gold retreated from its highest level in more than a week on Monday, October 4, as US Treasury yields rose and the dollar compensated for some of its losses, but it remained above the technically important $1750 support level, supported by market fears of inflation. Spot gold fell 0.5% to …

Data showed Monday, October 4, that Turkey’s inflation rose slightly less than expected to 19.58% y/y in September from 19.25% in August, the highest level since March 2019, taking real yields further into losses after the central bank cut interest rates. to 18%. On a monthly basis, the Turkish Statistical …

U. S. ISM Manufacturing Employment Index is at a current level of 50.20, up from 49.00 last month and up from 49.60 one year ago. This is a change of 2.45% from last month and 1.21% from one year ago. The Institute for Supply Management (ISM) Manufacturing Index shows business …