German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …
Read More »GBP/USD encounters wall of critical resistance
GBP/USD keeps moving back and forth on Tuesday in a day that ran through a vast territory for a fresh high for the week, so far, at 1.1489 from a low of 1.1280. The American dollar was hit hard by lower-than-expected JOLTS data that has accompanied weak Manufacturing data and …
Read More »Wall Street Soaring On Dollar Weakens, US Jobs Data
The yield on the benchmark 10-Year US Treasury note fell 9 basis points to 3.66%, a two-week low, while the dollar index, which tracks the greenback against a basket of six developed economy currencies, fell around a quarter point to 110.65. The S&P 500 meanwhile, rose 2.8%, while the Dow …
Read More »USD/CAD drops on softer US dollar, higher oil prices
USD/CAD drops 100 pips on Tuesday, extending its weekly losses to almost 2%. Broad US dollar weakness and high crude oil prices undermine the USD/CAD, a tailwind for the CAD.The US economy is slowing as the Fed wishes, as portrayed by the JOLTs report missing estimations. Fed policymakers continue to …
Read More »EUR/USD approaching parity on softer US dollar
The EUR/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR/USD rose even further during the American …
Read More »Lagarde: Difficult to say if inflation is at peak
European Central Bank President Christine Lagarde said on Tuesday it was difficult to say whether or not inflation has peaked in the euro area.“The minimum that we have to do is to stop stimulating demand,” Lagarde added. These comments don’t seem to be having a noticeable impact on the shared …
Read More »Market Drivers – European Session 4/10/2022
The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict.Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was always …
Read More »Oil rises ahead of OPEC + meeting to discuss production cuts
Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …
Read More »The Kremlin: Elon Musk’s proposal for a peace agreement with Ukraine is a “positive step”
The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict. Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was …
Read More »USD is falling and the markets are taking a breath
The dollar fell on Tuesday as US Treasury yields stopped rising after a wave of increases, which provided an opportunity for stock markets and helped the euro and pound to catch a breath and recover from multi-year lows. The Australian dollar was also eye-catching, as it fell by about one …
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