The US merchandise trade deficit widened to a record level in November due to a jump in imports and a fall in exports. The US Commerce Department said on Wednesday that the goods trade deficit increased 17.5 percent last month to $97.8 billion, from $83.2 billion in October. That exceeds …
Read More »Rising Risk Appetite Brings The Yen to Its Lowest Level in a Month, And The Euro is Falling
The euro slipped in thin trade over the Christmas holiday on Wednesday and the dollar pushed the yen to a one-month low as investors shrugged off a spike in omicron infections with renewed risk appetite. The Australian dollar rose as stocks rose, but the euro bucked the trend, falling 0.2 …
Read More »Market Drivers – European Session 28-12-2021
The market was quiet due to the Christmas and New Year holidays. Gold traded in the morning hours at $1809 an ounce, adding nearly $10, while the dollar index is still low and is trading at 96 against a basket of foreign currencies. The US Treasury yields also recorded a …
Read More »The safe-haven yen fell to its lowest level in a month as fears of Omicron subsided
On Tuesday, the Japanese yen fell to its lowest level in nearly a month against the US dollar as the tide turned against the safe-haven currencies after Wall Street rose to a record high that overshadowed fears of the pivot Omicron. The Japanese currency fell to 114.935 yen against the …
Read More »EUR/USD Remains Within Narrow Trading
The EUR/USD pair has remained on the defensive heading into the early North American session, and rather has managed to hold its neck above the 1.1300 round-figure mark.Having failed to make it through the 1.1340-50 resistance zone on Friday, the EUR/USD pair witnessed a subdued price action on the first …
Read More »Market Drivers – European Session 27-12-2021
The market was quiet due to the Christmas and New Year holidays. The People’s Bank of China (PBOC) said on Monday that it will steadily implement a management system for real estate financing, as reported by Reuters. The Chinese Ministry of Finance said, today, Monday, that the country will implement …
Read More »The Dollar is Witnessing The Worst Week
The dollar headed for its worst week since September, while other risk-friendly assets from bitcoin to the Australian dollar maintained their recent gains buoyed by easing concerns about the severity of the new COVID-19 mutation. MSCI’s Asia Pacific shares outside Japan rose 0.2%, and Japan’s Nikkei rose 0.1% after the …
Read More »Market Drivers – European Session 23-12-2021
During trading today, Thursday, in the currency market, only three of the currencies in the list of major currencies achieved profits and gains against other currencies. The list of winning currencies was presented by the pound sterling, followed by the Australian dollar, followed by the New Zealand dollar. The profits …
Read More »Market Drivers – European Session 22-12-2021
The Turkish lira stabilized and retained its recent gains amid highly volatile currency trading this week. The lira fell in recent trading by about 1.4 percent to 12.57 against the dollar. Still, it retained most of its gains after it rose from record low levels, in the wake of new …
Read More »The Dollar Rises And The Turkish Lira Maintains Its Gains
The dollar rose on Wednesday, while the euro and riskier currencies such as the Australian dollar fell as traders braced for more volatility as well as the consequences of increased infections with the Omicron coronavirus. The Turkish lira stabilized and maintained its recent gains amid highly volatile currency trading this …
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