AUD/USD is on the verge of a downside continuation towards daily lows while the Dollar Index (DXY) has headed for a test of 97 the figure again, rallying to a high 96.937FOMC minutes are coming up and could be the final catalyst of the current week. The US data dump …
Read More »Gold Lower Ahead of US Data, FOMC Minutes
The latest FOMC monetary policy meeting minutes, Wednesday, are expected to drive the USD demand and provide a fresh motivation to gold prices. Gold failed to maintain its intraday gains and turned lower for the fifth straight session as the stronger USD acted as a hindrance for the precious metal. …
Read More »Treasury Yields Higher As Fed Expected To Act On Inflation
US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …
Read More »Yellen: Not Worried About A 1970s Inflation Replay
“Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night. The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached …
Read More »Wall Street, European Stocks Jump on Powell’s Second Term News
Wall Street shares rose to record levels on Monday and European stocks turned into the positive territory after US President Joe Biden picked Jerome Powell to continue as Chair of the Federal Reserve Bank, in a move welcomed as a signal of stability by global investors.The S&P 500 rose 0.92% …
Read More »Powell’s Reappointment, No Change of Jockeys in the Middle of Race
Jerome Powell is set to serve a second term as chairman of the Federal Reserve. Under Powell, consumers can expect the central bank to maintain its patient stance regarding inflation and interest rates.Biden praised Powell and the Fed for decisive action that cushioned the impact of the Covid-19 pandemic. In …
Read More »Dubai TV Interview, Nov. 22, 2021
Speaking on Dubai TV, Monday, Mohamed Hashad, Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts, shed light on a number of developments in the markets this week: European Stocks Hashad commented on how markets would deal today with concerns over …
Read More »US Pres. Biden Nominates Jerome Powell as Fed Chair
White House announced on Monday that Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden. Lael Brainard, who reportedly was the other top candidate for the position, will become the new vice-chair, the press release further revealed.
Read More »Weekly Recap 15-19 November
It is becoming more and more obvious that the current historic inflation levels have ignited growing calls to speed taper. The US Federal Reserve is setting the scene for a new debate between hawkish and dovish approaches regarding the stimulus withdrawal, tapering and interest rate hike. Major peers, such as …
Read More »EUR/USD Sharply Drops On Lockdown News
The EUR/USD pair considerably fell Friday, dropping below the 1.13 level as coronavirus infections in Europe are getting worse every day. Rising inflation combined with a deteriorating pandemic and ultra-dovish ECB policy, in terms of tapering stimulus are among multi factors leading to a lockdown inflation spiral, eventually getting out …
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