Gold price finally broke the previous month high of $1760 after the 10-year US Treasury yields dropped to the fresh monthly low. If the bullish momentum continues the next key upside levels to watch $1780 and $1800.
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Chinese shares traded higher following the mixed Chinese economic...
Bitcoin jump above $64,000 level for the first time on Wednesday ahead of the listing of Coinbase IPO (NASDAQ: COIN) the largest US trading platform for cryptocurrencies. Coinbase stock ended its first day at $328 per share. On Tuesday, the Nasdaq set a reference price of $250 a share but the...
The New Zealand dollar climbed to a new fresh week high of 0.7115 on Wednesday after the RBNZ meeting. The central bank left the key benchmark rate unchanged at 0.25%, reassuring that it is ready to lower rates further if needed. RBNZ Monetary Policy Committee noted the continued uncertainty in...
UK GDP increased by 0.4% following a 2.2% decline in January while the figures missed the market estimates of 0.6%. On the other hand, UK manufacturing and industrial production numbers came better-than-expected. The British pound rose to a fresh session high of 1.3764 after the release of...
February Eurozone retail sales reported stronger than expected. The sales rose 3.0% percent after a 5.2 percent slump in January and compared with market expectations of 1.5 percent growth. The EURUSD bounced back above 1.1900 following the strong retail sales data.
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US stock futures...
China consumer price index (CPI) increased by 0.4 percent year on year in March, data from the National Bureau of Statistics (NBS) showed Friday. Meanwhile, on a month-over-month basis, the inflation declined to -0.5% from 0.6%. On the other hand, the producer prices rose by 4.4 percent...
Tech giants Microsoft, Facebook and Alphabet shares climbed to new heights on Wednesday. Social media company Facebook (NASDAQ: FB) shares hit a new all-time high of $314 and the stock is up more than 13% since the beginning of the year. While Microsoft (NASDAQ: MSFT) and Alphabet (NASDAQ...
Eurozone and Germany reported better-than-expected March service PMI data. While the UK services PMI came below the forecast. Moving ahead to the North American session, Canada will release the latest Ivey PMI figures.
UK services PMI – Actual: 56.3 Forecast: 56.8 Previous: 49.5
Eurozone...
The EUR/USD slightly retreated from the daily highs after the Eurozone unemployment rate came above the forecasts. The unemployment rate came at 8.3% in February 2021, above market expectations of 8.1%.
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Wall Street ended higher on Monday boosted by strong ISM service PMI data, both...
The British pound trading strong against the US dollar and Euro on Monday boosted by the fastest vaccination figures in the UK. In the UK, the number of people vaccinated passes 5 million. On Saturday, the country reported the lowest number of daily Covid deaths since mid-September.
“We've...
U.S. President Joe Biden announced $2.3 trillion worth of spending to be spread out over an 8-year period including $621 billion for transportation and $580 billion for manufacturing. Biden’s bill includes $111 billion to provide broadband access nationwide and provide better wages and benefits...
The UK food delivery giant Deliveroo shares plunged 30% on its stock market debut on Wednesday. At the time of writing, the Deliveroo shares trading at £3.06 on the London Stock Exchange, around 22% below its initial public offering price of £3.90. The company share price opened at £3.02 and...
The US dollar index rose to a fresh year high while the Dow Jones climbed to a new record high on Tuesday ahead of confirmation of President Biden’s infrastructure package on Wednesday. Biden expected to announce an infrastructure plan that is expected to cost more than $3 trillion.
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Crude oil prices slightly rebounded from the early session lows. During the Asian session, the oil prices fell after the re-floating of the Ever-Green vessel that was stuck along the Suez Canal. The container ship Ever Given has been partially floated and straightened in the Canal.
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EURUSD bearish momentum continues for the fourth consecutive day. The currency pair hits a fresh yearly low of 1.1760 on Thursday. The recent sell-off fuelled by rising COVID-19 cases and the extension of restrictive measures across Europe.
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Wall Street ended higher on Thursday...
US Dollar extends higher ahead of the final Q4 GDP data which is set to be released at 12:30 GMT. At the time of writing, the Dollar index trades at 92.66.
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Global stocks trading lower on concerns about the coronavirus pandemic in Europe and escalating tensions between the Western...
US dollar hits fresh year high on Wednesday against a basket of most major currencies. The safe-haven currency climbed to above 92 on Tuesday after Treasury Secretary Yellen said the Biden administration was considering boosting the corporate taxes from the current 21% to 28% as the economy...
On Monday, the National Association of Realtors (NAR) data showed the US Existing Home sales fell 6.6% in February to a seasonally adjusted annual rate of 6.22 million. Moving ahead to the North American session, the US new home sales data are set to be released later in the day. Analysts expect...
On Monday, during the Asian session, the People's Bank of China (PBoC) left its benchmark interest rates unchanged, as widely expected. The one-year loan prime rate (LPR) was left unchanged at 3.85%, while the five-year remained at 4.65%.
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Global stocks and US futures trading lower on...
Crude oil prices dropped more than 8% this week and on Thursday, the West Texas Intermediate Crude oil price fell 7% that marked its largest daily percentage loss since September. The recent sell-off fuelled by a slowdown in the European vaccine rollout and a “third wave” of COVID-19 is being...
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