The USDCAD is trading lower on the day after Reuters reported that the OPEC + alliance had decided to roll over the current production quotas over to April. Also, the report says Saudi Arabia is considering extending its voluntary production cut of 1 million barrels per day to May. This […]
The USDCHF continues to march higher as it hits 5-month highs. Credit Suisse analysts are predicting that the 0.9296/0.9330 price level could be a new target if the pair can breach the 0.9195/0.9208 price resistance zone. The analysts are not ruling out a move towards the 0.9498/0.9546 price levels as […]
The S&P 500 index is enduring a choppy start to the trading session, as investors juggle positions in response to the initial jobless claims data and the upcoming speech by US Fed Chair Jerome Powell. Data released by the US Department of Labour shows that the initial jobless claims came […]
The US Dollar continued to rally against gold prices as the Fed kept interest rates intact. Gold prices have ended the day 0.5% lower, after the US Dollar maintained its bullish push on Wednesday following the FOMC monetary policy meeting. The accompanying statement by the Fed had a switch in […]
Gold price is up sharply today as traders react to the Fed interest rate decision and the overall shift to alternative assets. XAU/USD is trading at $1,875, which is the highest it has been since November 20 this year. What happened: Gold is usually traded in dollars. It is also […]
The US Dollar is gaining broadly after the FOMC opted to leave rates unchanged at 0.25%. Additionally, the Fed is committing to use the “full range of its tools to support the economy”. Purchases of $40 billion worth of agency-backed securities and $80 billion a month in US government bonds will […]
The EURGBP pair could be an interesting one to trade this Thursday when central bankers meet via satellite on the ECB Forum on Central Banking. This online event, which began today, will end tomorrow with comments from the heads of the ECB, BoE and Federal Reserve. The key event will […]
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The Federal Reserve Banks of Atlanta and New York have released their US Q3 2020 GDP outlooks, and there is a significant difference in expectations. The Federal Reserve Bank of Atlanta expects the real gross domestic product (GDP) in the United States to rise by 32% in Q3 2020, according […]
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