Quick Look Real wages in the UK fell by 1.3% in February, continuing a near two-year decline. Nominal wages rose by 1.8% but were outpaced by a 2.8% inflation rate. The Bank of England ended its zero-rate policy to stimulate economic growth. Wage negotiations this year marked historic increases, potentially boosting real wages. The labour …
Quick look FTSE 100 slightly down by 0.1%, closing at 7,669.23 points. Mixed finishes across Cboe UK indices with small gains and losses. Investors’ focus on upcoming US inflation data and UK economic readings. Notable stock movements: Marks & Spencer up 1.9%, Ferrexpo falls 27%. Brent oil and gold prices saw an increase at the …
Quick look February’s NFP numbers exceeded forecasts but were offset by significant downward revisions to January’s figures. The unemployment rate rose to 3.9%, and average hourly earnings growth slowed, suggesting a cooling labour market. The US dollar weakened, impacting GBP/USD to hit a 2024 high and gold, reaching a new record. Upcoming US CPI and …
The U.S. dollar got strong support in Asia on Thursday due to soaring Covid-19 cases. As a result, it recovered some of the gains lost in the previous session. On Wednesday, the greenback tumbled down as Federal Reserve chair Jerome Powell declared that he isn’t going to withdraw policy support anytime soon. The greenback climbed …
USD Rebounded Thursday while GBP Fell Ahead of Reopening Read More »
The USD/EUR pair hit a three-month high on Wednesday, while the USD/JPY pair skyrocketed to a one-week high. Rising U.S. inflation had traders betting on a faster monetary policy tightening than U.S. Federal Reserve officials hinted thus far. Meanwhile, the New Zealand dollar soared by more than 1%, with NZD/USD pair trading as high as …
USD/EUR Hit a Three-Month High. What about Other Currencies? Read More »
Forex markets remained on edge on Tuesday ahead of the U.S. inflation data. Investors think that it may provide clues about the timing of the Fed’s stimulus tapering and rate hikes. Last month the Federal Reserve surprised markets by suddenly announcing that it was considering rate hikes and tapering of stimulus aid. That announcement boosted …
USD fell slightly Tuesday as traders waited for Fed’s data Read More »
The EUR/USD continued its downtrend in the Asian session on Thursday morning. The pair traded near the multi-month low, around 1.1795, for a while. However, currently, it stands at 1.1790, higher by 0.01% for the day. The U.S. Dollar Index remained steady at a 13-week high against six major rivals on Thursday, despite the Federal …
EUR, USD, JPY, GBP, AUD, NZD, CNY Forecast for Thursday Read More »
The EUR/USD pair remained red on Wednesday, suffering from mild downside momentum on the four-hour chart. It is trading below the 50, 100, and 200 simple moving averages on the four-hour chart currently. However, EUR/USD has rebounded from the previous multi-month low of 1.1808. Below 1.1808, the pair’s next support lines are at 1.1760 and …
EUR/USD, USD/JPY, and GBP/USD Forecast for Wednesday Read More »
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