Source: Reuters Turkish lira fell almost 3% against the dollar on Thursday, with investors getting concerned over the unorthodox policies by the state to spur growth and increase exports. USDTRY is currently up +2.04%. Surging inflation has seen the lira continue to fall against the dollar, with the government already having slashed the key rate by 500 basis points since … [Read more...] about Lira Weakens Again as Global Reserves Hit the Lowest in Two Decades
Forex News
US Jobless Claims Up for Second Straight Week
Source: US Labor Department Unemployment claims in the United States continued to grow in the first week of the year, marking the second straight week of increases. DXY is down 0.24%, while Gold is down 0.21%. Seasonally adjusted initial claims for the week ending January 8 increased by 23,000 to 230,000, from the previous week’s unrevised 207,000.The four-week moving … [Read more...] about US Jobless Claims Up for Second Straight Week
European Debt Sales Hit Record Highs Ahead of Anticipated Rate Hike
Source: Bloomberg European debt market sales hit a fresh record-high, as borrowers flocked ahead of the anticipated interest rate hike. EZU is up 0.08% premarket. Bond sales hit $107 billion, surpassing the previous record set in 2020 when firms increased their borrowing ahead of the COVID-19 pandemic.Among the borrowers that increased funding for the week is Portugal, … [Read more...] about European Debt Sales Hit Record Highs Ahead of Anticipated Rate Hike
AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
CPI release fails to lift bearish sentiment around the US dollar.Rising commodity prices propel the Australian dollar.Investors keep their eyes on rising Covid-19 infections, US jobless claims, and PPI data. The AUDUSD pair was marginally high on Thursday, as the US dollar struggled to find its footing after two days of losses. At the time of writing, AUDUSD was going for … [Read more...] about AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
Crude Oil Inventories Continue to Decline as Refinery Inputs Slip Further
Source: EIA Crude oil inventories of the United States continued to decline, in line with the steady decline of refinery inputs. Inventories for the week ending January 7 stood at 413.3 million barrels, down 4.6 million barrels from the previous week. This is 8% below the five-year average.Declines were seen in the inventories of propane/propylene, which fell by 3.4 … [Read more...] about Crude Oil Inventories Continue to Decline as Refinery Inputs Slip Further
