You want to pay attention to the US dollar in the week ahead, as the reserve currency closed the week with strength, catalyzed by positive US economic data. Technically the USD also looks attractive. The strength of the greenback made risk-on currencies close the week negative. However, most stock indices still managed to end the week positive, including being wrecked … [Read more...] about The Outlook on USD Strength Amid Changing Risk Sentiment
Forex News
US Job Openings Hit Record-High. Separations Little Changed
Source: Bureau of Labor Statistics Job openings in the United States hit a record-high in June, with the quits rate up during the period. Job openings grew by 590,000 to 10.1 million. This is the highest on record.The biggest growths were seen in professional and business services, retail trade, and accommodation and food services.Hires increased to 6.7 million to reflect … [Read more...] about US Job Openings Hit Record-High. Separations Little Changed
Yellen Reiterates Call for Congress to Hike Debt Limit
Source: Reuters Treasury Secretary Janet Yellen reiterated her call for American lawmakers to increase the $28.5-trillion debt limit, warning of economic harm if left unchanged. Yellen said Congress should act urgently as it has in the past, as this could cause another shutdown of the federal government or a debt default.The Secretary called it a “shared responsibility,” … [Read more...] about Yellen Reiterates Call for Congress to Hike Debt Limit
China’s Factory Inflation Surges to 9% in July
Source: National Bureau of Statistics China’s factory inflation accelerated faster than expected in July, with firms already fighting to keep up with increasing raw material prices. Factory inflation surged 9.0% year-on-year, higher than the market consensus of 8.8%.The acceleration was driven by higher prices of oil and coal. The People’s Bank of China downplayed … [Read more...] about China’s Factory Inflation Surges to 9% in July
Gold Strained by Concerns of Scaled-Down Monetary Stimulus
Source: Bloomberg Gold prices fell on early Monday trading, as investors considered the possible tapering down of monetary stimulus by the US Federal Reserve. Spot bullion fell over 4% or $60 in a matter of minutes before paring down losses.The initial drop tapered down, with the bullion down 1% to $1,745.31 an ounce by 12:20 p.m.Prices are still hovering among four-month … [Read more...] about Gold Strained by Concerns of Scaled-Down Monetary Stimulus
