The Canadian dollar is strengthening against the US dollar, sending USDCAD lower.EURGBP pair is trying to break out of a tight trading range amid British pound weaknessUS indices ended the first half of the year at record highs registering double-digit gains.Ethereum bounces back from six-month lows has stalled with ETHUSD remaining under pressure. The US dollar is losing … [Read more...] about USDCAD Tanks on Oil Prices Boost As Silver Tries to Breakout
Forex News
Manufacturing Growth Cools in June
Source: Institute for Supply Management Manufacturing output expanded for the 13th straight month in June, albeit at a slower rate, on the back of supply shortages, commodity price hikes, and transportation issues. The Manufacturing PMI stood at 60.6%, slower than the 61.2 recorded in May. This is the 13th straight month of expansion since April 2020.All the six major … [Read more...] about Manufacturing Growth Cools in June
US Unemployment Claims Fall to Fresh Pandemic-Low
Source: US Labor Department American unemployment claims returned below the 400,000 level to mark a fresh pandemic low. DXY is down 0.03%, while GOLD is up 0.41%. Seasonally adjusted initial claims for the week ending June 26 declined by 51,000 to 364,000. This is the lowest since claims stood at 256,000 on March 14, 2020.The previous week’s level was revised 4,000 higher … [Read more...] about US Unemployment Claims Fall to Fresh Pandemic-Low
ECB to Lift Bank Dividend Limits by September
Source: Bloomberg The payout cap on European banks could be lifted by the end of September should conditions remain stable, according to European Central Bank President Christine Lagarde. Lagarde said the European System Risk Board could allow the cap to lapse as the vaccination rollout has boosted the economic outlook and reduced the possibility of “severe scenarios.”The … [Read more...] about ECB to Lift Bank Dividend Limits by September
Lumber Reverses From It’s All-Time High to Record a 40% Monthly Drop In June
Source: CNBC Lumber prices have plunged 40% in June, the worst monthly decline since 1978. The decline has elicited views that the mismatch between supply and demand was short-lived. LBS1! is down -5.90%. The decline in lumber prices came at the back of its all-time high of $1,670.50 per thousand board feet on May 7.Lumber is now down at least 18% this year and is … [Read more...] about Lumber Reverses From It’s All-Time High to Record a 40% Monthly Drop In June
