Source: The Guardian The United Kingdom has agreed to a deal with Australia in what would be its first such trade agreement since the exit from the European Union. The trade deal was struck on Monday evening after a meeting between U.K. Prime Minister Boris Johnson and his Australian counterpart Scott Morrison. A spokesperson for the Department for International … [Read more...] about U.K. and Australia Trade Deal Broadly Finalized
Forex News
Consumer Inflation Expectations Posts Record-High 4.0% in May
Source: New York Fed Household expectations on inflation hit a record-high in May, while remaining largely optimistic on the labor market for the year ahead. Data from the Survey of Consumer Expectations show that assumptions on inflation for the next year increased for the seventh straight month to 4.0% in May to mark a fresh series high.The year-ahead expected change in … [Read more...] about Consumer Inflation Expectations Posts Record-High 4.0% in May
EUR/USD Weekly Forecast: Fed is the Only Game in Town
The EUR/USD is hovering near its lowest level in a month as investors reflect on the recent interest rate decision by the European Central Bank (ECB). They are also waiting for important economic data from the United States and the Federal Reserve decision. The pair declined to 1.2100, which was 1.37% below the highest level in May. ECB and US retail sales data The ECB … [Read more...] about EUR/USD Weekly Forecast: Fed is the Only Game in Town
Oil Price Hits Two-Year High on Renewable Energy Bets
Source: WSJ U.S. crude climbed to $71.48 a barrel on Monday as oil projects falter and money managers plan to instead pour trillions of dollars into renewable energy programs. Monday's price is the highest in over two and a half years and is double the level recorded in October.Analysts believe production will have a difficulty in catching up to demand which will continue … [Read more...] about Oil Price Hits Two-Year High on Renewable Energy Bets
Turkey and China Boost Currency Swap Arrangement With $3.6 Billion Deal
Source: Bloomberg Turkish President Recep Tayyip Erdogan over the weekend said the country inked a new $3.6 billion swap deal with China. The agreement will raise the cap on the current arrangement to $6 billion.The deal will enable Turkey to enhance trading relations with China in local currency and support central bank reserves by shying away from the dollar.Erdogan did … [Read more...] about Turkey and China Boost Currency Swap Arrangement With $3.6 Billion Deal
