The US dollar is experiencing mixed fortunes. What trajectory is the greenback likely to take ahead of the Fed’s Jackson Hole symposium? We evaluate the possibilities. The Jackson Hole Fed meeting is the most awaited news and could shape up USD action.The Covid-19 pandemic has slowed down investor confidence, but FDA vaccine approvals have given the economy a boost.Germany’s … [Read more...] about EURUSD Outlook: Marginal Swings Likely in Favor of the USD
Forex News
Demand for US Treasuries Hits a Record as Central Bankers Reallocate Reserves
Source: Bloomberg Global funds received $15.4 billion of the total $41 billion 10-year Treasury notes sold in August, representing a more than a decade record 38% share. US 10 Year Treasury Yield is currently 1.292%. The increased sales of treasury notes have been linked to central banks’ persistent bidding as they reallocated their forex reserves as Treasury bills fell … [Read more...] about Demand for US Treasuries Hits a Record as Central Bankers Reallocate Reserves
CADJPY Outlook: Canada’s Vaccination Mandates Pull the Dollar Ahead of Elections
Canada’s vaccination rate against Covid-19 reached 65.7% after 24.7 million people were fully vaccinated.Canada’s retail sales increased 4.2% in June 2021 (MoM) to C$56.2 billion. Factory activity in Japan weakened in August 2021 to 52.4% in August 2021 from 53.0% realized in July 2021. The CADJPY pair added 0.61% as of 3:23 am GMT on August 23, 2021, from the previous … [Read more...] about CADJPY Outlook: Canada’s Vaccination Mandates Pull the Dollar Ahead of Elections
US Home Sales Increased for the Second Consecutive Month in July
Source: National Association of Realtors Sales of existing homes in July increased by 2% from June to an annualized rate of 5.99 million units. DXY down -0.41%, EUR USD up +0.34% The sales data are based on closings so it reflects contracts signed in May and June. Sales were 1.5% higher than July last year.Sales are likely improving because of rising supply. The inventory … [Read more...] about US Home Sales Increased for the Second Consecutive Month in July
American Private Sector Output Falls to Eight-Month Low in August
Source: IHS Markit American private-sector output fell to an eight-month low in August, dragged by supply issues and the spread of the COVID-19 delta variant during the period. The IHS Markit Flash Composite PMI Output Index fell for the third straight month to 55.4 in August from 59.9 in July. This is the slowest seen so far this year.The Services Business Activity Index … [Read more...] about American Private Sector Output Falls to Eight-Month Low in August
