Source: Bloomberg Eonia swaps have shown that European Central Bank’s rates will go up by over one basis point in a years’ time. EURUSD is up 0.16% The rise will be the highest reading in more than two years, further from six months back when the market was set for 10 basis points of easing.The change in expectations is fueled by optimism of economic recovery as … [Read more...] about ECB’s Deposit Rate To Rise Over One Basis Point Over A Year As Recovery Takes Shape
Forex News
On-demand Aluminum Dislodges Copper As The Second-Best Performer On LME
Prices of aluminum have surged more than 21% this year, enabling it to overtake copper as the second-best gainer on London Metal Exchange. Aluminum futures are currently up +0.56%. HG1! is up +1.46%. With 18% gain, copper now trails aluminum as the second-best performer to leading metal tin, which has surged 48% this year. The gains in aluminum have been fueled by a … [Read more...] about On-demand Aluminum Dislodges Copper As The Second-Best Performer On LME
Japan’s Nikkei 225 Gains over 3% as Asia-Pacific Shares Recovers
The Nikkei 225 increased by 3.12% to close at 28,884.13, leading to a significant recovery from the previous week’s drop of more than 3%. Nikkei 225 gains +3.15%, SSE Composite Index gains +0.80%, Hang Seng Index dips -0.63%, Kospi gains +0.71%, ASX 200 gains +1.48%. The Japanese markets contributed to the overall improvement in share prices in Asia-Pacific region.The … [Read more...] about Japan’s Nikkei 225 Gains over 3% as Asia-Pacific Shares Recovers
Fed’s Chair Says Inflation on Course Towards Central Bank’s 2% Target
Source: Bloomberg Fed’s chair Jerome Powell said inflation has accelerated but expects it will return to the 2% target as supply stabilizes. SPY is up 1.43%, EURUSD is down 0.20%. The remarks came from Powell’s written testimony to the House Select Subcommittee on the pandemic crisis quoting increased oil prices and spending as the economy reopens.Investors will … [Read more...] about Fed’s Chair Says Inflation on Course Towards Central Bank’s 2% Target
GBP/USD Turns Bearish After Hawkish As U.S. Indices Remain Under Pressure
The U.S. dollar turned bullish on Thursday following a hawkish FED report that signaled rate hikes.The British pound remains under pressure amid a resurgent greenback also weighed down by COVID-19 concerns.EUR/JPY also turned bearish amid euro weakness and the Japanese yen that continues to hold firm against the major.Concerns about rate hike are the catalysts weighing heavily … [Read more...] about GBP/USD Turns Bearish After Hawkish As U.S. Indices Remain Under Pressure
