The USD/JPY recent rally has paused as investors continue to watch the performance of the bond market and the upcoming review by the Bank of Japan (BOJ). The pair is trading at 109.20, where it has been for the past few days. Japan has responded to the pandemic well The Japanese economy has been relatively resilient during the coronavirus pandemic. While the country’s … [Read more...] about USD/JPY Forecast Ahead of the BoJ Interest Rate Decision
Forex News
Canadian Consumer Price Index Rose at a Faster Rate in February
Canadian Price Index rose at 1.1%, faster than January’s 1.0%, according to Statistics Canada press release. On a seasonally adjusted monthly basis, the CPI rose 0.1% in February. Gasoline prices supported consumer price growth, recording 5.0% gains on a year over year basis.Gasoline prices increased for the third consecutive month, up 6.5% in February compared to … [Read more...] about Canadian Consumer Price Index Rose at a Faster Rate in February
IEA Does Not Expect Global Oil Demand to Hit Pre-Pandemic Level Until 2023
Global oil demand will not return to pre-pandemic levels until 2023, according to the International Energy Agency report. IEA expects growth to be subdued thereafter amid new working habits and a shift away from fossil fuels. IEA projects fuel consumption to average just over 101 million barrels a day in 2023, fully recouping the 9 million a day lost last year during … [Read more...] about IEA Does Not Expect Global Oil Demand to Hit Pre-Pandemic Level Until 2023
Euro Under Pressure Amid Third Wave COVID-19 Concerns. AUD Shrugs off RBA Disappointment
The euro remains under pressure amid growing concerns over the third wave of coronavirus infection, which could trigger Germany's lockdowns.On the other hand, the British pound continues to hold firm amid increased optimism about economic recovery ahead of the BOE meeting on Thursday.Gold appears to have regained its status as a header against rising inflation, having found … [Read more...] about Euro Under Pressure Amid Third Wave COVID-19 Concerns. AUD Shrugs off RBA Disappointment
Homebuilder Confidence Takes a Hit from Higher Interest Rates and Material Costs
The Housing Market Index fell 2 points to 82 in March, according to the National Association of Home Builders press release. The index was weighed down by rising interest rates and costs for materials, especially lumber. The builders' index in March 2021 is higher than 72 recorded in March 2020 but below a record high of 90 in November. Supply shortages and high demand … [Read more...] about Homebuilder Confidence Takes a Hit from Higher Interest Rates and Material Costs
