Australia’s 10-year yield hit 1.4% (75 basis points) higher than the rates accrued in 2019.US GDP grew at an annualized adjusted rate of 4.1% (0.1%) less than estimates.The rise in commodity prices may alter Australia’s currency levels and steer inflation targets. In early trade on February 25, 2021, the AUD/USD trading pair gained a three-week high of 5.32% from 0.7569 on … [Read more...] about AUD/USD: The Australian Dollar Poised to Rally with Rising Commodity Prices
Forex News
US Unemployment Claims Fall To Three-Month Lows
U.S. unemployment claims fell to three-month lows in the previous week, albeit still higher than pre-pandemic levels, data released by the Labor Department showed. Seasonally adjusted unemployment benefits fell 111,000 to 730,000 at February 20, the lowest since 716,000 at November 28, 2020. This is higher than 282,000 before the peak of COVID-19 on March 14, 2020 .Prior … [Read more...] about US Unemployment Claims Fall To Three-Month Lows
NZD/USD Targets 0.7557 After The RBNZ Interest Rate Decision
The NZD/USD pair rallied for the fifth consecutive day as investors reflected on the latest Reserve Bank of New Zealand (RBNZ) interest rate decision and the ongoing rally of treasuries. The pair rose to a high of 0.7380, which is the highest it has been since February 2018. It has risen by more than 35% from its lowest level last year. RBNZ interest rate decision The New … [Read more...] about NZD/USD Targets 0.7557 After The RBNZ Interest Rate Decision
Pound’s Bullish Run Takes it Past $1.40 for First Time Since 2018
The pound surged past $1.40 for the first time in almost three years. According to Bloomberg, the rise was fueled by optimism of U.K's rapid vaccine rollout, which could pave the way for an economy reopening this year. The pound is projected to enter the sixth week of gains after the U.K hit targets of immunizing its top four priority groups by February 15.Petr Krpata, a … [Read more...] about Pound’s Bullish Run Takes it Past $1.40 for First Time Since 2018
EU Manufacturing Rises to a 36-Month High. Offsets Service Sector Weaknesses
Eurozone Manufacturing PMI rose to a 36-month high of 57.7 in February, up from 54.8 in January, according to IHS Markit press release. The manufacturing strengths helped to offset the weakening service sector, whose activity index fell to a 3-month low of 44.7 from 45.4 in January. Flash Eurozone PMI Composite Output Index rose to a 2-month high of 48.1 in February from … [Read more...] about EU Manufacturing Rises to a 36-Month High. Offsets Service Sector Weaknesses
