The EUR/USD is up 0.28% on Wednesday, solidifying a positive trend that started in late March 2020. Over the past year, the pair has gained 10.98% and 0.91% year to date. Also, the pair has shown considerable volatility, with the 52-week range being 1.0636 to 1.2346.Coronavirus remains a significant influence on market sentiment. The Presidential elections, together with this … [Read more...] about EUR/USD Is Edging Towards A New Five-Year High, Could This Happen This Week?
Forex News
Private Sector Employment Shed 123,000 jobs in December
U.S private sector employment declined by 123,000 jobs from November to December, the first decline since April, according to PR Newswire press release. The job losses, mainly concentrated in retail, leisure, and hospitality, underlined the pandemic's impact on the labor market. By Company SizeMedium businesses added 37,000 jobs.Small businesses shed 13,000 Large businesses … [Read more...] about Private Sector Employment Shed 123,000 jobs in December
Eurozone Private Sector Contracted for a Successive Month in December-IHS Markit
Eurozone PMI Composite Output Index was 49.1 in December to remain in the contraction zone according to IHS Markit press release. The contraction was for a second successive month and remained below the earlier flash reading of 49.8 despite improving from November's 45.3 level. Final Services Business Activity Index improved from November’s six month low of 41.7 to … [Read more...] about Eurozone Private Sector Contracted for a Successive Month in December-IHS Markit
U.S 10-Year Treasury Yield Rises to 1%, the First Time Since March
U.S 10-year Treasury yield hit 1% for the first time since March in overnight trading on Tuesday, amid Senate runoff in Georgia, reports CNBC. The benchmark rate breached the key psychological level, while the yield on the 30-year Treasury bond also traded higher. After surpassing the 1% psychological level, analysts expect the 10-year Treasury yield to spend time in the … [Read more...] about U.S 10-Year Treasury Yield Rises to 1%, the First Time Since March
Oil Rises 4% on OPEC+ Output Talks, Iran Tensions
Oil prices rose more than 4% on Tuesday as OPEC+ neared a compromise to hold crude production steady in February, according to Reuters. The prices were also supported by tensions around OPEC member Iran's seizure of a South Korean vessel claiming the latter owed it $7 billion. Brent crude futures rose $2.15, or 4.2%, to $53.24 a barrel by 11:10 a.m. EST while the U.S. … [Read more...] about Oil Rises 4% on OPEC+ Output Talks, Iran Tensions
