Data and economists see stability in the forex market after the newest Omicron variant raised uncertainty. The panic of buying took the market, raising the level of illiquidity. As the crisis continued, the value of the Nigerian naira against other currencies fell, with the dollar catching new highs daily. The Central Bank of Nigeria and …
Stability in the forex market; What does data suggest Read More »
The foreign-exchange market managed to stabilize after the volatility on Friday. It resulted from signs that the new Omicron variant causes only mild symptoms and the need for vaccine reformulations. In early trading in Sydney, the U.S. dollar climbed moderately against the euro, yen, and pound. The South African Rand (where the new variant was …
Forex markets stabilize as Omicron panic subsides Read More »
On Friday, the South African rand dropped sharply against the dollar. It happened after detecting a new variant with many mutations in the country. Moreover, on Friday, during Asia trading hours, the currency dropped to 16.2392 against the greenback. Last time, it was trading around 1.7% weaker at 16.2216 per dollar. The losses began after …
South African currency fell concerning new Covid mutations Read More »
The Australian Dollar appears to be trading flat on Wednesday after being pressured by rising U.S. Treasury yields driving up the interest rate of the U.S. Dollar. The catalyst extended the process of increasing bets on a faster taper rate with a faster-than-expected rate hike. The renomination of Jerome Powell as a Fed Chair for …
At the Investors and Exporters (I&E) window, the exchange rate between the US dollar and the naira closed at N414.5/$1. Last Friday, the Nigerian currency gained more against the US dollar, representing a 0.11% appreciation than N414.7/$1 recorded the day before. The rate also gained in the prior trading session compared to the session that …
Nigerian currency takes gain as forex supply falls further Read More »
On Thursday, the dollar started decreasing from its 16-month high. At the same time, traders evaluated if the U.S. currency’s current surge had gone too far. Central banks fueled this surge after tightening expectations in the middle of surging inflation around the world. On Wednesday, the dollar index (which measures the currency against a basket …
On Thursday, the dollar went below a 16-month peak in Asian trade, decreasing in value against the New Zealand dollar after falling against the yen and the pound. It happened overnight as traders evaluated if the U.S. dollar’s recent surge was about to delay. On Thursday, the New Zealand dollar surged 0.39% to $0.7024 after …
On Wednesday, the Economic Times reported that India might bar cryptocurrencies usage for transactions or payments. However, it will allow people to hold assets like gold, shares, or bonds. The newspaper also stated that the approach would avoid executing a complete ban. However, the government was interested in stopping crypto firms, including platforms and exchanges, …
On Tuesday, the Euro is at a 16-month low. In the meantime, the dollar was steady while traders awaited U.S. retail sales data. A strong reading might add pressure on the Fed to increase rates and stoke inflation. During the Asia session, talks between U.S. President Joe Biden and his Chinese counterpart Xi Jinping …
EUR/JPY Price Analysis When the bears can enter the support level of $130, the price might decline further to $128 and $129 levels. When the bulls interrupt the bears’ force, it might raise the EUR/JPY price to break up the $131 level in which it might extend to $133 and $132 price levels. Key Levels: …
EUR/JPY Price Sticks $131 Level Down while Targeting $130 Read More »
On Friday, the dollar went higher for a 3rd consecutive day in a row since a surprisingly strong U.S. inflation print surprised markets. It also inspired investors to advance their bets on a U.S. rate hike. Five-year bond yields increased to a February 2020 high, with short-dated U.S. Treasury yields going higher. Investors increase bets …
On Thursday, the dollar surged to 16-month highs while the euro and other currencies started to decrease in value. The yen went back to its multi-year lows after the U.S. inflation. Last month, data showed that U.S. customer prices increased at their fastest annual speed since 1990. Traders think the Federal Reserve could react by …
The dollar surges to 16-month highs after U.S. inflation Read More »
On Tuesday, the dollar index fell in choppy trading. In the meantime, on Wednesday, investors expected data tor the next primary indicator of whether increasing-price constraints are stimulating. Data showed on Tuesday that the U.S. producer costs rose in October. This situation indicates that high inflation might continue for a while in the middle of …
Dollar falls before the U.S. inflation data release Read More »
In India, customers use banks or payment service providers for sending or receiving money globally. Also, while traveling overseas for holidays, some people spend in foreign currencies or sometimes withdraw money using ATM, credit, or debit cards. In this case, people always pay high fees without knowing. They always end up paying hidden fees for …
On Thursday, the pound dived after the Bank of England gave the impression that future hikes might not be as aggressive as markets had expected. It also decided not to change interest rates. The pound seemed to be performing well for a couple of weeks. Traders priced it in one hike this year and at …
GBP/JPY – Slides as the Bank of England Disappoints Read More »
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