Key takeaways from last week. Australia’s GDP surprised by a decline in the 3rd quarter, printing 0.2% (2.1% annually). Compared to expectations, the main disappointment in the quarter was consumer spending, which was flat in Q3 after rising just 0.1% in Q2. Per capita consumption growth is in the region of -2.0% per annum, second … Read more
By Amanda Cooper LONDON, Dec 7 (Reuters) – The euro hit a three-week low on Thursday, driven by growing expectations that the European Central Bank (ECB) may cut rates as early as March. the prospect of a shift in Japanese politics gave the yen its biggest one-day boost since January. Falling inflation, a slowdown in … Read more
The kyat fell further against the US dollar after the junta-controlled Central Bank of Myanmar (CBM) announced it would no longer set rates on its online foreign exchange trading platform. The online trading program was launched in June to facilitate interbank and customer dollar transactions. At the time, CBM insisted that the program operated at … Read more
Points for discussion: Why have gold prices plummeted? Daily chart analysis 4-hour chart analysis What’s next for gold prices? Why have gold prices plummeted? The price of gold fell significantly last week after reaching an all-time high of $2150/Oz, the price fell to $2020/Oz in one day, leaving many traders stunned and unable to understand … Read more
By Ankur Banerjee SINGAPORE, Dec 7 (Reuters) – The euro fell near a three-week low on Thursday as traders boosted bets that the European Central Bank (ECB) will start cutting rates from March next year, while the dollar was steady ahead of key wages data later this week. euro EUR = EBS rose 0.05% to … Read more
By Samuel Indyk and Ankur Banerjee LONDON, Dec 6 (Reuters) – The U.S. dollar hit a two-week high on Wednesday, while the euro was broadly weak as markets raised bets that the European Central Bank will cut interest rates as early as March. euro EUR = EBS fell 0.2% against the dollar to a three-week … Read more
Employment statistics continued ahead of Friday’s US jobs report. Today there was a change in ADP employment by 103 thousand compared to the expected 130 thousand. Recall from yesterday that JOLTs job openings showed a larger than expected decline (weaker employment). On Friday, US nonfarm payrolls are expected to show a gain of 185,000 from … Read more
By Hannah Lang and Samuel Indyk WASHINGTON/LONDON, December 6 (Reuters) – The US dollar touched a two-week high on Wednesday, while the euro was broadly weak as markets raised bets that the European Central Bank (ECB) will cut interest rates as early as March. Although markets are still pricing in at least 125 basis points … Read more
(Updated at 09:09 GMT) By Samuel Indyk and Ankur Banerjee LONDON, Dec 6 (Reuters) – The dollar held near a two-week high on Wednesday, while the euro was broadly weak as markets raised bets that the European Central Bank will cut interest rates as early as March. The euro fell 0.1% to $1.0783 against the … Read more
As of July 14, India’s foreign exchange (forex) reserves stood at $609 billion. They hit a recent low of $583.5 billion on October 20 before rising slightly again to $597.9 billion on November 24. What explains this yo-yo behavior? Mint examines the ups and downs of the rupee: As of July 14, India’s foreign exchange … Read more
