This year, UK private-sector employers are planning to give staff a basic annual pay leap of 2…
Daily News: Monday, February 26
The US dollar could not continue its last week rise. Let’s look why.
- Tomorrow Mr. Powell will give his first speech as Federal Reserve Chairman (15:30 MT time). As traders are anticipating clues on US monetary policy, the US dollar is losing its positions. Powel seems to continue the Yellen policy, so the Fed will increase interest rates gradually.
- As the US dollar started Monday with the fall against the currency basket, the euro could stay steady. EUR/USD pair is rising, however, it is still moving in the channel of 1.2260-1.2360. The volatility is anticipated to continue until March 4, when results of two important for the EU elections (Italian parliamentary and German coalition) will be announced. Moreover, today we waiting for the ECB President speaks at 16:00 MT time that may affect the pair as well.
- The yen is appreciating against the US dollar again. The first reason is the dollar’s decline. The second one is hidden in the speech of the BOJ Governor Mr. Kuroda. He said that he has no plan to review the BOJ’s monetary policy. So the quantitative easing is continuing. The pair is near 106.5, moving to the crucial level of 106.
- Other currencies are also appreciating against the US dollar, however, no important events are anticipated in next couple of days.
- Gold is appreciating based on the US dollar’s decline too. Gold could recover after the worst week in more than two months. It is trading above 1340 an ounce.
- Oil was near its three-week highs supported by comments of Saudi Arabian Oil Minister. He hopes that the OPEC and its allies will be able to create frameworks to stabilize oil markets after the end of the output cuts policy at the end of 2018. So 2019 will bring an easing of the production constraints. However, oil is under the risk because of the worries over US crude production. Oil is already declining. So the volatility is high.
- Bitcoin is continuing to fall. It fell below an important level of $9,500 and now is trading near it. The next support lies at $8,300, so it has a long way to recovery. However, Bitcoin recently attracted new investors because of volatility on the stock market. So there are good chances for Bitcoin to come back above $10,000.
The UK’s key inflation rate rallied in February, although stayed close to January's two-year minimum, assisting customers to preserve their spending power even as Brexit was still uncertain…
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…