American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
Daily News: Tuesday, February 6
Tuesday brought news from different spheres. Do not miss them!
- The Black Monday! On Monday, February 5, the Standard & Poor’s 500-stock index fell more than 4%. It was the biggest fall of the stock market since 2011. The reason is hidden in the central bank loosening policy, that helped to supercharge stock prices before. However, recently central banks started to cut some of the supports, some of them even faster than was anticipated, that is why the fall happened.
- US equities fall caused the further drop in the oil market. Crude futures are slowing down for the third day achieved as much as 1.3% fall. WTI is surviving its 3-day drop with the price of $63.83. Brent is traded at the price of $67.22.
- Australian stability. The Reserve Bank of Australia announced interest rates for the first time this year, and as expected it remains unchanged at the level of 1.5%. The RBA said that such level of the interest rates supports the economy of Australia and the rising AUD would lead to inflation and worse economy effects.
- More data from Australia. Retail sales and trade balance data was published ahead RBA Rate statement. Both showed negative figures. Trade balance turned to a deficit despite the expected surplus, retail sales are less by 0.3 percentage points. Not good for AUD. AUD/USD spiked down to 0.7830 before recovering to 0.7885.
- Bitcoin is near $6000! Bitcoin plunged to $5.992 during the Asian session. It is supposed that new regulatory shakes affected it. Bloomberg said that two US controlling companies are going to ask Congress to consider federal supervision for digital-currency trading platforms. So new restrictions are shaking Bitcoin even more. Read the Bitcoin technical analysis here
- News for NZD traders. The Global Dairy Trade starts today at 14:00 MT time. Do not miss!
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…