The British pound has been notably strong over its peers recently. Will that lead to quick exhaustion of bulls? Not really. Read the article to know why.
Tag - gbp
Yesterday, S&P surged to the all-time high of 3960, driven by Biden’s $1.9 trillion relief bill. Today the stock index has taken a break. Meanwhile, the US dollar is edging higher today, pressing down its peers.
“Help is here,” Biden tweeted as the House passed the much-awaited $1.9 trillion COVID-19 relief bill.
The US is set to deliver $1.9 trillion stimulus. Nasdaq retreated after Monday’s deep slump. Oil dropped because of an attack on the crude terminal in Saudi Arabia.
Wow! There are so many events happening right now in the Forex market. Jump in to know!
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
S&P made a significant dip down while the WTI oil price moves upward this Thursday; we are expecting news from the OPEC+ about the oil supply increase. Will it go higher or lower than expected? That'll eventually drive the oil price in either direction - prepare your levels.
Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
Risk assets are recovering after a losing streak in the previous week as progress in the extra US stimulus package improved the market sentiment.
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The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.