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.
Tag - jpy - japanese yen
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.
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The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
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.
On Tuesday, the USD advanced against the so-called “safe-haven” currencies: the Swiss franc and the Japanese yen
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.
We have an aggressive GBP, recovering USD, bullish WTI oil, and some interesting moves in the stock market. Watch out those levels!
Riskier currencies such as the GBP, NZD, and AUD skyrocketed to multi-year highs. 10-year Treasury yields rose to the highest level in almost a year. Oil tries to rebound from its previous week's losses.