The Japanese yen has extended its gains as USD/JPY trades at a 3-week low. In the North American session, USD/JPY is trading at 114.25, down 0.35% on the day. Will the yen break into 113-territory before the end of the week? Yen makes most of US dollar retreat The Japanese yen has jumped onto the currency […]
The New Zealand dollar has posted gains for a third straight day. Early in the North American session, NZD/USD is trading at 0.6886, up 0.56% on the day. The currency is on a tear, rising 1.62% so far this week. Strong risk sentiment boosts New Zealand dollar There was plenty of anticipation ahead of the […]
The British pound has extended its gains for a third straight day. In the European session, GBP/USD is trading at 1.3736, up 0.23% on the day. There are no tier-1 events out of the UK today, so market participants will have to wait until Friday for a data damp which includes the monthly GDP report […]
Oil extends rally on EIA drawdown Crude prices extended gains after oil inventories fell to the lowest levels since October 2018. The EIA crude oil inventory posted a larger-than-expected headline decline of 4.55 million barrels versus an expected 1.6 million draw. Both gasoline and distillate inventories rose as consumption decreased. Gasoline demand was weaker-than-expected and […]
US stocks initially rallied after the latest reading of consumer prices showed the biggest gains since 1982, but was nevertheless, in line with expectations. Â Wall Street was worried that a much hotter inflation report could have not only cemented four Fed rate hikes this year, but potentially made the May FOMC meeting a possibility for […]
