The standoff in Ukraine continues to escalate, but the financial markets remain calm for now. The US and other western nations have slapped further sanctions on Russia after Moscow sent troops to two breakaway regions in eastern Ukraine. Despite this, investor risk appetite recovered on Tuesday, and the euro, which is extremely sensitive to the conflict in its...
The New Zealand dollar has climbed above the 0.68 level on Wednesday. In the North American session, NZD/USD is trading at 0.6816, up 0.65% on the day. The currency has jumped 1.09% this week. Volatility is the name of the game, at least in the month of December. With market participants eyeing Christmas and the markets marked by illiquidity, we have been seeing...
Last Friday, IHS Markit released the preliminary PMI data for four major economies. Below are the key points from the individual reports. United States Services sector slowed down to a 5-month low pace due to labour shortages. Manufacturing sector expanded at record high pace. Prices of goods and services remained steep as firms pass on the high costs to...
The Australian dollar has reversed directions on Wednesday and recorded considerable losses. In the European session, AUD/USD is trading at 0.7750, down 0.52% on the day. Investors gave the Aussie a thumbs down on Wednesday after Westpac Consumer Sentiment fell 4.8% in May. The trend of improving consumer confidence over the past three months was broken. Still, a...
The Canadian dollar is slightly higher on Friday. Currently, USD/CAD is trading at 1.2513, down 0.25% on the day. On the fundamental front, Canada will release tier-2 data, including Housing Starts. In the US, today's highlight is UoM Consumer Sentiment, which is expected to accelerate to 88.9 points. Canada's ADP job report has been bleak in recent months, with...
The consumer confidence index increased to 109.7 in March from 90.4 in February, which beat the economists' forecast at 96.9 Consumers’ assessment of short term outlook on salaries, employment rate and commercial activities increased , with an optimism view on the domestic consumption market MM Analysis The consumer confidence index reached 109.7 in March,...
Reversal imminent in my opinion. Not trading advice.