Posts Tagged ‘news’

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Investors Rush to Buy USD

On Wednesday at the opening of the American trading session, the US dollar continues moving upwards. Concerns over the consequences of the financial crisis in Turkey contribute to the greenback's rally. Escalation of the trade conflict with the United States makes safe haven more attractive to investors. Particularly, 10-year bonds are in high demand, which provides support to the US dollar. The Turkish Vice President said on Wednsday that an increase in tariffs is a counter measure to Donald Trump's […]

UK Inflation Data Makes no Difference

The investor sentiment has barely changed and traders continue to buy the US dollar. The most popular currency pair is approaching the level of 1.13, coming closer to the yearly high. Today, the Eurozone will not release any key economic reports, so the single European currency is trading lower against the greenback. The more so, market participants pay little attention to macroeconomic statistics. They prefer to buy safe haven assets […]

USD Hits 13-Month High

Today, the US dollar remains trading at a 13-month high against the basket of major currencies amid lingering tensions between the US, Turkey, and other countries. The US dollar index touched 96.80. The US currency is winning favor with investors because the greenback is higher yielding than other safe haven currencies. On Friday, the US President Donald Trump announced the decision to double steel and aluminium tariffs on Turkey. In response, Ankara […]

Cryptocurrencies to Win Back Losses

After a sharp drop, prices of cryptocurrencies are making efforts to regain earlier losses. On bitfinex trading floor, bitcoin surged by over 5% to trade at above $6,400 a token. Experts say that the rally in the cryptocurrency market is propelled by expectations of an important event. In June, a US investment company in tandem with developer of crypto assets applied to the US Security and Exchange Commission for the establishment of a crypto fund. The Commission delayed taking a decision until […]

USD Set to Extend Gains

In early deals on the New York Stock Exchange, quotes were trading lower but they were set to increase gains. The Dow Jones rebounded from the local low at 25,200. Besides, the S&P 500 futures added almost 0.38%, while the NASDAQ Composite held steady at 7,830 points. So far, there have been no new developments in relations between the Uinted States and Turkey. Donald Trump decided to impose additional […]

EUR and GBP Likely to Trade Lower for Long

In the European session, the US dollar is still trading at a 13-month high against the basket of major currencies. The EUR/USD pair is consolidating at around 1.14. Traders are in no hurry to buy the single European currency even despite upbeat macroeconomic data from the Eurozone. According to the preliminary data from Eurostat, the Eurozone''s GDP eased less than estimated to 2.2% in the second quarter on a yearly basis from 2.5% growth a quarter ago. […]

Oil and Ruble Trading with Same Bias

By the end of the trading day on Monday, oil prices surged amid the news about a decline in the oil output in Saudi Arabia. Yesterday, the monthly OPEC report showed that the oil cartel revised downwards, its outlook for the demand. It triggered a massive selloff in oil futures. However, the subsequent news about a decrease in production in Saudi Arabia of 200,000 barrels per day offset the negative impact of the previous news. The Brent Crude Benchmark rose […]

Trump Sets New Goals

The US dollar is trading with higher volatility against its rival currencies amid political jitters, sparked off by the protectionist rhetoric of Donald Trump. In the Wall Street session, the US dollar index again showed a downward gap of almost 110 pips. However, the index closed the North American session at about 96.21. On Monday, the US President approved a massive defense policy bill of 2019. It authorizes a budget of $716 billion. […]

USD in Demand amid Turkey’s Financial Crisis

On early Monday, the US dollar index was holding at the highest level in over a year. Later on Monday, the index was still trading at about 96.40. The US currency is gaining ground across the board on the back of escalating political tensions between the US and Turkey. In the European trade, the single European currency was weighed down by the stronger greenback. However, in the late European trade, the EUR/USD pair was able to recover from a 13-month low […]

Turkish Lira Pulls Euro Down

The European session started with a sell off of the euro. Investors remain deeply concerned about a risk of a crash of the Turkish financial system. The EUR/USD pair was trading at 1.1380. Market participants fear that the recent plunge in the Turkish currency may have an adverse impact on major European banks. The ECB officials say that this uncertainty can influence financial institutions in Spain, France, and Italy. Amid that, traders prefer to buy […]