FX Street, Author at Forex Crunch https://www.forexcrunch.com/blog/author/fxstreet/ Forex Trading with a Personal Touch Mon, 21 Jun 2021 12:52:37 +0000 en-GB hourly 1 https://wordpress.org/?v=6.8.3 https://www.forexcrunch.com/wp-content/uploads/2021/08/ForexCrunch-favicon-1.svg FX Street, Author at Forex Crunch https://www.forexcrunch.com/blog/author/fxstreet/ 32 32 USD/CAD retreats further from two-month tops, slides to 1.2400 neighbourhood https://www.forexcrunch.com/blog/2021/06/21/usd-cad-retreats-further-from-two-month-tops-slides-to-1-2400-neighbourhood/ Mon, 21 Jun 2021 12:52:37 +0000 https://www.forexcrunch.com/usd-cad-retreats-further-from-two-month-tops-slides-to-1-2400-neighbourhood/ USD/CAD edged lower on Monday and snapped four days of the winning streak. A turnaround in the risk sentiment prompted some profit-taking around the USD. A modest uptick in oil prices underpinned the loonie and contributed to the slide. The USD/CAD pair edged lower through the mid-European session and dropped to fresh daily lows, closer...

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]]> ECB’s McCaul: Seeing exuberance in asset valuations in certain segments of equity markets https://www.forexcrunch.com/blog/2021/06/21/ecbs-mccaul-seeing-exuberance-in-asset-valuations-in-certain-segments-of-equity-markets/ Mon, 21 Jun 2021 12:46:41 +0000 https://www.forexcrunch.com/ecbs-mccaul-seeing-exuberance-in-asset-valuations-in-certain-segments-of-equity-markets/ “Low interest rates are forcing a search for yield, easier access to credit is available which is, of course, is good unless it becomes excessive and contributes to an untenable credit risk environment,”  European Central Bank supervisor Elizabeth McCaul said on Monday. “We also see exuberance in asset valuations in certain segments of the equity...

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]]> US: Chicago Fed National Activity Index improves to 0.29 in May from -0.09 https://www.forexcrunch.com/blog/2021/06/21/us-chicago-fed-national-activity-index-improves-to-0-29-in-may-from-0-09/ Mon, 21 Jun 2021 12:41:36 +0000 https://www.forexcrunch.com/us-chicago-fed-national-activity-index-improves-to-0-29-in-may-from-0-09/ Chicago Fed National Activity Index edged higher in May. US Dollar Index stays in the negative territory above 92.00. The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) improved to 0.29 in May from -0.09 (revised from 0.24) in April.   “The CFNAI Diffusion Index,...

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]]> Thailand: BoT seen on hold this week – UOB https://www.forexcrunch.com/blog/2021/06/21/thailand-bot-seen-on-hold-this-week-uob/ Mon, 21 Jun 2021 12:26:37 +0000 https://www.forexcrunch.com/thailand-bot-seen-on-hold-this-week-uob/ Lee Sue Ann, Economist at UOB Group, comments on the upcoming BoT event later this week. Key Quotes “We continue to observe that policy space remans very limited, while fiscal policies will likely do the heavy lifting in supporting economic growth.” “We keep our call for BoT to leave its benchmark rate unchanged at 0.50%...

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]]> UK PM Johnson’s spokesman: Committed not to increase rate of income tax https://www.forexcrunch.com/blog/2021/06/21/uk-pm-johnsons-spokesman-committed-not-to-increase-rate-of-income-tax/ Mon, 21 Jun 2021 12:06:37 +0000 https://www.forexcrunch.com/uk-pm-johnsons-spokesman-committed-not-to-increase-rate-of-income-tax/ British Prime Minister Boris Johnson’s spokesman reiterated on Monday that the government made a commitment not to increase rates of income tax, as reported by Reuters. “The government is committed to the triple lock on pensions,” the spokesman further added. Market reaction These comments don’t seem to be having a noticeable impact on the British...

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]]> S&P 500 Index: Break of support at 4170/68 to clear the way for a test of the 4142 mark – Credit Suisse https://www.forexcrunch.com/blog/2021/06/21/sp-500-index-break-of-support-at-4170-68-to-clear-the-way-for-a-test-of-the-4142-mark-credit-suisse/ Mon, 21 Jun 2021 11:56:41 +0000 https://www.forexcrunch.com/sp-500-index-break-of-support-at-4170-68-to-clear-the-way-for-a-test-of-the-4142-mark-credit-suisse/ The S&P 500 Index has broken support from its uptrend from last October and price support at 4170/68, clearing the way for a test of the 63-day average at 4142, the Credit Suisse analyst team reports. Initial resistance seen at 4189   “S&P 500 is coming under increasing pressure following the failure to clear our...

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]]> GBP/USD steadily climbs back closer to 1.3900 mark, fresh session tops https://www.forexcrunch.com/blog/2021/06/21/gbp-usd-steadily-climbs-back-closer-to-1-3900-mark-fresh-session-tops/ Mon, 21 Jun 2021 11:56:38 +0000 https://www.forexcrunch.com/gbp-usd-steadily-climbs-back-closer-to-1-3900-mark-fresh-session-tops/ GBP/USD witnessed some short-covering move on Monday amid a modest USD bullish. A turnaround in the risk sentiment prompted profit-taking around the safe-haven USD. The Fed’s hawkish shifts should help limit the USD downside and cap gains for the pair. The GBP/USD pair built on its steady intraday ascent and climbed to the 1.3900 neighbourhood,...

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]]> ECB’s Centeno: All analyses indicate rising inflation is temporary https://www.forexcrunch.com/blog/2021/06/21/ecbs-centeno-all-analyses-indicate-rising-inflation-is-temporary/ Mon, 21 Jun 2021 11:31:38 +0000 https://www.forexcrunch.com/ecbs-centeno-all-analyses-indicate-rising-inflation-is-temporary/ European Central Bank (ECB) policymaker Mario Centeno noted on Monday that all analyses indicate that the rising inflation in the euro area is temporary, as reported by Reuters. “There is no evidence that the Pandemic Emergency Asset Purchase Programme (PEPP) will end before March 2022,” Centeno added. Later in the session, ECB President Christine Lagarde...

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]]> WH Press Sec. Psaki: Biden to discuss infrastructure deal with lawmakers https://www.forexcrunch.com/blog/2021/06/21/wh-press-sec-psaki-biden-to-discuss-infrastructure-deal-with-lawmakers/ Mon, 21 Jun 2021 11:21:40 +0000 https://www.forexcrunch.com/wh-press-sec-psaki-biden-to-discuss-infrastructure-deal-with-lawmakers/ White House Press Secretary Jen Psaki told CBS on Monday that US President Joe Biden will talk to lawmakers and welcome some of them to the White House over the next couple of days to discuss the infrastructure deal, as reported by Reuters. “It is a positive sign that democrats, republicans continue to negotiate,” Psaki...

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]]> UK PM Johnson: This will be a difficult year for travel https://www.forexcrunch.com/blog/2021/06/21/uk-pm-johnson-this-will-be-a-difficult-year-for-travel/ Mon, 21 Jun 2021 11:01:38 +0000 https://www.forexcrunch.com/uk-pm-johnson-this-will-be-a-difficult-year-for-travel/ British Prime Minister Boris Johnson noted on Monday that the cases of coronavirus’ delta variant is still going up and added that they need to be cautious with regards to easing restrictions. However, Johnson also noted that the data is looking good for lifting the curbs on July 19. “This will be a difficult year...

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