US must act big on next coronavirus relief package – Janet Yellen
Janet Yellen, former Federal Reserve chair and President Joe Biden’s nominee to run the Treasury Department, will tell Senate Finance Committee on Tuesday that the government must ‘act big’ with the next Covid-19 relief package, with…
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Signs of China’s economic recovery boost risk sentiment and lift stocks
Fresh risk appetite on signs of China’s economic recovery lifted Asian stocks on Tuesday, while European stock markets opened higher.
Investors expect that China’s economic strength would help underpin growth in the region after data on…
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Gold bounces on stimulus hopes but facing strong technical barriers
Spot gold bounced from new 1 ½ month low ($1803) posted in early hours of Monday’s trading as comments from US Treasury nominee Janet Yellen that the US does not seek weaker dollar, slowed greenback’s recovery.
Expectations of new fiscal…
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US dollar extends recovery on risk aversion, traders eye Biden’s FX policy
The US dollar extends recovery from Jan 6 low (the lowest since Apr 2018) and hit five-week high against the basket of major world currencies on Monday.
Fresh risk aversion across currency markets lifts the greenback, with comments from…
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Aussie falls to two-week low
The Australian dollar stays in red for the second consecutive day and falls to two-week low on Monday, weighed by fading risk sentiment and higher greenback on comments that the US does not seek weaker dollar.
Fresh extension lower is…
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Top formation risks deeper pullback
Cable extends lower in early Monday, following 0.75% drop on Friday, pressured by profit-taking after repeated failures at 1.3700 zone and comments from US Treasury nominee Yellen that US does not seek weaker dollar.
Fresh weakness broke…
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China’s economy ends 2020 in solid shape as recovery accelerated in Q4
China’s economy ended turbulent 2020 in solid shape as growth accelerated above expectations in the fourth quarter.
Gross domestic product grew 6.5% in Q4, from 4.9% in Q3 and beating expectations for 6.1% growth, while the economy grew…
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US retail sales fell for a third straight month in December
US retail sales fell further in December, adding to signs that the economy ran out of steam at the end of 2020.
Data from US Department of Commerce, released on Friday, showed retail sales dropped 0.7% in December, above November’s…
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Bearish bias remains below broken Fibo support at 1.2173
The Euro stays in red on Friday and pressures new one-month low as bears regain traction after Thursday’s hesitation, expressed by daily Doji candle.
The action remains under broken Fibo level (1.2173, 23.6% of 1.1602/1.2349) that keeps…
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Biden unveils plan for $1.9 trillion stimulus package
The US President-elect Joe Biden outlined a $1.9 trillion stimulus package in efforts to jump-start the economy and accelerate the distribution of vaccines to bring coronavirus under control.
In his campaign last year, Biden promised to…
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