Dollar index rises to three-week high, fueled by global risk aversion
The dollar index rose further on Thursday, as strong bullish acceleration was fueled global risk aversion amid worsening situation with Covid-19 pandemic in the US and Europe as well as rising uncertainty over talks about new US stimulus…
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US economy makes record growth in third quarter
The US economy grew at its fastest pace on record in the third quarter, as the government’s $3 trillion stimulus package strongly boosted consumer spending.
According to data released by the Commerce Department on Thursday, gross…
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Crude oil collapses on growing demand fears
WTI oil extends steep fall into second day, being down 4.5% so far today, after 4.1% drop on Wednesday.
Today’s bearish extension broke below key support at $36.11 (08 Sep low) and hit new 4 ½-month low at 35.35.
Fresh weakness was…
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The Euro remains under pressure and could fall further on dovish ECB
The Euro remains at the back foot on Thursday, holding in red for the fourth straight day, after Wednesday’s action was rejected above pivotal Fibo support at 1.1714 (61.8% of 1.1612/1.1880) and subsequent bounce and narrow consolidation…
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ECB open to further stimulus as recession fears grow
The governing council of the European Central Bank is widely expected to keep policy unchanged during their meeting today, as well as set the stage for further easing in December as fears grow over a new recession.
The recent surge…
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Turkish lira hits record lows against the dollar and the Euro
The Turkish lira hit a new all-time low against the dollar and the Euro on Tuesday, falling to below 8.1 versus the greenback and below 9.6 versus the single currency.
With ongoing geopolitical issues and an economy devastated by the…
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Wall Street drops amid political uncertainty and surge in Coronavirus
Wall Street shares fell sharply on Monday amid mounting worry over a strong rise in COVID-19 cases, as well as fading chances of a new US stimulus package.
Threats of a further slowdown in the US’s economic recovery hurt risk…
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