Fundamental view: The American dollar has strengthened against the euro but it is ending the week unevenly against them. The US central bank made an announcement that it would begin winding down one of the emergency programs created to support the economy throughout the pandemic. "Portfolio sales will be gradual and orderly and will aim [...]
The yellow metal is trading low against the greenback due to Upbeat US macro data and uptick in the US bond yields. According to the ADP National Economic Report released Thursday, U.S. private-sector employment surged by 978,000 in May, this gain was above forecasts from economists with a record of 923,000 jobs. It is to [...]
The AUD/USD pair trades downside amid the release of both favorable and unfavorable Australian macroeconomic data. On Wednesday the country reported that Gross Domestic Product was up 1.8% QoQ in the first quarter of the year, much better than the 1.5% expected. Whereas Australia’s trade surplus has widened in April, increasing from $5.8bn to $8.0bn. [...]
EUR/USD made a drop on Wednesday amid downbeat retail sales data and uptick in the US Treasury yields. US dollar holds onto recent gains with higher yields, strong ISM Manufacturing PMI and covid concerns. German retail sales monthly report showed a fall in figure to -5.5% against the previous record of 7.7% and the forecast [...]
