US data was disappointing with the lower-than-expected new Home Sales which declined 18.2% MoM in February, well below expectations of a 5.7% drop. ''Part of this drop reflects freezing weather conditions in February reducing activity in some parts of the US, alongside limited supply. The median sales price rose 5.3% YoY,'' said an Analyst. In [...]
Goldman Sachs says in a latest preview for Wednesday’s key Federal Open Market Committee (FOMC) meeting, “The Fed needs to see substantial further progress on employment and inflation to conclude that tapering is appropriate, which is unlikely to happen until the second half of 2021.” This report also says that the US central bank may [...]
USD/JPY stays firm. There revolves a positive sentiment for greenback as traders cheer US President Joe Biden’s passage of $1.9 trillion stimulus. Bulls are chained ahead of the key speech from US President. Recently the $1.9 trillion package has been approved to combat the coronavirus (COVID-19), There are also chatters taking place that US President [...]
The dollar has overcame losses against currencies on Thursday after soft data on U.S. consumer price data. U.S. core consumer prices had risen 1.3% year-on-year in February, a slight slowdown from a 1.4% annual increase in the previous month as per data showed on Wednesday. The dollar and U.S. Treasury yields have rose steadily due [...]
