Dollar Shines Amid Passing of $1.9 trillion Stimulus Bill, Robust Jobs Data

EUR/USD Daily Chart The US dollar gained against its major rivals in early trading on Monday, following a better than expected employment report and after the Senate passed a $1.9 trillion coronavirus relief package. Meanwhile. the rise in Treasury yields unsettled investors in the stock market. US job growth spiked in February as hiring in … Read more

Gold Slips to 9-Month Lows Ahead of Nonfarm Payrolls

Gold fell to its lowest levels since last June in early Friday trading. The move came as the US dollar was boosted by remarks from Federal Reserve Chair Jerome Powell on Thursday. Powell reiterated his intention to continue with easy-monetary policy, but did not signal an intention to suppress the rise in Treasury yields. Rising … Read more

Copper Soars to Near Decade High Amid Economic Recovery Hopes

Copper futures climbed higher on Tuesday, reaching the highest levels since August of 2011. The price of copper, the world’s most important industrial metal, has more than doubled since the lows posted last March. The boom in electric vehicle manufacture along with copper’s other electrical uses have sparked the interest of investors. Goldman Sachs recently … Read more

Sterling Extends Gains on Johnson Plan

GBP/USD rose to fresh multi-year highs in early trading on Tuesday, amid optimism over Prime Minister Boris Johnson’s four-step plan to end UK lockdown restrictions by June 21st. The announcement was made in a speech to parliament on Monday, and followed up by televised press conference in the evening.

Crude Oil Consolidates After Reaching 13-Month High

WTI crude oil (live chart) reached its highest levels since January of 2020 in Monday trading, but pulled back to close the day lower. News of COVID-19 vaccine rollouts and the $1.9 trillion US stimulus package boosted crude oil over the past week, as optimism over economic recovery crept into the market. In addition, crude oil … Read more

Sterling Bulls Eye 1.40 Amid Vaccine Optimism

GBP/USD rallied sharply in early trading on Monday to its highest levels since April of 2018, reaching above $1.39 and drawing closer to the major psychological level of $1.40. The pair was boosted by a weaker US dollar and optimism over a faster than expected UK economic recovery from the damage caused by the Coronavirus … Read more