Currencies
Dollar index The dollar index that stayed weak in the first half of yesterday was lifted by the bulls resulting in a quick rally. Moreover, the overall trend is bearish, and the dollar index is hinting at the possibility of the dollar being dragged down. The rupee depreciated 23 paise to 72.92 against the US dollar in opening trade on Wednesday amid a muted trend in the domestic equity market and strengthening American currency. A stronger US dollar makes US-dollar priced crude more costly for buyers holding other currencies.
At the start of the year, speculators were betting on a fall in the dollar below 100 yen. Carrying over the positive momentum, the dollar index has begun with a gap-up today and is now trading near 90.65. A fall be 90.60 can result in a bearish day for the dollar. “I think the dollar’s downtrend is over.
At the start of the year, speculators were betting on a fall in the dollar below 100 yen. Carrying over the positive momentum, the dollar index has begun with a gap-up today and is now trading near 90.65. A fall be 90.60 can result in a bearish day for the dollar. “I think the dollar’s downtrend is over.
Metals
* Global copper smelting activity fell in January, led by Europe and North America, as pandemic lockdowns dampened industrial activity.
Oil
“This is one of the worst Mother Nature catastrophes I can ever remember while catching the oil complex wrong-footed at the supply levels,” Innes said.U.S.
United States
The widely followed nowcast of U.S. GDP kept by the Atlanta Fed suggests the economy is back to only inching forward:So why is so much being taken for granted? Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. Unheard of in the days when all Wall Street could say was “Buy”.
Europe
Ryanair Complaints | The EU’s lower court will rule on challenges by Ryanair to the Commission’s approval of airline aid in France and Sweden.
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