The lower-than-expected employment in November, as released by the Automatic Data Processing (ADP) on Wednesday, dragged the DXY below the 91 barrier, down by 0.22%.
With the US Dollar Index falling by about 2.4% in November, the prices of the dollar against major currencies went down across the board.
On Tuesday, the GBP/USD closed higher 0.8% with a rally of more than 6% off the September lows.
As expected in my earlier column titled Gold Prices Set to Decline on Vaccine Shocks, positive news of Covid-19 vaccines continues to hit gold prices.
On Monday, OPEC+ postponed its talks until Dec. 3 after a split over delaying output hike.
Some users of WikiFX lately inquired whether Equityworld Futures was reliable and how was its business condition.
Last week's gold plunged $84.71, down 4.5%. The dovish Federal Open Market Committee's (FOMC) could underpin gold prices in the coming weeks, despite gold's recent setbacks.
Matthew Piercey, the man behind two investment companies – Zolla and Family Wealth Legacy was apprehended by FBI agents in Sacramento on charges of wire fraud, witness tampering, mail fraud and money laundering, which has misappropriated around $35 million worth of investor funds, as stated by the US court.
NZD/USD is set for its fourth week of gains in a row amid the falling likelihood of the RBNZ’s negative interest rates and the government’s improved pandemic control.
It is reported that the US Food and Drug Administration has scheduled a meeting of its Vaccines and Related Biological Products Advisory Committee on Dec. 10 to discuss the request for emergency use authorization of a Covid-19 vaccine from Pfizer.
The Office for Budget Responsibility (OBR) lately forecast that the UK’s GDP was on track for its worst year on record. As a result, GBP/USD received some pressure for a time but approached to 1.34 barrier after reclaiming the lost ground.
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WTI on Wednesday found some stability at $45.0 and climbed to an intraday high of $46.24, an eight-and-a-half-month high since Mar. 6.
The IMF projects that the global economy will shrink by 4.4% in 2020, followed by a 5.2% rebound in 2021, supporting a V-shaped recovery.
Gold prices traded lower to $1,825 on positive vaccine news.
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On Monday, WTI crude refreshed the recent high to $43.35 with an intraday gain exceeding 2%.
Many Forex traders ask what determines the value of a currency, and which are the elements that move with its change in the currency chart.
Recently, the US Treasury requested a cut in monetary policy. As a result, the decline of the dollar came to a standstill.
A recent probe by the financial regulatory authorities in Germany revealed that nearly half of the reviewed 40 brokers from seven European countries.
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