Connect with us

Forex

The US dollar rate today declines against the euro and pound and appreciates against the yen

letizo News

Published

on

US dollar rate today

The U.S. dollar rate today is falling against the euro and pound sterling in trading on Tuesday, but is strengthening against the yen.

“The cessation of Russian gas supplies to Europe means that the economy of Germany and the entire eurozone will immediately be in recession,” said Liberum Capital analyst Joachim Klement, cited by Bloomberg.

The European Central Bank (ECB) is expected to raise key interest rates on Thursday at once by 75 basis points (b.p.), which has never happened before in its history.

Dollar rate as at today – what’s going on?

The pound is supported by expectations that Liz Truss, who is due to formally take over as Britain’s Prime Minister, on Tuesday, will take steps to reduce the country’s energy crisis. According to Bloomberg, she is set to unveil a plan to limit electricity and gas price rises for ordinary consumers, which will cost the country’s budget 130 billion pounds over the next 18 months.

“The pound is strengthening on optimism that the impact of rising energy prices on the UK economy will not be as severe as expected,” notes National Australia Bank (ASX:NAB) analyst Ray Attrill in Sydney. – The size of the potential budget support means that the Bank of England will be able to accelerate monetary tightening to contain inflationary pressures.”

The euro was up 025% against the dollar to $0.9954 from $0.9929 at the close of the previous session. The exchange rate of the European currency remains near its minimum since December 2002 because of the continuing fears that the energy crisis in Europe will further accelerate inflation and push the region’s economy into recession.

The pound sterling had gained 0.43% by this time to $1.1566 compared to $1.1517 at market close on Monday. The day before, the rate of the British national currency fell to its lowest level since 1985.

The U.S. currency rate rose 0.46% to 141.24 yen, its highest since August 1998, from 140.60 yen at Monday’s close.

The ICE-calculated index showing U.S. dollar dynamics against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) added 0.08% on Tuesday, while the broader WSJ Dollar Index lost 0.04%. 

Earlier we reported that analysts predicted a recession for Germany.

Forex

Wall Street futures rise after the U.S. Fed meeting

letizo News

Published

on

the preservation of the Fed's discount rate

U.S. stock index futures are rising Thursday, trading data showed. Markets are assessing the outcome of the U.S. Federal Reserve (Fed) meeting.

The Dow Jones Industrial Average (DJIA) futures rose 0.22% to 32,329 points, the NASDAQ high-tech index rose 0.96% to 12,828.5 points and the S&P 500 broad market index rose 0.48% to 3,989.75 points.

The Fed on Wednesday expectedly raised its benchmark rate by 25 basis points to 4.75-5% per year. The regulator noted that it does not expect the rate reduction this year, but allows it next year. U.S. exchanges were down 1.6% in Wednesday trading.

According to the CME Group, 55.8% of analysts now expect the Fed’s discount rate to remain unchanged in May, while 44.2% expect it to rise another 25 basis points. Thus, markets concede that the Fed may interrupt the cycle of hikes that began last March.

At the same time, shares of cryptocurrency exchange Coinbase were down 10.6% in pre-bid trading. The exchange this week received notice from U.S. authorities of an impending charge of violating laws.

Later in the trading, statistics on initial jobless claims in the U.S. for the week through March 18 will be released. Analysts forecast that the figure would increase by 5 thousand to 197 thousand applications.

Earlier we reported that the US budget deficit was $262bn in February


Continue Reading

Forex

ITB (International Trading Brachium) Broker Announced Its YouTube channel

letizo News

Published

on

ITB (International Trading Brachium)

(Mahe, Seychelles-March 08, 2023) – ITB BROKER, LLC, an international forex broker, has announced that with our community growing, we believe that this will be the most effective medium to communicate with and so, we’re proud to announce the launch of ITB YouTube channel .

When a picture speaks a thousand words, How about a video?

  • Throughout our community building initiative, we strongly believe in video as our means of communication. Video has played a pivotal role in describing our futuristic services to our audience and in communicating our disruptive vision to potential traders or investors.
  • Over the next few weeks, we will be launching interesting videos on upcoming ITB features, bonuses, partnership or IB announcements and financial market expert interviews.
  • YouTube is a great place to pick up forex trading tips and learn how to use them in the real world.

There are a number of YouTubers that make great educational videos, perfect for beginners or those considering taking up forex trading. ITB group with over 10 years of financial experience provides you with useful tips and hints of forex trading via its  YouTube channel.

About ITB

ITB Broker or ITBFX is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services.

Founded in 2017, the company’s mission is to provide enthusiastic traders with access to the world’s largest and most liquid market by offering innovative trading tools, applying excellent trading platform, meeting strict financial standards, and striving for the best online trading experience in the market.

In addition, ITB offers educational courses on FX trading and Cryptocurrencies on academy section of ITBFX website.

Continue Reading

Forex

U.S. budget deficit totaled $262 billion in February 

letizo News

Published

on

U.S. budget deficit

According to a report from the U.S. Treasury Department, the U.S. budget deficit in February was $262,434 billion compared to a $38.8 billion deficit in January. The Dow 30 also had problems.

Analysts at DailyFX suggested that the nation’s budget deficit for February was expected to be $256 billion. A year earlier, in February, the U.S. posted a budget deficit of $216,590 billion.

According to the GAO report, U.S. government spending rose 3.5 percent year over year last month to $524.548 billion, while revenue, in contrast, declined 9.5 percent to $262,114 billion.

Earlier, the U.S. edition of the Washington Post published an editorial stating that the new draft budget proposed by the Biden administration undermines U.S. national security and its ability to invest in the future, because it suggests a further growth of the U.S. national debt.

The WP editorial board noted that the new draft budget assumes a $2 trillion budget deficit, including due to the high cost of providing health insurance to the elderly of the baby boomer generation.

Earlier we reported that the EU has agreed to reduce energy consumption by 11.7% by 2030.

Continue Reading

Trending

©2021-2023 Letizo All Rights Reserved