Forex News

Gold (XAU/USD) fell 1% on Friday as risk-off mood and stellar US Markit Manufacturing PMI boosted the US dollar. Despite the decline, the yellow metal managed to close the week above the $1850 level, booking the first weekly gain in three weeks. Expectations of a massive US fiscal stimulus under the Biden administration kept the…

Major US equity bourses closed the final trading day of the week in the red. A number of factors were cited as being behind the more defensive equity market tone. Stocks were given a mild boost following much stronger than anticipated preliminary January US Markit PMI numbers. Major US equity bourses closed the final trading…

AUD/USD trades above lows of the day set during the European morning just above 0.7700. Soft retail sales and a risk-off market vibe weighed on the Aussie on Friday. AUD/USD is consolidating just above lows of the day that were set during the European morning just to the north of the 0.7700 level. Helping the…

US President Joe Biden, speaking to the press on Friday evening, said that there is nothing we can do to change the trajectory of the pandemic in the next several months, reported Reuters. The economic crisis is deepening, added the President, who said that Americans who are seeing their paychecks reduced are barely hanging on. …