On Friday, investment bank Goldman Sachs stated that the U.S. dollar’s peak has to be expected for more than one financial quarter. Analysis of historical cycles showed that the dollar most often reached its peak level when there was a significant slowdown in the global economy.
On Monday, Finance Minister Shunichi Suzuki said the government would take a responsible approach to conduct economic and fiscal policy. In addition to this, the head of Japan's Finance Ministry urged lawmakers to submit the extra $206 billion budget plan.
The week began with a rapid growth of the U.S. dollar. The positive dynamics of the currency occurred due to purchases of protective assets, as investors' concerns after a spike in cases of COVID-19 forced officials to tighten restrictions.
On Saturday, the president of the Federal Reserve Bank of Atlanta, Rafael Bostic, noted that he was ready to speak out against rate hike of 0.75% at the next Fed meeting. He advocates slowing the pace of interest rate increases, with no more than 1 percentage point of hikes, to combat inflation.
After closing below the $1,750 level last week, the price of gold is considered vulnerable, especially amid hawkish comments from the Fed and coronavirus problems in China strengthening the U.S. dollar.
Less than a year after retiring, Bob Iger returns to Disney as CEO.
According to Equitrans Midstream Corp., the leak of natural gas that occurred at the Rager Mountain Storage facility in Jackson was liquidated on Monday. According to preliminary and conservative estimates, 100 MMcf/d had been bursting.
European traders are rushing to fill their tanks with Russian diesel. The aim is to replenish stocks before the EU imposes a ban on its imports in February. However, the Eurozone countries have virtually no alternative sources of diesel supplies.
On Saturday, court filings revealed that cryptocurrency exchange FTX owed its top 50 creditors at least $3 billion. Earlier this month, the cryptocurrency giant filed for bankruptcy in the US, seeking court protection.
Demand for the U.S. dollar is recovering, causing the GBPUSD to start the week in a bad way. Ahead of the Bank of England's speech, the pound is being
