Zahir Shah

On Thursday, the U.S. Dollar rose to its highest level in more than two months against the Euro and the Yen. Pessimism on the U.S. economic outlook weakened ahead of the release of important labor market data. The GBP fell against the U.S. Dollar but traded around an eight-month high against the Euro ahead of […]

The economic downturn in the eurozone intensified in January as renewed restrictions aimed at curbing the coronavirus’s spread hit the bloc’s dominant services sector hard. Coronavirus cases are on the rise again, and governments across the continent have resumed harsh isolation measures, stifling public life and forcing hospitality and entertainment establishments to close their doors.

The U.S. Dollar moved near a seven-week high on Tuesday, capitalizing on a sell-off in the Euro. The day before, the single currency fell after bans imposed to fight the coronavirus reduced consumer spending in Germany. The squeezing of short positions on the U.S. Dollar also played a role since their number was too large.

Oil prices are rising after a weak start. However, scattered coronavirus vaccine deployments, new infections, and the discovery of new strains of the virus are casting a shadow over demand prospects.Brent crude oil futures rose 1% to $ 55.57 a barrel, while WTI crude oil futures rose 0.8% to $ 52.61. Both the instruments rose