Stocks could be in for a higher opening on Friday, as indicated by the trading in the index futures. Key economic data will have a bearing on the day’s market direction, although conviction in the potential move could be less due to the thin trading volume that is characteristic of pre-holiday trade.
The Russian rouble plunged to its weakest level in over seven months against the dollar on Monday and was on the path to its biggest single-day drop since July.
Billionaire investor and founder of Pershing Square Holdings, Ltd. (OTC: PSHZF) Bill Ackman has revealed he has a large notional short position against the Hong Kong dollar saying the
Ghana's government is negotiating a new policy regime where it will use its gold rather than its U.S. dollar reserves to buy oil products, Vice-President Mahamudu Bawumia said in a Facebook post on Thursday.
The U.S. dollar commenced the week on a strong note, with the dollar index rising 0.53% to 107.49, boosted by defensive buying as investors weighed in on a spike in COVID-19 cases in China.
It’s one of the many effects of the rise in interest rates in the United States:
The Japanese yen has fallen to a 32-year low versus the dollar. The government in Tokyo will not allow its 10-year yield to rise above 0.25% — it’s a government finance policy mandate — so global investors avoid it in favor of the U.S. 10-year rate at 4%.