The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The U.S. dollar traded weak against its major counterparts on Monday with investors awaiting a slew of crucial economic data for clues about the outlook for interest rates.
Despite some hawkish comments from a few Fed officials in recent days, it is widely expected that the central bank will hold interest rates unchanged, and might consider reducing them by the second half of 2024.
After the November FOMC minutes revealed a cautious approach to future rate hikes, traders now await U.S. reports on new home sales, consumer confidence, pending home sales and manufacturing activity this week for additional clues about the outlook for growth and interest rates.
The Commerce Department's report on personal income and spending may be in the spotlight, as it includes readings on inflation said to be preferred by the Federal Reserve.
The Fed's favored measure of inflation is expected to slow to its lowest since mid-2021, reinforcing investor optimism that the Fed is done raising interest rates.
The U.S. GDP second estimate for the third quarter is set to be released on Wednesday.
The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, along with remarks by several Federal Reserve officials, including Chair Jerome Powell's speech on Friday, could impact the asset markets.
Data released by the Commerce Department today showed new home sales in U.S. pulled back sharply in the month of October after soaring in September.
The report said new home sales plunged by 5.6% to an annual rate of 679,000 in October after spiking by 8.6% to a downwardly revised rate of 719,000 in September.
Economists had expected new home sales to tumble by 4.5% to a rate of 725,000 from the 759,000 originally reported for the previous month.
The dollar index dropped to 103.19, losing more than 0.2%.
Against the Euro, the dollar strengthened to 1.0990 but shed gains and dropped to 1.0956 as the session progressed. The dollar weakened to 1.2626 against Pound Sterling, and against the Japanese currency, it eased to 148.64 yen a unit, declining more than 0.5% from the previous close.
Against the Aussie, the dollar was down at 0.6607. The Swiss franc firmed to 0.8807 a dollar, from 0.8827 a dollar. The dollar weakened to C$ 1.3616 against the Loonie, down from C$ 1.3635.
