Blackrock, the world’s largest money manager, from their “2023 Global Outlook”. It builds on views expressed here: It’s a long piece, I’ve pulled out this snippet. We expect to turn more positive on risk assets at some point in 2023 – but we are not there yet. What matters most, we think, is how much
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Oil prices ticked down on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand in the world’s second-biggest oil consumer. The scale of the latest outbreak and doubts over official data prompted some countries to enact new travel rules on Chinese visitors, even as China began dismantling the world’s
Yen is under some persistent selling pressure since yesterday, following rebound in US benchmark yields. Aussie and Canadian Dollars are the stronger ones on commodity and oil prices, but Kiwi is lagging far behind. Euro is the stronger European majors while Sterling and Swiss Franc are on the softer side. Dollar is mixed for now
EUR/USD is facing pressure as fresh Covid measures taken by various nations for arrivals from China trigger volatility. Absence of recovery signs from S&P500 futures after a two-day sell-off portraying risk-off mood. The United States will require all travelers from China to show a negative Covid report, effective from next week. The EUR/USD pair has
The USDCAD has spiked higher helped by: Lower oil. Crude oil is trading down $1.69 at $77.86. The high price was at $79.85 today Lower stocks. The major indices are all trading lower on the day with the NASDAQ down -0.80%. That has led to a move out of risk Higher yields. The two yield
The major European stock indices are closing the day mostly lower. The exception is the UK’s FTSE 100 which saw gains on the day, but is all of its highs. The UK FTSE 100 was up 73.98 points at its peak. It is closing with the gain of around 29 points. A look at the
Gold price fell by Rs 5 to Rs 55,124 per 10 gram in the national capital on Wednesday amid a fall in precious metal prices in overseas markets, according to Securities. In the previous trade, the yellow metal had settled at Rs 55,129 per 10 gram. Similarly, silver also slipped Rs 332 to Rs 70,048
Yen’s selloff continues today, so are the rallies in US and European benchmark treasury yields. While the cap on 10-year JGB yields was raised earlier this month, there is still a cap. On the other hand, market sentiments appeared to be boosted by relaxation of outbound travel in China. Additionally, BoJ’s Summary of Opinions indicated
A screen displays the Fed rate announcement as a trader works on the floor of the New York Stock Exchange (NYSE), November 2, 2022. Brendan McDermid | Reuters The global economy likely faces a decade of sluggish growth, according to Daniel Lacalle, author and chief economist at Tressis Gestion. Economies around the world have been
EUR/USD makes a run to weekly highs and retreats. Pair now closer to the daily low as US yields rise. Equity markets turn negative, oil sinks. The EUR/USD failed to break the current range despite hitting the highest level in 13 days. The pair peaked at 1.0675 and then pulled back. It is trading at
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China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as
CNN had the info ICYMI, an announcement from Taiwan’s President Tsai Taiwan will extend the period of mandatory military service for all eligible men from four months to a year the new conscription period will be implemented at the start of 2024 will apply to men born after 2005 Taiwan’s Defense Ministry: all conscripts under
Oil prices climbed on Wednesday as markets were optimistic about fuel demand recovery as China continues to ease its COVID-19 restrictions. Brent futures for February delivery rose 31 cents to $84.64 a barrel, a 0.4% gain, by 0117 GMT. U.S. crude advanced 22 cents, or 0.3%, to $79.75 per barrel. Amid the optimistic market mood
Yen and Dollar are trading mildly lower in quiet trading in Asia, which is not totally back from holiday yet. Australian Dollar is the stronger one, followed by other commodity currencies and Sterling. On the other hand, Euro and Swiss Franc are on the softer side. Market activity will remain generally subdued this week, with
AUD/USD has sensed barricades around 0.6750 as the US Dollar Index has also attempted a recovery. A sheer decline in the US International deficit displays the impact of the Fed’s tight monetary policy. Scrapping of quarantine rules for inbound travelers in China will ease supply chain disruptions. The AUD/USD pair is facing pressure in overstepping