News

Easy come, easy go. Equities are starting to show signs of struggling once again now in European morning trade. European indices are seeing gains chipped away while US futures have also turned a little lower. I’ve been saying it since last week that while there is scope for some breathing room, let’s not forget what

Malaysian palm oil futures eased on Wednesday after a three-session rally, weighed down by demand worries after top buyer India allowed duty-free imports of competing soy and sunflower oils. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 54 ringgit, or 0.83%, to 6,428 ringgit ($1,464.24) a tonne by

New Zealand Dollar rises broadly today after an hawkish RBNZ rate hike, which suggests that interest rate could peak higher than earlier projected. Australian and Canadian Dollars are also generally firmer. On the other hand, Euro is starting to lose some upside momentum again, struggling to ECB driven rally. Swiss Franc and Sterling are soft

The Reserve Bank of New Zealand is expected to raise the OCR by 50bps to 2.00% with OIS fully pricing a 50bps hike. RBNZ have delivered four consecutive rate hikes and even surprised markets with a larger than expected 50bps increase last month. Front-loading of tightening is expected to continue with inflation at a 32-year

Gold prices touched a more than one-week high on Monday, as an easing dollar supported greenback-priced bullion, although rising U.S. Treasury yields capped gains. FUNDAMENTALS Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90. The dollar began the week

Sterling fall broadly today after much worse than expected PMI data raises concerns of recession ahead. On the other hand, Euro jumps as ECB officials continued to talk up July rate hike, while PMI data were solid. Still, the best performer today so far is Yen, which is supported by receding risk-on sentiment. Dollar is

The window is certainly closing for the BOE to hike rates, as the UK economy pretty much grinded to a halt in May according to the PMI data here. Surging inflation pressures are weighing significantly on demand conditions and that is not helping to ease fears of a looming recession in the UK, one that

TOKYO: Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing’s promises of stimulus. Brent crude futures for July slid 35 cents, or 0.3%, to $113.07 a barrel by 0122 GMT.

The moves in the financial markets are so far rather indecisive. While US stocks rebounded overnight, Asian indexes turned softer. Dollar and Yen are recovering slightly after yesterday’s selloff. Commodity currencies are retreating. European majors are mixed. While Euro and Sterling advanced against the greenback, there is no follow through buying so far. Technically, EUR/USD

After 8 straight weeks of declines in the Dow industrial average and 7 straight weeks of the declines in the S&P and NASDAQ indices, starting a new trading week with solid gains is something to cheer about. Will the streaks be broken this week? So far so good. A look at the major indices shows

MELBOURNE – Oil prices rose in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a barrel at 0126 GMT,

Euro rises broadly today after hawkish comments from ECB President Christina Lagarde. But so far, Aussie and Kiwi are even stronger on positive risk sentiment. On the other hand, Dollar and Yen are both trading generally lower. Sterling, Swiss Franc and Canadian are mixed for now. Technically, Gold also extends the rebound from 1786.65 short

The US dollar is the weakest performer as we get things going in the new week. The more positive risk appetite in markets isn’t helping with sentiment in the greenback but the technicals also point to some retracement after the action last week. The dollar saw its first weekly decline in seven last week, as

Benchmark iron ore futures in China surged some 7% on Monday, tracking their biggest daily jump in two-and-a-half months, after India increased export duties on some commodities to rein in broadening inflationary pressures. Asia’s third-largest economy raised export duties for iron ore and steel intermediates, with new iron ores and concentrates tariffs increased to 50%

Overall market sentiment is mixed in Asian session today, with recover seen in Nikkei but selloff in Hong Kong and China. Aussie is extending near term rebound, following Labor’s win in the federal elections over the weekend. Kiwi is also firmer ahead of RBNZ rate hike. On the other hand, Dollar and Canadian are the

Middle Eastern media citing the Financial Times Saudi Arabia plans to continue its Opec+ partnership with Russia despite western pressure on Moscow and a potential EU ban on Russian oil imports. Prince Abdulaziz bin Salman, the energy minister, told the Financial Times that Riyadh was hoping “to work out an agreement with Opec+ . . . which includes Russia”,

Incumbent Prime Minister Scott Morrison conceded defeat Saturday evening. His LNP coalition lost 20 seats, including several high profile MPs. Australian Treasurer Josh Frydenberg lost his seat, a seat held by the conservatives for generations; for 120+ years up until Saturday. Frydenberg lost to an independent. Labor leader Anthony Albanese will form a new Australian

Russia has banned nearly 1,000 Americans, including President Biden, Vice President Harris, and many others from the US administration, from entering the country. This comes in response to the US support of Ukraine. From a Foreign Ministry news release: “In the context of response to the constantly imposed anti-Russian sanctions by the United States and