Malaysian palm oil futures fell for a second straight day on Thursday, dragged by prospects of a resumption in sunflower oil shipments out of Ukraine, a development that could ease tightness in global edible oil supplies. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 53 ringgit, or 0.83%,
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The recovery in Dollar and Yen appeared to be rather short-lived, as overall risk sentiment was steady. FOMC minutes affirmed market expectations of 50bps rate hikes ahead, which is not news. That triggered little reaction in the greenback. As for today, Euro is regaining some ground together with Swiss Franc. New Zealand Dollar is the
The FOMC meeting minutes from the May 4th 50 basis point rate tightening was released. The Fed said: Fed should expeditiously move monetary policy toward a more neutral stance A restrictive policy may become appropriate Officials emphasize that they were highly attentive to inflation risks which were skewed to the upside Price pressures remain elevated
Gold in the national capital on Wednesday dipped marginally by Rs 13 to Rs 50,935 per 10 grams in line with weak trends in international precious metal prices along with rupee appreciation, according to Securities. In the previous trade, the precious metal settled at Rs 50,948 per 10 grams. Silver, however, gained Rs 101 to
Overall, the moves in the forex markets are still indecisive. Dollar and Yen are striking back today and rise broadly. Swiss Franc follows as the third strongest, suggesting a risk-off undertone. Nevertheless, other markets are still relatively steady. New Zealand Dollar’s post-RBNZ rally faded rather quickly. But for now, Aussie is the weakest one, followed
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