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Euro’s rebound made some progress overnight even though momentum was still weak. The common is nevertheless firm in Asian session. Dollar is also strengthening up slightly, together with Sterling and Swiss Franc. Yen is consolidating in tight range as earlier recovery is losing some momentum. Commodity currencies are mixed for now. Technically, EUR/USD’s break of
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March 30: Gold inched lower on Wednesday, hovering near a one-month low hit in the previous session, as Russia-Ukraine peace talks pointing towards progress dimmed bullion’s safe-haven demand, though a weaker dollar and a drop in yields limited losses. FUNDAMENTALS * Spot gold was down 0.2% at $1,916.30 per ounce, as of 0029 GMT. U.S.
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In general, the selloff in the bond market is hitting a bit of a pause with Treasury yields backing down from the highs earlier in the week. Even the BOJ’s efforts earlier managed to see 10-year JGB yields move down from its implicit cap of 0.25% to 0.22%. 2-year Treasury yields are down 3.5 bps
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National Commodity and Derivatives Exchange (NCDEX) and its Investor Protection Fund Trust on Tuesday launched the country’s first call center dedicated to farmers and Farmer Producer Organizations (FPOs) to impart complete knowledge about agricultural derivatives and related market infrastructure services. A media release issued by NCDEX said that the initiative will help farmers and FPOs
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Euro rebounds strongly today on hope of positive development out of negotiation between Ukraine and Russia. Top Russian negotiator Vladimir Medinsky was quoted saying that talks were constructive and a Putin-Zelenskyy meeting is possible. BBC also quoted Russian deputy defence minister Alexander Fomin saying they will “radically reduce” military activity outside Kyiv and Chernihiv. Additionally,
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2-year yields are up nearly 4 bps to 2.42% while 10-year yields are up 2.5 bps to 2.50% on the day. An inversion of the 2s10s looks imminent but I would argue perhaps the market has already come to terms with that. I’ll save the recession indicator talk for another time but just be wary
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The crude oil market heads into another week of uncertainty, buffeted on one side by the ongoing war between Russia and Ukraine and the expansion of COVID-related lockdowns in China, the world’s largest crude importer. Brent crude and U.S. West Texas Intermediate (WTI) crude surged last week. The two benchmarks gained 11.5% and 8.8%, respectively,
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Yen remains the weakest one today, but there is some short covering as global benchmark treasury yields also retreat. Selling focus is turning Sterling instead. For now, Aussie and Dollar are the strongest one for the day, followed by Canadian. Euro is mixed, helped by recovery against Swiss Franc. Gold recovers quickly after initial dip
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Welp, that was quick. But it is fitting with the sort of moves we have seen this year with 10-year Treasury yields hitting well above 2% and oil already having hit $125 so early on in Q1. Breathtaking stuff.  USD/JPY  jumped above 123.00 in Asia trading and has now briefly clipped 125.00 before some profit-taking.
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