The RBNZ raised the OCR by +25 bps to 0.75%, as we had anticipated. Policymakers sounded more cautiously about the economic outlook while reiterating the stance of continued reduction of stimulus. Kiwi extended recent correction after the announcement. On the monetary policy outlook, the central bank reiterated that “it remains appropriate to continue reducing monetary
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Daily thread to exchange ideas and to share your thoughts A reminder that tomorrow is Thanksgiving so trading conditions this week may be a little affected by that, with things possibly being more messy today before turning quiet ahead of the holiday break. I know it isn’t a holiday on Friday but typically US traders will be
NEW DELHI: Gold and silver futures prices were trading with gains as low level buying was seen early on Wednesday amid strong US dollar which is raising bullion’s cost to buyers holding other currencies. Investors are betting that the newly renominated Fed Chairman Jerome Powell will need to step up the pace at which the
Markets are trading in mild risk off sentiment, while treasury yields also surge. New Zealand Dollar is leading other commodity currencies lower, and Sterling is week too. On the other hand, Euro and Swiss Franc are currently the stronger ones, followed by Dollar and Yen. But overall, it should be noted that Euro’s recovery is
Mixed picture globally France’s health minister today reported 30,500 new covid infections in the past 24 hours. The peak in the August wave was 30,900 and seven-day average is 18,477 so that’s worrisome. At the same time, it’s not all that surprising as neighbouring Germany and the Netherlands are near all-time highs. Oil is a
New Delhi: Gold in the national capital on Tuesday plunged Rs 810 to Rs 46,896 per 10 gram reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,706 per 10 gram. Silver also cracked Rs 1,548 to Rs 62,720 per
Dollar surged overnight after Fed Chair Jerome Powell was nominated for a second term by US President Joe Biden. The greenback stays firm in Asian session and is ready to extend its near term rally. On the other hand, New Zealand Dollar is trading notably lower, as traders are probably pricing out the chance of
Reuters reports It is said that some offshore bondholders of Kaisa who did not receive coupon payments this month have tapped investment bank Moelis & Company to advise them on how to go about the situation, citing a source with direct knowledge on the matter. For some context, Kaisa has not paid coupons totaling over
NEW DELHI: Gold and silver futures prices were trading with marginal gains as low level buying was seen early on Tuesday after a sharp fall a day prior. However, the gains were checked as dollar rose. The dollar index held near a 16-month peak after Biden on Monday nominated Fed Chair Powell for a second
What’s the trade There’s a new report saying the US is ‘poised’ to release strategic oil reserves along with other countries. India, Japan and China are some of the nations that have been previously reported to be on board. The announcement could come as soon as tomorrow, according to the report. You would think it
New Delhi: Gold price in the national capital on Monday gained marginally by Rs 17 to Rs 47,869 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,852 per 10 gram. Silver surged Rs 444 to Rs 64,690 per kilogram from Rs 64,246
The forex markets are generally staying in tight range in Asian session, digesting last week’s moves. Euro remains generally soft and looks vulnerable to extend the near term decline, in particular against commodity currencies and Yen. Sterling is so far resilient, awaiting more BoE officials to speak up their mind regarding the chance of an
Forex news for Asia trading on Monday 22 November 2021 Oil news – Japan reserves (read from the bottom up for chronology): Yuan news: Other: While the forex space was fairly sedate to open the week crypto was more active. BTC/USD traded up to US$60K over the weekend but has since given back some ground
NEW DELHI: Gold and silver futures prices were trading flat with negative bias on Monday as commentary from central banks suggests there could be a rate hike earlier than expected, which will be detrimental to bullion counters. Bundesbank president Jens Weidmann publicly contradicted the European Central Bank’s official line on Friday, warning that inflation may
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -8.87 mmb to 1223.87 mmb in the week ended November 12. Crude oil inventory dropped -2.1 mmb to 433 mmb, compared with consensus of a +1.4 mmb increase. Inventory increased in 3 out of
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South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometer in length, the much-coveted hoard could be worth about $5 billion at current prices. In the esoteric world of aluminum, those in the know say the stockpile in Vietnam is the biggest they