An optimistic twist The official cash rate remained the same at 0.25%, but the headline surprise was that the RBNZ agreed to halt additional asset purchases under the LSAP agreement by July 23. This means that the RBNZ can be considered as setting up for a sooner rate hike than previously projected. The ANZ investment
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NEW DELHI: Gold and silver prices traded flat on Thursday, following global trends. Markets awaited for more cues after Federal Reserve Chairman Jerome Powell’s ‘powerful support’ and China’s economic data. Physical gold prices in spot market has gained 3 per cent in the first two weeks of July. However, the gains have been marginal, less
New Zealand Dollar rises broadly after RBNZ halts its asset purchase program. The movement also takes Aussie slightly higher. On the other hand, Dollar is not quite able to extend the post-CPI rally, and softens slightly. European majors are currently mixed. Focus will now turn to BoC policy decision and the reaction in Canadian Dollar
Citi on the outlook for AUD/NZD Citi likes short AUD/NZD targeting a move towards 1.02. “The RBNZ announced at the board meeting to halt additional asset purchases under the Large Scale Asset Purchase (LSAP) program by 23 July 2021. CitiFX says that as the Bank would know the growing market expectation that it will increase
MUMBAI: From June, sellers of gold jewellery are mandated to have a hallmark of the Bureau of Indian Standards in the ornaments made by them to certify purity of the gold. This norm was brought about in January 2020, but the Covid pandemic delayed its implementation. According to brokerage , out of the 4 lakh
Dollar is back under pressure again as risk-on sentiments seem to be back as indicated by US futures. Swiss Franc and Euro are not too far away, as both turn softer, while Yen is following. On the other hand, New Zealand Dollar continues to lead the way after RBNZ’s halt of asset purchase program. Canadian
Looks likely Canada’s economy is showing excellent signs fo improvement and the last jobs report has shown that the jobs market is nearly back to pr-pandemic levels. Jobs galore The jobs print was a mixed picture, but definitely tilted to the bullish side. Yes, the headline print was strong, coming in above expectations at 230K
NEW DELHI: Gold and silver futures traded in the green on Wednesday, bucking the trend in the international market. However, the gains were capped by a firm dollar, which usually makes things difficult for bullion holders. The dollar index held steady, having seen its best daily percentage gain in nearly a month late Tuesday. A
Economic developments since the June meeting suggest that BOC would still maintain an upbeat tone and taper further at this week’s meeting. Policymakers will, however, maintain the forward guidance that the first rate hike would come in 2H22. The staff will also release the latest economic projections. The GDP growth outlook will be kept largely
US CPI reaction CIBC Research discusses its reaction to today’s US CPI print for the month of June. “Price pressures were scorching hot in the US in June, as surging demand combined with supply chain issues to lead the way higher. Total monthly prices rose by 0.9%, well above the consensus forecast of 0.5%, leaving
NEW YORK: Oil prices rose more than 1 per cent on Tuesday, as tight supply and expectations of a further draw in US and global crude inventories provided support. Brent crude rose $1.18, or 1.6 per cent, to $76.34 a barrel, while US West Texas Intermediate crude rose $1.11, or 1.5 per cent, to $75.21
Dollar rebounds strongly in early US session after much stronger than expected CPI inflation reading. The headline reading has indeed been trend up every month since January and showed no sign of slowing yet. Yen also rebounds following the greenback. Meanwhile Sterling and Canadian Dollar are the weakest ones for today for the moment. Technically,
RBNZ meeting on Weds On May 26th the RBNZ took a bullish tilt in their monetary policy meeting. They signalled a forward rate forecast pointing to a 25bps rate hike in September 2022. This saw a boost higher in the NZ 10 year bonds and strength in the NZD for a few weeks, but then that
NEW DELHI: Gold prices were steady on Tuesday after hitting a one-week low in the previous session. The dollar weakened slightly ahead of US inflation data, which may offer clues about policy tightening by the Federal Reserve. The yellow metal was trading marginally higher in the domestic market. US consumers expect the economy to continue
Yen decline continues overnight and stays soft on the back of solid risk-on markets. DOW closed just shy of 35k handle overnight, but the three major indexes ended at record highs nonetheless. Solid buying is also seen in Asia, with Hong Kong HSI staging and impressive rebound. Australian and New Zealand Dollar are currently the
CIBC sees more dollar strength CIBC is out with its latest dollar forecasts and sees the dollar broadly higher in the next six months, with gains against EUR, JPY and CAD. “The June FOMC meeting marked a turning point for the USD. Prior to the meeting, positioning and sentiment on the greenback was largely bearish,”
NEW YORK: Oil prices fell on Monday as concerns about slowing global growth outweighed the prospect of tightening supply after talks among key crude producers to raise output in the coming months stalled. Brent crude for September fell 45 cents, or 0.6 per cent, to $75.10 a barrel by 12:08 p.m. EDT (1605 GMT). U.S.
Overall markets lack clear direction today. Major European indexes are mixed in tight range. DOW future is down over -100 pts at the time of writing, but NASDAQ futures are up. Dollar recover mildly together with Yen and commodity currencies are the softer ones. But overall, major pairs and crosses are bounded inside Friday’s range.