I spoke with BNNBloomberg about the loonie [embedded content] 1) Why CAD is the best-performer this year? The Canadian dollar is the top performing currency in the world this year and it’s not hard to see why. We’re at the start of a new economic cycle, commodities are booming and the US is one of
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HANOI/BEIJING: Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. “We’re not a huge believer in a super-cycle now. You’ve started to see some central bank starting to taper bond buying and if they are not tapering, they’ve started
Euro surges broadly today, while German DAX and Stoxx 600 hit new record highs. Strong German business climate reading gave sentiments a strong lift. For now the common currency is only out-performed by New Zealand Dollar, and followed by Swiss Franc. On the other hand, positive market sentiment makes Yen the weakest one, followed by
There hasn’t been much pushback or warnings against a higher currency by the Chinese local media While the onshore yuan is still holding just above 6.40 against the dollar, the offshore yuan is already starting to test waters below that and so far the Chinese media is looking rather sanguine about the whole thing. This
NEW DELHI: Gold prices edged lower on Tuesday as hopes of quick economic recovery lifted demand for riskier assets, although a weaker dollar and lower US Treasury yields limited losses for the safe-haven metal. Precious metals in domestic markets followed global trends and slipped on opening. The dollar languished near four-month lows against major currencies,
The forex markets are staying in mixed consolidative mode in Asian session. Australian Dollar trades mildly higher following strong, record making, export data. But that’s offset by Melbourne’s return to pandemic restriction, on masks and gatherings. Dollar turns weaker as Asian stocks rebound, together with Yen and Canadian. European majors are generally firm. Technically, focus
Chicago Fed national activity index for April 2021 Chicago Fed national activity index for April 2021 0.24 versus 1.0% estimate. The index fell from 1.71 in March. 3 of the 4 broad categories of indicators used to construct the index made positive contributions in April. However, three categories deteriorated from March The three month moving average decreased to 0.07
NEW YORK: Oil prices rose on Monday as a demand bump fueled by COVID-19 vaccination drives gave traders optimism that the market can absorb any Iranian oil that would come on the market if Western talks with Tehran lead to the lifting of sanctions. Prices also got a boost on expectations that a new deal
Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
Sounds like a cure for insomnia What to do if the Fed keep reassuring markets rates won’t rise There is a narrative I recently read that the Federal Reserve is stuck. Their mandate has slipped from controlling inflation and maintaining employment to simply preventing interest rates from rising so a Democrat Government can keep spending.
China intensified its weeks-long campaign to cool a raw-materials boom, vowing severe punishment for violations ranging from excessive speculation to spreading fake news. The government will show “zero tolerance” for monopolies in spot and futures markets, and for speculation and hoarding, the National Development and Reform Commission said in a statement after leaders of top
Economic data released since the last meeting have continued to improve. We expect the RBNZ to upgrade economic assessments at the upcoming meeting, acknowledging recent positive developments. Yet, policymakers would continue to attribute the spike in inflation to temporary factors. All monetary policy measures will remain intact. The job market has continued to improve. The
The US dollar is stronger today after the Markit services PMI Credit Agricole CIB Research discusses the USD outlook and sees tactical downside risks in Q2 and medium-term upside risks in H2. “We now see downside risks to our Q2 USD outlook but also upside risks to our H221 USD outlook as a whole and
NEW DELHI: Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran. India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some
FX performance this week The US dollar is holding near the highs of the day with US equities now back to flat. The market did not like the strong Markit report because it could bring tapering closer. I don’t share that belief because the Fed wants to look through the reopening boom and because a
Domestic gold and silver prices declined on Friday amid a sharp bounceback on Dalal Street, though weakness in the dollar overseas limited the downside. MCX gold futures for June 4 delivery traded lower throughout the morning session, and were last seen quoting down by Rs 95 or 0.20 per cent at Rs 48,449 per 10