USD/JPY up 38 pips to 109.16 Credit Suisse discusses USD/JPY technical outlook and adopts a neutral bias in the near-term. “Below the 108.57 recent low though remains needed to mark a confirmed break of the uptrend from January to raise the prospect of further weakness within the broader sideways range with resistance seen next at
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NEW DELHI: Copper prices on Wednesday traded up by 0.41 per cent at Rs 748.30 per kg in the futures market on the back of a pickup in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 3.05, or 0.41 per cent, at Rs 748.30 per
Following a weak first quarter, the strength in EURUSD has gathered momentum. The pair is the second strongest among majors quarter-to-date. A more upbeat economic outlook, heightened inflation forecasts and expectations of ECB’s tapering are key driving forces of the recent rally. Indicators Pointing to Stronger 2Q21 Leading indicators have pointed to an upbeat 2Q21.
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NEW DELHI: Gold prices held firm near a four and a half month high on Wednesday as a drop in US Treasury yields and a weaker dollar supported the safe-haven metal. Back home, precious metals followed the global trends, gaining in early trade. The dollar index was pinned near a 4-1/2-month low against its rivals,
The RBNZ delivered a less dovish message in May than a month ago. While leaving all monetary policy measures unchanged, it upgraded the inflation forecast and revised lower the unemployment rate. The central bank also pushed forward the first rate hike to 3Q22. Kiwi rallied to highest since February after the news. While the uncertainty
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
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