Euro turns softer in a quiet Asian session together with Swiss Franc, but Yen is even weaker. On the other hand, Aussie is ticking up slightly together with Loonie and Dollar. Overall, trading is rather subdued with major Asian stock indexes treading water in tight range, and Japan is on holiday. Focuses will turn to
SINGAPORE: lost more ground on Monday as rapidly climbing cases of the Omicron COVID-19 variant hit economic activity, although losses were curbed by supply disruptions in Kazakhstan and Libya. Brent crude slid 38 cents, or 0.46%, to $81.37 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 34 cents, or 0.43%, to $78.56
The Bank of Japan (BOJ) is expected to raise its forecast for FY 2021-2022 inflation at its January 17 and 18 monetary policy meeting, the Yomiuri newspaper reported over the weekend. Key takeaways “The central bank’s outlook for price trends for fiscal 2022, currently at 0.9%, will be raised to 1% or higher.” “The possible revision
Both the EURUSD and the GBPUSD are moving higher, but the EURUSDs rises outperforming the GBPUSD. That has the EURGBP moving higher. The EURGBP has been trending more to the downside cents the December 8 peak at 0.8598. The price reached a low on Wednesdaytrade at 0.83340. Technically, the correction yesterday saw the price move
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The minutes of the FOMC meeting “shocked” the market this week, after the Fed said that they would look to decrease the Fed’s balance sheet. That typically comes from letting the maturing issues on the balance sheet run off without replacing them with new buys from the Fed. Since the start of the QE, the
NEW DELHI: The ninth tranche of the sovereign gold bond (SGB) scheme 2021-22 will open for subscription on Monday. This issue comes amid increased demand for bullion given heightened market risks. Investors can bid for a minimum of 1 gm of gold at Rs 4,786 against Rs 4,791 per gram for the previous tranche. There
AUD/USD has been choppy on Friday in wake of a mixed US labour market report. The pair is now trading in the 0.7180s having dipped as low as the 0.7130s. The dollar weakened broadly despite the jobs report spurring upside in yields on Fed tightening expectations. AUD/USD was choppy on the final day of the
Earlier this week, I wrote a post debating whether the downtrend line or the old highs were more important for 10-year yields. The debate is over now because they’re both broken. Yields legged higher in the last 30 minutes after the 1.777% level gave out. That’s pushed yields within a fraction of 1.80% and to
After the popularity of DeFi, came the rise of nonfungible tokens (NFTs) and to the surprise of many, NFTs took the spotlight and remain front and center with the highest volume in sales, occuring at the start of January 2022. While 2021 became the year of NFTs, GameFi applications did surpass DeFi in terms of
In one version of history, the huge spontaneous protests in Kazakhstan were the result of years of grievances that boiled over after an increase in propane and butane prices, which are widely used as auto fuels there. In another version, a ‘hybrid war’ is ongoing where there’s an ongoing “attempt to undermine the security and
SINGAPORE: The world’s top oil exporter, Saudi Arabia, has cut February’s official selling price (OSP) to Asia for its Arab light crude to plus $2.20 a barrel versus Oman/Dubai crude. The February OSP to Asia for the Arab light grade is the lowest in three months. State oil giant Saudi Aramco on Thursday set the
The U.S. economy added far fewer jobs than expected in December just as the nation was grappling with a massive surge in Covid cases, the Labor Department said Friday. Nonfarm payrolls grew by 199,000, while the unemployment rate fell to 3.9%, according to Bureau of Labor Statistics data. That compared with the Dow Jones estimate
The New Zealand dollar advances some 0.46% as the North American session ends. A risk-off market mood was no excuse for the NZD to gain vs. the USD. NZD/USD Technical Outlook: Downward biased as long as it remains below 0.6859. On Friday, the New Zealand dollar trimmed some of its Thursday’s losses despite a risk-off
The price of WTI crude oil futures are settling at $78.90. That’s down -$0.56 or 0.7%. The high price reached $80.47. The low price extended to $78.52. For the week, the price moved up for the first four trading days, but is trading down today after reaching the highest level since November 16. The price
It was a roller coaster ride as traders came back for the new year. Markets were in full risk-on mode as worries over Omicron faded. Yet, sentiment turned after more hawkish than expected FOMC minutes. Major stock indexes were than in deep pull back. Major global benchmark treasury yields powered through key resistance level. In