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Month: December 2021
The Canadian dollar is ripping higher today and is by-far the best performing G10 currency. The move has knocked USD/CAD 110 pips lower to 1.2633. I strongly suspect this is a flow-driven move in a thin market — someone needed Canadian dollars ASAP. That’s especially evident with oil down 1.2% today and global equities softer.
NZDUSD on the weekly chart The NZDUSD stepped lower in 2021 in choppy up and down trading. The moves to the downside came despite rate hikes by the Reserve Bank of New Zealand toward the later half of the year. The expectations are the central bank will look to continue that trend in 2022. Overall,
Gold prices are set for a negative year in 2021. The metal’s prices in India have declined by more than 4% till now on improved investment sentiments for riskier assets. Gold gave tremendous returns in 2019 and 2020, at 13% and 26%, respectively, on the trade war and pandemic rally. Investors have varied opinions on
Here is what you need to know on Friday, December 31: Well, we made it to the end of the year and what a tumultuous one it was. We can scarcely believe we are still talking about covid. Indeed talking about record infection rates, hopefully, recent research that the omicron variant proves less severe is
The Chinese-Canadian business executive’s standout message was that centralized exchanges like Binance would remain relevant in 2022 and beyond. Riposting to a loaded tweet about centralized finance’s dark side as well as the future of decentralized finance, CZ said, “Today, we still need the centralized systems to integrate with the traditional financial industry so that
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -1891 mmb to 1184.59 mmb in the week ended December 24. Crude oil inventory dropped -3.58 mmb to 420 mmb, compared with consensus of a +3.09 mmb increase. Inventory decreased in 3 out of
As part of the plan China will also optimise the annual quota mechanism for the production of rare earth, tungsten and other minerals. Info comes via the South China Morning Post, link here for more (may be gated). The piece opens with: China will encourage domestic exploration of iron ore and use more scrap metals
AUSDUSD on the weekly chart The AUDUSD in 2021, reached its high for the year on February 25th at 0.8006 which was near a nice natural resistance of 0.8000. The price low was not reached until the December 3rd at 0.6992 (also near a natural support level at 0.7000). The range of 1014 pips compares
NEW DELHI: Gold prices traded higher in the final session of 2021, but are set for the worst performance in the last six years. Gold futures on MCX gained 0.11 per cent or Rs 55 at Rs 47,940 per 10 grams. Silver futures were up 0.15 per cent or Rs 96 at Rs 62,256 per
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AUD/USD keeps the bounce off intraday low following China’s upbeat data. China NBS Manufacturing PMI improves to 50.3, Non-Manufacturing PMI drops below forecast in December. Off in Japan restricts bond moves, stock futures print mild losses. Omicron woes stay on the table, China increases hardships for Australia but year-end liquidity crunch limit market moves. AUD/USD
Overall outlook in the markets are unchanged, with US futures pointing to slightly higher open. DOW and S&P 500 could continue their record runs. Selloff in Yen remains the main theme while Sterling is strong together with Aussie and Kiwi. Euro and Dollar are both soft and bounded in range against each other. Technically, a
OPEC and its allies will probably stick to their existing policy of modest monthly increases in oil output at a meeting next week, four sources cited by Reuters said. The scheduled plan is for OPEC+ to hike by 400k bpd each month. There was talk of delaying that last month but OPEC is likely to
Gold prices declined by Rs 98 to Rs 46,688 per 10 gram in the national capital on Thursday in line with weak global cues, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,786 per 10 gram. Silver also tumbled Rs 699 to Rs 60,024 per kg from Rs 60,723
NASDAQ:LCID fell by 0.03% during Wednesday’s trading session. Rivian tells its customers that SUVs will be ready in 2023. Tesla stock falls as Musk continues to sell shares. NASDAQ:LCID has been far from the sure bet investors believed it to be when the luxury EV maker went public back in July. But it is still
Panama is doing its best to keep up with El Salvador’s Bitcoinization with the installation of 50 Bitcoin (BTC) ATMs in 2022. Thanks to Santo Blockchain, 50 of the planned 300 ATMs will begin shipping to Latin America in early 2022. A vertically integrated blockchain and cryptocurrency company with offices in Saigon, Vietnam and Panama
Selloff in Yen continued as DOW was pushed to new record by risk-on sentiment, while US benchmark treasury yield also jumped. Dollar is also under some pressure together with Canadian and Euro. On the other hand, Sterling continues to be the outperformer, leading Aussie in the race. With easing fear on Omicron, the markets look
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