Posting this as an ICYMI. It comes via Bloomberg (gated). In very brief: China’s refining sector is set up mainly to serve its domestic market The government controls how much fuel can be sent abroad via a quota system It had 17.5 million barrels a day of capacity at the end of 2020, and will
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Safe Haven! Is gold the best hedge against inflation? – The Economic Times Video | ET Now ET Now | 20 Jun 2022, 08:24 PM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=92343235&rlvideo=1808152121″></iframe> The ET Money Show | Is gold the best hedge against inflation?| Harsh Roongta decodes Read more on To see
Markets are generally quiet today, with a near empty European calendar and US holiday. Major European indexes are recovering slightly but lack follow through buying. Gold and oil are staying in tight range. In the currency markets, Aussie and Kiwi recover mildly while Dollar, Yen and Euro are the softer ones. But with the exception
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from
Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggested further upside in USD/THB could retest 35.40 ahead of 35.70. Key Quotes “We highlighted last Monday (13 May, spot at 34.85) that USD/THB ‘is likely to break 35.00 but any further advance is expected to face solid resistance at 35.40’. While USD/THB subsequently
USDJPY has completed the down and back up “lap” The USDJPY moved sharply lower yesterday, helped by a crack below the 200 hour MA (green line), a move below a swing area between 132.97 and 133.35, and a corrective swing low at 132.30. Finally the pair also fell below the 38.2% retracement of the move
Steady as she goes for the Swiss franc as it continues to creep higher after the SNB policy pivot last week. The downside push in USD/CHF ran into trendline support before stalling at the end of last week and that is the key area being tested once again currently. That said, the double-top pattern just
After a strong performance earlier this month, oil prices sold off violently last week, falling sharply along with risk assets including stocks. For the week, Brent futures declined for the first time in five weeks, while WTI dropped for the first time in eight weeks. Crude oil fell 7 per cent on Friday and was
Overall markets are rather steady in Asian session today. Even the free falling crytocurrencies are stabilizing slightly. Major Asian indexes, except Nikkei, are treading water. Dollar and Yen are softening slightly with Sterling. Aussie and Euro and mildly higher. But most major pairs and crosses are just stuck inside Friday’s range. Sterling would be a
In this article ULTA M UAL AAL DAL LYV QSR-CA DPZ GM F TAP WEN RDFN MCD TGT A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty
Celsius’ lead investor BnkToTheFuture and its co-founder Simon Dixon have offered to assist the network by deploying similar “financial innovation” used in 2016 to save cryptocurrency exchange Bitfinex from liquidation. I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved
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NZD/USD stays defensive after three-week downtrend, pares recent losses amid a quiet session. New Zealand Business PSI rose past 52.2 prior to 55.2 in May. Hawkish Fed, recession fears favor US dollar, news from China probe Kiwi bears. Light calendar highlights the risk catalysts for fresh impulse. NZD/USD grinds higher around 0.6320 while consolidating the
EURUSD tests 100 hour MA area. Be aware. The EURUSD is testing its 100 hour moving average 1.0455. The levels is a risk/bias defining level. Trade below with momentum tilt the bias further in the favor of the sellers. Conversely, holding support would have traders looking toward 1.04709 and a comfort bounce level to get
Today’s runoff election in Colombia is decided as Rodolfo Hernandez has conceded to Gustavo Petro. The polls were even but Petro’s win is a rejection of two decades of the political establishment in Colombia. He was previously the mayor of Colombia and is expected to emphasize social policies. Petro had received 40% of the vote
Investment in Sovereign Gold Bonds (SGBs) went up sharply during COVID-impacted years as investors looked for safer options amid volatility in equity markets with 2020-21 and 2021-22 accounting for nearly 75 per cent of total sales of the bonds since the inception of the scheme in November 2015. The next tranche of SGBs is scheduled
U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, June 8, 2022. Jonathan Ernst | Reuters The recession that many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said Sunday. Talk of a
The Swiss franc is on the driver’s seat, as shown by the USD/CHF dropping 1.82%. Sentiment in the FX space fluctuated, with safe-haven peers gaining, except for the JPY. USD/CHF Price Forecast: Subject for a mean reversion move towards 0.9850. The USD/CHF recovered some ground after falling to fresh weekly lows around 0.9620, bounced off,