UK business secretary, Kwasi Kwarteng, repeats the call that the government will not be rewarding failure Should not be throwing taxpayers’ money at companies that have been badly run People should be able to find energy pricing which is very much in-line with their old tariff when a company goes bust This is a more
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NEW DELHI: Gold prices were trading little changed on Tuesday, holding recovery gains of the previous session. Investors adopted a risk-averse stance ahead of the US Federal Reserve’s policy meeting. Gold futures on MCX were marginally down 0.16 per cent, or Rs 73, at Rs 46,205 per 10 gram. Silver futures were flat, down merely
Markets are generally in deep risk-off mode today, as China property fears spread from Hong Kong stocks to European to US. Yen remains the strongest one as rally extends, which Swiss Franc is trying to catch up. Dollar is is losing some ground but stays much better than others. Canadian Dollar is currently the worst
18% of production still shut in and could be for awhile The BSEE reports that 18.19% of US gulf oil production remain shut in, or 331,000 barrels per day. That’s steadily improved in the past week following the reopen of Port Fourchon. The bad news is that Shell revealed today that its WD-143 ‘A’ platform
Gold prices inched lower on Monday, pressured by a firmer dollar, while investors awaited guidance from the US Federal Reserve on when it is likely to start withdrawing its bond-buying programme. FUNDAMENTALS Spot gold dipped 0.1% to $1,752.66 per ounce by 0050 GMT, while US gold futures edged up 0.1% to $1,753.80. The dollar index
Economic developments since the last meeting have raised concerns of “stagflation” in the UK, i.e. slow growth with strong inflation. As the main constraint to growth is supply chain, we do not expect this to derail BOC’s monetary policy stance. We expect the central bank to vote unanimously to leave the Bank rate unchanged at
The market is nervous about the Evergrande situation [embedded content] That being said, just be wary that holidays in China itself, Japan, South Korea, and Taiwan may have exacerbated the anxiety and fear in Asia Pacific trading today amid thinner trading conditions. Still, the situation is rather tense and warrants attention. As mentioned earlier, the
NEW DELHI: Gold prices declined on Monday, hitting multi-week lows. Markets are closely watching the US Federal Reserve meeting this week for clues on when the central bank will start tapering its crisis-era stimulus measures. Gold futures on MCX were marginally down 0.09 per cent, or Rs 41, at Rs 45,945 per 10 gram. Similarly,
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Plenty of bravado out there On the one side, there’s an army of China alarmists warning that Evergrande’s looming default is a Lehman moment for China’s property market. On the other, there are those brushing it aside, confident that China will bail out whoever needs bailed out and keep the economy strong no matter what.
Dollar and Yen were the runaway leaders in the forex markets last week. While Fed is not quite likely to announce tapering this week, recent solid data argues that November would finally be the date. Stocks in US and Europe have been losing much upside momentum as central banks are starting to prepare for slowing
Not a great look There’s been a brewing controversy around covid booster shots, which the President touted last month. Biden said they would start rolling out next week. However public health officials have some concerns around the quality of data mandating them. Many argue that the current vaccine regiment is extremely effective at preventing hospitalizations
Gold prices were set for a second weekly loss as a firmer dollar dented the metal‘s allure for holders of other currencies while investors await a key US Federal Reserve meeting for clues on how soon the central bank will start to taper stimulus. FUNDAMENTALSSpot gold was flat at $1,754.86 per ounce, as of 0037
Since the Jackson Hole symposium and the FOMC minutes, the pandemic has worsened in the US, while economic growth appears to be losing steam. These suggest that all monetary policy measures will stay unchanged with asset purchases staying at US$120B per month and the Fed funds rate target at 0-0.25%. We don’t expect any breakthrough
State media in China, Xinhua, with the article on remarks as Li Keqiang toured Guangxi province in the south of the country. Plenty in the report is familiar, he said the Party would vigorously promote reform and opening up, maintain economic operations within a reasonable range, form a more stable industrial chain supply chain Bloomberg (may be
NEW YORK: Oil prices fell on Friday as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output. Brent crude futures fell 33 cents to settle at $75.34 a barrel. US West Texas Intermediate (WTI) crude futures fell 64 cents to settle at $71.97 a barrel. For
Rally in Yen and Swiss Franc dominated trading for most of the day, and it stays firm in early US session. Nevertheless, as sentiment of US traders are not too pessimistic, buying in both slows a little bit. On the other hand, Australia, New Zealand and US Dollars are taking turns to be the worst
Forex news for North America trading on Sept 17, 2021: Markets: Gold down $1 to $1752 US 10-year yields up 4.3 bps to 1.376% WTI crude oil down 59-cents to $72.01 USD leads, CAD lags Coming into New York trade the market mood was fairly neutral. There were some concerns about China/Evergrande but the moves