The loonie recovered modestly after the BOC meeting. As widely expected, policymakers left the overnight rate unchanged at 0.25% and QE purchases at CAD 2B/ week. Yet, they remained cautiously optimistic over the medium term economic outlook, despite disappointing GDP data in 2Q21 and July. We expect the central bank to continue to taper the
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The latest forecasts from the EIA Sees 2021 US output falling to by 200K bpd this year vs -160K bpd in prior forecast (to 11.08 mbpd) Sees 2022 output rising 640K vs 650K bpd prior Sees 2021 demand up 1.55 mbpd vs 1.58 mbpd prior Sees 2022 demand rising 890K bpd vs prior forecast of
New Delhi: Gold in the national capital on Wednesday tumbled Rs 264 to Rs 46,140 per 10 gram amid muted global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,404 per 10 grams. Silver rose marginally by Rs 22 to Rs 63,486 per kilogram from Rs 63,464
Euro and Swiss Franc weaken mildly in mixed markets today. New Zealand Dollar firms up together with Yen and Dollar. Meanwhile, Canadian Dollar is also soft, awaiting BoC policy decision. Major European indices are trading in red, but losses are limited. US futures also point to slightly lower open. Gold is trying to reclaim 1800
A note from Morgan Stanley, via DJ/Market Watch markets are priced for perfection and vulnerable The bank’s global investment committee expects a stock-market pullback of 10% to 15% before the end of the yea “The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily
Gold prices steadied on Wednesday, after slipping 1.6% in the previous session when it breached the key psychological level of $1,800, as gains in the and a rise in US Treasury yields hurt bullion’s appeal. FUNDAMENTALS Spot gold rose 0.1% to $1,796.03 per ounce by 0116 GMT, hovering slightly above the more than one-week low
Torn between disappointing economic activities but rising inflation, higher vaccination rate but worsening Delta outbreak, and a federal election just 12 days after this week’s meeting, the BOC will likely stand on the sideline this month. Policymakers will keep its weekly asset purchases unchanged at CAD 2B/ week and retain the forecast of first hike
The latest auction results The GDT price index rose 4.0% in New Zealand’s latest dairy auction to $3927/MT. That’s the first decent jump in months but it’s not going to do much for the kiwi today with the US dollar climbing across the board. The kiwi was last down 47 pips to 0.7090. Invest in
New Delhi: Gold in the national capital on Tuesday fell by Rs 37 to Rs 46,417 per 10 gram amid weak precious metal prices in the international market, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,454 per 10 grams. Silver also tumbled Rs 332 to Rs 63,612
Risk sentiment turns a bit weaker today in the stock markets. But benchmark European and US yields are staging a strong rally. In the currency markets, Aussie is sold off is in delayed reaction to RBA’s dovish tapering, but Canadian is follow closely with selloff in oil price. Sterling is also falling in European crosses,
China August trade data, yuan terms: China trade balance: +376.3bn yuan vs. expected CNY 495.5bn, prior was CNY 362.7bn Exports +15.7% y/y: expected 22.5%, prior was 8.1% Imports +23.1% y/y: expected 9.1%, prior was 16.1% USD terms China trade balance $58.3bn vs. expected $51.0bn, prior was $56.6bn Exports +25.6% y/y: expected 17.1%, prior 19.3% Imports
The pace of asset purchases in the Pandemic Emergency Purchase Program (PEPP) in 4Q21 is the focus of this week’s ECB meeting. Following hawkish comments from some council members, especially chief economist Philiip Lane, hopes that an announcement related to reduction in purchases would be made at the upcoming meeting have increased. The policy rates
TOKYO: Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for Asia. Brent crude futures for November rose 4 cents, or 0.1%, to $72.26 a barrel by 0056 GMT, after falling 39 cents on Monday. US West Texas Intermediate crude for October was
New Delhi: Gold in the national capital on Monday declined Rs 71 to Rs 46,503 per 10 gram in line with weak global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,574 per 10 grams. In contrast, silver gained Rs 263 to Rs 64,168 per
Canadian and US markets closed today It’s a quiet one today in New York and Toronto but USD/CAD has had some life as it tracks a thinned oil market. WTI fell as low as $68.25 but it’s grinded back to $69.41 and unchanged on the session. With that, USD/CAD rose up to 1.2559 but has
Trading in the currency market is rather subdued today and markets will stay quiet with US and Canada on holiday. Dollar is paring some of last week’s large losses but upside momentum is weak. On the other hand, Australia Dollar is turning slightly weaker as tomorrow’s RBA policy decision is awaited. The reaction in Aussie
Forex news for Asia trading on Monday 6 September 2021 The USD showed patchy strength in Asia trade to open the week. Trading was thinned out a little with the long weekend in the US and Canada (markets in the US and CAD will be closed Monday). USD/JPY is trading just a little higher, unlike
Gold prices hovered on Monday below a 2-1/2-month peak after a disappointing US jobs data signalled that the Federal Reserve could push back the timeline for tapering stimulus measures, bolstering bullion’s appeal as an inflation hedge. FUNDAMENTALS Spot gold was steady at $1,826.65 per ounce, as of 0048 GMT. In the previous session, prices hit