News

Dollar ended as the worst performing one last week as near term bearishness persisted. Q1’s rebound should have completed and the main question is whether it’s ready for new lows. That is, indeed, in favor unless overall risk-off sentiments were choked off by some unexpected events. The forex markets were mixed elsewhere, however. Euro and

US President Joe Biden will attend the G7 meeting in June in the UK.  A White House official says at the meeting the US will urge its allies to increase pressure on China over the use of forced labor in its northwestern Xinjiang province. Said also the meeting will focus on  health security a synchronized

LONDON: OPEC is encouraging its members to engage with the US administration over a proposed US bill against the group, known as NOPEC, and to explain that passing the bill could put at risk US interests abroad. A US House panel passed a bill this week to open the Organization of the Petroleum Exporting Countries

While US stocks tumbled overnight, Asian markets are just mixed. Gold and oil are stuck in range too, while the bigger move is found in bitcoin. The forex markets are also generally staying in tight range. Yen is currently the strongest one for the week, followed by New Zealand Dollar and Euro. But Australian Dollar

There is no alternative to stocks As I wrote at the start of the day: Yesterday’s capital gains panic has given way to the question: What else are you going to do with your money? TINA — there is no alternative. Bonds are trash and paying 40% in capital gains is better than paying 0%

Domestic gold and silver futures eked out mild gains at the end of a volatile session on Friday supported by weakness in the US dollar although caution prevailed among traders ahead of a key Federal Open Market Committee (FOMC) meeting due next week. MCX gold futures, due for a June 4 delivery, quoted stronger by

Fresh selloff in seen in Dollar as we enter into US session. Euro was lifted earlier today by strong PMIs. But it could be taken over by Yen before weekly close. Mild risk aversion in Europe is keeping Yen afloat. US futures are mixed at the time of writing, but looks vulnerable. As for the

Mainichi Shimbun reports on the matter This will add to the state of emergency measures set to be announced for Tokyo, Osaka, Kyoto, and Hyogo, which will run from 25 April to 11 May. The formal announcement on that should be made by Japanese PM Suga later in the day. Invest in yourself. See our

MELBOURNE: Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India’s raging second wave of COVID-19 cases kept a lid on gains. Brent crude futures rose 21 cents, or 0.3%, to $65.61 a barrel at

Euro rises mildly after ECB President Christine Lagarde sounded cautiously upbeat in the post-meeting press conference. Yet, there is no clear follow through buying for an upside breakout yet. Dollar is also not much supported by better than expected jobless claims data. The more notable movement today is the selloff in Sterling, as well as

Kansas City-area manufacturing survey data Prior was 26 The index of prices paid for raw materials compared to a month ago also reached the highest level in survey history. Full report Comments in the survey: “It is very difficult to handle the increased business with supply chain issues across all materials and finding anyone who

Domestic gold and silver futures slumped on Thursday amid a rebound on Dalal Street as the yellow metal receded from a two-month peak overseas ahead of a policy rate decision by the European Central Bank. Weakness in the dollar, which makes precious metals more attractive for those dealing in other currencies, provided some support to

As we have anticipated, the ECB left all monetary policy measures unchanged in April. Policymakers indicated the current pace (increased since March) of asset purchases in the PEPP would remain intact. Other monetary policy measures will stay unchanged with the Asset Purchase Program (APP) (traditional QE) at 20B euro/ month and the deposit rate at

Credit Suisse reports a net loss of CHF 252 million in Q1 The firm is providing an update to its financial status today, with some of the losses said to spill over into Q2 after the firm was caught late in unwinding their exposed positions to the Archegos blowup. Ouch. Invest in yourself. See our

TOKYO: prices fell for a third day on Thursday as a surprise build in U.S. crude inventories and a resurgence of COVID-19 cases in India and Japan raised concerns that a recovery in global economy and fuel demand may slow. Brent crude futures fell 57 cents, or 0.9%, to $64.75 a barrel by 0157 GMT,

As we have expected, the BOC delivered a hawkish tapering of QE purchases in April. the weekly asset purchases will reduce to CAD3B/week, from CAD4B/week previously Meanwhile, it also upgraded the economic assessments for both the country and the world. Policymakers now expect the spare capacity to be fully absorbed by 2H22. On economic developments,

Provisional closes are higher today The major European indices fell sharply yesterday some falling over 2% on the day. Today there has been a retracement of some of those declines. Looking at the provisional closes: German Dax, +0.44% France’s CAC, +0.82% UK’s FTSE 100, +0.66% Spain’s Ibex, +0.85% Italy’s FTSE MIB, +0.3% in other markets as

LONDON: prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer. Brent crude futures for June declined 95 cents, or 1.4%, to $65.62 a barrel at 0941 GMT, heading for their biggest daily drop in over