The RBNZ delivered a less dovish message in May than a month ago. While leaving all monetary policy measures unchanged, it upgraded the inflation forecast and revised lower the unemployment rate. The central bank also pushed forward the first rate hike to 3Q22. Kiwi rallied to highest since February after the news. While the uncertainty
News
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
HANOI/BEIJING: Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. “We’re not a huge believer in a super-cycle now. You’ve started to see some central bank starting to taper bond buying and if they are not tapering, they’ve started
Euro surges broadly today, while German DAX and Stoxx 600 hit new record highs. Strong German business climate reading gave sentiments a strong lift. For now the common currency is only out-performed by New Zealand Dollar, and followed by Swiss Franc. On the other hand, positive market sentiment makes Yen the weakest one, followed by
Latest data released by UK CBI – 25 May 2021 Prior 20 Total distributive reported sales 43 Prior 30 A bit of a miss on the headline reading and that suggests some slowing in retail sales after the flurry of demand seen in April after lockdown measures were lifted. CBI notes that: “The fact that
Gold reversed course on Tuesday, climbing towards last week’s 4-1/2-month peak, supported by a weaker dollar and bond yields after Federal Reserve officials affirmed their support to keep monetary policy accommodative for some time. Spot gold was up 0.2% to $1,885.47 per ounce by 0724 GMT, after falling as much as 0.5% earlier in the
The forex markets are staying in mixed consolidative mode in Asian session. Australian Dollar trades mildly higher following strong, record making, export data. But that’s offset by Melbourne’s return to pandemic restriction, on masks and gatherings. Dollar turns weaker as Asian stocks rebound, together with Yen and Canadian. European majors are generally firm. Technically, focus
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW YORK: Oil prices rose on Monday as a demand bump fueled by COVID-19 vaccination drives gave traders optimism that the market can absorb any Iranian oil that would come on the market if Western talks with Tehran lead to the lifting of sanctions. Prices also got a boost on expectations that a new deal
Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
A quiet start so far but the market may still be left searching for answers by the time we start moving towards June A holiday in most parts of Europe is making for subdued tones so far on the session with little change all around in the market. As things stand, the inflation debate is
NEW DELHI: Crude oil prices rose Rs 75 to Rs 4,734 per barrel on Monday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 75, or 1.61 per cent, at Rs 4,734 per barrel in 5,717 lots. Analysts said
Economic data released since the last meeting have continued to improve. We expect the RBNZ to upgrade economic assessments at the upcoming meeting, acknowledging recent positive developments. Yet, policymakers would continue to attribute the spike in inflation to temporary factors. All monetary policy measures will remain intact. The job market has continued to improve. The
FX performance this week The US dollar is holding near the highs of the day with US equities now back to flat. The market did not like the strong Markit report because it could bring tapering closer. I don’t share that belief because the Fed wants to look through the reopening boom and because a
NEW DELHI: Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran. India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some
The minutes for the FOMC meeting in April revealed that policymakers discussed about QE tapering. This came in as a surprise to the market, sending USD higher and Treasury lower. Both the policy statement and the press conference of the April meeting downplayed the need of QE tapering. Recall that at the press conference, Chair
Press Sec. Psaki Pres. Biden meeting this afternoon with GOP on infrastructure Put forth a reasonable counteroffer WH offered a counter proposal on infrastructure from $2.25 trillion to $1.7 trillion Counteroffer reflects the view that Republican offer excludes proposals that are key to US growth Pres. Biden remains opposed to gas tax, user fees, raising taxes on
Domestic gold and silver prices declined on Friday amid a sharp bounceback on Dalal Street, though weakness in the dollar overseas limited the downside. MCX gold futures for June 4 delivery traded lower throughout the morning session, and were last seen quoting down by Rs 95 or 0.20 per cent at Rs 48,449 per 10