The ECB minutes for the March meeting has supported EURUSD. The minutes revealed that policymakers saw upside risks to the economic outlook, thanks to US’ huge fiscal stimulus. Meanwhile, despite higher inflation in the near-term, it should remain subdued and below the central bank’s target. Policymakers also pledged to accelerate PEPP purchases in 2Q21 so
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IMF communiqué The IMF steering committee communiqué is being released. Highlights: Global economy recovering faster than expected prospects are highly in certain and uneven across countries There are financial vulnerabilities that could cause risks if global financial conditions tighten swiftly where appropriate, monetary policy should remain accommodative We will strengthen cooperation to durably exit crisis. Invest in yourself. See our forex education
NEW DELHI: Coriander prices on Thursday fell by Rs 146 to Rs 7,152 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market. On the National Commodity and Derivatives Exchange, coriander contracts for April eased by Rs 146, or 2 per cent, to Rs 7,152 per quintal in 2,860
USD/JPY’s near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We’ll monitor if the Yen’s rally is a prelude to some other developments in the markets. For now, Kiwi
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NEW DELHI: The government has procured 3.49 lakh tonnes of wheat worth at Rs 691 crore at the minimum support price so far in the marketing season 2021-22. The wheat procurement for the rabi marketing season kicked off from April. According to an official statement, the procurement of the crop began in Haryana, Uttar Pradesh,
The rallies of Euro and Swiss Franc continue today, with much help by buying in crosses, in particular against Sterling and Aussie. The latter two are currently the worst performing ones, with Sterling as the weakest for the week too. Dollar is actually performing not too badly, down just against Euro and Franc. Main focus
Canada Ivey PMI for March 2021 Ivey PMI comes in stronger at 72.9 versus 60.0 last month (adjusted index) unadjusted index comes in at 67.3 in March employment 62.7 versus 54.0 last month. This is the highest cycle hundred four employment. The 2020, the high point reached 57.6. supply deliveries 39.6 versus 38.6 last month prices
NEW DELHI: Gold rallied by Rs 587 to Rs 45,768 per 10 gram in the national capital on Wednesday amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,181 per 10 gram. In tandem with a rally in gold, silver also jumped Rs 682 to Rs
Euro and Swiss Franc are currently the strongest ones for the week, but overall markets are relatively mixed. The rise in Euro owes a large part to Sterling’s pull back, as well as Dollar’s weakness for now. While overall risk sentiments are positive, there is no clear strength in commodity currencies. Yen is not soft
plans to import edible corn and some grains without tariffs until the end of this year under the quota tariff system, according to Finance Minister Hong Nam-ki. Currently, duties of 3 percent are levied on imported corn “There is a limited chance that annual inflation will exceed (the central bank’s target of) 2 percent, but
LONDON: Hedge funds were small buyers of petroleum last week as managers repurchased some short positions after heavy selling and price falls the previous week. Money managers purchased the equivalent of 10 million barrels in the six most important futures and options contracts in the week to March 30. Previous bearish short positions were trimmed
Positive sentiment sent German DAX to new record high today, while US futures point to a firm open. Investors are becoming more optimistic on the upcoming recovery, as seen in Eurozone Sentix data. IMF also raised growth forecast of the whole world and all advanced economies. The movements in the forecast markets are mixed though.
February job openings data from the Fed Prior was 6917K 3357M people quit a job in February vs 3.311M prior. The quit rate was 2.3% vs 2.3% prior Separations rate 3.8% vs 3.7% prior Layoff and discharges 1.2% vs 1.2% prior This is a great number and March is going to be even better. The
NEW DELHI: Coriander prices on Tuesday rose Rs 202 to Rs 7,398 per quintal in futures trade as speculators widened their holdings tracking firm trend at the spot market. On the National Commodity and Derivatives Exchange, coriander for April delivery went up Rs 202, or 2.81 per cent, to Rs 7,398 per quintal with an
The RBA left all its monetary policy measures unchanged in April. The cash rate target stays at 0.1%. correspondingly, the 3-year Australian Government Bond yield target (yield curve control) and the Term Funding Facility (TFF) interest rate also remain at 0.1%. The size QE purchases is kept at AUD100 until September. We notice a mildly
China Caixin/Markit PMIs, Services and Composite, for March 2021: Services 54.3 expected 52.1, prior 51.5 Business activity and sales both rise at quicker rates Employment returns to growth Business confidence hits highest for over a decade work backlogs rose for the first time in five months Composite 53.1 prior 51.7 And that brings an end
NEW YORK: Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC