Global equities struck a strong note in ending last week, with help from fresh US stimulus and ECB’s pledge to accelerate asset purchases. Yen, Dollar and Swiss Franc ended as the worst performing ones. Canadian Dollar was the strongest on the back of risk-on sentiment, while additional supported up expectation of BoC tapering and strong
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Forex news for North American trade on March 12, 2021: Markets: Gold flat at $1721 S&P 500 flat at 3940 US 10-year yields up 9 bps to 1.63% WTI crude down 42-cents to $65.61 CAD leads, NZD lags The rise in Treasury yields had markets off balance coming into the day but this time was
India’s palm oil imports fell 27% in February from a year earlier to their lowest in nine months, a leading trade body said on Friday, reflecting a slowdown in domestic demand. India imported 394,495 tonnes of palm oil, down from 540,470 tonnes a year earlier, the Solvent Extractors’ Association of India (SEA) said in a
Euro softens mildly after ECB announced to speed up PEPP purchases in the next quarter. But loss is relatively limited as the overall envelop was kept unchanged. Dollar and Yen are currently the worst performing one for today, on the back of risk-on sentiments. Commodity currencies are currently the stronger ones, as led by Aussie.
Reuters report, citing a document Italy is in another lockdown and case are rising in much of the continent as the vaccine rollout lags. Even without all that, those economies would need more fiscal support. Europe is starting to fall way behind the US and it’s not a good look. Here was a line from
Low domestic prices raked in demand for physical gold in some Asian hubs this week, with fresh retail interest also allowing dealers to charge higher premiums in India. Local gold futures in India traded around Rs 44,400 per 10 grams on Friday, near a one-year low of Rs 44,150 they touched earlier in the week.
Dollar rebounds broadly again today as markets are unsettled by renewed strength in treasury yield. At the time of writing, US 10-year yield is back pressing 1.6 handle. DOW future is trading mildly higher, but NASDAQ futures is down -1.3%. Though, Canadian Dollar is even stronger as lifted by much stronger than expected employment data.
The Nikkei puts up its best daily performance since 1 March The boost in the Nikkei comes as Japan Post plans to take a 8.3% stake in Rakuten, bolstering the latter’s shares by 11% on the announcement earlier today. That is helping to offset the murmurs that the BOJ may not step in as often
NEW DELHI: Gold and silver futures fell up to 0.5 per cent in Friday’s trade, despite the ECB pledge on bond buying and optimism over US stimulus. Gold futures for April delivery fell 0.32 per cent to Rs 44,737 per 10 grams. Silver futures for May delivery were trading at Rs 67,207 per kg, down
Sterling and commodity currencies are back in driving seat on positive market sentiments. Nikkei rises sharply in Asian session, following another record close in DOW overnight. Treasury yields also appear to have settled in range after this week’s central bank rhetorics. For now, Yen is the worst performing for the week, followed by Dollar. Aussie
The WI was trading at 2.29% at the time of the auction High yield 2.295%. Last 1.933% WI at time of auction 2.290% Tail 0.5 bp. Six month averages -0.2 basis points. Bid to cover 2.28X. Six month average 2.34X Dealers 19.21%. Six month average 21.6% Directs 20.2%. Six month averages 16.5% Indirects 60.6%. Six month average 61.9% Like
BlackRock Inc. just delivered a double-barreled warning on the merits of holding traditional haven gold right now. Bullion is proving to be a less effective hedge against moves in other assets, such as stocks, as well as inflation, according to Russ Koesterich, portfolio manager for BlackRock’s Global Allocation Fund. Moreover, gold faces headwinds should the
While leaving the monetary policy measures unchanged, the ECB indicated that it would increase asset purchases in coming months. The move is a response to the rise of bond yields which could tighten the financial conditions. On economic developments, the central bank attributed the likely contraction in 1Q21 to high coronavirus infection rates, mutations and
The daily case count is the highest since 23 January This reaffirms that the virus situation in Germany has reached a peak in terms of improvement in the past few weeks, as total active cases rise slightly to ~123,100. The 7-day incidence rate also creeps higher to 69.1 and that is a key figure to
March 11: Gold prices inched down after hitting a more than one-week peak on Thursday, as elevated U.S. Treasury yields continued to remain a headwind for the precious metal. FUNDAMENTALS * Spot gold was down 0.1% to $1,725.17 per ounce by 0043 GMT, after hitting its highest since March 3 at $1,727.65 earlier in the
As widely anticipated, the BOC left all monetary policy measures unchanged. While being more upbeat about the economic developments, the members noted that the policy rate will stay unchanged as least until inflation target of 2% is “sustainably” achieved. Meanwhile, they hinted of adjusting the size of asset purchases as the economy continues to improve.
The old high was $347.51 The record close in shares of GameStop was $347.51 last month and today after touching $348.50, it’s absolutely cratered down to $172. That was an obvious target in an extraordinary market. It’s been halted a few times on the way down. What an utterly insane market. Invest in yourself. See
Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China’s clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in power and construction, hit a