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
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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
The financial markets are trading in mixed mode today. European stock indices are mixed while US futures point to slightly lower open. Sentiments are slightly on the risk-off side on coronavirus concerns, but selloff is so far relatively shallow. There is also no clear momentum for Yen and Dollar to extend the rebound yet. Canadian
Jiji Press reports on the matter This adds to the list of Tokyo, Osaka, and Hyogo as outlined earlier in the day here. It’s a “here we go again” moment for Japan as the virus situation is trending for the worse as it did back in November to January. Domestic stocks aren’t taking the news
Gold prices rose on Wednesday, hovering near a seven-week high hit earlier this week, as a soggy dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal. Spot gold was up 0.2% at $1,779.85 per ounce by 0205 GMT, after hitting its highest since Feb. 25 at $1,789.77 on Monday. U.S.
We do not expect much news from the upcoming ECB meeting. European yields have stabilized since the central bank “accelerated significantly” the pace of PEPP purchases in mid-March. Inter-meeting economic data have been mixed. We believe policymakers would reinstate that downside risks to the economic outlook in the near-term, while adding some optimistic flavor over
Closing changes for the main European bourses: UK FTSE 100 -2.0% — worst day in nearly two months German DAX -1.6% — worst day since Jan French CAC -2.2% — worst of 2021 Spain IBEX -2.0% — worst of 2021 Italy MIB -2.4% — worst of 2021 That’s not a pretty picture. US equities are
By Andy HomeLONDON: Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled “Copper is the
Some renewed concerns over global spread of coronavirus appears to be putting risk-on rally to a halt. In Japan, Tokyo Governor is seeking the government o declare a state of emergence to curb the infections ahead of the Olympics that just three months away. Situation in some countries like India remains severe. European Commissions said
Latest data released by Japan’s METI – 20 April 2021 Prior -1.7%; revised to -1.0% Slight delay in the release by the source. The statistic basically measures the total value of services purchased by Japanese businesses over the month.Invest in yourself. See our forex education hub. A minor improvement in February but it comes after the
With the weather office projecting normal monsoon rains this year, the agriculture sector is hoping for a healthy year, but any disruption in weather patterns may disturb the mood for commodity markets. That was the message from market watchers after the India Meteorological Department projected a bountiful monsoon season even as coronavirus restrictions loomed large