RBNZ announced that a Funding for Lending Program (FLP) will be implemented in “early December” with an initial size of about NZD 28B. Further details will be announced in coming weeks. The program aims at providing loans to commercial banks at low cost (e.g.: 0.25%). The central bank left other monetary policy measures unchanged: OCR
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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
Guar seed prices on Wednesday rose by Rs 21 to Rs 4,173 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market. On the National Commodity and Derivatives Exchange, guar seed for November contracts increased by Rs 21, or 0.51 per cent, to Rs 4,173 per
New Zealand Dollar surges broadly today as markets see that RBNZ has less need to cut into negative next year. Kiwi’s strength is somewhat taking Aussie higher too. On the other hand, Sterling is paring some of yesterday’s strong gain while Dollar is following as second weakest for now. Market activity could be subdued for
Gov urging folks to stay at home but falling short of making it a formal order. There were more than 1,300 new cases identified yesterday, and unfortunately, 7 additional deaths. Our 14-day test positivity rate is 13.7 percent. It’s continuing to climb. For the most recent 7-day period, cases are growing at a rate of
LONDON: Oil prices rose on Tuesday as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand of new lockdowns to curb the virus. Brent crude futures rose 34 cents, or 0.8%, to $42.74 by 1312 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 20
China’s inflation moderated in October. Headline CPI eased sharply to +0.5% y/y, from +1.7% a month ago. The decline was mainly driven by food price, of which growth decelerated to +2.2% from September’s +7.9%. Non-food price actually stayed flat at 0%, while core CPI also steadied at +0.5%. Concerning food price, the deceleration was due
What’s coming up It’s a light day for economic data but there is the September JOLTS report at 1500 GMT and a 10-year auction at 1800 GMT. What will keep things moving are a series of central banker comments: 1400 GMT ECB’s Knot 1500 GMT Fed’s Rosengren & Kaplan 1700 GMT Fed’s Kaplan again 1730
New Delhi: Leading commodity bourse MCX on Tuesday said its bullion index MCX Bulldex recorded the highest single-day turnover of Rs 652 crore on November 9 for the first time since its launch. The real-time bullion index, launched on August 24, has gold and silver as underlying, with gold having a weightage of 70.52 per
Sterling surges broadly today, as traders apparently cheers Prime Minister Boris Johnson’s defeat in the Lords regarding his internal market bill. But the forex markets are relatively quiet elsewhere. New Zealand Dollar is currently the second strongest, following the Pound. Swiss Franc is the weakest, followed by Canadian and then Dollar. US futures are mixed,
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 surged on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine, boosting risk assets around the globe. Brent crude was up $3.14, or 8%, to $42.61 a barrel at 11:24 a.m. EDT (1624 GMT), while U.S. West
The world, at least the financial markets part, is in euphoria today on news that tens of millions doses of coronavirus vaccine are ready this year, to pull it out of the coronavirus pandemic that took away over 1.2 millions lives. DOW future is in massive rally, up around 1500 pts of writing while European
Huge moves in financial markets Big congratulations to Pfizer and all the scientists there who are hopefully going to save us all from covid-19. The benchmark for ‘success’ in the vaccine was 50% efficacy but at 90% this far exceeds that. The market is absolutely loving this and there are going to be some huge
New Delhi: Gold prices rose for the fourth consecutive day on Monday, gaining Rs 277 to Rs 52,183 per 10 gram in the national capital on a strong global trend, according to HDFC Securities.In the previous trade, the yellow metal had closed at Rs 51,906 per 10 gram. Silver prices also jumped Rs 694 to
Yen and Dollar weaken generally in Asian session today as strong risk appetite continues. Notable rally is also seen in gold today, extending its near term rally. New Zealand Dollar is currently leading other commodity currencies higher. European majors are generally mixed. Focus would turn to the neverending Brexit negotiations, as EU chief negotiator Michel
China’s currency has been moving higher against the USD since June. The Financial Times today have a pice up on analysts bullish on the currency. Analysts anticipate additional gains with arrival of more predictable White House After Joe Biden’s victory was declared on Saturday “I think nearly all the volatility has been driven by the
By Julian Lee This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning