Risk-on trades dominated the US markets overnight, as Fed officials indicated the willingness to keep accommodative measures in place. Yet, sentiments turned mixed in Asian markets. Hong Kong and Chinese stocks are weighed down by US President Donald Trump’s decision to end Hong Kong’s special status, after China imposed national security law by passing the
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A legislative order to hold China accountable for its action Hong Kong Trump says Hong Kong’s peoples’ freedom has been taken away HK to be now treated like mainland China Trump adds that he holds China fully responsible for concealing the virus and unleashing it on the world. For bank trade ideas, check out
Gold prices inched up on Tuesday, rising above the $1,800 level, underpinned by concerns over mounting coronavirus cases globally and as many regions reintroduced curbs to restrict the outbreak. Spot gold rose 0.2% to $1,805.83 per ounce by 10:42 am EDT (1442 GMT). U.S. gold futures fell 0.2% to $1,810.20. “We are still bullish on
Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the second strongest so far. On the other hand, New Zealand Dollar is the worst performing
ZEW with some remarks accompanying the earlier survey After a very poor Q2, experts expect to see gradual increase in GDP in 2H 2020 The headline refers to the expectations reading in the survey earlier, after some budding optimism seen in the earlier months. This pretty much sums up economic sentiment at the moment within
LONDON: Oil prices fell on Tuesday on worries that new restrictions to stem surging US and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August. Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and US West Texas Intermediate (WTI)
Sentiments seemed to have a turn as surge of coronavirus cases in the US pushed California back into lockdown. Asian markets are under some selling pressure. But the more indicative development was the sharp -2.13% decline in NASDAQ overnight. It remains to be seen if tech index is finally giving up its resilience as investors
A Bloomberg video interview with Credit Agricole head of G10 FX research and strategy at Credit Agricole While we await Asian markets getting a little more active for the session, a quick watch if you are interested: If the vid does not work, link here to page For bank trade ideas, check out eFX Plus
LONDON/DUBAI: The oil market is getting closer to balance as demand gradually rises, OPEC‘s secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May
Risk appetite is generally firm today with European indices trading in black while US stocks also open higher. Rebound in oil prices help push Canadian Dollar to be the strongest one today, followed by Australian. On the other hand, Yen and Swiss Franc are generally weakest. Though, it’s a surprise that Sterling is among the
Reaffirms that Germany’s recovery process is just beginning Industrial production has passed its lowest point Increase in received orders indicates output will pick up in the coming months But risks exist particularly in very slack demand from outside the euro area There will be GDP growth from Q3 onwards A positive takeaway from the comments
LONDON: Oil prices dropped on Monday on big spikes in COVID-19 infections over the weekend in the United States and elsewhere while traders await an OPEC technical meeting expected to recommend an easing of supply cuts. Brent crude fell 65 cents, or 1.5 per cent, to $42.59 a barrel by 0848 GMT, though prices have
At the BOC meeting this week, we expect new Governor Tiff Macklem to continue Stephen Poloz’s legacy and leave the policy rate unchanged at 0.25%, the effective lower bound. The asset purchases programs (QE) will also be maintained. Canada’s reopening since the June meeting has largely been smooth. Economic data released since then have also
Saudi Arabia and most others in the OPEC+ alliance support increasing output by around 2 million barrels a day say reports ahead of this week’s meeting. Key members of the Organization of the Petroleum Exporting Countries and its Russia-led allies will hold a virtual meeting on Wednesday 15 July There is no further detail on
NEW DELHI: Gold prices in the national capital rose marginally to Rs 49,959 per 10 gram on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 49,951 per 10 gram. Silver declined by Rs 352 to Rs 52,364 per kg from Rs 52,716 per kg on Thursday. In
While we expect BOJ to maintain all of its monetary policy measures unchanged, the central bank would likely downgrade the economic forecasts for FY2020. BOJ’s Tankan survey revealed that companies of all sectors were worse off in 2Q20, sending the sentiment to the weakest level since global financial crisis in 2007/08. Moreover, as suggested in
A look at weekly FX performance It was a strange week in the FX market and felt like nothing happened. Meanwhile in equities, there was the Chinese surge and tech continued to shine. In bonds, Treasury yields broke down and in commodities, gold hit 9-year highs. The one thing to show some life in FX
New Delhi, Jul 12 (PTI) Gold exchange traded funds saw hefty net inflows of over Rs 3,500 crore in the first six months of this year as investors continued to hedge their exposure to riskier assets amid the COVID-19 crisis. In comparison, investors had pulled out Rs 160 crore from this asset class in January-June