Tough to bet against the bond market It was easy enough to dismiss the drop in yields after the FOMC as a short squeeze but a second fall to these levels is a bigger concern. Maybe these are gyrations around the turn of the quarter but if that’s the case, it’s unusually large and long-lasting.
Month: July 2021
By Stanley Reed Oil prices touched their highest levels in years Tuesday, a day after OPEC, Russia and their allies failed yet again reach agreement on production increases. A teleconference planned for Monday never started, following meetings Thursday and Friday that did not reach a deal. West Texas Intermediate, the U.S. bench mark, rose as
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with Sterling. European stocks are trading mildly
Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform. Fundamentals Dubbed as Aave Pro, the platform expects to become a “permissioned liquidity protocol” by offering institutions, corporates, and fintech clients access to decentralized finance (DeFi). That said, it would
WTI closes in on its 2018 highs going into European trading Oil is up a little over 2% on the day as price now climbs to $76.70 levels and nears the 2018 high @ $76.88 after OPEC+ talks get abandoned yesterday as the standoff between Saudi Arabia and the UAE continues. From a technical perspective,
ECB On the 22nd of July the ECB meet again and speculation will once again rise about whether the €1.85 billion emergency asset purchase program will continue. This question is of interest to currency traders as easing of this program is the forts step prior to rising interest rates and that sends the euro higher.
DUBAI: Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said. The UAE‘s opposition this weekend to a proposed eight-month extension to output curbs, favoured by Saudi Arabia, was
New Zealand Dollar is the star winner in Asian session today on RBNZ rate speculations. The Kiwi has taken Aussie higher today, but the latter lost some steam after unsurprising RBA policy decision. Though, Aussie is still maintaining most of gains, together with Sterling. On the other hand, Dollar, Yen and Euro are the weakest
USD/CAD fades bounce off intraday low, reverses Monday’s gains. Bearish MACD, sustained weakness below previous support keeps sellers hopeful. Bears aim for five-week-old support line, short-term horizontal line adds to the upside filters. USD/CAD holds lower ground near 1.2325, down 0.14% intraday, while extending pullback from nearby resistance line, previous support, during early Tuesday. Not
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Dipping back below the 100 hour MA The EURUSD has been trading above and below the 100 hour MA in trading today. The price of the pair started the day below the 100 hour MA after rising toward that MA on Friday and finding sellers ahead of the MA level (see red number circle 9).
PM Johnson announces the end of UK restrictions on July 19 The pandemic is far from over We are seeing cases rise We must reconcile ourselves to more deaths from Covid Our vaccines have helped to break the link between disease and death if we cannot reopen our society in the next few weeks, then we must
DUBAI: OPEC+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates balked at a proposed eight-month extension to output curbs. Saudi energy minister Prince Abdulaziz bin Salman on Sunday called for “compromise and rationality” to secure a deal after two days of failed discussions last week. But
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses
USD/CAD reversed its direction in the second half of the day. WTI rose above $76 following the latest OPEC headlines. US Dollar Index continues to move sideways above 92.00. The USD/CAD pair rose to a daily high of 1.2372 in the early American session but reversed its direction, erasing the majority of its gains. As
The State Bank of Vietnam is reportedly set to become the latest central bank to delve into explorations of the feasibility and operationally of central bank digital currencies (CBDCs). Its brief, distinct from some other countries, is to trial a digital currency that would expressly be built on blockchain technology, rather than a centralized protocol.
The greenback recovers slightly to start the new week The US jobs report on Friday didn’t do the dollar much good as it was the weakest performer at the end of last week, trailing behind the major currencies bloc. To be fair, there wasn’t much to digest in the report with the headline figure holding
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