Julia Goh, Senior Economist at UOB Group, and Economist Loke Siew Ting, reviews the latest BSP event. Key Takeaways “As expected, Bangko Sentral ng Pilipinas (BSP) continued to retain its accommodative monetary policy stance… The central bank kept the overnight reverse repurchase rate unchanged at 2.00% for the seventh straight meeting. Likewise, both the overnight
Month: September 2021
Bitcoin (BTC) is at the start of another week with China’s latest “ban” behind it — but its next “FUD” story is already brewing. The United States’ infrastructure bill is back on the table, with this week likely to see a definitive vote on what could shake up cryptocurrency businesses. At the same time, fundamentals
USD/JPY a little lower on the day, keeping at 110.63 Invest in yourself. See our forex education hub. The pair is contesting daily resistance around 110.60-70 currently with the August high at 110.80 also adding to that in limiting any further upside potential since the latter stages of last week i.e. when Treasury yields broke
China’s power crunch a hot topic to start the week The State Grid is promising to meet household electricity demands and to ensure that there is sufficient power supply to avoid outages as much as possible. From earlier: Invest in yourself. See our forex education hub. The power crunch in China is going to have
NEW DELHI: Gold and silver futures rose on Monday as persistent concerns over the fate of debt-laden property giant China Evergrande and its broader impact bolstered the precious metal’s safe-haven appeal. Evergrande missed a payment on offshore bonds last week, with further payment due this week. This sent shivers down the spine of equity investors
The Fed turned more hawkish in September, with the first rate hike pushed forward to 2022. Fed Chair Jerome Powell indicated that QE tapering will come “soon”. The staff downgraded the GDP growth forecast for this year, but revised higher that for 2022 and 2023. Inflation projections were revised higher all the way through to
EUR/USD fades bounce off five-week low flashed last week. German election polls challenge Angela Merkel’s reign, dim bloc’s economic reform hopes. Risk-off mood underpins US dollar’s safe-haven demand, US Treasury yields cheer Fed tapering concerns. US Durable Goods Orders, risk catalysts eyed for fresh impulse, updates from Germany, Evergrande are the key. EUR/USD bears remain
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China has attempted to stifle the crypto sector’s growth on several occasions in the past 12 years but barring a minor blip, the blanket bans on crypto-commerce have not altered the long-term growth of cryptocurrencies. This shows that no one country, even if it is the second-largest economy in the world, can halt the emergence
100 hour moving average at 0.72596 is now resistance. The AUDUSD has moved lower on the back of anxiety about China and risk off sentiment, combined with some technical breaks and bearish tilts. The 200 hour moving average which was broken yesterday, was rebroken to the downside today and stayed below. The 100 hour moving average has now been broken at
On Sunday, the diesel price was raised by 25 paise per litre, marking the second hike in rates after state-owned oil corporations abandoned a three-week rate freeze after worldwide oil prices surged to their highest level since 2018. According to a price statement from state-owned fuel dealers, the price of diesel has been raised to
Heading into a German Federal election on Sunday, the latest polls suggest that the race to the country’s leadership tightens, as the key candidates hold their final rallies. Sunday’s vote will mark the end of Chancellor Angela Merkel’s 16 years in office. Exit polls will be released when voting ends at 1600GMT on Sunday and
For the week, the major indices close with gains The major European indices are closing the day with declines, but for the week, they held on to gains. The provisional closes are showing: German DAX, -0.8% France’s CAC, -1.0% UK’s FTSE 100, -0.35% Spain’s ibex -0.1% Italy’s FTSE MIB -0.4% For the trading week, the major indices closed higher:
Lumber prices begin to tick higher In the past few months, I’ve seen far too many charts overlaid with lumber trying to prove that everything is about to collapse. I can count on one hand the times that I’ve seen anything useful come out of the overlay of two unrelated charts and lumber will be
NEW DELHI: The US Federal Reserve’s announcement to start tapering its bond purchase programme “soon” and the probability of earlier-than-expected rate hike have come as a big blow to bullion investors. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
The Federal Reserve on Wednesday held benchmark interest rates near zero, but indicated rate hikes could be coming a bit sooner than expected while significantly cutting their economic outlook for this year. Along with those largely expected moves, officials on the policymaking Federal Open Market Committee indicated they will start pulling back on some of
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