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SINGAPORE: A coordinated release from government oil reserves led by the United States may add about 70 million to 80 million barrels of crude supply, smaller than the more-than-100 million barrels the market has been pricing in, analysts at Goldman Sachs said. “On our pricing model, such a release would be worth less than $2/bbl,

New Zealand Dollar weakens in Asian session after RBNZ rate hike, and leads other commodity currencies lower. Dollar firms up mildly as it’s ready to extend recent rally, except versus Yen for now. European majors are mixed, with Sterling have a mild upper hand against Euro and Swiss Franc. Gold is treading water below 1800

The Reserve Bank of New Zealand Monetary Policy Statement is due at 0100 GMT. A cash rate hike of 25bps is widely expected, with some expecting 50bps. Previews: Otherwise on the agenda for the session: 2215 GMT from the Reserve Bank of Australia  Panel participation by Michele Bullock, Assistant Governor (Financial System), on Central Bank

New Delhi: Gold in the national capital on Tuesday plunged Rs 810 to Rs 46,896 per 10 gram reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,706 per 10 gram. Silver also cracked Rs 1,548 to Rs 62,720 per

Markets are trading in mild risk off sentiment, while treasury yields also surge. New Zealand Dollar is leading other commodity currencies lower, and Sterling is week too. On the other hand, Euro and Swiss Franc are currently the stronger ones, followed by Dollar and Yen. But overall, it should be noted that Euro’s recovery is

NEW DELHI: Gold and silver futures prices were trading with marginal gains as low level buying was seen early on Tuesday after a sharp fall a day prior. However, the gains were checked as dollar rose. The dollar index held near a 16-month peak after Biden on Monday nominated Fed Chair Powell for a second

Latest data released by Markit – 23 November 2021 Prior 54.6 Manufacturing PMI 58.6 vs 57.3 expected Prior 58.3 Composite PMI 55.8 vs 53.2 expected Prior 54.2 The French and German readings earlier served as a prelude to the beats in the overall Eurozone report here, reaffirming a modest improvement in business activity in both

The RBNZ is ready to increase the policy rate again this week. The question is whether, in light of the latest strong inflation data, whether the hike is +25 bps or +50 bps. We continue to expect the former. Several banks have lifted the mortgage rates, while bond yields have risen after October’s rate hike.

Goldman Sachs are eyeing the flash PMIs for November for upside surprises as posted yesterday. We’ll have to wait to get the preliminary PMIs from Europe etc. but they kick off from Australia on Tuesday, 23 November 2021.   2145 GMT New Zealand Retail sales for Q3  expected -10.5% q/q (lockdown impact), prior 3.3% prior 33.3%

New Delhi: Gold price in the national capital on Monday gained marginally by Rs 17 to Rs 47,869 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,852 per 10 gram. Silver surged Rs 444 to Rs 64,690 per kilogram from Rs 64,246

Euro stays generally soft today even though there is no follow through selling yet. It’s reported that Germany’s acting Chancellor Angela Merkel urged in a CDU meeting tougher restrictions to combat the fourth wave of coronavirus infection. But the news was shrugged off as the markets have probably priced in a return to lockdown in

Wednesday meeting  The NZD should remain bought into the RBNZ meeting this week with OiS swaps pricing looking at a 100% probability of a 25bps hike to 0.75%. Furthermore, some analysts think that the the RBNZ could surprise with a 50bps rate hike. Inflation is red hot New Zealand Q3 inflation has risen at its

NEW DELHI: Gold and silver futures prices were trading flat with negative bias on Monday as commentary from central banks suggests there could be a rate hike earlier than expected, which will be detrimental to bullion counters. Bundesbank president Jens Weidmann publicly contradicted the European Central Bank’s official line on Friday, warning that inflation may

Dollar’s rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed ahead of Canada CPI. Much volatility is likely in the day ahead. In other markets,

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

South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometer in length, the much-coveted hoard could be worth about $5 billion at current prices. In the esoteric world of aluminum, those in the know say the stockpile in Vietnam is the biggest they

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