As we have anticipated, the ECB left all monetary policy measures unchanged in April. Policymakers indicated the current pace (increased since March) of asset purchases in the PEPP would remain intact. Other monetary policy measures will stay unchanged with the Asset Purchase Program (APP) (traditional QE) at 20B euro/ month and the deposit rate at
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Daily thread to exchange ideas and to share your thoughts Major currencies are little changed on the day after seeing more of a risk positive session yesterday, with commodity currencies leading gains. The loonie was a standout after the more hawkish tilt from the BOC policy meeting, seeing USD/CAD slide all the way from 1.2630 to 1.2460
NEW DELHI: Gold and silver futures were trading below the flatline on Thursday but losses were checked by a sagging dollar and weaker US Treasury yields that boosted the metal’s appeal. Benchmark US 10-year Treasury yield was pinned below 1.6 per cent, reducing the opportunity cost of holding a non-yielding bullion. The dollar index fell
Canadian Dollar surges broadly overnight after BoC’s hawkish tapering. Yet, it’s currently still one of the weakest for the week together with Dollar. The post-meeting buying was not enough to turn the Loonie into black against others yet. As for today, markets are rather quiet so far. US stocks staged a strong rebound overnight, which
Provisional closes are higher today The major European indices fell sharply yesterday some falling over 2% on the day. Today there has been a retracement of some of those declines. Looking at the provisional closes: German Dax, +0.44% France’s CAC, +0.82% UK’s FTSE 100, +0.66% Spain’s Ibex, +0.85% Italy’s FTSE MIB, +0.3% in other markets as
By Andy HomeLONDON: Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled “Copper is the
The financial markets are trading in mixed mode today. European stock indices are mixed while US futures point to slightly lower open. Sentiments are slightly on the risk-off side on coronavirus concerns, but selloff is so far relatively shallow. There is also no clear momentum for Yen and Dollar to extend the rebound yet. Canadian
Forex news for Asia trading for Wednesday 21 April 2021 USD/JPY dropped under 108 again here today (it did so briefly yesterday also) before rebounding (a smaller rebound this time as I post) and subsequently dropped under 108 again (and is still under as I update). Chatter of a battle of flows, bidders said to
Gold prices rose on Wednesday, hovering near a seven-week high hit earlier this week, as a soggy dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal. Spot gold was up 0.2% at $1,779.85 per ounce by 0205 GMT, after hitting its highest since Feb. 25 at $1,789.77 on Monday. U.S.
Yen rebounds notably overnight, following the pull back in stocks. Market sentiment was weighed down by renewed concerns over coronavirus infections, which also dragged down oil prices. Dollar also followed and recovered. On the other hand, commodity currencies reversed their earlier gains. Overall, Yen is currently the strongest for the week so far, followed by
It’s been one year since oil was negative WTI is down 88-cents today to $62.53in a disappointing reversal after hitting a one-month high of $64.38 earlier today. We’re into the roll today so I’m looking at the June contract. The important recent move was on April 14 when crude jumped 5% and broke out of
Maize refined oil appears to be finding its place among mustard, soybean, cottonseed and groundnut oils. In the past 4-5 years, India’s maize oil production has almost doubled. Maize oil is consumed more in states of Gujarat and Maharashtra compared with other parts of the country. Northern states are also opening their doors to the
Some renewed concerns over global spread of coronavirus appears to be putting risk-on rally to a halt. In Japan, Tokyo Governor is seeking the government o declare a state of emergence to curb the infections ahead of the Olympics that just three months away. Situation in some countries like India remains severe. European Commissions said
Forex news for Asia trading for Tuesday 20 April 2021 The Australian, Canadian and New Zealand dollars all traded higher against the US dollar during the session, easily outperforming. More murmurings of commodity price gains did the rounds assisting these currencies higher. USD/JPY had an early move down, it took out a few stop loss
NEW DELHI: Gold futures were trading lower on Tuesday after hitting a two-month high in the previous session, as a rise in US Treasury yields eclipsed support from a weaker dollar. On the other hand, silver futures gained. Benchmark 10-year US Treasury yields rose above 1.6 per cent after hitting a five-week low last week,
Yen bounces broadly in Asian session session today, after Japan reported solid trade data. Sterling is currently following as second strongest, then Aussie. On the other hand, Euro weakens in general, dragging down the Swiss Franc too. The developments came as Sterling is reversing recent decline against other European majors. Dollar and Canadian are both
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Rubber prices on Monday tanked more than 4 per cent amid thin trade, as a surge in Covid-19 infections added to concerns about business activity and overall economic recovery. MCX rubber for April delivery traded Rs 664 or 4.02 per cent down at Rs 15,850 per 100 kg in afternoon deals. Earlier on Monday, it