The New Zealand Institute of Economic Research (NZIER) Quarterly Survey of Business Opinion (QSBO) Very brief summary points: A net 11 percent of businesses expect a worsening in general economic conditions over the coming months, on a seasonally adjusted basis. This is a modest improvement from the 16 percent of businesses which were pessimistic about
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NEW YORK: Oil prices rose nearly 2% on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. Crude prices have remained rangebound in the past three weeks, as growing expectations of surging US economic activity are balanced
Dollar turns softer entering into US session, as traders await the results of auctions of both 3- and 10-year bonds, worth USD 96B in total. Additionally, there will be auction of USD 24B of 30-year bonds tomorrow, and a total of USD 151B in bills this week. It should be noted that this year’s strong
Forex news from the European trading session – 12 April 2021 Headlines: Markets: GBP leads, USD lags on the day European equities mixed; E-minis down 0.1% US 10-year yields up 0.7 bps to 1.665% Gold down 0.1% to $1,743.00 WTI up 1.0% to $59.92 Bitcoin up 0.9% to $60,186 It was a relatively quiet session
NEW DELHI: Silver futures on Monday dropped Rs 98 to Rs 66,885 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 98, or 0.15 per cent, to Rs 66,885 per kg in a business turnover of 9,516 lots. Silver traded lower
Dollar and Yen trade slightly higher on mild risk-off sentiment in Asia. Australian and Canadian Dollar are the weaker ones for the time being. But overall, most major pairs and crosses are stuck in range. Except that, some extra strengthen is seen in Kiwi against Aussie. Kiwi could be ready for a ride ahead of
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NEW DELHI: Silver futures on Friday dropped Rs 552 to Rs 66,949 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 552, or 0.82 per cent, to Rs 66,949 per kg in a business turnover of 9830 lots. Silver traded lower
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +2.31 mmb to 1292.63 mmb in the week ended April 2. Crude oil inventory sank -3 522 mmb (consensus: -1.44 mmb) to 498.31 mmb. Stockpile decreased in 4 out of 5 PADDs. Cushing stock
CHF with a big rebound The theme in markets this month has been retracement and repositioning. Bond yields have been coming back and FX trades that have worked all year are unwinding. Another example is the turn in the Swiss franc this week. It was the top performing G10 currency and gained every day this
NEW DELHI: Aluminium prices on Friday fell by 75 paise to Rs 184.95 per kg in the futures market as participants trimmed their positions amid a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in April declined by 75 paise, or 0.4 per cent, to Rs 184.95 per kg
Markets are generally mixed as FOMC minutes overnight delivered basically what have be told. Asian stocks are mixed, following the US session. Gold and oil are both stuck in range. In the currency markets, Euro and Swiss Franc are paring some gains. But both stay as the best performer for the week so far. Sterling
Forex news for New York trade on April 9, 2020: Markets: S&P 500 up 0.8% to record 4128 US 10-year yield up 3.75 bps to 1.66% Gold down $13 to $1743 WTI crude down 25-cents to $59.35 CAD leads, AUD lags The Canadian jobs report was a stunner and far-surpassed expectations. The market’s response was
CHANDIGARH: The wheat procurement in Punjab will begin on April 10, the state’s food, civil supplies and consumer affairs minister Bharat Bhushan Ashu said. He said the state government has made arrangements in this regard, and procurement agencies and FCI would purchase the crop at Rs 1,975 per quintal in the current rabi season. Ashu
USD/JPY’s near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We’ll monitor if the Yen’s rally is a prelude to some other developments in the markets. For now, Kiwi
Back in November last year Chinese authorities halted Ma’s Ant Group US$34.5B IPO. Jack Ma, who controls Alibaba, had criticized domestic (and global) regulators for stifling financial services innovation, criticism the CCP did not appreciate. Ma is back in hot water again, this time Chinese regulators have hit Alibaba with an 18.23 billion yuan ($2.8 billion)
April 9: Gold prices fell more than 1% on Friday, weighed down by a jump in U.S. Treasury yields and a rebound in the dollar, but bullion was still on course for its first weekly gain in three weeks. Spot gold was 0.7% lower at $1,744.07 per ounce by 1:44 p.m. EDT (1744 GMT), having
Swiss Franc and Euro ended as the strongest ones last week, as investors reversed their short positions accumulated in Q1. In particular, such reversals pushed Sterling to be the worst performing one, suffering heavy pressure against both Euro and Franc. The outlook for European looked a bit less pessimistic on a couple of factors. But