Euro softens mildly after ECB announced to speed up PEPP purchases in the next quarter. But loss is relatively limited as the overall envelop was kept unchanged. Dollar and Yen are currently the worst performing one for today, on the back of risk-on sentiments. Commodity currencies are currently the stronger ones, as led by Aussie.
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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
BlackRock Inc. just delivered a double-barreled warning on the merits of holding traditional haven gold right now. Bullion is proving to be a less effective hedge against moves in other assets, such as stocks, as well as inflation, according to Russ Koesterich, portfolio manager for BlackRock’s Global Allocation Fund. Moreover, gold faces headwinds should the
While leaving the monetary policy measures unchanged, the ECB indicated that it would increase asset purchases in coming months. The move is a response to the rise of bond yields which could tighten the financial conditions. On economic developments, the central bank attributed the likely contraction in 1Q21 to high coronavirus infection rates, mutations and
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
March 11: Gold prices inched down after hitting a more than one-week peak on Thursday, as elevated U.S. Treasury yields continued to remain a headwind for the precious metal. FUNDAMENTALS * Spot gold was down 0.1% to $1,725.17 per ounce by 0043 GMT, after hitting its highest since March 3 at $1,727.65 earlier in the
As widely anticipated, the BOC left all monetary policy measures unchanged. While being more upbeat about the economic developments, the members noted that the policy rate will stay unchanged as least until inflation target of 2% is “sustainably” achieved. Meanwhile, they hinted of adjusting the size of asset purchases as the economy continues to improve.
Absolute mess of Russia headlines with a translation error Sees oil inventories falling to 5-year average in 2021 Sees demand at pre-crisis level in 2022 Oil deficit is around 1-2 mbpd Sees risk non-OPEC+ raises output amid higher oil prices This was a total mess. Initial headlines said Russia was raising oil production by 890K
Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China’s clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in power and construction, hit a
The markets are rather quiet so far today with slow news flow. Major currency pairs and crosses are stuck inside yesterday’s range, in consolidative trading. Other markets are also mixed, with some hope for DOW to hit new records, but other indices are weak. US consumer inflation data provides no special inspiration to traders. Focuses
Chinese media (Caixin) with a piece saying that despite the government not proposing to set targets for 2021 through 2025, targets have not been wholly scrapped. Referring to remarks from Hu Zucai, deputy head of the National Development and Reform Commission. HU says a numerical target for GDP growth has been abandoned. On the other hand, Premier
SINGAPORE: ticked higher on Wednesday, after falling for two straight sessions, with investors looking ahead to U.S. inventories data due later in the day for pointers on where prices will head next. Brent crude for May rose 15 cents, or 0.2%, to $67.67 a barrel by 0144 GMT, while U.S. West Texas Intermediate crude for
Macroeconomic developments have changed significantly since the January ECB meeting. One of the most prominent developments is the rise in inflation expectations and bond yields. As the ECB has pledged to maintain a accommodative monetary policy, it would be of great interest to the market as to how it is going to handle the unwarranted
The days of heavy spending are over Chevron is the world’s 8th largest oil company, including sovereign-held companies. It produced 3.08 million barrels per day last year. Today at its investor day, the company affirmed that it will lock in its 35% pandemic spending cuts through 2025, with organic capital and exploratory expenditures of $14
NEW DELHI: Gold in the national capital on Tuesday gained marginally by Rs 35 to Rs 43,996 per 10 gram amid gain in global precious metal prices, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 43,961 per 10 gram. Silver also jumped Rs 553 to Rs 65,621 per
Dollar retreat broadly today as 10-year yield pares gain after failing to sustain above 1.6 handle again. NASDAQ is also set for a rebound while DOW might try to extend the record run. At the time of writing, Yen, Euro and Sterling are following as the next weakest. Australian Dollar is currently the strongest one,
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
NEW DELHI: Crude oil prices rose by Rs 47 to Rs 4,891 per barrel on Monday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 47, or 0.97 per cent, at Rs 4,891 per barrel in 6,114 lots. Analysts said raising