Will the Coronavirus Infect the RBA’s Policy?
The Reserve Bank of Australia (RBA) will announce its rate decision on Tuesday at 03:30 GMT, and markets assign only a 25% chance for a rate cut. While the aussie could spike up if policy is indeed kept unchanged, any...
WTI Oil Outlook: Bears Pressure Key $50 Level But Final Break Might be Delayed for Consolidation
WTI oil remains in red and extends to new six-month low ($50.66) on Monday, increasing pressure on psychological $50 level. The sentiment remains extremely weak on persisting concerns about strong negative impact on global oil demand on spreading China virus....
Markets: Coronavirus boosts contrarians
It didn’t take long for Nouriel Roubini, the economist known as Dr Doom, to warn that the stock market selloff in late February was a signal of much worse to come, as he ranked the coronavirus among the “white swans”...
US manufacturing activity rebounds in January
Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, November 20, 2019. Tom Brenner | Reuters U.S. factory activity unexpectedly rebounded in January after contracting for five straight months amid a surge in new...
Coronavirus is cost and opportunity for Asia’s banks
Across Asia, banks are rolling over loans, helping with repayments, and working hard to get deals done: anything to help struggling clients deal with the growing threat from the coronavirus Covid-19. In Singapore, UOB is allocating S$3 billion ($2.14 billion) to...
Dow Jones Outlook: Bears are Pausing above Rising Daily Cloud
The Dow Jones bounces on Monday (up 0.77% from opening), recovering some ground after last Friday’s heavy losses (2.05% down for the day, the biggest one day fall in six months). Fears of coronavirus spreading and rising death toll keep...
Sterling Tumbles on Worries Over Negotiations With EU, Euro Dragged Down
Focuses in the forex markets turned temporarily from China’s coronavirus outbreak to Brexit. Both EU and UK expressed strong positions regarding up coming trade negotiations. Their stance reminds traders that risk of cliff-edge Brexit by year end remains. Sterling suffers...
Chinese Stocks Fall Apart, But Currencies Take A Breather
Equities in China fall ~8%, but broader market stabilizes after Friday’s selloff Recession fears reignite, pushing dollar down as Fed rate cuts are priced in Pound drops as Boris ‘talks tough’ – prelude of things to come? US Democratic primary...
Gold Remains Optimistic Despite Receding To Ichimoku Cloud
Gold’s recent withdrawal from 1,594 is tackling the uptrend line, drawn from 20 December 2019, and the 1,575 level – near the Ichimoku cloud – which is the 23.6% Fibonacci retracement of the up leg from 1,458.42 to 1,611.28. Moreover,...
India’s finance minister says growth target of 6% to 6.5% in 2021 is ‘realistic’
India’s finance minister said there are signs pointing to a turnaround in Asia’s third-largest economy, and the government’s growth targets for 2021 are within reach. “I say it is realistic because we’ve taken various factors on board, and expect the...
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