European Open: Equities Broadly Lower, GBP/AUD Breaks Out
Asian Indices: Australia’s ASX 200 index fell by -125.9 points (-1.7%) and currently trades at 7,281.40 Japan’s Nikkei 225 index has fallen by -811.71 points (-2.73%) and currently trades at 28,696.71 Hong Kong’s Hang Seng index has fallen by -526.61...
Euro Goes into Freefall; Have Investors Become Too Pessimistic?
The euro’s woes just keep getting worse and worse. The single currency has ploughed more than one-year lows against the US dollar and pound, and six-year lows versus the Swiss franc. Expectations of diverging monetary policies had been weighing for...
Oil And Gold Consolidate
Oil consolidates post-Biden rally Oil prices were almost unchanged overnight and remain so in muted Asian trading. Brent crude is trading at USD 82.35 today, with WTI trading at USD 78.35 a barrel. US official Crude Inventories rose unexpectedly by...
Brent Crude – Correction Over?
Or more to go? Oil prices are on the rise again after a correction over the last month but how much support does it now have? It didn’t take long for oil to rebound after the US, China, India, Japan, UK and South...
Oil Gives Biden A Bashing
SPR release triggers gains for oil Oil delivered a resounding slap to the face of President Biden overnight after he finally announced his well-telegraphed intention to release oil from the SPR onto open markets. Totalling some 70 to 80 million...
Dollar Shines again as Gold and Lira Prints Losses
Biden’s Fed picks drives dollar up The Fed nomination decision caused some tremors in the financial markets on Monday. In the decision’s wake, futures markets have firmed up expectations for a rate hike in June, which had previously been biased towards July. Governor Brainard has been selected to...
Futures Mixed after Powell Re-nomination, PMIs Due
US stocks are set for a mixed start with the Nasdaq underperforming following Fed Chair Powell’s re-nomination yesterday. PMIs are due next. US futures Dow futures +0.06% at 35648 S&P futures -0.04% at 4681 Nasdaq futures -0.21% at 16348 In...
RBNZ Preview: Rate Rise Unlikely To Boost The Bird – NZDUSD
The Q3 unemployment rate fell to a record-equalling 3.4% at the start of November, matching the rate last seen in Q4 2007. “The fall in the unemployment rate is in line with reports of difficulty finding workers and high labour...
RBNZ Meeting: Single or Double Rate Hike?
The Reserve Bank of New Zealand (RBNZ) will wrap up its latest meeting at 01:00 GMT Wednesday. A rate increase is definitely on the menu – the real question is how much rates will be raised. There’s no real reason...
The ECB Will To Take Action On Inflation Anytime Soon
Markets Rising European corona infections forced governments to take new containment measures last week, triggering a broad risk-off repositioning with Europe evidently in the eye of the storm. Uncertainty on the short-term impact on EMU growth only reinforced doubts whether...