News

Remarks via MUFG on the euro, analsyts there affriming they are sticking to their neutral bias for EUR/USD in the month ahead. Citing: ECB’s recent hawkish policy shift has helped to provide some much-needed support for the EUR after it briefly tested and held support from the low in early 2017 at 1.0340. EUR has

Sterling fall broadly today after much worse than expected PMI data raises concerns of recession ahead. On the other hand, Euro jumps as ECB officials continued to talk up July rate hike, while PMI data were solid. Still, the best performer today so far is Yen, which is supported by receding risk-on sentiment. Dollar is

Gold prices touched a more than one-week high on Monday, as an easing dollar supported greenback-priced bullion, although rising U.S. Treasury yields capped gains. FUNDAMENTALS Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90. The dollar began the week

The moves in the financial markets are so far rather indecisive. While US stocks rebounded overnight, Asian indexes turned softer. Dollar and Yen are recovering slightly after yesterday’s selloff. Commodity currencies are retreating. European majors are mixed. While Euro and Sterling advanced against the greenback, there is no follow through buying so far. Technically, EUR/USD

TOKYO: Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing’s promises of stimulus. Brent crude futures for July slid 35 cents, or 0.3%, to $113.07 a barrel by 0122 GMT.

Equities are still looking subdued on the session with tech the laggard after the Snap warning earlier, as risk trades are pulling back some of their advance from yesterday. Here’s a look at some of the moves today: S&P 500 futures -1.1% Nasdaq futures -1.7% Dow futures -0.7% Eurostoxx -0.9% Germany DAX -0.9% France CAC

After 8 straight weeks of declines in the Dow industrial average and 7 straight weeks of the declines in the S&P and NASDAQ indices, starting a new trading week with solid gains is something to cheer about. Will the streaks be broken this week? So far so good. A look at the major indices shows

Euro rises broadly today after hawkish comments from ECB President Christina Lagarde. But so far, Aussie and Kiwi are even stronger on positive risk sentiment. On the other hand, Dollar and Yen are both trading generally lower. Sterling, Swiss Franc and Canadian are mixed for now. Technically, Gold also extends the rebound from 1786.65 short

MELBOURNE – Oil prices rose in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a barrel at 0126 GMT,

Overall market sentiment is mixed in Asian session today, with recover seen in Nikkei but selloff in Hong Kong and China. Aussie is extending near term rebound, following Labor’s win in the federal elections over the weekend. Kiwi is also firmer ahead of RBNZ rate hike. On the other hand, Dollar and Canadian are the

Benchmark iron ore futures in China surged some 7% on Monday, tracking their biggest daily jump in two-and-a-half months, after India increased export duties on some commodities to rein in broadening inflationary pressures. Asia’s third-largest economy raised export duties for iron ore and steel intermediates, with new iron ores and concentrates tariffs increased to 50%

Last week AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, and GBPUSD all finished positive for the week after a strong sell off the week before. EURUSD and GBPUSD rallied the strongest. Will the rally continue for a second week or was that a short relief rally within the longer-term downtrend? AUDJPY Daily chart: Monthly support at 86.24,

Middle Eastern media citing the Financial Times Saudi Arabia plans to continue its Opec+ partnership with Russia despite western pressure on Moscow and a potential EU ban on Russian oil imports. Prince Abdulaziz bin Salman, the energy minister, told the Financial Times that Riyadh was hoping “to work out an agreement with Opec+ . . . which includes Russia”,

Incumbent Prime Minister Scott Morrison conceded defeat Saturday evening. His LNP coalition lost 20 seats, including several high profile MPs. Australian Treasurer Josh Frydenberg lost his seat, a seat held by the conservatives for generations; for 120+ years up until Saturday. Frydenberg lost to an independent. Labor leader Anthony Albanese will form a new Australian

It was another roller-coaster week. Swiss Franc ended as the strongest one after SNB Chairman Thomas Jordan surprisingly said it’s ready to act if inflation solidified. But it should reminded that he reiterated the readiness on intervention too. Euro was somewhat pressured due to selling in crosses. Dollar, Canadian and Yen were the worst performing

Russia has banned nearly 1,000 Americans, including President Biden, Vice President Harris, and many others from the US administration, from entering the country. This comes in response to the US support of Ukraine. From a Foreign Ministry news release: “In the context of response to the constantly imposed anti-Russian sanctions by the United States and

SINGAPORE – Oil prices rose more than $1 a barrel in early Asian trade on Wednesday on hopes of demand recovery in China as the country gradually eases some of its strict COVID-19 containment measures. Brent crude futures were up $1.15, or 1.0%, at $113.08 a barrel at 0042 GMT, while U.S. West Texas Intermediate

There’s a consistent theme of US dollar weakness across the board this week. That goes along with falling yields and rising gold. It’s a picture that looks more like a broader turn than anything we’re seeing in the stock market, though some of the strength into Friday’s close is promising. I’m not a fan of