Oil rises, gold rally continues
Tue, 18 May 2021 11:27:58 +0000
Oil rises on re-opening optimism Re-opening optimism is boosting oil prices, which now trade at around two-year highs. Western economies such as the US and the UK are easing lockdown restrictions, driving fuel demand and overshadowing lingering demand concerns in parts of Asia as Covid cases rise. The oil market has been in a tug […]
A dovish Fed and improving UK jobs market lift European stocks
Tue, 18 May 2021 11:24:27 +0000
European bourses have powered higher out of the starting blocks on Tuesday, boosted by the Fed’s promise of low rates for longer and upbeat UK jobs data. Inflation concerns dominated the markets last week, but they’re starting to ebb after softer-than-expected US consumer spending and further reassurance from the Fed. Last night it was the […]
Aussie climbs, consumer confidence next
Tue, 18 May 2021 10:59:52 +0000
The Australian dollar has recorded considerable gains on Tuesday. In the European session, AUD/USD is trading at 0.7800, up 0.53% on the day. After sharp losses last week, the Aussie has clawed higher and is back in 78-territory. The US dollar received a lift last week, after a surprising surge in the April inflation numbers. […]
Oil and gold head higher
Tue, 18 May 2021 08:45:42 +0000
Oil grinds higher Oil prices ground higher overnight as black gold continued to benefit from recovery sentiment in the US/Europe/China axis. Brent crude rose 1.05% to USD69.45 a barrel, advancing to USD69.60 a barrel in Asia. WTI rose 1.25% to USD66.30 a barrel, adding another 15 cents toUSD66.45 a barrel in Asia. Brent crude is […]
US dollar dips as inflation concerns ease
Tue, 18 May 2021 08:39:02 +0000
The US dollar beats a modest retreat The pace of the US dollar reversal after last week’s mid-week inflation scare slowed overnight, with the greenback finishing modestly lower. The dollar index fell 0.12% to 90.20 and has eased another 0.10% to 90.10 this morning, as Asian markets race to discount viral fallouts regionally. That leaves […]
Asian markets sharply higher
Tue, 18 May 2021 08:30:21 +0000
Asian equity investors get bored with selling US markets gave Asia no lead overnight, with US equities falling intra-day before recovering to finish slightly lower. Part of the reason for the cautious finish by Wall Street may have been remarks from Fed FOMC member Robert Kaplan, who raised the possibility of tapering and rate hikes in […]
To and fro
Tue, 18 May 2021 08:10:01 +0000
New York’s overnight session has not given Asia much to sink its teeth into today. The US dollar eased ever so slightly, bond yields rose ever so slightly, and equities fell ever so slightly, albeit they recovered from an intra-day sell-off. Only the commodity and precious metal space showed signs of life, with gold and […]
The Bitcoin drama continues
Mon, 17 May 2021 16:09:51 +0000
A Sunday afternoon Twitter storm sent the cryptocurrency markets into chaos. Elon Musk tweeted “indeed” to a post that indicated Bitcoin supporters could get punished next quarter if they find out Tesla dumped the remaining holdings of Bitcoin. Musk has been actively supporting Dogecoin and becoming a critic of Bitcoin. He reminded traders that Bitcoin […]
Dollar mixed, Oil reverses higher, Gold higher
Mon, 17 May 2021 15:59:19 +0000
FX Expectations still firmly remain in place for a strong synchronized economic boom in the second half of the year which should have safe-haven currencies under pressure. The key observation for currency markets is that most of the advance of the economies (US, UK, Australia, New Zealand, and Germany) are doing well, while emerging markets […]
US Open: Soft start for stocks, Empire State pricing pressures, Mega Media Deal, China cools
Mon, 17 May 2021 15:50:40 +0000
US stocks are edging lower following mixed Chinese economic data, concerns that Taiwan and Singapore success in fighting COVID is in jeopardy, and after the Empire State manufacturing survey solidified the inflationary theme that is running wild on Wall Street. Earlier, a key truce was reached between the US and EU on steel and aluminum […]
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