Sterling Is Struggling – 4 Reasons For The Downfall
The British pound is falling some 100 pips against the US dollar and the picture is not much brighter for Sterling against the euro or the yen. Political developments over the weekend dominate the scene, but there are other reasons for the drop as well. Here are four reasons for the fall of the pound […]
Crude Oil Prices Eye OPEC, EIA Reports To Inform Global Glut Bets
Crude oil prices continued to mark time below $58/barrel absent a clear-cut catalyst to establish direction on Friday. The deadlock may be broken as OPEC issues its monthly assessment of compliance with cartel-led production cuts while the EIA publishes US drilling productivity statistics. Taken together, the two reports ought to inform on global glut reduction prospects. Gold prices edged down a […]
On The Fly: Top Five Weekend Stock Stories – Monday, Nov. 13
Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Alibaba (BABA) announced that $25.3B of gross merchandise volume was settled through Alipay on November 11, or Single’s Day, an increase of 39% compared to 2016. Mobile GMV settled through Alipay accounted for 90% of total GMV. “More than […]
China’s Central Bank Governor Warns Of ‘Minsky Moment’ Risk
The world is coming to the end of probably the greatest financial bubble ever seen. Since the financial crisis began in 2008, central banks in China, the USA, Europe, the UK and Japan have created over $30tn of debt. China has created more than half of this debt as the chart shows, and its total debt […]
GBP/USD Daily Analysis – Monday, November 13
GBP/USD continued its sideways movement in a trading range between 1.3027 and 1.3337. Near term support is at 1.3027, a breakdown below this level could signal resumption of the downtrend from 1.3657, then the following downside movement could take price to next support level at 1.2774. Near term resistance is at 1.3229, a break of this […]
Emerging Markets: Week Ahead Preview – Monday, Nov. 13
(from my colleague Dr. Win Thin) EM FX closed the week on a soft note. For the week as a whole, best performers were MYR, PLN, and COP, while the worst were BRL, ZAR, and INR. US inflation and retail sales data will likely set the tone for EM. Also, the US fiscal debate is […]
Sensex Opens Flat; Coal India Plunges 3.3% On Weak Q2 Result
Asian stock markets are higher in morning trade as shares in China and Hong Kong shares show gains. The Hang Seng is up 0.23% while the Shanghai Composite is trading up by 0.3%. The Nikkei 225 is down 0.62%. Over the weekend, US markets closed lower. Meanwhile, Indian share markets opened the day on a flat note. BSE Sensex is trading lower by 14 […]
EUR/USD: 4 Reasons Why The USD Is Not Stronger? What’s Next? – BofAML
EUR-USD is trading around 1.1640, sticking to the well known ranges and not going anywhere fast. However, there may be room to the downside. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research discusses the USD outlook, outlining some key reasons on why the greenback is not trading at stronger […]
Weekly Gold Forecast – Monday, Nov. 13
Gold snapped a three-week losing streak as a softer dollar and falling stocks prompted investors to seek safer assets. The precious metal benefited from a drop in the U.S. dollar index, hitting a near three-week high on Thursday, but gave up a portion of its gain on Friday. The market’s failure to break through the […]
US Dollar Finds Haven Bid, Politics Sink Pound And NZ Dollar
The US Dollar returned to the offensive in Asia Pacific trade, rising alongside 10-year Treasury bonds while most regional stock exchanges slumped. The MSCI Asia Pacific equities benchmark shed 0.4 percent in a move that seemed to echo Friday’s drop on Wall Street. That move reportedly reflecting ebbing confidence in US lawmakers’ ability to deliver on corporate […]
