Surging US yields cast a shadow over emerging markets
Federal Reserve Chair Jerome Powell is set to echo remarks that policy makers are fully committed to supporting the US economy
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Federal Reserve Chair Jerome Powell is set to echo remarks that policy makers are fully committed to supporting the US economy
Asian equities and US dollar dip lower February 19, 2021SharePrint Asian equities ease with Wall Street Wall Street fell again overnight, as bullish momentum temporarily ebbs, spurring investors to lighten risk. The S&P 500 lost 0.44%, the Nasdaq slipped 0.72%, and the Dow Jones eased by 0.44%. US index futures have continued a downward trajectory this morning, with all three major indices lower by around 0.35%. The US malaise has spilt over into Asian markets, which are tracking lower today. The Nikkei 225 has fallen 1.25%, with the Kospi down 0.70%. Mainland China’s Shanghai Composite is ...
Caution prevails in Asia February 18, 2021SharePrint Although China has returned from its week-long break today, there are little signs that mainland markets want to play catch-up with the equity action seen elsewhere over the past week. Indeed, after spiking higher on the open, both the Shanghai Composite and the CSI 300, having risen 2.0% in early trading, are now nearly 1.0% lower, dragged down by the index’s Shenzhen components, which is enduring a torrid day. Inflation nerves seem to be lingering around financial markets despite the FOMC minutes overnight, reassuring hinting at lower f...
Oil flat, gold under pressure January 19, 2021SharePrint Oil barely changed in Asia Oil prices barely moved overnight with trading curtailed by the US public holiday. Like other asset classes, oil has received a gentle US stimulus tailwind in Asia, with both Brent and WTI futures moving modestly higher. Brent crude has risen 0.55% to USD55.00 a barrel, and WTI has risen 0.40% to USD52.25 a barrel. Further dollar strength could extend oil’s correction lower—the USD53.00 a barrel level being a critical pivot level for Brent crude. WTI’s support is nearer, at USD51.50 a barrel although onl...
Canadian dollar dips on mixed data January 18, 2021SharePrint The Canadian dollar is down slightly in the Monday session. Currently, USD/CAD is trading at 1.2759, up 0.22% on the day. Short squeeze boosts US dollar The week ended on a high note for the US dollar, which recorded broad gains. USD/CAD is in positive territory again on Monday, and the pair touched a high of 1.2799 earlier in the day, good enough for a 1-week high. The US dollar has regained its form in the New Year after a dreadful 2020. The slide of the dollar has resulted in so many short positions that the dollar’s rebound h...