Market Update

Climbing commodity prices are a good catalyst to provide support to the Australian dollar. Subsequently, economists at Rabobank expect the AUD to break with its status of a high-risk currency and forecast the AUD/USD at 0.74 by year-end.AUD/USD to break with its traditional role of ‘higher risk’ G10 currency. Commodity …

Canadian Manufacturing PMI rose slightly to 56.6 in February, indicating continued robust growth in the manufacturing sector. That marked a slight gain from January’s 56.2 reading and was a little above expectations for 56.4.Markit Manufacturing PMI, released by Markit Economics, is based on data compiled from monthly replies to questionnaires …

A statement by the Saudi Cabinet on Tuesday renewed the kingdom’s support for the OPEC + agreement, which provides for an increase in the supply of crude exporters from the Organization and allied producers by 400,000 barrels per day each month. And the official Saudi Press Agency quoted a statement …

This Wednesday at 1500 GMT, the BOC is expected to raise its benchmark interest rate to 0.50% from 0.25% (an all-time low) for the first time since October 2018. There is no press conference following the March meeting. At its January meeting, the central bank left the key rate unchanged …

Palladium jumped on Tuesday on concerns that Western sanctions against Russia over its invasion of Ukraine could damage supplies, as the conflict also sent safe-haven gold prices higher. By 1043 GMT, palladium rose 3.6 percent to $2,577.38. It had reached its highest level since July 2021 at $2,711.18 last week. …

Oil prices rose on Tuesday as concerns about potential supply disruptions after the Russian invasion of Ukraine and associated sanctions overshadowed talk of a coordinated global drawdown of crude stocks to calm markets. Brent crude futures rose $3.04, or 3.1 percent, to $101.01. The benchmark touched a seven-year high of …

Shares in some European banks regained some of their gains on Tuesday after falling this week due to their links to dealings with Russia, but the sector remained volatile as the fighting in Ukraine continued. Shares of Austrian bank Raiffeisen rose 2.7 percent in early trading, partly offsetting a 14 …

Japanese Finance Minister Shunichi Suzuki said on Tuesday that Japan and the United States had pledged to work together to make Russia “pay a heavy price” for its invasion of Ukraine. In comments he made shortly after his online conversations with US Treasury Secretary Janet Yellen, Suzuki said the two …

Japanese stocks rose on Tuesday, as continued optimism about cease-fire talks between Russia and Ukraine boosted sentiment, prompting investors to buy into retreating shares. The Nikkei index rose 1.2 percent to 26,844.72 points after it crossed the 27,000 level for the first time since February 18. The broader Topix index …

Japanese carmaker Mitsubishi Motors said on Tuesday it may stop producing and selling its cars in Russia, as economic sanctions against Russia could cause supply chain disruptions. Japan on Tuesday joined the United States and other allies in imposing additional sanctions on Russia, which included freezing the assets of the …