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The USD/CAD pair has traded indecisively on Wednesday and is one of the worst G10 performers despite higher oil prices.A hot US ADP report and mixed Canadian housing data was ignored, with markets focused on the Fed’s December meeting minutes.USD/CAD has traded hesitantly within a relatively thin 1.2700-1.2750 range, roughly …
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January, 2022
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5 January 2022 5:32 pm
FOMC Minutes Preview
The US Federal Reserve will release the minutes of its December policy meeting on Wednesday, January 5, at 1900 GMT and investors will look for clues into the rate future. Investors will finally get to know the likely timing of the Fed’s first rate hike with the release of last …
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5 January 2022 5:03 pm
China’s Evergrande Sales Drop 39% in 2021
The total sales of Evergrande, the Chinese real estate developer, declined in 2021 by 39% to 443 billion yuan, or 69 billion dollars, from 723 billion yuan in 2020. It is reported that the company’s shares were suspended from trading on the Hong Kong Stock Exchange on January 3, as …
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5 January 2022 4:07 pm
China Cuts Fuel Export Quota to 13 Million Tons
China cut the quota of its fuel exports by more than half, in the first announcement of quotas in 2022, as part of the Asian country’s strategy to reduce its foreign sales. China has allocated 13 million tons of the fuel for export, according to a source familiar with the …
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5 January 2022 1:53 pm
European Shares Stabilize After a Record High
European shares lost steam on Wednesday after kicking off the new year with record highs as rising US bond yields and regulatory concerns in China worried investors. The pan-European STOXX 600 index rose 0.03 percent by 0816 GMT, with shares in the auto, chemical, and oil and gas sectors gaining …
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5 January 2022 1:08 pm
Oil Settled as Traders Assess The Effects of Omicron
Oil prices stabilized on Wednesday as investors weighed the impact of a massive spike in omicron cases from the coronavirus, but the upside remained limited after rising US fuel stocks. Brent crude, the global benchmark, was down four cents at $80.04 a barrel. US West Texas Intermediate crude futures rose …
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5 January 2022 12:35 pm
Japan’s Nikkei Closes Higher, With Shares of Sony and Toyota Rising
Japan’s Nikkei index closed slightly higher on Wednesday, as gains in blue-chip stocks such as Sony Group and Toyota Motor outweighed declines in technology heavyweights on fears of a faster-than-expected US interest rate hike. On Wednesday, the Nikkei index closed up 0.1 percent to 2,9332.16 points after falling more than …
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5 January 2022 3:36 am
Market Drivers – US Session – 4 January
Major currencies and other assets are still maneuvering to find their way amidst uncertainties imposed by the worldwide pandemic. The US dollar kept advancing on Tuesday, posting the most advance against the Japanese yen. USD/JPY pair jumped to 116.34, its highest since January 2017, as the dollar surged alongside US …
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5 January 2022 2:51 am
Ahead FOMC Minutes, T-Yield Curve Steepens
A sign of optimism prevails across financial markets that virus infections surge will not lead to big economic hindrance. After a wave of selloff, long-term treasury yields are nearing breaching 2021 highs. The bond market has wasted little time pushing Treasury yields sharply higher in the early days of 2022, …
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5 January 2022 12:55 am
Major Currencies Maneuvering To Find Their Way
The US dollar kept advancing on Tuesday, posting the most advance against the Japanese yen. USD/JPY pair jumped to 116.34, its highest since January 2017, as the dollar surged alongside US bond yields. Demand for the US dollar retreated with Wall Street’s opening, as the dollar was ending the day …
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5 January 2022 12:13 am
Tesla Stock Closer To Fresh Record On Earnings
Tesla stock traded above $1,200 a share early Tuesday, putting it close to its all-time high of $1,243.49. As the stock rises, it soared by double digits on Monday, expect more debate about how to value shares of the EV leader.Wall Street, for its part, appears to believe the stock …
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4 January 2022 11:24 pm
OPEC+ Latest Decision Reflects Easing Surplus Concerns
The latest decision by OPEC+ Tuesday to stick to its planned increase in oil output for February largely reflects easing concern of a big surplus in the first quarter of 2022, as well as a wish to provide consistent guidance to the market.The producer group, which comprises of the Organization …
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4 January 2022 10:20 pm
Wall Street Surges, But Tempered By Dipping Tech Stocks
Stocks edged higher in morning trading on Wall Street Tuesday as traders gear up for economic reports and company earnings to resume after the year-end holidays.The S&P 500 rose 0.3% as of 10:20 a.m. Eastern. The Dow Jones Industrial Average rose 299 points, or 0.8%, to 36,883 and the tech-heavy …
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