The Bank of England’s Michael Saunders says vote for a 50bp hike in February ”does not necessarily imply that I believe that the level of rates one or two years ahead will be higher than the yield curve used for the February MPR.”Saunders has pointed out that it is important …
Read More »Is Gold Price’s Recent Dip a Sign of Trouble or Opportunity?
Gold is down -0.06%, trading at $ 2,937.36 per ounce. Gold prices experienced a slight dip on Friday…
US Manufacturing Shows Resilience Amid Economic Uncertainties
Recent data reveals a mixed picture of US economic activity. The S&P Global Composite PMI for F…
GBP/USD Pulls Back After Reaching New Highs
The GBP/USD pair experienced a pullback after reaching a year-to-date high of 1.2678 and testing the…
British Pound Hits Two-Month High as UK Consumer Spending Surges
The British pound strengthened on Friday, reaching a two-month high, after strong UK consumer spendi…
Bitcoin Climbs for Third Straight Day but Faces Fed Policy Headwinds
Bitcoin extended its winning streak on Friday, rising for the third consecutive day, as some investo…
European Stocks Inch Higher as Traders Weigh Business Activity and Trade Tensions
European markets edged up on Friday, as investors assessed fresh business activity data and ongoing …
Wall Street Slips as Walmart Warning, Jobless Claims Spark Economic Fears
The Dow Jones Industrial Average plummeted over 1.40% to 43,980 on Thursday as investors grappled wi…
Market Drivers and Update; US Session: PMIs in Focus
The US dollar weakened significantly, reaching a two-month low despite no changes in US tariffs or p…
Looming Impact of Fresh EU Sanctions on Commodities Expected
The European Union’s latest round of sanctions against Russia, the sixteenth since the invasio…
Fort Knox’s US Gold Reserve to be Audited, Administration Says
The US Administration announced plans to audit the nation’s gold reserves stored at Fort Knox …
Market Analysis
March, 2022
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1 March 2022 9:52 pm
Poland’s Morawiecki: Ukraine Crisis Existential Threat To Peace In Europe
Polish Prime Minister Mateusz Morawiecki said on Tuesday that conflict in Ukraine is an existential threat to peace in Europe. Poland is ready to introduce an immediate embargo on Russian coal imports, he added, and all they need is the green light from Brussels. Morawiecki proposed that the EU should …
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1 March 2022 9:44 pm
Q4 Faster GDP Growth Ensures BoC’s Interest Rate Hike
Canadians took advantage of elevated savings and low interest rates to buy houses in 2021. The Canadian economy grew at an annual rate of 6.7 per cent in the fourth quarter, much faster than the Bank of Canada was expecting, guaranteeing an interest-rate increase when policymakers announce the results of …
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1 March 2022 9:24 pm
IEA releases 60M barrel from strategic reserves
US, IEA Agree to Release 60 Million Barrels From Oil Stockpiles Amid Ukraine’s CrisisThe US and other major oil-consuming nations said Tuesday they willl release 60 million barrels of oil from their emergency stockpiles, sending a jolt of new crude supplies into the market amid a price surge caused by …
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1 March 2022 8:10 pm
What Russia’s SWIFT Ejection Really Mean Amid War Fogs
Filtering information is one of investors’ most important tasks. It is normally a difficult task under the best conditions, but right now, amid the fog of war, filtering information is nearly impossible.Away from reports, fake images and news from Russia and Ukraine, the fog is also engulfing a lot of …
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1 March 2022 7:43 pm
AUD/USD Expected to Surge On rising Commodity Prices
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 …
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1 March 2022 7:00 pm
Canada: Markit Manufacturing PMI rises slightly in February
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 …
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1 March 2022 5:20 pm
The Saudi Cabinet Says it Supports The OPEC+ Agreement
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 …
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1 March 2022 4:40 pm
Bank of Canada Rate Decision Preview
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 …
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1 March 2022 4:06 pm
Palladium And Gold Jump on The Ukrainian Crisis
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. …
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1 March 2022 3:21 pm
Oil prices jump as supply concerns grow due to The Ukraine Conflict
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 …
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1 March 2022 2:15 pm
European Bank Shares Continue to be Volatile Affected by The Ukrainian Crisis
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 …
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1 March 2022 1:14 pm
Japan And US Finance Ministers Pledge to Incur “Maximum Costs” to Russia
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 …
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