Employee at Steel Plant China
Iron ore and steel futures in China fell again on Wednesday as authorities raised trading costs to deter speculative investors believed to be behind last week's big spike in prices and volumes, which had raised fears of a destabilising crash. The Dalian Commodity Exchange increased the transaction fees on steelmaking...
Brexit Fears
Another leading international economic body joined calls for Britain to stay in the European Union on Wednesday when the head of the Organisation for Economic Co-operation and Development said a so-called Brexit would hit the workers' pockets. Leaving the EU would cost the average working Briton the equivalent of a...
US DOLLAR
A potent dose of anxiety from the steep decline in oil prices sent global stocks tumbling during trading on Monday with most major markets flung into red territory ahead of the heavily anticipated central bank meetings. Although European markets unexpectedly snapped their losing streak in Tuesday’s session, the short-term gains...
US DOLLAR
The interest rate markets are exerting a downward pull on EURUSD, which for the moment it’s doing its best to resist. US interest rate at the short end have been rising of late (2Y up 13bp past two weeks), but the dollar has been reticent to react in a...
British Pound US Dollar
Despite an encouraging rally over the past week or so, the Cable looks relatively set to be taking a plunge back to the recent low at 1.4049. Specifically, the formation of a Gartley pattern, as the pair reaches the upside constraint of its sideways channel, could be indicative of...
British Pound US Dollar
The yen hit a three-week low on Monday on expectations the Bank of Japan could start lending to banks at negative rates, while sterling hit a five-week high in reaction to President Barack Obama urging Britons to stay in the European Union. The yen fell to as low as 111.90...
US DOLLAR
The USD tends to appreciate strongly when risk aversion is high or when the US economy is outperforming. Neither condition is currently in place. China’s growth concerns have temporarily receded and commodity prices are rallying. And with a cautious Fed and accmmodative central banks elsewhere, market conditions have turned...
Mario Draghi
It was the exception, rather than the rule, that the volatility in the euro yesterday was more down to market positioning that the changing messages through Draghi’s press conference. There were residual expectations for further easing measures, so the initial rally was more to do with covering of short positions....
Japanese Yen
Asian shares slid from a 5 1/2-month high on Friday on disappointing earnings from U.S. blue chip companies, but Japanese shares surged after a media report about a possible Bank of Japan policy change weakened the yen. Japan's Nikkei erased earlier losses to end the day up 1.2 percent, reaching...
Crude Oil
Crude prices rose on Thursday, reversing earlier declines, as the International Energy Agency (IEA) said that 2016 would see the biggest fall in non-OPEC production in a generation, helping rebalance a market that has been dogged by oversupply. The IEA's chief Fatih Birol said on Thursday that low oil prices...