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Pound extends gains on Brexit noise

  Investors take Brexit comments positively The pound rallied to the highest level in nearly two weeks during the Asian session amid slightly more positive sentiment on a Brexit deal. Dow Jones reported that unnamed diplomats had said the gaps on the Ireland border issue had been narrowed, though still with differences, and were predicting […]

OANDA Trading Podcast : BFM 89.9 Kuala Lumpur

  Stephen Innes, Head of Trading in Asia-Pacific at Singapore-based OANDA, discusses the escalation in the trade dispute between China and the US, examining the economic and fiscal permutations of deteriorating global conditions, as well as the policy and non-policy weapons at China’s disposal. Innes also discusses China manufacturing data and the upcoming FOMC meeting […]

Oil pushes higher; Equities sag

Asian equity markets struggled to follow through on the positive close on Wall Street with most major indices in the red. The Nikkei225 slid 0.75%, Hang Seng 0.27% and China shares eased off 0.24%. There was a marginal bid tone to the US dollar as US 10-year yields edged closer to 3%.   Oil extends […]

South African Rand Collapse Continues as Hopes on New President Fade

The year started well for the South African rand as traders placed their hopes with the new administration. As the year ended, the regime of the corrupt leader, Jacob Zuma ended and he was replaced by his deputy, Cyril Ramaphosa. Ramaphosa was a favourite for investors. As an accomplished businessman, they believed that he would […]

U.S. Economy grew 4.1% rate in Q2

The U.S economy grew at the strongest pace in nearly four-years during Q2, supported by a rebound in consumer spending, exports and firm business investment. Q2 GDP rose at a seasonally and inflation-adjusted annual rate of +4.1% – a pickup from Q1 growth rate of +2.2%. Compared to the second quarter a year ago, output […]

USD/CAD – Canadian dollar listless in light fundamentals session

The Canadian dollar has posted small gains in the Tuesday session. Currently, USD/CAD is trading at 1.3167, down 0.04% on the day. On the release front, there are no Canadian indicators on the schedule. The U.S will release services and manufacturing PMIs and the Richmond Manufacturing Index. USD/CAD posted sharp losses on Friday, as the […]

Turkey’s central bank leaves policy rate unchanged, defying expectations

Turkey’s central bank left its policy rate unchanged on Tuesday, bucking market expectations of a hike and sending the lira down sharply in the bank’s first policy decision since President Tayyip Erdogan was re-elected with new executive powers. Concerns about Erdogan’s influence over monetary policy – and about the bank’s ability to rein in inflation […]

Trump ready to put tariffs on all Chinese imported goods

President Donald Trump has indicated that he is willing to slap tariffs on every Chinese good imported to the U.S. should the need arise. “I’m ready to go to 500,” the president told CNBC’s Joe Kernen in a “Squawk Box” interview. The reference is to the dollar amount of Chinese imports the U.S. accepted in […]

Currencies, Stocks and Bonds await Fed Powell’s Testimony

Tuesday July 17: Five things the markets are talking about Corporate earnings and monetary policy is expected to be the main driver of market sentiment this week- it’s currently giving a ‘temporary’ break to trade relation tensions amongst G7 economies. Global equities have drifted lower overnight on mixed earnings, while capital markets await the latest […]

DAX subdued on lack of fundamentals

The DAX index has ticked lower in the Tuesday session. Currently, the DAX is at 12,566, up 0.05% on the day. On the release front, there are no major German or eurozone events. In economic news, the eurozone trade surplus slipped to EUR 16.9 billion, short of the estimate of EUR 17.6 billion. This marked […]