TAG APAC Market Corner

Gold stuck in ” no man’s land”

Gold’s stuck in no man’s land with ordnance flying overhead. Prices hugged close to the $1,200 an ounce level that’s been the norm since late August as investors await another rate rise from the Federal Reserve and signals about the outlook, including an assessment of risks from the trade war. Gold’s stuck in no man’s…

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OANDA Trading Asia market wrap

Activity picked up considerably mid-morning after a sluggish start. Currencies Despite the FED rate hike fully baked in,  currency traders have gone through their there ceremonial jockeying for position ahead of this critical announcement given the markets outsized focus on tonight’s FOMCs. While volumes have been higher than average, most G-10 currencies have been confined to…

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Decision Day : The FOMC looms

US markets Major U.S. indexes closed mostly lower Tuesday ahead of the Federal Reserve Board rate decision, as airlines, transportation and shipping companies are feeling the squeeze from higher oil prices. But higher energy prices are stoking the inflationary fires, and that pass-through effect is pushing  US bond yields higher, which tends to lessen investors…

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Could OPEC even deliver near term barrels ??

Commodities Crude prices continued to climb early on on the expected impact of U.S. sanctions on Iranian oil exports and suggestions from OPEC and other producers that they aren’t in a rush to increase production to offset the hit to supply. Brent crude was up nearly 1 per cent in the predawn hours. Earlier, Brent…

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$100 per barrel oil ??

Crude oil prices are set to continue rising after Brent crude vaulted over $US80 a barrel this week – and forecasters are not ruling out the price hitting $US100 a barrel. “It would be easy to imagine that oil could rise to $US100,” said HSBC chief economist Paul Bloxham. “We have a forecast that sees…

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Gold is trading sideways ahead of FOMC

Gold held steady on Tuesday as the dollar stood firm ahead of the two-day U.S. Federal Reserve meeting beginning later in the day while simmering U.S.-China trade tensions kept investors nervous about risks to global growth. U.S. gold futures were down 0.1 per cent at $1,203.10 an ounce. “Gold is glued to the $1,200 see-saw…

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Headline overload

US Markets Another case of headline overload overnight. US markets closed lower overnight due to some factors including, trade war phase 2, more political turmoil ahead of US midterm after reports surface ahead Attorney General Rod Rosenstein was resigning from his post and of course equity investors taking bets off the table ahead of any…

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The Ringgit remains insulated

Meanwhile, Oanda Corp head of trading for Asia Pacific Stephen Innes said while local trade deficit currencies have been in speculators’ cross-hairs, the ringgit has been relatively insulated on strong terms or trade due to oil exports. “Brent trading at almost US$80 (RM331.24) per barrel is music to the local government’s ears. “I think when…

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Asia EM FX under pressure as US -China talks shelved

Sept 24 (Reuters) – Asian currencies were weaker across the board on Monday as investors faced the prospect of an escalation in the Sino-U.S. trade conflict after China cancelled upcoming talks even as the latest round of tariffs take effect. China cancelled mid-level trade talks with the United States, the Wall Street Journal reported. With…

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