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Facts Recommendation Short OIL at market price View The prospect of renewed U.S.-Iran negotiations roughly six weeks before the U.S. congressional midterm elections may give Tehran an opportunity to negotiate more favorable terms for a potential agreement. The United States has already committed substantial financial resources to the war in the Middle East, while American […]
Gold is rebounding by more than 1.3% after the decline triggered by the Fedโs first rate hike in more than three years. Higher interest rates are usually negative for gold, which does not generate yield, but the market had already priced in the Fed move to some extent, so the reaction has remained relatively limited. […]
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF has staged an overdone rally toward 0.8265 and now expect the pair to consolidate between 0.8225 and 0.8275 in the near term. Over the next 1โ3 weeks, momentum remains strong but may not yet be sufficient to break above 0.8300, […]
OCBC strategist Christopher Wong reports that Gold reversed lower after the FOMC as a stronger US Dollar (USD) and rising United States (US) yields weighed on sentiment, with the 2-year near 4.75% and the 10-year around 5%. He argues elevated yields and a firm Dollar may cap Gold in the near term, but says the Fed outcome […]
Today Markets Analysis Nickel traded around $16,230 per tonne, rebounding from its lowest level in eight months as the recent selloff attracted fresh buying interest. The move represents a technical recovery after the sharp decline, but the broader fundamentals remain challenging. Weak Chinese downstream demand continues to weigh on the nickel market, with nickel salt […]
UK 10-year gilt yields fell back to around 5.3% as oil prices declined for a second consecutive session, with investors also digesting yesterdayโs Federal Reserve rate hike ahead of the Bank of Englandโs closely watched policy decision. Brent crude is trading around $105 a barrel after Saudi Arabia said it plans to restore roughly half […]
Germanyโs 10-year Bund yield edged down to around 3.5% as oil prices fell for a second consecutive session, while investors digested yesterdayโs Federal Reserve rate hike. Brent crude is trading around $105 a barrel after Saudi Arabia said it plans to restore roughly half the capacity of its damaged East-West pipeline within days. The Middle […]
Today Markets Analysis Steel rebar futures held above CNY 3,120 per ton on Thursday, remaining close to two-month highs as Chinese steelmakers pledged to curb production and reduce elevated inventories amid sharply deteriorating margins. The move comes as China’s steel industry faces an increasingly difficult operating environment. The China Iron and Steel Association, together with […]
Commerzbankโs India analysis shows the Reserve Bank of India stepping up liquidity absorption via INR1trn of government bond sales and continued VRRR operations, FX swaps and open-market actions. The measures aim to align money-market rates with the 5.25% policy rate. Despite higher short- and intermediate-term yields, USD/INR stayed near 95.96 as RBI intervened to curb volatility. Bond […]
Deutsche Bank analysts highlight that the first Federal Reserve hike since 2023 and a more hawkish dot plot weighed on US equities. The S&P 500 fell to its lowest level since July, with blue-chip names and banks underperforming, although tech indices were more resilient. Overnight, S&P 500 futures reversed prior losses, pointing to a tentative improvement […]
