Blogs

<p>Fitch downgraded Italy’s credit rating to BBB- yesterday, down from BBB, with a stable outlook. The rating is now just a single notch above “junk level”. The agency said “the downgrade reflects the significant impact of the global Covid-19 pandemic on Italy’s economy and the sovereign’s fiscal position&#

<p>Australian Dollar remains the strongest one for the week as stronger than expected CPI data prompted another round of buying in Asia. Other commodity currencies are also firm, but the Japanese Yen is not too far away. Dollar, on the other hand, is the worst performing one for the week so far. The greenback will […]

<p>Asian markets have surged this morning, dragged higher by jumps in S&P e-mini futures and a strong rally by WTI this morning. Sentiment has been further buoyed by better than expected earnings from Alphabet Inc. overnight, as well as the MSCI Asia Pacific Index crossing the 20% threshold and entering an official bull market. The [&hel

<p>Market movers today On paper today’s highlight will be the Fed meeting . After an abundance of policy measures announced since March, we expect today’s meeting to be relatively quiet with no major policy announcements even if we cannot rule out another ‘technical adjustment’ of the interest on excess reserves (IOER)

<p>For the 24 hours to 23:00 GMT, the EUR marginally declined against the USD and closed at 1.0826. In the US, goods trade deficit widened to $64.2 billion in March, compared to a deficit of $59.9 billion in the previous month. Additionally, the Richmond Fed manufacturing index plunged to -53.0 in April, more than market […]

<p>For the 24 hours to 23:00 GMT, the GBP declined 4.61% against the USD and closed at 1.2427. On the macro front, Britain’s CBI distributive trade survey’s retail sales balance dropped to -55.0% in April, registering biggest its fall since December 2008 and compared to -3.0% in the prior month. Additionally, the BRC shop price [&

<p>For the 24 hours to 23:00 GMT, the USD rose 1.10% against the CHF and closed at 0.9744. In the Asian session, at GMT0300, the pair is trading at 0.9728, with the USD trading 0.16% lower against the CHF from yesterday’s close. The pair is expected to find support at 0.9699, and a fall through […]

<p>For the 24 hours to 23:00 GMT, the USD rose 7.33% against the CAD and closed at 1.3998. In the Asian session, at GMT0300, the pair is trading at 1.3947, with the USD trading 0.36% lower against the CAD from yesterday’s close. The pair is expected to find support at 1.3898, and a fall through […]

<p>For the 24 hours to 23:00 GMT, the AUD declined 5.91% against the USD and closed at 0.6496. LME Copper prices rose 0.1% or $4.0/MT to $5,169.5/MT. Aluminium prices declined 0.5% or $7.5/MT to $1465.0/MT. In the Asian session, at GMT0300, the pair is trading at 0.6527, with the AUD trading 0.48% higher against the […]

<p>For the 24 hours to 23:00 GMT, Gold rose 0.05% against the USD and closed at USD1722.20 per ounce. In the Asian session, at GMT0300, the pair is trading at 1724.30, with gold trading 0.12% higher against the USD from yesterday’s close, amid weakness in the US dollar. The pair is expected to find support […]