Gold prices staged a turnaround on Friday, reversing the earlier decline and trading just above the $5,170 mark per troy ounce. The yellow metal continues to draw support from safe haven demand linked to tensions in the Middle East, although gains … [Continue reading]
China: Inflation and trade data support modest recovery – ING
ING economists Lynn Song and Min Joo Kang expect China’s February CPI inflation to pick up to 1.0% year-on-year, mainly due to Lunar New Year effects, while the impact of higher Oil prices should appear later. They also project solid growth in … [Continue reading]
United Kingdom CFTC GBP NC Net Positions fell from previous £-57.1K to £-72.7K
Gold prices staged a turnaround on Friday, reversing the earlier decline and trading just above the $5,170 mark per troy ounce. The yellow metal continues to draw support from safe haven demand linked to tensions in the Middle East, although gains … [Continue reading]
United States CFTC S&P 500 NC Net Positions up to $-168.2K from previous $-193.5K
Gold prices staged a turnaround on Friday, reversing the earlier decline and trading just above the $5,170 mark per troy ounce. The yellow metal continues to draw support from safe haven demand linked to tensions in the Middle East, although gains … [Continue reading]
Singapore: Limited growth hit from conflict – UOB
UOB Global Economics & Markets Research, through Associate Economist Jester Koh, judges that Singapore’s GDP exposure to the Middle East conflict is modest under a short-lived shock scenario. Exports to key regional economies are about 2% of … [Continue reading]
USD/CNH: Upside risks as strong fix meets USD demand – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that USD/CNH has traded higher as Iran-related geopolitical tensions support the Dollar. Beijing has been setting a stronger CNY fix, which has helped stabilise the Renminbi and partially … [Continue reading]
Curve Finance accuses PancakeSwap of copying StableSwap code
Pancakeswap (CAKE) dropped 4% on Friday as Curve Finance (CRV) publicly accused the decentralized exchange (DEX) of copying its code without permission, citing license violation.Curve Finance accuses Pancakeswap of copying codeDecentralized finance … [Continue reading]
United States Consumer Credit Change below expectations ($12B) in January: Actual ($8.05B)
Gold prices staged a turnaround on Friday, reversing the earlier decline and trading just above the $5,170 mark per troy ounce. The yellow metal continues to draw support from safe haven demand linked to tensions in the Middle East, although gains … [Continue reading]
USD/JPY poised to test 158.00 despite weak US jobs data
The USD/JPY rises and challenges the 158.00 figure on Friday up over 0.20% after the latest employment report in the US revealed weakness in the labor market. Also, the Middle East conflict deteriorates market mood, maintaining the US Dollar bid … [Continue reading]
US Nonfarm Payrolls set to show moderate job growth as traders pare Fed rate cut bets
The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for February at 13:30 GMT. Volatility around the US Dollar (USD) will likely ramp up on the employment report, with investors looking for fresh … [Continue reading]