The publication of the Panama Papers sent shock waves around the world. The reports by the International Consortium of Investigative Journalists, which CNNMoney hasn't been able to independently verify, allege that top officials around the world hid wealth through secret offshore companies...
Australia: Going with the Flow - ING James Knightley, Senior Economist at ING, notes that the Reserve Bank of Australia (RBA) left policy unchanged, but suggested they continue to have room to act should inflation soften, citing currency strength as a key issue...
AUD: Set to Remain in 0.74 to 0.78 Range for Near-Term - Westpac Research Team at Westpac, notes that the RBA acknowledged the higher currency, but put forward 'some increase in commodity prices' and 'monetary policy developments elsewhere in the world' as driving factors...
Asian Sstocks See Relief Rally on Oil Rebound The sentiment on the Asian stocks rebounded this Wednesday, after a bearish start to the week, as the oil price rebound offered some reprieve to the energy sector stocks, while a weaker yen aimed reduced demand for safe-haven also boosted the Japanese...
Former BOJ Official: Little Possibility of Intervention to Curb Strong Yen In an interview via Bloomberg on Wednesday, Tohru Sasaki, head of Japan markets research at JPMorgan and a former official at the BOJ, said that the BOJ intervention is less likely to restrict the recent yen’s appreciation...
CAD: Hot on the Commodity Bloc – Deutsche Bank Robin Winkler, Strategist at Deutsche Bank, suggests that valuation differentials across the dollar bloc are at all-time highs and the Antipodes are 15% too expensive on PPP while CAD is 5% too cheap...
China: Caixin services PMI upbeat in March Chinese data continues to improve, with today's Caixin services PMI coming at 52.2 vs 51.2 last, while China's services PMI composite was 51.3 vs prior 49.4. Commenting on the China General Services PMI™ data, Dr...
CAD to Outperform Antipodeans - Deutsche Analysts at Deutsche Bank explained that the valuation differentials across the dollar bloc are at all-time highs. Key Quotes: "The Antipodes are 15% too expensive on PPP while CAD is 5% too cheap...
The U.S. trade deficit widened more than expected in February as a rebound in exports was offset by an increase in imports, the latest indication that economic growth remained weak in the first quarter. The Commerce Department said on Tuesday the trade gap increased 2.6 percent to $47.1 billion...
EUROSTOXX50: World Stock Indices are Declining With the opening of today’s trading day global stock indices have been declining...
RBA Acknowledges Stronger AUD but Not Overly Concerned Yet - MUFG Lee Hardman, Currency Analyst at MUFG, notes that the Australian dollar has weakened modestly in the Asian trading session undermined early this week by renewed weakness in commodity prices...
US: ISM Nonmanufacturing Index to Rise Only Marginally - TDS Millan Mulraine, Deputy Head US Macro Strategy at TDS, suggests that the US economic growth momentum has slowed, and while the headwinds to the manufacturing sector appear to have abated the fallout in the service sector should continue...
The dollar edged lower on Monday on contradictory views of prospects for an increase in U.S. interest rates, while oil prices stayed under pressure on skepticism producers would be able to freeze output to stem a global glut. A usually dovish U.S...
Can WTI End Its Biggest Consecutive Daily Decline Since 2009? North American benchmark, West Texas Intermediate (WTI) is up today and trying to end its biggest consecutive daily decline since 2009...
UK Service Sector Improves, but Brexit Fears Weighs on the Outlook - ING James Knightley, Research Analyst at ING, notes that the UK’s service sector purchasing managers’ index has risen a fraction more than expected to stand at 53.7 in March versus 52.7 in February (consensus was 53.5...
For Kiwi, Focus Is on Dairy Auctions Today New Zealand Dollar, riding on weaker Dollar and recent improved sentiments towards commodities broken above a key resistance around 0.69 area. However that break has so far been short lived as Dollar has snapped back its loss broad based...
Brent Oil Stays Near One-Month Low on Falling US Demand Brent prices trade at lowest since March 4 as investors worry about fading prospects of OPEC and non-OPEC output freeze and fresh signs of falling US demand. At the time of writing, Brent oil was trading 10 cents or 0...
Oil in Global Economy Series: Saudi Arabia Bleeds Reserve Amid Lower Oil Saudi Arabia’s pains are visibly on the rise as the economy facing threats of downgrades, if it fails to check on its ballooning fiscal deficit, which is projected to be 15-16% of GDP this year...
