US Dollar Forecast: DXY Runs Higher Even as US Yields Lag – Setups for DXY Index, USD/JPY
The US Dollar (via the DXY Index) has traded to a new yearly high, even though US Treasury yields remain, by-and-large, rangebound.
Chinas Government Bonds are in Sweet Spot after Sell off
Chinese government bonds are in a sweet spot after last years selloff and now offer higher yields and much lower volatility compared to U.S. Treasurys, a portfolio manager said. The yield on Chinas 10year government bond climbed nearly 1 percentage point last year to a high of around 3.4 in November as the country was […]
Deutsche Bank CEO Gives up Oversight of Investment Bank in Revamp
Deutsche Bank CEO Christian Sewing will hand over oversight of the investment bank to board member Fabrizio Campelli, the German bank said on Monday, as part of an overhaul of the management board. The move is likely to reassure regulators, who worried that Sewing had too much on his plate, potentially leaving the investment bank […]
Oil Price Rises as Suez Canal Developments Offset by Russias Crude Output Curbs
Crudeoil futures traded higher Monday morning as reports ahead of a key meeting of oil producers overshadowed the partial freeing of the worlds largest container vessel, which had blocked the Suez Canal for about a week, producing massive logjams in global trade and straining energy assets. News that Russia would support a rollover to May […]
Bank of England Acts to Limit Fallout from Banking Glitches
Banks and other financial firms in Britain must set out by March 2022 how quickly critical parts of their business could recover from IT glitches and other disruptions and how to minimise the impact, the Bank of England said on Monday. The BoEs Prudential Regulation Authority PRA, in conjunction with the Financial Conduct Authority, set […]
Gold Prices Retreat to Start HolidayShortened Week
Gold futures on Monday were trading lower, under pressure despite a decline in U.S. stocks and as the the dollar remained firm to start a holidayshortened week. A stronger U.S. dollar index recently remains a negative element for the metals markets, wrote Jim Wyckoff, senior analyst at Kitco.com. Gold for April delivery was off 10.30, or […]
Japanese Shares Rise on Economic Recovery Hopes
TOKYO, March 29 Reuters Japanese shares rose on Monday, lifted by optimism around corporate earnings and U.S. economic recovery, while Nomura Holdings fell the most in a decade after it flagged a potential 2 billion loss. The Nikkei share average advanced 0.81 to 29,412.24 by 0144 GMT, while the broader Topix rose 0.49 to 1,993.93. […]
UK Cazoo Agrees to Go Public on NYSE Through Ochbacked SPAC
Reuters British online car seller Cazoo Holdings Limited said on Monday it has agreed to go public in New York through a merger with AJAX I Acquisition Corp, a blankcheck acquisition company led by billionaire U.S. investor Dan Och. The deal with AJAX I, a special purpose acquisition company SPAC listed on the New York […]
RollsRoyce Looks to the Future with Start of UltraFan Build
RollsRoyce said it had started building its new greener UltraFan engine and aims to have the first demonstrator model completed by the end of the year, in what it hopes will be a boost to both it and the environment. The British company has been hit harder than most by the pandemic, with much of […]
Oil Prices Hit by Wave of Hedge Fund ProfitTaking Kemp
Fund managers sold petroleum last week at the fastest rate since successful coronavirus vaccines were announced in November, as a resurgence of infections and a loss of upward price momentum triggered profittaking. Hedge funds and other money managers sold the equivalent of 88 million barrels of petroleum futures and options in the week to March […]