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Caution prevails in Asia - MarketPulse


Caution prevails in Asia
February 18, 2021SharePrint
Although China has returned from its week-long break today, there are little signs that mainland markets want to play catch-up with the equity action seen elsewhere over the past week. Indeed, after spiking higher on the open, both the Shanghai Composite and the CSI 300, having risen 2.0% in early trading, are now nearly 1.0% lower, dragged down by the index’s Shenzhen components, which is enduring a torrid day.
Inflation nerves seem to be lingering around financial markets despite the FOMC minutes overnight, reassuring hinting at lower for longer, with no change in tack in sight. That may have arrested the rise in US longer-term yields, which traded sideways overnight, but wasn’t enough to push them materially lower. Any good work from the FOMC minutes was offset by higher US PPI numbers and US Retail Sales, which blew expectations out of the water by rising 5.30% in January. ....

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Oil flat, gold under pressure - MarketPulse


Oil flat, gold under pressure
January 19, 2021SharePrint
Oil barely changed in Asia
Oil prices barely moved overnight with trading curtailed by the US public holiday. Like other asset classes, oil has received a gentle US stimulus tailwind in Asia, with both Brent and WTI futures moving modestly higher. Brent crude has risen 0.55% to USD55.00 a barrel, and WTI has risen 0.40% to USD52.25 a barrel.
Further dollar strength could extend oil’s correction lower the USD53.00 a barrel level being a critical pivot level for Brent crude. WTI’s support is nearer, at USD51.50 a barrel although only a loss of USD49.30 calls the overall rally into concern. Longs could continue to be trimmed into the Biden inauguration and the expected flurry of executive orders shortly after. ....

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Canadian dollar dips on mixed data - MarketPulse


Canadian dollar dips on mixed data
January 18, 2021SharePrint
The Canadian dollar is down slightly in the Monday session. Currently, USD/CAD is trading at 1.2759, up 0.22% on the day.
Short squeeze boosts US dollar
The week ended on a high note for the US dollar, which recorded broad gains. USD/CAD is in positive territory again on Monday, and the pair touched a high of 1.2799 earlier in the day, good enough for a 1-week high. The US dollar has regained its form in the New Year after a dreadful 2020. The slide of the dollar has resulted in so many short positions that the dollar’s rebound has triggered a short dollar squeeze, which has given the dollar some momentum, as we saw on Friday. ....

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Quiet start to the week - MarketPulse

Quiet start to the week - MarketPulse
marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.

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