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Oil is up around 60% for 2021 and has a current price of approximately $82/barrel (Brent). OPEC+ is due to meet today and market participants don't expect a change to the current output schedules. This despite President Biden and allies encouraging producers with spare capacity to increase production. There is general alarm around inflation and the current call of "transitory" is debated. As such, a cap on oil prices will…
The US Federal Reserve announced on Wednesday the tapering of its Quantitative Easing program (QE) by $15 billion/month, to begin later in November. However, this was largely dovish, as the bank did not commit to the tapering pace beyond December and did not link the unwinding its asset purchases with future rate hikes, delivering overall the minimum of what was expected. The US Dollar dropped on the news, sending the…
The US Federal Reserve maintained rates at 0-0.25% on Wednesday and announced a $15 billion/month reduction in asset purchases, to begin within this month - $10 billion will be Treasury securities and $5 billion will be mortgage backed securities
Investors keenly await today’s monetary policy decision from the US Federal Reserve, but on Thursday, focus will shift to its UK peer, the Bank of England (BoE), for a potentially consequential meeting
Here on our weekly update, we keep you updated on the most essential topics from last week in the Crypto world Cathie Wood still believes in Robinhood ARK Invest, the company led by Cathie Wood, invested heavily in Robinhood, despite its poor financial results for Q3 2021. Wood's business bought 2,240,680 shares, valued at as much as $79.4 million. According to data disclosed by ARK Invest the purchase is spread…
Past performance is not an indicator of future results The above shows FXCM's USDOLLAR basket on a weekly chart. Given the expectations of a tapering announcement from the FOMC statement today, the analysis here is important. Last week's candle is a potential swing low reference candle (aqua arrow). To be considered as such, this week's candle will need to close above the reference candle's high (aqua horizontal line). The FOMC…
Unemployment in New Zealand dropped to 3.4% during the third quarter, compared to 4% in Q2, making easier for the country’s central bank (RBNZ) to continue down its tightening path
Markets appear to be cautious ahead of the Fed’s potentially consequential monetary policy decision later in the day, as the Eurodollar consolidates following Tuesday’s slide
The Reserve Bank of Australia kept the official cash rate (OCR) at 0.1% today and will continue to purchase government securities at the rate of $4 billion a week until at least mid February 2022. However, it decided to discontinue the target for the yield on the April 2024 bond, after the recent 3Y Yields surge. The Board reiterated that it will not increase the cash rate until actual inflation…
Companies looking to go public have more than one way to achieve their goal, including through Special Purpose Acquisition Companies (SPACs), a method that has come to prominence in recent years.
The BoC left interest rates unchanged at 0.25% and QE at C$3 billion/week, with more action potentially expected at the next meeting
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