A glance at overnight markets

28 December, 2015

Key Quotes:

"After rallying last week, oil prices are off 2%, base and precious metals lower. No end to the political uncertainty in Spain, but Spanish 10-year bonds are matching regional performance. 

Equities have a heavier bias. Asian shares were mixed. 

The Nikkei rose 0.6% while the Shanghai Composite fell 2.6%. Reports suggest that the anticipation of the end of the sales ban on large investors and a new IPO regime, weighed on Chinese sentiment. This is the biggest decline in a month for Chinese shares. Weak industrial profits, especially among state-owned enterprises (-9.5%) also took a toll. 

"The US dollar is mixed. European currencies are a little firmer while the dollar-bloc is softer. 

Last week, the dollar eased against the Chinese yuan every day on a closing basis, but bounced back smartly today after the PBOC fixed it higher. The close (CNY6.4873) represents a new four-year high. "


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GBP/JPY plummets to fresh 6-month lows

Persistent Brexit-related uncertainties continue to weigh on the British Pound. Upbeat UK wage growth figures did little to lend support...

Gold sticks to modest gains around $1425

Persistent global trade worries continue to benefit the commodity's safe-haven status. A fresh leg of a downfall in the US bond yields...

USD longs extended by leveraged funds

According to the CFTC's positioning data for the week ending 11 June 2019, leveraged funds turned net USD buyers after four weeks of selling...


EUR/GBP recedes from recent highs

EUR/GBP keeps the positive note so far in the mid-0.8800s. After printing tops near 0.8870 on Friday, the cross recedes some ground. Uncertainty...

Gold eases from near 2-week tops

The global flight to safety continues to fuel the ongoing positive move. A goodish pickup in the US bond yields now seemed to cap further gains...

Gold stuck in tight range above $1290

Upbeat sentiment weighs on the precious metal. US Dollar Index retreats to 97 area. Coming up: ADP private sector employment and non-manufacturing...


GBP/USD drops sharply to 1.3080

Increased odds of no-deal Brexit, USD rebound knocks-off GBP/USD. All eyes remain on Brexit headlines, US macro data and EU Summit...

Gold rebounds from 200-hour SMA

The precious metal stalled its overnight sharp retracement slide from 1-1/2 week tops and managed to find decent support/regain positive traction...

Dollar retreats farther from year tops

Fed rate hike uncertainty kept the USD bulls on the defensive at the start of a new trading week. Global growth concerns underpin safe-haven demand...

  


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