Ongoing ETF outflows increasingly becoming burden on gold price

Jun 02, 2015 09:31 am UTC| Commentary

Gold experienced a rollercoaster ride yesterday. Prices were initially kept in check by a firm US dollar, though this changed all of a sudden in the afternoon when new US inflation data suggested that the US Federal...

Oil prices rise significantly after al-Naimi comments

Jun 02, 2015 09:22 am UTC| Commentary

Oil prices are making noticeable gains this morning. Brent has risen to almost $66 per barrel, while WTI has climbed to over $61 per barrel. As such, both prices have exceeded the highs they achieved on Friday. A weaker US...

Euro area inflation round up

Jun 02, 2015 07:51 am UTC| Commentary

Following upside surprises in Spain and Italy (last week), German preliminary consumer prices also came in on the strong side. German HICP inflation stood at +0.7% y/y in May (consensus: +0.6%) from 0.3% y/y...

Short-term supportive events for BRL

Jun 02, 2015 07:36 am UTC| Commentary

The Brazilian real outperformed all major regional currencies yesterday as it posted a gain of 0.32% vs. the USD to USD-BRL 3.1684. The real is responding in a positive way to several developments in local markets of which...

Turkish export indicator for May plummets

Jun 02, 2015 07:26 am UTC| Commentary

Turkish Exporters Assembly has released early indication for export performance in May based on its own sample. The association reported that exports declined by a sharper 19% y/y in May vs. 9.8% in April, excluding gold...

RUB more weakness on stop of FX repos

Jun 02, 2015 07:14 am UTC| Commentary

The CBR announced that it stopped its 12-month FX repo auctions as of yesterday, 1 June. This move was to be expected, following the start of daily FX buying auctions by the CBR from 13 May, in order to reduce the...

AUD benefits from hesitant RBA

Jun 02, 2015 07:05 am UTC| Commentary

As expected, the RBA left its key rate unchanged at 2%. AUD-USD nonetheless rose as a result of the decision as following weak investment data outside the mining sector, there had been speculation the RBA might cut rates...