Fundamental view: Gold started the week with a positive node but later suffered heavy losses after it broke below the lower limit of its two-week-old range at $1,720. The upsurge in yields helped the greenback to gather strength and pushed the yellow metal down while rising global equity indexes gave a helping hand to gold by [...]
According to Bloqport’s recent data, bitcoin, which has ended the month of March with an overall gain of 29%, has now been in the uptrend for six consecutive months. The data also shows that the crypto asset’s value has nearly doubled from its December 2020 closing price of $29,383 to its current value of $58,647. [...]
China's Negative surplus puts pressure on the Aussie. Also contributing to the Aussie's weakness could be the US dollar’s rebound. China’s Caixin Manufacturing PMI came in as 50.6 versus 51.3 forecasts and 50.9 prior. This gives a suggestion that the activity figures from Australia’s largest customer contrast the upbeat official readings published earlier in the [...]
Final readings of New Zealand’s ANZ Business Confidence and Activity Outlook slipped below the initial forecasts and prior read-outs in the latest announcement showing -4.0 and 16.6% figures respectively. The key points of the readings were "All forward-looking activity indicators were lower in the second half of the month. The preliminary results would not have [...]
