EM LATAM CREDIT: Aris Mining: Acquisition Raises Production - Positive
Nov-20 16:17
(ARISCN; B1/B+/B+) "Aris Mining Acquires Remaining 49% of Soto Norte for ~$80m" - Bbg...
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FOREX: Gold Unwind Assists Greenback Outperformance, JPY Notably Weaker
Oct-21 16:09
- Tuesday’s session was categorised by a sharp selloff for precious metals, with the significant 6% unwind for spot gold providing a bid for the greenback against G10 peers. As such, the USD index has risen 0.3% on the session, to extend the bounce from Friday’s lows to just shy of 1%.
- The Japanese yen has been hardest hit in the G10 space, as markets focussed on Japan’s parliament confirming Sanae Takaichi as the new PM, and details emerged surrounding her new cabinet and her imminent plans to compile a new stimulus package. Furthermore, with Satsuki Katayama taking the finance minister role, expectations for a fiscal phase prioritising an Abenomics-like policy set have been reinforced.
- USDJPY rose from overnight lows of 150.47 to reach a session high of 152.17, with the recovery from last Friday’s low in USDJPY is beginning to highlight a stronger bullish signal. The pair fell from its best levels as PM Takaichi said there is "no immediate plan to revise the gov't-BoJ joint agreement on economic policy.
- Elsewhere, the Canadian dollar has outperformed following an above expectation set of inflation data. For USDCAD, the move lower narrows the gap to initial support at the 20-day EMA, which lies at 1.3972. However, it is worth highlighting that moving average studies are in a bull-mode position, highlighting a dominant uptrend.
- Initial weakness for EURCHF saw the cross trade within 4 pips of significant medium-term support at 0.9206. A break of this level would place EURCHF at the lowest level since the peg removal in 2015, and may garner attention as the inaugural SNB minutes are released this Thursday.
- In emerging markets, the dollar/gold dynamic has weighed significantly on the South African Rand, standing out among the EM FX basket. Despite the 1% USDZAR rally, spot remains shy of last Thursday’s highs, located at 17.4857, while bearish trend conditions do remain intact overall. A clear break of the 50-day EMA (at 17.44) would signal a potential reversal and open 17.8190, the Sep 4 high.
FED: US TSY TO SELL $110.000 BLN 4W BILL OCT 23, SETTLE OCT 28
Oct-21 16:05
- US TSY TO SELL $110.000 BLN 4W BILL OCT 23, SETTLE OCT 28
FED: US TSY TO SELL $95.000 BLN 8W BILL OCT 23, SETTLE OCT 28
Oct-21 16:05
- US TSY TO SELL $95.000 BLN 8W BILL OCT 23, SETTLE OCT 28
