Money Clips

Our pragmatic assessment of global economic and financial market developments and how this affects our most pressing investment goals.

December 8, 2017

Asian stocks rose following a broad-based rally in US equities. Investor optimism picked up following news a government shutdown this week has been averted and reports indicating Ireland and Britain were close to a Brexit deal. Gold sank below the $1,260/Oz support ahead of next week’s much-anticipated US rate hike.

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December 7, 2017

Asian equities bounced back to stem their longest losing streak in more than two years as the recent rout in global stocks abated. Energy shares were the big decliners after crude slumped past $56/bbl. The Aussie and sterling both weakened, due to poorer-than-expected GDP data and Brexit worries, respectively. Gold meanwhile is threatening to break below the key support of $1,260/Oz. 

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December 4-10, 2017

The US dollar looks poised to snap a 3-day losing streak, while US 10yr Treasuries gapped higher earlier today and held above the key 2.40% level. Gold extended losses, and looks likely to test the key $1,260/Oz soon. Crude oil retreated from close to 2-year highs, slipping back below $58/bbl.

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December 4, 2017

The US dollar and Treasury yields rallied after Senate passage of tax-cut legislation drew focus away from events in the continuing investigation into connections between Donald Trump’s aides and Russia. Asian indices were mixed with gains in Hong Kong, Shanghai and Seoul contrasting losses in Singapore, Kuala Lumpur and Tokyo.

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November 27 – December 3, 2017

The US dollar pared some of its recent losses earlier this week, while US 10yr Treasuries continue to meander just above the 2.30% key support. . Gold edged higher, but remains capped at the psychological $1,300/Oz handle. Crude oil retreated from fresh 2-year highs.

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November 28, 2017

Declines in energy and mining stocks led Asian shares lower after oil and metal prices extended a drop, and Chinese equities’ losses deepened. The US dollar was steady as the US tax debate gets underway. The yen pared gains after a rally partly fuelled by report suggesting North Korea is preparing for a missile launch. Gold retreated from the $1,300/Oz handle.

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November 24, 2017

US markets were closed Thursday for the Thanksgiving holiday. Asian indices were mixed Friday morning after yesterday’s rout in the Chinese equity and bond markets. The US dollar remained weak while gold maintained gains. Crude oil futures climbed to its highest since 2015.

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November 23, 2017

The dollar held onto losses after tumbling as the latest Federal Reserve meeting minutes suggested divisions over the future path for US monetary policy. Chinese stocks declined after their recent surge that prompted government warnings about runaway prices. Singapore raised its growth forecast for this year, underscoring strength across Southeast Asian economies, with third-quarter data from the Philippines, Malaysia and Thailand exceeding forecasts as well. Gold and oil held onto gains after overnight rallies.

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20-26 November, 2017

The US dollar remains capped at the key 94 handle, while US 10yr Treasuries continue to languish below the 2.40% resistance. Gold continued to edge higher, but continues to struggle to break above $1,300/Oz. Crude oil snapped a 5-week winning streak, although there continues to be significant buying around the $55/bbl support.

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