Tarebhtoday News

Tag: Banks

  • Hong Kong’s Central Financial institution Might Ease Capital Guidelines on Banks Holding Crypto: Report

    Hong Kong’s Central Financial institution Might Ease Capital Guidelines on Banks Holding Crypto: Report

    The Hong Kong Financial Authority (HKMA) has circulated plans for alleviating the capital necessities for banks holding cryptocurrencies, native monetary information outlet Caixin reported on Wednesday.

    The central financial institution launched a draft paper for public remark with a view to clarifying the steering on capital regulation for crypto property, which might be carried out early subsequent yr.

    The drafted pointers deal with reducing financial institution capital necessities if issuers can take acceptable measures to stop and reply to dangers, in keeping with the report.

    Hong Kong has emerged as one of many world’s hubs for advancing the cryptocurrency business by means of a extra useful regulatory regime. Its long-awaited steering on stablecoins got here into impact final month following a rush of functions from potential issuers.

    A change to extra lenient capital necessities for banks holding crypto might assist cement Hong Kong’s standing additional as a world chief for crypto adoption.

    The HKMA didn’t reply to CoinDesk’s request for remark.

  • GBP holds a strong achieve on the week – Scotiabank

    GBP holds a strong achieve on the week – Scotiabank

    With no native developments or knowledge of observe to drive markets, the GBP’s rebound immediately displays the nonetheless comfortable undertone of the USD and a restoration from yesterday’s PPI-driven volatility, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.

    Sterling is firmer on the session

    “The Pound Sterling (GBP) is lagging a few of its G10 friends considerably this morning however has had a strong week total, rising towards the USD and EUR, as markets rethink the outlook for UK financial coverage after final week’s BoE choice.”

    “Sterling is firmer on the session however yesterday’s peak and minor reversal from the 1.3595 space warrants consideration because the pound topped out at an analogous level in late July. Cable has put collectively a strong run of positive factors since basing in early August however spot must push on by means of to a 1.36 deal with to increase positive factors. Assist is 1.3520.”

  • USD/JPY: Any advance could also be restricted to a check of 148.20 – UOB Group

    USD/JPY: Any advance could also be restricted to a check of 148.20 – UOB Group

    US Greenback (USD) may rebound additional; overbought circumstances recommend any advance could also be restricted to a check of 148.20. Within the longer run, USD has doubtless moved again right into a range-trading section between 146.50 and 148.80, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.

    USD has doubtless moved into a spread between 146.50 and 148.80

    24-HOUR VIEW: “Yesterday, we held the view that USD ‘may drop beneath 146.60,’ however we identified that ‘any additional decline is unlikely to achieve 145.80.’ Our view that USD may decline additional was right, because it dropped to a low of 146.19. Nonetheless, the sharp rebound from the low was shocking — USD soared to a excessive of 147.95 within the NY session. At the moment, USD may rebound additional, however given the overbought circumstances, any advance could also be restricted to a check of 148.20. Assist is at 147.40, adopted by 147.00.”

    1-3 WEEKS VIEW: “Though we turned adverse on USD yesterday (14 Aug, spot at 147.00), we acknowledged that ‘it’s unsure for now whether or not USD has sufficient momentum to achieve the numerous assist stage at 145.80.’ We additionally acknowledged that we ‘will keep our adverse view so long as 147.95 (‘sturdy resistance’ stage) is undamaged.’ USD subsequently dropped to a low of 146.19 after which snapped again as much as a excessive of 147.95. Though our ‘sturdy resistance’ stage has not been clearly breached, downward momentum has eased. To place it otherwise, USD has doubtless moved again right into a range-trading section, most likely between 146.50 and 148.80.”

  • Gold value falls after unexpectedly robust US producer value knowledge – Commerzbank

    Gold value falls after unexpectedly robust US producer value knowledge – Commerzbank

    The Gold value got here below strain yesterday following the publication of US producer costs. These rose considerably greater than anticipated in July, which is more likely to be attributable to the impression of tariffs. The patron value knowledge printed two days earlier had not but proven any noticeable improve in value strain, Commerzbank’s commodity analyst Carsten Fritsch notes.

    Putin and Trump assembly can affect demand for Gold as a protected haven

    “The newest hypothesis a couple of 50 foundation level rate of interest reduce by the Fed at its subsequent assembly in September was dampened by yesterday’s knowledge. In line with Fed Fund Futures, barely lower than 25 foundation factors are at present priced in once more. The Gold value subsequently fell by round $30 to $3,330 per troy ounce. The silver value additionally got here below strain because of this, slipping beneath the $38 per troy ounce mark. Nevertheless, the worth had risen considerably beforehand, reaching $38.7 yesterday morning, its highest degree because the finish of July.”

    “In the meantime, the Gold market continues to be ready for official affirmation from the US authorities that Gold imports into the US will stay tariff-free. Thus far, there has solely been a put up from President Trump on his social media platform. Though it’s extremely unlikely that Trump will make a U-turn, a sure diploma of uncertainty stays. This explains the persevering with premium of round USD 50 on Comex Gold futures over the worldwide Gold value.”

    “At the moment, the Gold market can be eagerly awaiting the summit assembly between US President Trump and Russian President Putin this night. The end result of the summit may affect demand for Gold as a protected haven. This might subsequently lead to value fluctuations when buying and selling opens on Monday.”

  • USD/CNH is anticipated to commerce in a sideways vary of seven.1750/7.1880 – UOB Group

    USD/CNH is anticipated to commerce in a sideways vary of seven.1750/7.1880 – UOB Group

    Momentum indicators are turning flat; US Greenback (USD) is anticipated to commerce in a sideways vary of seven.1750/7.1880. Within the longer run, downward momentum is constructing; for a continued decline, USD should first shut beneath 7.1700, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.

    Downward momentum is constructing

    24-HOUR VIEW: “When USD was at 7.1800 within the early Asian commerce yesterday, we indicated that ‘there’s a likelihood for USD to check 7.1700, however based mostly on the present momentum, a transparent break beneath this stage is unlikely.’ Though USD fell greater than anticipated to 7.1690, it rebounded to shut largely unchanged at 7.1810 (-0.02%). Momentum indicators are turning flat, and we count on USD to commerce in a sideways vary of seven.1750/7.1880 immediately.”

    1-3 WEEKS VIEW: “We’ve anticipated USD to commerce in a spread since early this month. Yesterday (14 Aug, spot at 7.1800), we famous that ‘downward momentum is constructing.’ Nevertheless, we identified that “for a continued decline, USD should first shut beneath 7.1700.” USD subsequently dipped to a low of seven.1690 earlier than rebounding to shut at 7.1810 (-0.02%). There was no additional enhance in downward momentum, however we are going to preserve our view so long as 7.1950 (no change in ‘sturdy resistance’ stage) isn’t breached.”

  • OPEC predicts tight Oil market – Commerzbank

    OPEC predicts tight Oil market – Commerzbank

    In its month-to-month report, OPEC has barely raised its forecast for Oil demand subsequent 12 months, Commerzbank’s commodity analyst Carsten Fritsch notes.

    OPEC’s demand forecast may be very optimistic

    “On the identical time, provide outdoors OPEC+ is predicted to rise much less strongly than beforehand anticipated. Consequently, demand for Oil from OPEC+ will enhance, which factors to a tighter Oil market. Towards this backdrop, OPEC+ would have scope to additional enhance manufacturing subsequent 12 months.”

    “Nevertheless, OPEC’s demand forecast may be very optimistic, with anticipated will increase of 1.3 million and 1.4 million barrels per day this 12 months and subsequent. OPEC additionally revealed figures on OPEC+ Oil manufacturing in July. In accordance with these figures, manufacturing by nations certain by quotas was 187,000 barrels per day beneath the agreed stage.”

    “Kazakhstan continued to supply considerably extra, whereas Iraq and Russia produced lower than allowed on account of compensatory cuts. Saudi Arabia’s Oil manufacturing was considerably larger in June and considerably decrease in July. Nevertheless, the deviations largely offset one another.”

  • US EIA expects an oversupply, decrease oil costs, and falling US oil manufacturing – Commerzbank

    US EIA expects an oversupply, decrease oil costs, and falling US oil manufacturing – Commerzbank

    The US Power Data Administration (EIA), in distinction, has considerably revised its estimate of the provision surplus on the oil market upwards and now expects inventories to construct by greater than 2 million barrels per day within the fourth quarter of 2025 and the primary quarter of 2026.

    The EIA expects a decline of 130,000 barrels per day

    “That is 800,000 barrels per day greater than it has beforehand forecast. For that reason, the value of Brent crude oil is predicted to fall to a median of $58 per barrel within the fourth quarter and to a median of $50 per barrel initially of 2026. The decrease oil value degree implies that US crude oil manufacturing is more likely to decline considerably subsequent 12 months.”

    “The EIA expects a decline of 130,000 barrels per day on common for the 12 months and 400,000 barrels per day in comparison with the top of this 12 months. The document degree is now anticipated to be reached in December 2025 at 13.57 million barrels per day. Thereafter, manufacturing volumes are set to say no steadily.”

  • The IEA forecasts counsel a large oversupply subsequent yr – Commerzbank

    The IEA forecasts counsel a large oversupply subsequent yr – Commerzbank

    The Worldwide Vitality Company has left its forecast for Oil demand just about unchanged and continues to count on will increase of just below 700,000 barrels per day for this yr and subsequent. Oil provide outdoors OPEC+ is anticipated to rise by 1 million barrels per day subsequent yr, following a rise of 1.4 million barrels per day this yr, which exceeds the rise in demand, in accordance with the IEA forecast, Commerzbank’s commodity analyst Carsten Fritsch notes.

    Oil provide outdoors OPEC+ will to proceed to rise

    “The demand for Oil from OPEC+ is thus anticipated to fall to 40.4 million barrels per day subsequent yr. In contrast with the IEA’s expectation for OPEC+ Oil manufacturing, this might end in a surplus of three million barrels per day. A surplus of this magnitude would put vital downward strain on Oil costs, inflicting them to fall to a stage that will make the rise in Oil manufacturing outdoors OPEC+ anticipated by the IEA unlikely.”

    “The IEA’s assumption relating to present and future Oil provide is, nonetheless, far more optimistic than that of different market observers. In line with the IEA’s month-to-month report, Oil manufacturing by OPEC+ international locations sure by quotas was an excellent 1.1 million barrels per day above the agreed stage in July. The OPEC and S&P International Commodity Insights, in contrast, reported manufacturing volumes for July that had been under the agreed stage.”

    “The IEA’s expectation that Oil provide outdoors OPEC+ will proceed to rise into subsequent yr is at odds with the US Vitality Info Administration, which forecasts a noticeable decline in US crude Oil manufacturing subsequent yr. All of this factors to a significantly smaller oversupply than the IEA’s forecasts counsel.”

  • Chile revises Copper manufacturing forecast downward – Commerzbank

    Chile revises Copper manufacturing forecast downward – Commerzbank

    Chile’s state-owned Copper producer estimates manufacturing losses at its El Teniente mine as a result of tunnel collapse and the ensuing manufacturing stoppage lasting a number of days at 20-30 thousand tons, Commerzbank’s commodity analyst Carsten Fritsch notes.

    World demand for refined Copper is predicted to rise by 2.4%

    “In consequence, Chile’s Copper manufacturing may very well be additional diminished this yr. The state Copper fee Cochilco has already revised its manufacturing forecast for this yr downward. It now expects a rise of only one.5% in comparison with final yr, to five.58 million tons. Beforehand, it had assumed a development price of three%.”

    “The downward revision was prompted by decrease manufacturing in June on the Escondida mine, the world’s largest, and on the likewise massive Collahuasi mine. For subsequent yr, it continues to anticipate a rise of three%, however from a decrease stage. Manufacturing is due to this fact anticipated to be solely 5.75 million tons, which is 220,000 tons under the earlier forecast. This might imply that Copper mine provide stays tight.”

    “On this context, Cochilco factors out that development in smelting capability, significantly in Asia, is outpacing the rise in provide and that costs are due to this fact prone to stay above their long-term averages. World demand for refined Copper is predicted to rise by 2.4% to 27 million tons subsequent yr. Of this, 15.8 million tons are anticipated to return from China.”

  • U.S. Fed Formally Scraps Specialist Group Meant to Oversee Crypto Points

    U.S. Fed Formally Scraps Specialist Group Meant to Oversee Crypto Points

    The Federal Reserve continued its rest of crypto oversight on Friday with a transfer to close down a two-year-old supervisory program supposed to maintain a particular eye on banks’ crypto ties, as an alternative folding that process again to its day-to-day oversight work.

    The central financial institution established its short-lived Novel Actions Supervision Program in the course of the tenure of Vice Chairman Michael Barr, the board’s supervision chief appointed by then-President Joe Biden, and the company is now sunsetting the hassle and can “return to monitoring banks’ novel actions by the conventional supervisory course of,” in response to a Fed assertion on Friday.

    Because the begin of President Donald Trump’s second time period, the Fed has tended to maneuver consistent with the opposite banking regulators who’ve pulled again on aggressive digital belongings scrutiny. In April, the Federal Reserve withdrew its earlier crypto steerage that directed bankers to get approvals from the federal government supervisors earlier than partaking in new crypto exercise. The opposite two U.S. federal banking regulators, the Workplace of the Comptroller of the Foreign money and the Federal Deposit Insurance coverage Corp. made matching strikes to toss out the earlier steerage, leaving banks to make their very own crypto selections beneath current risk-management expectations.

    The thought behind the novel-activity program was that the Fed wanted to assemble particular experience and put a more in-depth concentrate on dangers to the banking system which may emerge from modern and untested applied sciences. The initiative adopted intently within the aftermath of the 2023 disaster by which three U.S. lenders intently related to know-how and crypto purchasers — Silicon Valley Financial institution, Silvergate Financial institution and Signature Financial institution — failed about 5 months earlier.

    Within the two years since establishing this system, although, the Fed has “strengthened its understanding of these actions, associated dangers, and financial institution danger administration practices,” in response to Friday’s assertion, so the work will probably be directed again to the common supervisory course of.

    The crypto business and U.S. banking regulators have been by a tumultuous few years by which digital belongings companies and insiders have complained of an organized marketing campaign from authorities entities to chop them off from financial institution companies — a marketing campaign the business and its Republican lawmaker allies name Operation Chokepoint 2.0. However Trump has appointed crypto-friendly officers to redirect the banking companies, and although the Fed is protecting of its independence, it is usually joined the OCC and FDIC within the development of enjoyable crypto constraints.

    Learn Extra: Fed Joins OCC, FDIC in Withdrawing Crypto Warnings for U.S. Banks

  • EUR: Watching Alaska extra carefully – ING

    EUR: Watching Alaska extra carefully – ING

    The Trump-Putin assembly and any higher readability on the trail forward within the Ukraine battle have longer-lasting implications for the Euro (EUR) than for the US Greenback (USD), ING’s FX analyst Francesco Pesole notes.

    Markets could tread rigorously for now

    “How EUR/USD, EUR/CHF and EUR/JPY commerce on Monday morning can be an excellent gauge of how markets have digested any headlines from Alaska.”

    “The deterioration within the eurozone’s phrases of commerce has impacted the long-term euro honest worth, and a few conviction that vitality costs might come structurally decrease from right here might make markets extra comfy with the euro buying and selling at ranges inconsistent with a comparatively unattractive implied charge – e.g. above 1.20.”

    “However as mentioned above, there’s a probability that at the moment is likely to be step one within the route of de-escalation, and markets could tread rigorously for now. The repricing in Fed reduce expectations is hindering the probabilities of one other main leg greater. The subsequent US information releases will decide whether or not a return to 1.180 is possible within the close to future.”

  • EUR/USD: Oblique FX implications from Alaska summit – OCBC

    EUR/USD: Oblique FX implications from Alaska summit – OCBC

    President Trump and Putin will meet later in Alaska. Pair was final at 1.1686 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong word.

    Every day momentum is gentle bullish

    “Trump believes there’s a 75% probability of the Alaska assembly succeeding. He additionally mentioned a second assembly between Putin, Zelensky and himself could be extra decisive – however this isn’t but confirmed. Whereas negotiations is probably not easy and takes time, Europe doubtlessly collaborating in Ukraine’s reconstruction plans sooner or later, might marginally lend a lift to EUR, over the medium time period.”

    “We had beforehand mentioned {that a} Ukraine peace deal sooner or later can result in provide chain normalisation, decrease power prices, in flip decreasing present burden on corporates and households, enhancing sentiments and progress outlook. EUR fell in a single day, as USD noticed a broad rebound wing to hotter-than-expected US PPI.”

    “Every day momentum is gentle bullish whereas RSI is flat. 2-way trades possible. Assist at 1.1630 ranges (21, 50 DMAs), 1.1570 (23.6% fibo retracement of Mar low to Jul excessive) and 1.1450 (100 DMA). Resistance at 1.1730, 1.1780 ranges.”