.PNG)
Quotes from Standard Chartered:-Fundamentals are weak, but high-cost producers are under pressure, limiting the downside. -ILZSG estimates that the global market was in 97kt oversupply in Q1; it tightened, nevertheless, with demand up 2% y/y, while supply was little changed.
Quotes from Standard Chartered:-Prices should remain range-bound to reflect the support from marginal costs and the downside pressure from very soft demand. -Bearish: Taigang in China has cut stainless steel prices for a third month for June deliveries.
Quotes from Standard Chartered:-Investors have aggressively reduced their holdings since February, which is driving down prices. Producers will probably cut, so we see risks skewed to the upside. -Technical signals still look bearish.
Quotes from Standard Chartered:-We see downside risks for the short term, but remain long-term bulls.-The market looks set to retrace further in the short term. Support turned resistance is around USD 1,600/oz. Next support should be seen around USD 1,520-1530/oz.
Deputy Econ Min Grilli said that it is unlikely that paying outstanding debt to companies impact public debt Quotes "There's no impact from these certification decrees along with the liquidity from banks and balancing tax credits and debts but we're still working on finding other resources.
Quotes from HSBC Global Research:-We remain constructive on the TRY. The tight monetary policy of the central bank ensures a very attractive carry for long TRY position, particularly in environment of low volatility.
Quotes from HSBC Global Research:-We now expect TWD to appreciate more forcefully and see value in selling USD-TWD in the three-month tenor. Although the global environment still looks uncertain, we do think the CBC would be more forceful in limiting the TWD weakness.
Quotes from HSBC Global Research:-The positive global market sentiment and the rise in oil prices have fuelled the upward movement of the RUB. -We now believe that this appreciation is overdone, barring further large gains in oil prices.
Japan finance ministry official said that Fitch downgrade action should be taken as message on need for fiscal rebuilding The official added that recent Yen rise has speculative factors and that authorities would act if necessaryThe material has been provided by Instaforex Company - instaforex.
Quotes from HSBC Global Research:-Regulations on FX purchases in Argentina continue to be tightened, with private sector individual FX purchases now limited to 25% of monthly registered wages, from 40% previously -Meanwhile exporters now have just 15 days to convert export receipts with so...
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