Eamonn Sheridan

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Commodities
gold
Commodities

Gold’s explosive rally may reflect a monetary regime shift, not a classic bubble

  • If the rally reflects structural forces — central-bank diversification, fiscal deterioration, geopolitics, and the declining hedging power of bonds — gold’s upside may be far from exhausted. A shift in private investor allocations remains the key missing catalyst. Persistent correlations between bonds and equities strengthen the case for gold as the only reliable diversifier.
Stock market update
US INDIA FLAG
Stock market update

India stocks to rise ahead of RBI call as rupee slide challenges rate-cut bets

  • The weaker rupee reduces scope for near-term easing and may anchor bond yields, while equities could react sharply to RBI guidance on inflation risks and capital flows. A surprise cut may trigger a short-lived risk rally; a hold with cautious language could strengthen INR and weigh on rate-sensitive stocks.
Central Banks
boj Bank of Japan 23 July 2025 2
Central Banks

Recap: Japan household spending drops sharply, adding pressure ahead of BOJ rate decision

  • The sharp miss underscores fragile consumer demand and may temper expectations for sustained BOJ tightening. While a December hike remains the base case, markets may pare back longer-term rate forecasts, supporting JGBs and weighing slightly on yen optimism.
Central Banks
cny cnh yuan 13 August 2025 2
Central Banks

PBOC sets USD/ CNY reference rate for today at 7.0749 (vs. estimate at 7.0751)

  • PBOC CNY reference rate setting for the trading session ahead.
Central Banks
usdinr rbi rate cut 05 December 2025 2
Central Banks

INR traders heads up: Reserve Bank India rate cut expected today at 0430 GMT/2330 Eastern

  • The RBI’s tolerance for a weaker rupee signals reduced intervention risk and greater FX flexibility, but rising outflows and oil-driven import costs keep depreciation pressures alive. Equity inflows may stay cautious until external balances stabilise or clarity emerges on India-US trade and index-inclusion prospects. Softer US yields could provide limited relief.
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