Dollar is facing renewed selling in early US session as data reveals a further slowdown in upstream inflation via PPI. All eyes are now on the much-anticipated FOMC rate decision where a ‘hold’ is broadly expected. However, the possibility of an upside surprise in both inflation projections and the dot plot remains, suggesting that we
Month: June 2023
Share: USD/INR has held within a narrow 2.5% range, between 81-83, since the start of the year. Economists at Commerzbank analyze the pair’s outlook. Strong economic monentum Reserve Bank of India is content to see a relatively stable USD/INR. India’s strong economic performance, lower oil and commodity prices, and RBI’s rate hikes are supportive factors
Crude oil is higher in the day but below 38.2% retracement The price of crude oil did rally sharply today with the price settling at $69.42 up $2.30 or 3.43%.The high price extended to $69.83. The low was at $67.15. Looking at the hourly chart above, the run to the upside today stalled just short
Prior -0.4% Wholesale price index -2.6% y/y Prior -0.5% This marks a continued fall in wholesale prices in Germany, with the annual estimate now the softest since July 2020. A lot of this still has to do with energy prices in general, so there is that to consider when trying to read into the latest
Gold prices gained in the early trade on Wednesday on the back of a weaker dollar index (DXY). Although traders maintained their cautious approach ahead of the Federal Open Market Committee (FOMC) outcome, scheduled later in the day. MCX August Gold futures were trading at Rs 59,301 per 10 grams in the opening trade, up
The financial markets remain firmly entrenched in a risk-on stance as signs increasingly point towards Fed “skipping” tightening at today’s rate decision. As a result, Yen, Swiss Franc, and Dollar are this week’s worst performers, exhibiting no clear indications of a resilient bounce. On the other end of the spectrum, Australian and New Zealand Dollar
The U.K. Treasury building. Matthew Lloyd | Bloomberg | Getty Images LONDON — U.K. borrowing costs, as measured by the yield on short-dated government bonds, rose above levels last seen following Britain’s market-destabilizing “mini-budget” after labor market data showed rising wage growth on Tuesday. The yield on two-year gilts hit 4.754% at 10:13 a.m. London
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Bitcoin (BTC) has been trading in a narrow 3.4% range for the past three days after successfully defending the $25,500 support on June 10. In this time, investors’ attention has shifted to the macroeconomic area as the U.S. Federal Reserve will announce its interest rate decision on June 14. Cryptocurrencies might work independently from the
Share: USD/MXN falls over 0.30% as US headline inflation drops, encouraging Fed’s likely pause in June. Despite the US Dollar drop, Treasury bond yields rise; 10-year note at 3.827%. Bank of Mexico Governors emphasize the need for maintaining higher rates. USD/MXN tumbles to fresh seven-year lows, achieved during the last six trading days, courtesy of
USDCHF sloppy trading has settled between swing areas. The USDCHF is lower on the day retracing most of the gains seen yesterday when the CHF was the weakest of the major currencies (higher USDCHF). The move higher yesterday stalled near the swing highs from Thursday and Friday of last week (see chart above). The high
EUR/CAD daily Goldman Sachs recently shared its perspective on the euro, suggesting that its upside potential is limited due to similarities in macroeconomic conditions in the eurozone and other regions. The firm believes that the divergence in market pricing between these areas should reduce over time. Interestingly, the recent data seems to slightly diverge –
Gold prices edged up Rs 30 to Rs 60,680 per 10 grams in the national capital on Tuesday amid positive global cues in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,650 per 10 grams. Silver also climbed Rs 70 to Rs 74,120 per kg. “Gold
Dollar falls significantly in early US session, reacting to reports that both headline and core CPI decelerated in May. This development boosts confidence to Fed policymakers to skip tightening at tomorrow’s decision. Meanwhile, Canadian Dollar and Yen are following as the next weakest for now. Contrarily, Sterling is witnessing a surge, rebounding from its initial
The inflation rate cooled in May to its lowest annual rate in about two years, the Labor Department reported Tuesday. The consumer price index, which measures changes in a multitude of goods and services, increased just 0.1% for the month, bringing the annual level down to 4%. That 12-month increase was the smallest since March
Share: FX option expiries for June 13 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.0600 1.4b 1.0675 510m 1.0700 598m 1.0735 602m 1.0750 1.2b 1.0775 660m 1.08 1.3b – GBP/USD: GBP amounts 1.2500 400m 1.2775 431m – USD/JPY: USD amounts 137.50 451m 139.50-60 659m 141.00 361m –
WTI crude oil futures are settling at $67.12. That is down $3.05 or -4.35%.The price low today reached $66.80. The high was at $70.33. Looking at the 4-hour chart below, the low price today extended below the low from May 31 at $67.03. That was the lowest level since May 4 when the price plunged
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