NEW DELHI: Gold prices eased on Monday, after hitting monthly highs in the last session. Hot inflation numbers in the US, which lifted the bond yields, dented the market appeal of safe-haven bullion. Benchmark US 10-year Treasury yields also rose, weighing on demand for zero-yield gold. Gold is seen as a safe-haven asset in times
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Dollar rises broadly as the week starts as risk aversion extended into Asia session. But Yen is not benefiting much this time, as recovery lost momentum. Commodity currencies are also weak together with Euro. Swiss Franc and Sterling are just slightly better the others, but still weak against the greenback. The meetings of four major
As decentralized finance continues its victorious march — although the road is sometimes bumpy — some significant questions on its nature remain. How can DeFi applications be protected from becoming nonoperational under extreme stress? Is it really decentralized if some individuals have way more governance tokens than others? Does the anonymous culture compromise its transparency?
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As investors expect an aggressive US Fed, USD/CHF rallies 0.80% post US hot inflation. Elevated US Treasury yields lifted the greenback and weighed on stocks. USD/CHF Price Forecast: The pair is upward biased and would aim towards parity if buyers achieve a daily close above 0.9885. The USD/CHF rallies sharply following a US inflation report
USDCAD moves back into the old ‘red box’ The USDCAD had lower lows for 10 consecutive days that took the pair to a cycle low at 1.25166 on Wednesday. Yesterday the BOC warned about the housing market which got the ball rolling back to the downside for the loonie (to the upside for the USDCAD).
A statement over the weekend from Libya’s Minister of Oil and Gas: Libya is currently losing more than 1,100,000 barrels per day (bpd) of oil production most of the oil fields are closed, except for the Hamada field and the Mellitah complex, while the Al-Wafa field continues operations from time to time. “ … it
Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Indian refiners have been snapping up cheap Russian oil, shunned by western companies and countries since sanctions were imposed against Moscow for its
Financial Japanese authorities met regarding a weaker JPY and accorded to act if the yen continues weakening. Despite falling on threats of an FX intervention by Japan, the GBP/JPY gained 1.30% weekly. GBP/JPY Price Analysis: To continue falling towards 164.25 before resuming to the upside. The GBP/JPY plunged on Friday and trimmed weekly gains of
NZDUSD moves toward lower channel trendline The NZDUSD rallied in the Asian session, and moved back up toward a topside trend line. Recall from yesterday, the price did move briefly above that trend line but quickly reversed to the downside. That move to the downside extended to a swing area between 0.63749 and 0.63792 toward
Beijing has reintroduced a few minor restrictions (all off-campus and “offline” sports activities for teens would be cancelled starting Sunday). Earlier a spokesperson for the city’s government said a recent outbreak “The recent outbreak … is strongly explosive in nature and widespread in scope“. Which does not sound too good at all. Even Chinese Communist
Oil bulls are starting to picture a world in which China, the engine of demand growth, comes back to the market. And if their analysis is right, the summer is going to be painful for oil consumers everywhere who’re already facing spiraling prices — whether that’s Americans paying about $5 a gallon gasoline, or Brits
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On Friday, the USD/JPY climbs 0.11%, and in the week, 2.80%. Risk-aversion initially weighed on the USD, but late in the North American session, higher US Treasury yields lifted the USD/JPY. USD/JPY Price Analysis: The USD/JPY might retrace as intervention looms, towards 131.00s. The USD/JPY is registering gains close to 2.80% during the week, and
USDJPY takes a nap The USDJPY moved down and up yesterday, and it is moving down and up today. The low price yesterday stalled ahead of the 38.2% retracement of the last trend leg higher (from June 6). That retracement level is also near the swing high from Tuesday’s trade and a swing low from
MON: UK GDP Estimate (Apr). TUE: UK Jobs Data (Apr/May); Swedish CPI (May); German ZEW Survey (Jun); US PPI (May); OPEC MOMR. WED: FOMC Announcement; BCB Announcement; Chinese Industrial Production and Retail Sales (May), French CPI (May), US Retail Sales (May), New Zealand GDP (Q1); IEA OMR. THU: BoE Announcement; SNB Announcement; Australian Labour Market