The forex markets have entered a quieter phase in Asian session, likely influenced by the holiday season, leading to reduced market activity. This calm follows an overnight sell-off of Dollar, driven by renewed risk-on sentiment as seen in the stock markets. Despite this shift, the Dollar has not experienced further selling pressure in Asia. Market
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prices fell by more than $1 a barrel on Thursday after Angola announced it is leaving the Organization of the Petroleum Exporting Countries (OPEC). Brent crude futures were down $1.30, or 1.63%, to $78.40 a barrel by 1419 GMT, while U.S. West Texas Intermediate crude was lower by $1.19, or 1.60%, at $73.03. Angola’s oil
As US session gets underway, Dollar is declining broadly, influenced by a series of lackluster economic reports. US GDP growth for Q3 was revised downward to annualized rate of 4.9% in the final estimate. Additionally, Philadelphia Fed business outlook survey for December showed a drop from -5.9 to -10.5, signaling deeper contraction in regional manufacturing
USD/JPY vs US Treasury 10-year yields (%) daily chart The post-BOJ bounce sure did not last long as the pair fails to push above the 145.00 mark before the latest retreat. The drop now sees the pair fall to 142.90 and closes in on the 200-day moving average (blue line) at 142.70. A drop below
Gold witnessed a minor uptick in the early trade on Thursday amid slippages in the dollar index (DXY). Investors await for more economic data in the US to gauge which way the Federal Reserve could move. On Friday, the world’s largest economy will release the November core personal consumption expenditure (PCE) index report, the Fed’s
Yen rebounds broadly in today’s Asian trading session, buoyed by optimistic revisions in Japan’s economic growth forecasts. The government, in its semi-annual economic report, upgraded its growth projections for both the current and next fiscal years. Forecast for fiscal 2023 was raised from 1.3% to 1.6%, while projection for fiscal 2024 saw an increase from
Prior was 4.780% Bid to cover 2.55 vs 2.36 prior, recent average 2.68 The 20-year has the fattest yields on the curve but it wasn’t enough as we get a 1.5 bps tail. I get the sense the market sniffed this out in the past few hours as yields moved up in a concession. US
Gold price jumped Rs 300 to Rs 63,100 per 10 grams in the national capital on Wednesday amid strong cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 62,800 per 10 grams in the previous trade. Silver also rallied Rs 800 to Rs 78,500 per kilogram. In its previous
Sterling faced a broad decline today following release of UK CPI data, which indicated that inflation slowed more significantly than anticipated. This unexpected deceleration in inflation has led markets and economists to quickly adjust their expectations for BoE rate cut. The markets are now fully pricing the first 25bps reduction as early as May, with
It remains hard to say. The memo below shows that they met to discuss the Bitcoin ETF listing under the Nasdaq Rule 5711(d). The rule pertains more to regulatory guidelines, specifically the “surveillance and compliance measures to ensure market integrity and protection against fraudulent activities”. (h/t @ CoinDesk) For some context, the group already met
Gold’s range-bound trade continued on Wednesday as investors waited for more economic data in the US to gauge which way the Federal Reserve could move. On Friday, the world’s largest economy will release the November core personal consumption expenditure (PCE) index report, the Fed’s preferred measure of underlying inflation. Taking cues from the price of
Robust risk-on sentiment was seen in the US markets overnight, with DOW extending its record-breaking run. S&P 500 is also approaching its historical peak, now just 50 points shy, and appears poised to challenge this high. The bullish momentum is underpinned by messages from Fed officials, suggesting that while an immediate rate cut is not
Major European indices are closing higher on the day. The things are led by the German DAX and Spain’s Ibex. German DAX, +0.56% France CAC +0.08% UK FTSE 100, +0.31% Spain’s Ibex +0.52% Italy’s FTSE MIB +0.41% As European traders look for the exit, US indices are on pace for gains as well. The NASDAQ
“We are relatively bullish on gold, and we believe gold will continue to give an impressive return next year. Comex gold can rally to $2,100/$2,180 levels per ounce in 2024 and is expected to trade in a broader range of $1,925 to $2,180 in 2024, Anuj Gupta, Head Commodity & Currency, HDFC Securities said. The
Canadian Dollar jumps against US Dollar in early US session. The move is primarily attributed to Canada’s CPI data, which came in stronger than anticipated, signaling persistent inflationary pressures. Despite this uptick, CAD is not leading the pack, as it faces stiff competition from others, including the buoyant Sterling. Pound’s significant rise can be traced
Here’s a snapshot of 10-year yields and 30-year yields for Japanese government bonds (JGBs): The former is the more crucial one and is down roughly 3 bps to 0.641% currently. That’s a far cry from the sudden spike up to 0.80% earlier this month when traders took BOJ governor Ueda’s remarks out of context for
Gold traded in a tight range on Tuesday as investors waited for more economic data in the US to gauge which way the Federal Reserve could move. While a few Fed officials have pushed back against surging market expectations of rate cuts, markets are still pricing in about a 69% chance of a Fed rate