In the aftermath of US CPI release, the forex markets are staying in a state of consolidation, with mixed reactions. Initially, there was an attempt to sell Dollar following the data, but this momentum quickly dissipated as the data largely aligned with market expectations. Headline CPI showed a gradual decline, albeit at a slow pace,
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices edged higher on Tuesday after hitting a three-week low in the last session, as the dollar eased, while investors awaited key U.S. inflation data and major central bank policy meetings for interest rate clues. FUNDAMENTALS * Spot gold was up 0.2% at $1,985.49 per ounce as of 0113 GMT, after hitting its lowest
Chinese Yuan’s significant selloff in Asian session today had a ripple effect across several major currencies, dragging down Japanese Yen, Australian Dollar, and New Zealand Dollar. This movement was largely spurred by concerning data from China indicating deepening deflation, which also negatively impacted Hong Kong’s stock market. Yuan’s future trajectory now hinges critically on a
Prior was 4.701% Bid to cover 2.42 vs 2.67 prior The 1.7 bps tail is a surprise and should help to underpin the US dollar, though it’s tough to make a move ahead of more supply. This will make the market jittery ahead of the 10-year reopening in 90 minutes. Yields across the curve have
Oil prices were steady on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year. Brent crude futures dipped 6 cents to $75.78 a barrel by 1427 GMT. U.S. West Texas Intermediate crude futures were down 7 cents at $71.16. Both contracts jumped more than 2% on Friday
Yen’s near-term pullback has notably accelerated today. Some reports surfaced suggesting that the BoJ is not poised to abandon its negative rate policy anytime soon, with the earliest potential shift expected no sooner than April meeting. This stance isn’t fundamentally new, as BoJ has consistently indicated that it requires time to assess Spring’s wage negotiations
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold steadied on Monday after a sharp decline in the previous session, as investors looked forward to several major central bank meetings and U.S. inflation data release this week for further direction. FUNDAMENTALS * Spot gold was up 0.1% at $2,005.85 per ounce as of 0038 GMT, after dropping about 3.3% last week in its
Released over the weekend, China’s economic data revealed a concerning trend as CPI plunged further into negative territory in November, marking the country’s deepest deflationary period in three years. CPI fell to -0.5% yoy, a notable decline from -0.2% yoy in the previous month and falling short of the expected -0.2% yoy. This deflationary reading
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
In a transformative shift in investment patterns, digital gold is rapidly gaining prominence in India, marking a departure from traditional approaches to gold ownership. At a nascent stage, digital gold currently constitutes 3% of the country’s total annual consumption, but its trajectory suggests a promising future. This surge is particularly pronounced among millennials who are
weekly oil WTI Sentiment in oil might finally be so washed out that it’s safe to wade in. The US announced another 3 million barrels of purchases to refill the SPR today and that’s a modest positive catalyst as the White House is able to refill it at prices below what they paid. I’d argue
Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts. Brent crude futures were up $1.46, or 2%, at $75.51 a barrel at
Markets: Gold down $26 to $2002 WTI crude up $1.82 to $71.16 US 10-year yields up 10.6 bps to 4.23% S&P 500 up 0.5% to a 52-week high CAD leads, NZD lags It’s often said that even if you knew the results of the non-farm payrolls report ahead of time, it would be tough to
The week ending December 8 was a tumultuous one for gold as the metal, on seemingly dovish Fedspeak, reached a fresh all-time high of $2,135 in the Asian session, before it closed lower the same day to consolidate for the rest of the week until Friday. It slid further lower to close with a weekly
The global financial markets last week were primarily influenced by three pivotal themes: Yen’s dramatic rise, Dollar’s strength following robust US employment data, and repercussions of Moody’s downgrading China’s rating outlook. The most striking was the Yen’s significant surge, driven by intensified speculation about an impending exit from negative interest rates by BoJ. The anticipation
The US jobs report was stronger than expectations. That sent yields higher, but when the Michigan consumer sentiment also showed strength but with sharply lower inflation expectations, stocks rebounded. Although prices traded up and down and today, they are closing higher and in the process the: S&P index traded to a new 52-week high and