As 10-year Treasury yields basically undoes whatever happened in October, equities are finding much comfort especially in the last two days. Tech stocks have been surging but general sentiment in itself is extremely buoyed as major indices look to wrap up the week with another round of gains. That would make it five for five
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Gold traded flat on Friday amid a steady dollar index (DXY). MCX December gold futures were trading at Rs 60,900 per 10 gram, down by Rs 11 or 0.02% from Thursday’s closing price. Meanwhile, the December silver futures were trading at Rs 71,248 per kg, lower by Rs 152 or 0.21%. On Comex, gold futures
Dollar continues to languish as one of the weakest performers of the week, sharing the lower rungs of performance with Yen and Swiss Franc. This dynamic comes in the wake of a robust rally in global stock markets and a pronounced pullback in treasury yields. Investors and policymakers alike are now poised for the release
CNN reports that the US intelligence community believes that Iran and its proxies are calibrating their response to Gaza to avoid direct conflict with the US and Israel. “This is a very fine line to walk,” Christy Abizaid, the director of the National Counterterrorism Center, told a Senate committee on Tuesday. “And in the present
Oil gained 1% on Thursday to snap a three-day decline as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold. Brent crude futures were up 91 cents, or 1.08%, at $85.54 a barrel by 1250 GMT, while U.S. West Texas Intermediate crude futures gained 83 cents, or
In the wake of BoE’s decision to maintain interest rates unchanged, Sterling exhibited a mixed performance, gaining against Dollar yet faltering when paired with the Euro and commodity-linked currencies. The voting pattern at the BoE leaned slightly more hawkish than anticipated, but the newly projected rate path suggests the peak in interest rates was reached
The dollar has been the frontrunner in the last few months and it owes much to a rout in the bond market. Soaring Treasury yields alongside a more robust economy helped to provide the necessary tailwind for the dollar to outperform its peers. But now, are we poised for a reversal and a stop to
US Federal Reserve’s dovish commentary on the course of future rate decisions dented the prospects of greenback on Thursday, aiding yellow metal prices. MCX December gold futures were trading at Rs 60,866 per 10 gram, up by Rs 81 or 0.13% from Wednesday’s closing price. Meanwhile, the December Silver futures were trading at Rs 71,826
The forex markets displayed a calm demeanor during Asian session today, with traders eagerly anticipating FOMC rate decision. After experiencing a tumultuous selloff, Yen found some semblance of stability, courtesy of verbal intervention by Japan. Nonetheless, it remains the week’s laggard, pausing momentarily with the possibility of further decline on the horizon. This weakening Yen
The US dollar is under pressure following a soft ISM manufacturing report. The main catalyst is the bond market as yields fall 7-10 bps across the curve. US 10-year yields have backed further away from 5%. US 10s The Treasury announced new auction sizes for bonds today and 10-year sizes weren’t as large as feared.
Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus. Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas
US 10-year yields is seeing a notable drop after Treasury unveiled its auction plan. In a closely monitored move, the department announced a USD 2B/month increase in 10-year bond sales. This increment was below market’s anticipated USD 3B hike. The decision appears to bolster 10-year treasury price, subsequently pressing down 10-year yield. US stock futures
The dollar is keeping steadier so far on the day, after posting a decent advance in trading yesterday owing much to a surge higher in USD/JPY. The pair itself got a helping hand from the BOJ and also purported absence of intervention by Tokyo, paving the way for a break above 151.00 to its highest
Gold prices started November lower on Wednesday as cautious investors awaited U.S. Federal Reserve’s policy decision, after the Middle-East worries led to a strong safe-haven rally last month and pushed prices above $2,000. FUNDAMENTALS * Spot gold fell 0.2% to $1,979.71 per ounce by 0125 GMT and U.S. gold futures dropped 0.3% to $1,988.70. *
The major US stock indices have now erased earlier declines. Each of the indices are now higher on the day. Dow industrial average was down -141.85 points at session lows. It is currently up 46.45 points or 0.14% at 32974.63 S&P index was down -13.71 points at session lows. It is currently up 29 points
Oil prices were steady on Tuesday as a drop in euro zone inflation was balanced by higher OPEC output. December Brent crude futures, were 21 cents, or 0.24%, higher at $87.66 a barrel by 1342 GMT ahead of their expiry later on Tuesday. The more heavily traded January contract rose 7 cents, or 0.08%，to $86.42.
Yen continued to face significant pressure in early US session, remaining as the day’s weakest performer. Hopes of substantial changes from BoJ were dashed earlier as it made only a minor adjustment to the definition of yield cap. The selling sentiment intensified following revelation that Ministry of Finance refrained from spending on interventions between September
There will definitely be a lot to say, now especially as the Japanese yen has fallen in the aftermath of their policy decision today. But I reckon Ueda will continue to maintain that they do acknowledge firmer inflation developments but they’re not at a point yet to abandon easy policy altogether. Essentially, it should be