Japanese Yen registered notable slump today, recording a new low for the year against Dollar, a move driven largely by ascending benchmark yields in the US and European markets. Meanwhile, sentiment in risk markets appears to be on the upswing, partly propelled by encouraging economic data emerging from China, fostering an environment where commodity currencies
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MCX Gold traded in the green in the opening trade on Friday despite weakness in the international prices. The domestic yellow metal prices were up, aided by the uptick in greenback which made dollar-priced commodities expensive. The MCX October gold futures were trading up by Rs 106 or 0.18% from the Thursday closing price at
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
Australian Dollar rises broadly today, as lifted by stronger than expected headline employment data. But the details are less impressive, as the vast majority of job growth were part-time, while hours worked decline. That’s nonetheless welcome news for RBA, as the job markets while starting to cool, appeared to have absorb prior rate hikes well.
Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories. Saudi Arabia and Russia’s extension of oil output cuts will result in a market deficit through
AI image Canadian Prime Minister Justin Trudeau is watching his popularity plummet. The country is two years away from an election unless his coalition partners in the NDP want to pull the plug but waiting isn’t likely to do him any good. The nation has completely soured on his plans to add 1 million immigrants
In a twist of events today, Euro takes a considerable hit following ECB’s dovish rate hike which communicated a possibly peak in the tightening cycle. The downgrading of core CPI and GDP growth forecasts for the coming years – 2024 and 2025 – further aggravates the descent. This bearish sentiment spills over to Sterling and
Gold traded in the red on Thursday after US retail inflation accelerated, though lower than what was anticipated raising odds for another rate hike. While the jury is still out on whether the Fed will do it in its upcoming monetary policy meeting next week. However the losses were capped on account of slippages in
The report is via Reuters, citing two sources with knowledge of the matter. It is said that the PBOC has asked some of the big banks to refrain from immediately squaring their market positions and to let it run open in order to alleviate further downside pressure on the Chinese yuan. Adding that the banks
In Asian trading session today, the forex markets remained steady with no significant movements outside of yesterday’s range among major pairs and crosses. Sterling stood slightly firmer, holding much anticipation for the forthcoming UK employment data, notably the insights on wage growth which can potentially delineate its next significant move. In contrast, Euro presented a
Gold plunged Rs 350 to Rs 59,650 per 10 grams in the national capital on Wednesday amid weak cues in global markets, according to HDFC Securities. The yellow metal had ended at Rs 60,000 per 10 grams in previous trade. “Gold declined on Wednesday, with spot gold prices (24 carats) in the Delhi markets trading
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
Dollar attempts to rally in early US session after modestly stronger than expected US consumer inflation data. But there is no clear follow through buying. Headline CPI’s bounce back to a 14-month high was slightly above expectations. Meanwhile, core CPI’s monthly reading also beat market forecasts. Yet, it appears that traders are not convinced that
Gold traded in the red on Wednesday despite weakness in the dollar index (DXY) which hovered around 104.67 against a basket of top six currencies as the Street remained cautious ahead of the US Federal Reserve’s Federal Open Market Committee Meeting (FOMC) which begins on September 19, to take cues of the road ahead. The
When asked about Russia helping to build satellites for North Korea, Putin says that “that is why we’ve come to the Vostochny Cosmodrome”. Adding that “we will discuss all issues and topics” and that “Kim is showing a big interest in Russian rocket equipment”. Coming into their meeting, it has been speculated that Kim would
Euro experienced a bounce amidst whispers that ECB forthcoming inflation projections might support an imminent rate hike on Thursday. Nevertheless, this uptick was moderate, as the revelations originated from an anonymous source. Simultaneously, investors worldwide are gearing up for pivotal US CPI data and UK GDP figures set to drop later today, both of which
NEW YORK, Sept 12 – Oil prices jumped about 2% to a near 10-month high on Tuesday on a tighter supply outlook and OPEC optimism over the resilience of energy demand in major economies. Brent futures rose $1.64, or 1.8%, to $92.28 a barrel by 11:15 a.m. EDT (1515 GMT). U.S. West Texas Intermediate (WTI)
US consumers are looking for some relief in prices US consumers have held up better than expected Here were recent comments from Bank of America president of regional banking Dean Athanasia along the same lines. He was asked about the consumer: Yes, consumer spend right now, I mean, we — our economists have pushed things