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Gold traded rangebound on Monday though the bias remained negative on account of a positive dollar index (DXY) which has stayed above the 102 mark against a basket of six top currencies. The October gold futures were trading with declines at Rs 59,516 per 10 grams on the MCX in the opening trade, down Rs

Eurostoxx -0.3% Germany DAX -0.4% France CAC 40 -0.2% UK FTSE -0.2% Spain IBEX -0.2% The opening losses today isn’t too bad and is in part a catch up to the losses seen on Friday in US equities after the European close. The intensifying mood in Russia and Ukraine is also perhaps a consideration for

As we are now in the traditional summer quiet period, market activities appear largely subdued, a pattern expected to persist into first half of the week. US Dollar is attempting to gain momentum to revive its recent rally, but it’s still kept way off last week’s peak against other major currencies. Definitive direction for the

Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 30 cents, or 0.4%, to $85.44 a barrel by 0042 GMT, while U.S. West

UPCOMING EVENTS: Monday: Canada Holiday, Swiss Unemployment Rate, BoJ’s Summary of Opinions. Tuesday: NFIB Small Business Optimism Index. Wednesday: China CPI. Thursday: US CPI, US Jobless Claims. Friday: Japan Holiday, UK GDP, US PPI, University of Michigan Consumer Sentiment. Monday: The BoJ’s Summary of Opinions will be scrutinised by market participants for details and clues

COMEX Gold prices are on track for their most significant weekly decline in six weeks, driven by a sell-off in the longer end of the US treasuries and positive US economic data. This situation is potentially putting pressure on the Federal Reserve to maintain its rate hike trajectory. The yield on 10-year US treasuries has

Bank of America (BofA) outlines three primary reasons why dips in the USDJPY exchange rate are likely to be both shallow and short-lived. Despite the Bank of Japan’s (BoJ) recent adjustments to its Yield Curve Control (YCC), BofA maintains its expectation for USDJPY to rise to 147 by September. Key Points: Unlikely Capital Repatriation: BofA

Highlights of the week ended August 4 included a huge surge in long-dated US yields and a US credit rating downgrade by Fitch. Long-term yields surged to fresh cycle high on increased auction borrowing sizes across the board. Ten-year US yields rose to the highest level since October 2022 as the yields rose to 4.2043%

SPX weekly Closing changes: S&P 500 -0.5% DJIA -0.5% Nasdaq Comp -0.4% Russell 2000 -0.2% Toronto TSX Comp +0.5% On the week: S&P 500 -2.3% DJIA -0.5% Nasdaq Comp -2.8% Russell 2000 -1.2% Toronto TSX Comp -1.4% July was a great month for stocks but August has gotten off to a slow start. The market

Last week ended with Dollar taking center stage as the best performer, driven by significant turbulence in the bond markets that sent long-end yields sharply higher and provided a mid-week uplift. Although the greenback experienced a notable pullback following non-farm payroll report, it still stands poised for potential further gains, should the selloff in stocks

Demand optimism amid production cuts by Opec-plus countries lifted global oil prices to three-month highs. The most active US NYMEX futures gained almost 17% in July, sending prices well above $80 a barrel level. Tighter supply and expectations that the US Federal Reserve is close to ending its monetary tightening cycle, also aided the positive

Markets: Gold up $8 to $1941 US 10-year yields down 14.5 bps to 4.04% WTI crude up $1.10 to $82.65 EUR leads, CAD lags S&P 500 down 24 points, or -0.5% The initial reaction to the non-farm payrolls report was to sell the dollar but then the market had a look at the higher wage

Yen extended its late last week’s slide in Asian session today, a downward trajectory that prevailed despite a notable ascent in 10-year JGB yields above the 0.6% mark. Market watchers seemed to have absorbed BoJ’s recent communication effectively — that the added flexibility to its yield curve control doesn’t suggest an impending tightening cycle. As

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. FUNDAMENTALS * Spot gold was up 0.1% at $1,936.15 per ounce by 0138 GMT, while U.S. gold

The US dollar has recovered some of the selling after non-farm payrolls as equities give back gains. Notably, Treasury yields remain near the lows of the day, led by a 13 bps fall in 7-year notes. The dollar has been dragged around by fixed income this week but its stocks behind this move. The S&P

Dollar falls broadly in early US session following slightly below-expectation non-farm payroll job growth. However, the downside is currently limited, thanks to stronger-than-expected wage growth. The market behavior seems to suggest that traders are merely lightening their positions ahead of the weekend and CPI data release next week, rather than initiating any significant position reversals.

Gold traded range bound on Friday in the absence of any significant trigger. The yellow metal is near its three-week lows dragged by the strength in the dollar index (DXY) which has sustained above the 102 mark against a basket of six top currencies. Street awaits the US non-farm payroll data due for a release,

Prior +6.4%; revised to +6.2% That’s back-to-back large increases in factory orders in Germany, but there is a big caveat to take note of. A big chunk of the rise in industrial orders in May and now June is stemming from remarkably large individual orders i.e. anything more than €50 million. This is again the