Australian Dollar surges after RBA surprised the markets by resuming rate hike today. In addition, tightening bias is maintained even though the tone is softened. New Zealand and Canadian Dollars trail closely, boosted by a slightly positive risk sentiment. On the other hand, Japanese Yen continues to be the runaway loser in the market. Dollar
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Liquidity and trader interest is thinner than normal here today: New Zealand, Australia, Singapore and Hong Kong are all open as usual. NZD/USD is a mover, a combination of beats on jobs data and assurances of financial stability from the Reserve Bank of New Zealand has bolstered the case for another RBNZ rate hike at
Gold price declined Rs 225 to Rs 60,075 per 10 grams in the national capital on Tuesday amid a fall in precious metal prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,300 per 10 grams. Silver also went lower by Rs 380 to Rs 75,600 per
Forex traders are probably starting to put up guards ahead of the key events in FOMC rate tomorrow, ECB on Thursday, and NFP on Friday. Australian Dollar remains the top performer today, bolstered by RBA’s unexpected rate hike. However, there is no follow through buying after the initial spike. Meanwhile, Yen is attempting a recovery,
Major indices are experiencing a decline today, with all three showing a decrease in value. The Dow Jones Industrial Average (DJI) dropped by 131.42 points, a 0.39% decrease at 33,920.29. The S&P 500 (SPX) also fell by 16.14 points, representing a 0.39% declineat 4,151.74. Lastly, the Nasdaq Composite (IXIC) decreased by 40.65 points or 0.33%
Gold prices held steady on Tuesday as market participants awaited fresh cues from top central banks on their monetary policy plans, especially from the U.S. Federal Reserve. FUNDAMENTALSSpot gold was unchanged at $1,982.58 per ounce by 0012 GMT. U.S. gold futures fell 0.1% to $1,990.80. The Federal Reserve, which meets on May 2-3, is widely
Dow Jones / Market Watch report on analysts assessment of China’s recovery.the report cites CBB: “New data offer the first evidence of a truly robust 2023 recovery,” analysts at China Beige Book wrote over the weekend. “The economy fired on most cylinders in April, as indicators not only gained over COVID-depressed levels of a year
Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from OPEC+ supply cuts taking effect this month. The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar
Dollar rises against Yen after release of slightly better than expected ISM manufacturing data. But there is no clear pick up in buying against other major currencies. Weakness in Yen remains in the main theme. Overall trading is relatively subdued today, with most markets closed on holiday. But volatility will certain come back with lots
The major US indices are mixed in early trading: Dow industrial average is up 64 points or 0.19% at 34163.20 S&P index is up 2.55 points or 0.06% at 4172.10 NASDAQ index is down minus 10.6.4 -0.09% at 12216 Russell 2000 is up 2.95 points or 0.18% 1772.11 In the US debt market, yields are
gold is often considered a haven is because we all have seen stock prices crashing, but the same can’t be true for gold. There is no counterparty or credit risk. If we talk in today’s context, unlike a bank, gold cannot go bankrupt! This also reminds me of a dialogue from a popular web series
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
COMEX Gold prices started the week on a positive note, amid concerns of an nearing “X date” for the US debt ceiling coupled with renewed fears on the banking sector. The estimates for the US hitting the debt ceiling have been pushed to July, amid lower tax collections this season. US 5-year CDS rose to
SPX weekly Here’s how the week played out. It started with worries about First Republic Bank and that ultimately led to a death spiral of the company as it reported much larger deposit outflows than anticipated. Shares hit $16 on Monday and are finishing the week around $3.50 with an FDIC takeover looming. So what
Silver returned to the limelight outperforming its sister metal gold in the past few weeks. Prices surged to a near one-year high on increased demand optimism and a weak US currency. In the overseas market, prices gained more than 25 per cent in the last one-month period while the domestic futures rallied more than 20
The US FDIC is holding a auction of the assets of First Republic Bank this weekend, according to a Reuters report. There are roughly six bidders for the assets, including a bid from JPMorgan. The report says bidders were asked for non-binding bids Friday and will be studying FRC’s books over the weekend. A deal
Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand. Brent crude futures for June were trading at $78.53 a barrel, up 16 cents, or
The markets experienced surprisingly high volatility in the last week of April, with central bank expectations as the primary driver. Japanese Yen emerged as the worst performer following BoJ’s dovish stance, leading bond traders to abandon hopes for any changes to yield curve control. Australian Dollar was the second-worst performer, as economists now lean towards