EUR, AUD, GBP, CAD and NZD all traded a little stronger against the USD during the session. News flow was very light, as was data. On Wednesday New Zealand announced a boost to the minimum wage which should help household consumption but also increases the prospect of further Reserve Bank of New Zealand rate hikes
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Gold prices edged lower in a choppy session on Wednesday due to a slight uptick in the dollar, while investors looked forward to more economic data to gauge the U.S. Federal Reserve’s rate-hike strategy. Spot gold was down 0.1% at $1,872.44 per ounce by 10:27 a.m. ET (1527 GMT). U.S. gold futures rose 0.4% to
The markets are quiet today with a light economic calendar and slow news flows. European majors are generally higher, in particular with Sterling and Euro paring some earlier losses. Commodity currencies turned softer, but Yen is the weaker one. Dollar is mixed in between. Trading could remain subdued till Friday when UK GDP and Canadian
Stoxx 600 +0.3% German DAX +0.6% Francis CAC -0.1% UK’s FTSE 100 +0.3% Spain’s Ibex +0.7% Italy’s FTSE MIB +0.4% The Stoxx 600 hit a new cycle high in early trading but faded late as the US mood worsened and closed with only modest gains. Does that spill into tomorrow? If so there might be
Gold price jumped Rs 335 to Rs 57,463 per 10 gram in the national capital on Wednesday amid a rally in yellow metal prices internationally, according to Securities. The precious metal had settled at Rs 57,128 per 10 gram in the previous trade. Silver climbed Rs 516 to Rs 68,075 per kilogram. “Spot gold prices
Dollar is slightly on the softer side in Asian session today. Fed Chair Jerome Powell’s affirmed the markets overnight that disinflation process has started. The comments give risk sentiment a lift and pulled the greenback lower. It remains to be seen if Dollar is just digesting the near term gains or topping. Some more time
Via the New York Times (gated) comes the news on BPO backtracking on previous promises to cut productions (made in response to climate demands). BP’s chief executive, Bernard Looney, said on Tuesday that the company would pare back its plans to reduce oil and gas production in the coming years, a move that would result
Oil prices rose for a second-straight session on Tuesday, driven by optimism about recovering demand in China and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. Brent crude futures were up 98 cents, or 1.2%, to $81.97 a barrel by 10:50 a.m. EST (1551 GMT), while
While Dollar is now the strongest one for the week, buying remains not too committed, except versus the weak Pound. The greenback is indeed mixed, awaiting more guidance from Fed Chair Jerome Powell’s speech. Yen is currently the strongest one for today,. Australian Dollar is trailing as the impact of RBA’s hawkish hike is fading
The S&P 500 opened 15 points lower but has quickly pared that to 10 points. Meanwhile, the Nasdaq is trading flat after the open. There are eyes on megacap tech today as the fight to capture AI market share and headlines ramps up. Yesterday, Google said it was planning an announcement for Wednesday but that
Oil prices inched up in early trade on Monday after falling around 8% last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world’s top oil importer. Brent crude futures crawled up 16 cents, or 0.2%, to $80.10 a barrel at 0022 GMT, while
Australian Dollar recovered broadly today following hawkish RBA rate hike, which signals more tightening ahead. The rebound in Aussie also takes New Zealand Dollar higher. On the other hand, Dollar is once again consolidating overnight gains. The rally in the greenback is not too committed this week so far. But Fed Chair Jerome Powell’s speech
Australian dollar jumped higher after the Reserve Bank of Australia +25bp rate hike Australia – RBA raises the cash rate by +25bp to 3.35%, as expected A magnitude 5.6 earthquake has hit central Turkey Bank of Canada Governor Macklem speaking Tuesday, 7 February 2023 USD losing ground in Asia trade European Central Bank speakers due
Oil prices rose on Monday, buoyed by supply concerns, but remained near three-week lows on fears that slower growth in major economies could curb demand. Brent crude futures rose 46 cents, or 0.6%, to $80.40 a barrel by 1442 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.3%, to $73.59. While
Dollar is staying generally firm today but lacks clear-cut momentum to extend last week’s rally. Overall sentiment is mildly on the risk-off side, with major European indexes and US futures in red while benchmark treasury yields jump. For now, Yen remains the worst performer for the day, followed by Kiwi and then Aussie. Swiss Franc
The market is pricing in a higher path for the Fed funds rate ahead of tomorrow’s speech from Fed Chairman Jerome Powell and that means a higher US dollar. The implied peak is now up to 5.11%, which essentially matched the Fed dot plot of 5.00-5.25% and rates remain at 4.75% through year end. This
Gold prices hit a more than four-week low on Monday, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might keep hiking interest rates. FUNDAMENTALS * Spot gold was little changed at $1,865.88 per ounce, as of 0045 GMT, after hitting its lowest level since Jan. 6 earlier in
Yen opens the week broadly lower on rumors that current ultra-loose monetary policy would be maintained by the next BoJ governor. Meanwhile, markets are mixed elsewhere. Dollar is paring some gains after initial rally, but stays generally firm. Australian Dollar is trying to recover with other commodity currencies. Swiss Franc is slightly outperforming other European