Canadian Dollar is taking a pole position in quiet markets today. Overall picture is mixed, as other commodity currencies of Aussie and Kiwi are both losing some momentum. Dollar is turning slightly stronger, except versus Loonie. Sterling faced some selloff in early part of European session, but Euro is following later. The more persistent move
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Starting from 8 January next year, China will reopen its borders and lift quarantine measures as they are set to label Covid as a disease that only requires “necessary treatment and measures to curb the spread”. That will officially put an end to their zero-Covid policy – which has been in place for roughly three
Gold prices edged up in early Asian hours on Tuesday, helped by a softer dollar, although trading was thin after the long Christmas weekend. * Spot gold was up 0.3% to $1,802.63 per ounce as of 0021 GMT. U.S. gold futures rose 0.3% to $1,810.00. * The dollar index slipped 0.1%, making bullion less expensive
Despite a bit of a setback over the past few weeks, markets are arguably still sticking with their guns as we look towards next year. It is very much a case of nobody wants to buy what the Fed is selling – at least in terms of pricing and rates. That doesn’t bode well for
Mumbai, The rupee appreciated 17 paise to close at 82.65 (provisional) against the US dollar on Monday, tracking positive domestic equities and the weakening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.79 and touched an intra-day high of 82.63 and a low of
ICYMI, I posted last week on the holidays in major FX centres in Asia this week. The whole week is going to be more or less a holiday, but Monday and Tuesday will be officially closed in many centres: Japan and China are officially open on Monday. BOJ Gov Kuroda is speaking: Once again, market
Oil prices rose on Friday on expectations of lower Russian crude exports from the Baltic region in December, offsetting worries that a looming Arctic storm across the United States could snuff out transport fuel demand growth this holiday season. Brent crude rose 88 cents, or 1.1%, to $81.86 a barrel by 0148 GMT, while U.S.
With the day moving toward a close, the stocks are moving off their high levels. The NASDAQ index is now negative on the day. US yields remain higher and near their highest levels. The two year yield is up 6.3 bps at 4.327%. The 10 year yield is at 3.751%, up 8 bps on the
New Delhi: Gold prices edged down at open, and were stuck in a tight range on Friday, amid thin trading. Bullion prices dropped fter US economic data highlighted the country’s economy rebounded faster than previously estimated, boosting the dollar and potentially setting the Fed on a keener path to fight inflation. Gold futures on were
The major US indices are closing the day higher and near highs for the day. At session lows the Dow Industrial Average was down -213 points S&P index was down -25.37 points NASDAQ index was down -114.30 points The final numbers for the day are showing: Dow industrial average rose 176.42 points or 0.53% at
Despite global copper markets experiencing tough fundamentals, the metal is poised to close trading this year with a mild positive bias. The global energy crisis intensified by the Russian-Ukraine war, US Fed’s monetary policy, and persistent worries over China’s economy pondered the sentiment of the metal. Copper prices in the key London Metal Exchange started
Kuroda filled the Christmas stockings of anyone long yen last week. If you missed that, we hope that Santa Claus brings you something special. Trading on Monday will be extremely thin and it will be choppy all next week as the year winds down. Have a look at the economic calendar to see what’s coming
Gold prices reached a six-month high of $1833 during the week as the number of Covid cases surged across countries, triggering a safe haven appeal for the metal. At the time of writing, gold prices hovered around $1805, making a significant slide from the highs but still are up 0.9% for the week gone by.
There was a flurry of data today before markets settled into the holiday week ahead that will have Stock and bond markets closed on Monday in observance of Boxing Day and Christmas and early closes next Friday and on Monday for New Years. The forex market will be open Monday to Friday as is customary,
Gold prices declined by Rs 372 to Rs 54,853 per 10 grams in the national capital on Friday amid weak trends in precious metal in global markets, according to Securities. The precious metal had ended at Rs 55,225 per 10 grams in the previous trade. Silver climbed marginally by Rs 15 to Rs 69,273 per
Range trading continues in overall quiet markets today. The batch of economic data from the US and Canada trigger little reactions. Yen is still set to end as the strongest one for the week, followed by Canadian and then Swiss Franc. Kiwi is the worst, followed by Sterling and than Dollar. In Europe, at the
Some good economic data points today drove a jump in the Atlanta Fed GDPNow tracker for Q4 to +3.7% from +2.7%. “After recent releases from the US Census Bureau, the US Bureau of Economic Analysis, and the National Association of Realtors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private
Oil prices rose 2% on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent crude was up by $1.40, or 1.70%, to $82.38 a barrel at 1044 GMT, while