Dollar falls sharply together with treasury yield after US data showed consumer inflation cooled more than expected. Stock futures also jump as reaction. Australian and New Zealand Dollar appear to be leading the way up, followed by Yen and then European majors. The question now is on whether current wave of selloff would sustain pass
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Natural gas traders have been carefully watching emerging forecasts that show a brutally-cold Christmas in much of the US but I think the broader market will soon tune in. Here’s a composite of the major weather models from Bamwx.com and it highlights what is coming. The peak of the cold is set to hit right
New Delhi: Gold prices edged up on Tuesday on the back of a softer dollar, although prices moved in a tight range as investors maintained caution ahead of US inflation data and the Federal Reserve’s policy decision. Focus shifts on to the US consumer price index (CPI) data for November due later in the day
Yen is so far the clearly weaker one in otherwise ranging markets. Rebound in US stocks and treasury yield overnight was a factor in Yen’s selling. But after all, there is no follow through weakness for now. Traders are generally still cautious ahead of the four central bank meetings later in the week. Before that,
Japanese Trade and Industry Minister Nishimura remarks relating to chip-related export curbs to China. will take appropriate measures on chip-related export curbs to China taking into consideration each country’s regulations checking with Japanese companies on the impact of chip curbs on China, we are not hearing of any major impact in discussion with US Commerce
NEW YORK: Oil prices gained more than $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China’s loosening COVID-19 restrictions bolstered the fuel demand outlook. Brent crude futures were up $2.38, or 3.1%, at $78.48 a barrel by 11:02
Euro is trading as the strongest one today so far, followed by Sterling, Swiss Franc and Dollar. All four currencies are going to have respective central bank meetings this week, and all are expected to hike by 50bps. Australian Dollar is leading commodity currencies and Yen lower. News flow is slow while the economic calendar
The major US stock indices are opening with marginally positive gains. The Dow Industrial Average is leading the way. The NASDAQ index is up less than +0.1% a snapshot of the market currently shows: Dow Industrial Average up 113.37 points or 0.34% at 33589.84 S&P index up 6.95 points or 0.18% at 3941.34 NASDAQ index
New Delhi: Gold prices were under pressure on Monday dragged by a firm dollar, while investors positioned for key US inflation data and the Federal Reserve’s rate-hike verdict due this week. In the Fed’s final meeting of 2022 scheduled on December 13-14 traders are pricing in a 93% chance of a 50-basis-point rate hike by
Dollar rises mildly in Asian session as investors turned cautious. Euro is also firmer but Sterling is on the softer side together with Aussie and Kiwi. Market focus are on the four central bank meetings this week, and lots of important indicators. Among them, Fed’s new economic projections and dot plot would likely be most
New cases in mainland 2240 vs 2338 a day ago Asymptomatic cases 6598 vs 8477 a day earlier 0 deaths vs 0 a day ago China is no longer rounding millions of people up for mandatory testing and the people who are sick don’t want to be tested on fears of being ostracized. Quarantines at
maize (corn) prices are trading higher by about 34% year-on-year at Rs 2,225 per quintal (ex-warehouse Chhindwara). Due to higher prices, the government is considering curbs on the export of maize. As per market sources, the Ministry of Food Processing Industry has written to the Commerce Ministry proposing a ban after starch manufacturers raised the
MUFG Research maintains a short AUD/JPY position in its trade of the week portfolio. MUFG targets 88.70 with a stop at 94.20. “We are maintaining our short AUD/JPY trade idea in anticipation that the JPY will continue to rebound and recent AUD gains are premature,” MUFG writes. For bank trade ideas, check out eFX Plus.
Next week, not only gold investors but all the financial market participants are likely to exercise caution ahead of three key events: the Federal Reserve’s monetary policy decision due on the 14th, the European Central Bank’s Monetary policy decision due on the 15th, and Bank of England’s monetary policy decision due on 15th. In addition,
The one-year oil curve fell into contango today as front-month prices continued to crumble. I think the focus on the curve structure is overdone, especially with uncertainty about China’s reopening timeline, but that likely kicked off a final press towards $70. Bidders just above $70 finally stepped in, some perhaps on hopes for an OPEC
An outage on the largest oil pipeline to the United States from Canada could affect inventories at a key U.S. storage hub and cut crude supplies to two oil refining centers, analysts and traders said on Friday. TC Energy’s Keystone pipeline ferries about 600,000 barrels of Canadian crude per day (bpd) to the United States.
Trading in the markets was rather subdued last week. Canadian Dollar was an exception, as it was pressured by falling oil price and a dovish BoC hike. The Loonie just closed marginally higher against Yen, which was also soft. On the other hand, Swiss Franc was the best performer, followed by the resilient Aussie and
SPX weekly It was a tough one for US equities this week and it ended on a soft note after a back-and-forth session. Today’s hot PPI number and better UMich sentiment raised some questions about whether Fed hikes are working enough to cool inflation and whether Powell could take a hawkish stand next week. I