Overall, the markets continue to trade in a mixed manner. US stocks declined for a second day overnight, but the selloff didn’t continue in Asia. Sentiment is somewhat supported by optimism of easing restrictions in China. In the currency markets, Yen is currently the worst performer for the week, followed by Aussie. Canadian Dollar is
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Australian Q3 2022 GDP rises less than expected at +0.6% q/q expected +0.7%, prior +0.9% For the y/y, comes in at 5.9% expected 6.3%, prior 3.2% (revised down from 3.6%) the annual rate reflects a very low base back in Q3 2021, the Australian economy contracted then with shutdowns in major cities due to the
Shares of sugar companies rallied 9.8% on Tuesday following reports of 7% fall in India’s sugar output so far this year. Erratic weather conditions have hampered cane yields, which could further result in a reduction in exports. From the pack, was one of the biggest gainers. The stock rallied 9.8% in Tuesday’s trade on the
Canadian Dollar is currently the weakest one in otherwise sluggish markets. Falling oil price is a factor dragging down the Loonie, and traders are also cautious on a dovish rate hike by BoC tomorrow. There is still no clear follow through buying in Dollar against others. Aussie is steady after RBA rate hike earlier today,
Treasury yields are retreating to the lows for the day now and that is taking the dollar down with it. 10-year yields are down a little over 2 bps to 3.553% and in turn, we are seeing the dollar lose some ground across the board after having stayed little changed for the most part in
New Delhi: Gold prices rose on Tuesday, supported by a pullback in the US dollar, making the bullion less expensive for buyers holding other currencies. The dollar index rebounded on Monday after data showed that the US services industry activity unexpectedly picked up in November, prompting speculation that the Fed may lift interest rates more
Dollar tried to rebound overnight, as risk-on sentiment receded after solid services data. But there is no follow through buying in Asian session with generally mixed mood. Aussie is under mild selling pressure and there is no support from RBA’s expected 25bps rate hike. For now, Dollar and Euro are on the stronger side for
The UK data via the British retail consortium (BRC) survey: total sales in November +4.2% y/y vs +1.6% y/y in October like-for-like sales +4.1% y/y vs October +1.2% y/y And, via Barclaycard: UK November consumer spending +3.9% y/y vs October +3.5% y/y Reuters summarise: consumer spending ticked up last month at a rate that greatly
Oil prices rose 3% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price cap on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over
Euro rises broadly today as supported by improvement in investor sentiment, but Sterling and Swiss Franc are lagging behind. Canadian Dollar also follows oil price high, as China appears to be moving further towards reopening. Australian Dollar is also firm. But Yen and Dollar are on the weaker side on positive market sentiment. Technically, while
Equities are lower and bond yields have come off earlier highs, making it fairly tough to get a grasp on any real drivers in European trading today. European indices are more mixed but slightly lower on the balance of things, with S&P 500 futures down 15 points, or 0.4%, currently. Meanwhile, 10-year Treasury yields are
New Delhi: Gold prices rose on Monday, hitting new 5 month highs on the back of weaker US Dollar and renewed interest in bullion after partial relaxations in Covid-19 restrictions by China. US employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably
Dollar’s selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and BoC later in the week. Euro
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Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses. Brent crude futures were down 11 cents or 0.1% at $86.77 per barrel by 1:28 GMT, while U.S. West Texas Intermediate (WTI) crude futures lost 14 cents or
Amidst the brighter coronavirus news coming out of China: Comes this from F1 (statement issued on Friday): “Formula 1 can confirm, following dialogue with the promoter and relevant authorities, that the 2023 Chinese Grand Prix will not take place due to the ongoing difficulties presented by the COVID-19 situation” ADVERTISEMENT – CONTINUE READING BELOW
Gold prices were flat on Friday but set for their best week in three ahead of the U.S. jobs report, helped by the dollar’s retreat on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. FUNDAMENTALS * Spot gold was little changed at $1,800.78 per ounce as of 0037 GMT,
The major indices are closing with modest changes after erasing large declines after the stronger-than-expected jobs report. The Dow industrial average closed higher while the S&P and NASDAQ index closed marginally lower. Final numbers are showing Dow industrial average rose 33.94 points or 0.10% at 34428.94 S&P index fell -4.96 point surmounted 0.12% at 4071.62