Session wrap Forex news for Asian trading on Thursday, 17 November 2022 Eamonn Sheridan Thursday, 17/11/2022 | 03:56 GMT-0 17/11/2022 | 03:56 GMT-0 The USD gained some ground during the session here, albeit in limited ranges for major FX rates. Gold and oil declined also. There was little fresh on the news nor data front
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Gold prices rose by Rs 320 to Rs 53,449 per 10 grams in the national capital on Wednesday in line with firm global trend and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 53,129 per 10 grams. Silver, however, dropped Rs 125 to Rs 62,682
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday’s range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side. Sterling and Canadian Shrug respecting inflation
The US stocks are opening lower with the Dow trading above and below unchanged. The declines are being led by the Nasdaq as concerns about a more hawkish Fed as a result of strong consumer in the US at least. Retail sales were impressive. The snapshot of the market currently shows: Dow industrial average down
Among precious metals, silver staged a quick recovery in the last two and a half months as the white metal has surged Rs 10,000 per kilogram (kg) from Rs 52,000 to Rs 62,000 during the given period. Compared to its peak for the year, silver topped Rs 73,000/ kg mark during March on the back
The selloff in Dollar overnight didn’t last very long. The greenback is trying to recovery in Asian session, as traders turned cautious on news that Poland was struck by a Russia-made projectile. But overall trading is subdued so far. Aussie and Kiwi are the strongest ones for the week at this point, supported by optimism
TD on the Canadian dollar in the new year: We have been bearish CAD since mid-2022 on the basis that the higher rates go to fight inflation, the greater the downside macro shock associated with household debt servicing and hence the more the CAD will need to reflect it. That should intensify in the months
Oil prices fell by over $1 a barrel on Tuesday as rising COVID-19 cases in China heightened fears of lower fuel consumption from the world’s top crude importer. Brent crude futures were down $1.08, or 1.16%, to $92.06 a barrel at 1435 GMT, while U.S. West Texas Intermediate crude fell $1.13, or 1.32%, to $84.74.
Dollar selloff resumes today on the back of extended rally in the stock markets and decline in treasury yields. Selloff in particularly apparent against Euro and Sterling, and to a slightly lesser extent Aussie. Yen also manages to resumes recent rally against the greenback. But Swiss Franc is lagging behind, as dragged down by selloff
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Gold hovered near a three-month high on Tuesday, as a top U.S. central bank official’s comment raised hopes that the Federal Reserve would adopt a less aggressive approach on rate hikes, while a stronger dollar kept gains in check. FUNDAMENTALS * Spot gold was steady at $1,770.70 per ounce, as of 0122 GMT, after hitting
Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen is clearly soft but selling hasn’t really take off yet. Commodity currencies are currently having a slight upper hand against
I posted briefly on Morgan Stanley’s view yesterday: And a few more snippets were added later on Monday : More now: US dollar index will fall to 104 by the end of 2023, dollar is expected to peak as uncertainty around the Fed rate tightening abates, with the Fed forecast to make the final rate
LONDON: OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the
Dollar continues to trade mildly higher into US session as consolidations extend. Upside momentum in the greenback is very weak so far. But such consolidations could now extend for a further while. Aussie and Loonie are the next firmest. Yen is currently the worst performer, followed by Kiwi and Euro, and Sterling is mixed. Still,
US will continue to compete vigorously with China Xi and Biden spoke candidly about a range of issues Biden raised objections to China coercive actions toward Taiwan The US is hoping that they can characterize their relationship as one of competition but China rarely (if ever) uses the same language. Here’s the former Chinese mouthpiece
NEW DELHI: Gold prices were trading flat on Monday, after a strong rise in the previous session, as the dollar and US bond yields edged higher following comments from a top US central banker who warned that the Fed was not softening its fight against inflation. Gold prices posted their biggest weekly gain since March
Dollar recovers mildly in quiet trading in Asia, digesting some of last week’s losses. Yen and Canadian Dollar are following the greenback, while Swiss Franc leads Europeans lower. But overall, major pairs and crosses are bounded inside Friday’s range, suggesting lack of activity. The economic calendar is light today and trading could remain subdued. But