The firm notes that: “With the hawks continuing to hold the upper hand, we think the ECB will devlier a 75 bps increase at its meeting on 8 September. Although the growth outlook has further deteriorated, key Governing Council members have shown insensitivity to it. At the same time, there is greater focus on realised
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NEW DELHI: Gold prices edged higher on Friday but were headed for a straight third weekly drop. Gold futures on were trading flat, up 0.08 per cent or Rs 39 at Rs 50,109 per 10 grams. However, silver futures gained 0.21 per cent or Rs 113 to Rs 52,715 per kg. Patnaik, Head – Commodities,
With risk-off sentiment and rising treasury yields, Dollar is extending recent rally as focus now turns to US non-farm payrolls report. 2-yaer year hit the highest level since 2007 overnight while 10-year yield also breaks above 3.2 handle. While Dollar is strong, Euro is also resilient, holding in range against the greenback and maintaining most
DXY daily ANZ Research sees a scope for further USD gains into year-end. ANZ targets USD Index (DXY) at 111.20 and USD/JPY at 142 by year-end. “None of the arguments in favour of a stronger US dollar faded in August, in fact, many strengthened,” ANZ notes. “As we chart a course over the next six
Oil prices tumbled by 2% on Thursday, as new COVID-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand. Brent crude futures fell $1.95, or 2%, to $93.69 a barrel by 1341 GMT. U.S. West Texas Intermediate (WTI) crude futures slid $1.98, or 2.2%, to $87.57
Dollar’s rally continues in early US session as supported by risk aversion and rising yields. On the other hand, Euro is staying to digest this week’s gain, and broadly. As for today, Canadian Dollar is currently the second strongest, following the greenback. Aussie and Kiwi follow. Sterling and Yen are the next weakest following Euro.
The move comes after the city reported 157 COVID-19 cases yesterday with mass testing to be conducted from Thursday to Sunday. All residents have been ordered to stay at home with households allowed to send a single person out, once per day, for groceries. But at least there is some leeway in the sense that
Gold prices slipped to a more than one-month low on Thursday, as the dollar firmed and prospects of the U.S. Federal Reserve continuing with its aggressive policy tightening stance weighed on the zero-yielding bullion’s appeal. FUNDAMENTALS Spot gold XAU= fell 0.2% to $1,706.99 per ounce, as of 0100 GMT, after hitting its lowest level since
Dollar is back in control in Asian session, with some help from risk averse sentiment. Euro is staying firm against Sterling and Swiss Franc, and is picking up upside momentum against commodity currencies. In particular, Aussie is sold off on poor manufacturing data from both Australia and China. Yen is also weak along with renewed
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
West Texas Intermediate fell as much as $4.09 a barrel from high to low on Wednesday, putting it on course for a monthly decline of about 10%. Europe is gripped by an energy crisis that may herald a recession while in Asia, growth has slowed in China, the top world’s oil importer. “Consumption of crude
Euro is extending near term rally against Swiss Franc and Sterling after even higher than expected record inflation. But it’s struggling to gain against most other currencies. Dollar is also sluggish after ADP employment disappointment, while Yen’s is recovering. Commodity currencies are mixed for now. It seems like traders would continue to hold their bets
Prior 30.2 That’s a light bounce in consumer sentiment on the month but it comes after a continued drop since the turn of the year. Looking at the details, households continue to expect prices to “go up” in the next year with 93.8% of those surveyed anticipating that – down just 0.1% from July. That
Gold languished near a one-month low on Wednesday and was set for a fifth consecutive monthly drop, as solid U.S. data and hawkish Federal Reserve comments pointing to higher interest rates dented the non-yielding metal’s appeal. FUNDAMENTALS * Spot gold was flat at $1,723.28 per ounce, as of 0109 GMT, trading close to a one-month
Euro is staying as the strongest one for the week, as supported by a chorus of ECB hawks. Markets are starting to price in a 75bps rate hike by ECB next week. For now, the strength in Euro is most apparently only against Sterling, Swiss Franc and Yen. It’s kept well in range against Dollar.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation’s crude exports. Brent crude futures for October settlement were down
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,