The FX market is relatively stable today after some big moves to start the week. The next leg of price action could be driven by economic data with a few notable items on the agenda. PMI data so far has been mixed A recap of the headlines: A soft spot was UK manufacturing at 46.0
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Gold rose by Rs 157 to Rs 51,707 per 10 gram in the national capital on Tuesday amid an increase in international yellow metal prices, according to Securities. In the previous trade, the precious metal settled at Rs 51,550 per 10 gram. Silver also jumped by Rs 364 to Rs 55,662 per kg. In the
Euro’s selloff continues today after poor PMI data and stays as the worst performer for the week. Swiss Franc is also weak for now, together with Sterling. Dollar remains the strongest one, but struggle to extend gains against commodity currencies. In other markets, major European indexes are soft but downside is limited. US futures also
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NEW DELHI: Gold prices declined for the straight sixth session to hit their lowest in more than three weeks amid rising gloom for the safe-haven bullion. A stronger dollar and expectations of more rate hikes from the US Federal Reserve to tame surging inflation weighs on the sentiments for the yellow metal. A 50 basis
Risk off sentiment appears to be intensifying today. Selloff in particularly serious in German DAX, while FTSE and CAC are also down. US futures are also pointing to a lower open while 10-year yield is pressing 3% handle. In the currency markets, Euro and Sterling are main losers for the day so far, but Yen
As if today’s 13% rise in European benchmark natural gas prices wasn’t enough, today Citi is out with a note saying UK inflation is on course to rise 18.6% y/y in January. The forecast is largely based on natural gas prices and doesn’t take into account potential mitigation strategies from the government. The current level
Gold price fell by Rs 315 to Rs 51,679 per 10 gram in the national capital on Monday amid a decline in international precious metal rates, according to Securities. The yellow metal had closed at Rs 51,994 per 10 gram in the previous trade. Silver also declined by Rs 635 to Rs 55,416 per kg.
The markets are rather steady in Asian session today. With a near empty calendar, trading could remain subdued. Activity, however, might start to increase with the wave of flash PMI data to be released tomorrow. For now, Aussie and Kiwi are trying to recover. But Dollar is staying firm. Euro and Yen are on the
Snippet from a note from ING on crude oil. From Friday ICYMI. In brief: Stubborn Russian oil output and weaker than expected demand growth mean the oil market is likely to remain in surplus for the remainder of this year and into early next year, which should limit the upside in oil prices. Although, given
Gold rose for the fourth consecutive week and scaled the pivotal $1800/oz level; however, the bulls lost confidence and the metal registered its first decline in five weeks. Gold ended the week with a sharp 3 per cent decline. The trend in the US dollar has been one of the key price determining factors for
Over 1,900 workers at Britain’s biggest container port are due to begin eight days of strikes today, Sunday, 21 August 2022. This will seriously disrupt trade and supply chains. “The port regrets the impact this action will have on UK supply chains,” a Hutchison Ports spokesperson said.The port said it would have a contingency plan
Long term for most means encompassing the complete market/business cycles, i.e. eliminating the risk of mistiming and not getting affected by short-term worries. We generally believe that the economy will do well given enough time, and the stock market will follow suit. Mitigate the risk of negative returns by holding for long term Most people
What key events and releases will be driving the markets next week? Tuesday , August 23 various flash PMI estimates for Europe and UK US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI 52.0 vs. 52.2 last month. Services PMI 50.0 vs. 47.3 last month US new home sales, 10 AM ET. Estimate 574K
Gold prices slipped to a three-week low on Friday and were heading for their first weekly decline in five, as a stronger dollar and prospects of more rate hikes by the U.S. Federal Reserve dented bullion’s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,755.89 per ounce, as of 0107 GMT, after falling to
The week is ending on a soft note. All 3 major indices are closing lower on the day with the NASDAQ down over 2%. The Russell 2000 index of small cap stocks fell by -2.17%. The declines in the Dow industrial average today tipped its fortunes for the week into negative territory but only barely.
After facing strong selling pressure in July, gold and silver prices rebounded as the US dollar and real US bond yields rolled over. This rebound has, meanwhile, run into resistance as it was lacking the support from safe-haven seekers. Our base case remains that safe-haven demand should fade further, assuming that the US economy does
Dollar ended as the strongest one, closing notably higher against all other major currencies, as risk-on sentiment lost steam while treasury yields surged. The late momentum was rather impressive and argues that the greenback might be ready for breakouts. While Canadian Dollar ended as the second strongest, it’s Swiss Franc’s resilience, and strength against European