Aussie and Kiwi firm up mildly in Asian session, following the rebound in risk markets. But overall, the currency markets are rather quiet, with major pairs and crosses stuck inside last week’s range. Traders are probably holding their bets for now, and await today’s BoE rate decision. Another big event of US non-farm payroll employment
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Today’s ISM services data put the question of a US recession back to the test. And given Canada’s tight trading relationship with the US and the Bank of Canada’s inclination to hike rates, the good US news is also good for the loonie. It’s been enough for the market to largely ignore the slump in
Gold in the national capital on Wednesday declined by Rs 208 to Rs 51,974 per 10 grams, according to Securities. The yellow metal had closed at Rs 52,182 per 10 grams in the previous trade. Silver also fell sharply by Rs 1,060 to Rs 57,913 per kg from Rs 58,973 per kg in the previous
Yen, Swiss Franc and Dollar turn softer with other markets trading in slightly upbeat tone. Traders are back to business as usual, after no substantial actions from China during the time US House Speaker Nancy Pelosi visited Taiwan. Australian Dollar is leading Canadian and Sterling higher. Euro is mixed for now. Focuses will turn to
As soon as Pelosi entered into Taiwan airspace, there was a release of pressure in the bond market as yields jumped higher and stuck it out until the end of the day. What looked like another like another day of buying since the Fed last week eventually turned into a rout that brought up a
Gold slipped on Wednesday as the dollar and U.S. Treasury yields advanced after hawkish comments from Federal Reserve officials hinted at continuing aggressive interest rate hikes in the near term. FUNDAMENTALS * Spot gold was down 0.2% at $1,757.08 per ounce, as of 0105 GMT, after hitting a near one-month high of $1,787.79 on Tuesday.
Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen’s rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is attempting a rebound, but momentum doesn’t warrant a reversal yet. Sterling is the relatively stronger European major, but the break
Stoxx 600 -0.2% German DAX -0.2% UK FTSE 100 -0.1% French CAC -0.3% Italy MIB -0.3% Spain IBEX +0.2% Losses were entirely trimmed shortly before the close but then there was a late dip. Overall though, this looks a lot more like a regular August market then all the drama around Taiwan/Ukraine might lead one
Gold prices declined by Rs 289 to Rs 51,877 per 10 grams in the national capital on Tuesday, according to Securities. The precious metal had closed at Rs 52,166 per 10 grams in the previous trade. Silver also fell sharply by Rs 841 to Rs 58,480 per kg from Rs 59,321 per kg in the
Markets are generally in cautious mode today. While Asian markets tumbled, major European indexes are just in slight red. Dollar rebounds notably after US House Speaker Nancy Pelosi finally took the flight from Malaysia to Taiwan. Investors are still awaiting whether China would take any “retaliation”. Meanwhile, Yen remains the strongest one, followed by Dollar
The post-FOMC unwind of long USD/JPY carried on further again in Asian morning trade on Tuesday. USD/JPY dropped hard and fast, to lows (briefly) under 130.50. Japanese finance minister Suzuki made comments decrying the ‘rapid yen moves’. He, and other Japanese officials, had been very vocal indeed about not wanting such rapid yen FX moves
Gold hit a four-week high on Tuesday, as a weaker dollar and a dip in U.S. Treasury yields boosted demand for the safe-haven metal amid mounting worries over an economic slowdown. FUNDAMENTALS * Spot gold was up 0.4% at $1,778.69 per ounce, as of 0044 GMT, its highest since July 5. * U.S. gold futures
Yen’s broad-based rally continues in quiet Asian session today. Dollar and European majors are generally steady. Some weakness is seen in Aussie and Canadian, but selling is so far limited. In other markets, sentiment is mixed with slight recovery seen in some Asian stock markets, including Japan. Gold is consolidating last week’s gain and remains
July OPEC output rose 310k bpd, according to the latest Reuters survey. That still left it 1.3 mbpd short of quotas. OPEC had pledged at 412k bpd increase in July. Saudi Arabia did managed to increase production by 150k bpd but was at 10.75mbpd compared to its 10.833mbpd quota. The UAE and Kuwait are the
Gold prices declined by Rs 195 to Rs 51,947 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to Securities. The precious metal had closed at Rs 52,142 per 10 grams in the previous trade. Silver declined by Rs 223 to Rs 58,731 per kg from Rs
Dollar selling is back today while Yen’s strength continues. Euro is also soft as the second worst after the greenback. On other hand hand, Sterling is strengthening with help from buying against Euro. Commodity currencies are mixed for now, with Canadian Dollar turning softer while Kiwi leads Aussie higher. Stock market sentiment is mixed, and
The $350 billion figure is being touted in a worst case scenario as stalled projects have dented the confidence of hundreds of thousands of homebuyers, triggering a mortgage boycott across more than 90 cities and warnings of broader systemic risks. In the worst-case scenario seen: S&P Global Ratings estimated that 2.4 trillion yuan ($356 billion),
Aug 1: Gold prices held steady on Monday, hovering near a more than three-week high scaled in the previous session, helped by a weaker U.S. dollar and lower bond yields. FUNDAMENTALS * Spot gold held its ground at $1,755.59 per ounce, as of 0053 GMT, after hitting its highest since July 6 at $1,767.79 on