Eurostoxx -0.7% Germany DAX -0.6% UK FTSE -0.6% France CAC 40 -0.6% Spain IBEX -0.4% This follows the drop yesterday as sentiment stays rather sluggish with Wall Street also retreating. US futures are more tepid for the time being with S&P 500 futures flat but the overall mood isn’t really hinting at much so far
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June 9: Gold inched lower on Thursday, with prices restrained by rising Treasury yields ahead of key U.S. jobs and inflation data this week. FUNDAMENTALS * Spot gold was down 0.1% at $1,852.21 per ounce, as of 0052 GMT, while U.S. gold futures also eased 0.1% to $1,853.90. * Benchmark U.S. 10-year Treasury yields firmed
Yen is recovering slightly in Asian session today, digesting recent steep selloff. The climax selling is temporarily past as focuses turn to ECB policy decision today and US CPI tomorrow. Euro is trading mixed for the moment, except versus Yen and Swiss Franc. To be specific, it’s range bound against Dollar, Sterling, Aussie and Canadian.
The major US indices are all closing lower on the day. The declines are led by the S&P index which is closing down over 1%. The Dow industrial average is down around -0.8%. Intel is the worst performer in the Dow after a report that they may miss on 2Q earnings. Intel shares a down
Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without
Eurostoxx +0.3% Germany DAX +0.3% UK FTSE +0.2% France CAC 40 +0.3% Spain IBEX +0.3% In essence, European indices are playing a bit of catch up to the late turnaround in US stocks yesterday. The overall tone in the equities space remains more sluggish as outlined earlier here. S&P 500 futures are down 0.3%, Nasdaq
NEW DELHI: Gold prices edged lower on Wednesday, as an uptick in the dollar and US treasury yields limited bullion’s appeal, with investors looking ahead to US inflation data for more direction on interest rates. Gains in gold were capped as central banks worldwide tightened monetary policy to cool surging prices. Investors await the core
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with
The Canadian dollar is strengthening again today. The easy answer as to why is that crude is up $1.48 at the moment. But oil prices have bounced around today and the loonie has stayed bid. I think a better explanation is that the market’s perception on the sustainability of the oil and gas rally is
Gold in the national capital on Tuesday declined by Rs 205 to Rs 50,733 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 50,938 per 10 grams. Silver also dipped Rs 964 to Rs 61,555 per kg from Rs 62,519 per kg in the previous trade. “Spot
Selloff in Yen and Swiss Franc is still the main theme today even though US and Germany benchmark yields are retreating slightly. Australia was only lifted very briefly by the larger than expected rate hike by RBA. Though, Aussie is maintaining gains against Kiwi, which is the worst performing one for the day. On the
Prior 46.0 The downturn in the German construction sector continues as rising prices, material shortages and economic uncertainty weigh on activity and sentiment. S&P Global notes that: “Business conditions for construction companies in Germany remained challenging in May, with firms not only having to contend with long-running supply issues, but also a marked decline in
Oil prices inched higher on Tuesday on expected demand recovery in China as it relaxed tough COVID curbs and doubts a higher output target by OPEC+ producers would ease tight supply. Brent crude futures were up 19 cents, or 0.2%, at $119.70 barrel at 0050 GMT. U.S. West Texas Intermediate (WTI) crude futures were up
Australian Dollar rises broadly after RBA surprised the markets by a larger than expected 50bps rate hike. It’s now overpowering the strong Canadian and US Dollars. On the other hand, Yen’s weakness persists on rising benchmark treasury yields in the US and Europe. Sterling is turning soft after Prime Minister Boris Johnson won the confidence
MUFG Research discusses the USD outlook and sees a limited scope for further USD strength over the coming months. “The modest rebound in US yields has seen the Japanese yen underperform most underlining the yield dynamic for FX has come back into focus. The pound also performed poorly with investors unsure over the resolve of
LONDON -Oil prices topped $120 a barrel in choppy trade on Monday buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply. Brent crude was up 64 cents, or 0.5%, to $120.36 a barrel at 1339 GMT after touching an
Overall market sentiment is positive in the market today, even though trading is subdued with some European countries on holiday. Sterling is trading higher with commodity currencies. On the other hand, Swiss Franc is is the weakest one, followed by Yen and Dollar. Euro is mixed for now. In other markets, Gold is struggling in