Dollar stays broadly pressured today and it’s set to end as the worst performer for the week. PCE data offered some hope that inflation has finally topped. Broad risk sentiment is steady as US stocks could extend rebound in the final session of the week. Benchmark treasury yields are also trading slightly lower. Buying focus
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Expects BOJ to keep up monetary policy settings to achieve inflation target They have previously been explicit about the BOJ maintaining its ultra easing policy to achieve the 2% inflation target, but are now saying that the central bank should achieve that “steadily and sustainably”. Given Japan’s predicament, it roughly means the same thing so
NEW DELHI: Gold prices were little changed on Friday, but the metal was on track for a second weekly gain following a retreat in the US dollar from 20-year highs. Gold futures on were trading lower by 0.01 per cent or Rs 4 at Rs 50,867 per 10 grams. However, silver futures were trading higher
The moves in the financial markets are so far rather indecisive. While US stocks rebounded overnight, Asian indexes turned softer. Dollar and Yen are recovering slightly after yesterday’s selloff. Commodity currencies are retreating. European majors are mixed. While Euro and Sterling advanced against the greenback, there is no follow through buying so far. Technically, EUR/USD
Below are the auction results for the sale of $42 billion of 7 year notes: High yield 2.777%. The high yield at the last auction came in at 2.908 WI level at the top of the auction 2.801% Tail -2.4 basis points vs six-month average of 0.5 basis points Bid to cover 2.69Xvs. six-month average
OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. Western nations, grappling with record inflation rates that are threatening
Trading in the currency market is rather quiet today, with major pairs and crosses stuck inside yesterday’s range. Other markets are also treading water with European indexes and US futures slightly up. Benchmark treasury yields are mixed. Gold is retreating slightly while oil prices are also range bound. As for the week, Dollar remains the
He is calling on the BOJ to try and achieve 2% inflation in a stable and sustainable manner. Well, inflation in Japan hasn’t taken off like in other parts of the world but it is slowly moving towards the 2% target. And for a country that has long gotten used to deflation, that’s perhaps a
The RBI on Wednesday came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers (QJ) as approved by International Financial Services Centers Authority (IFSCA) were permitted
The recovery in Dollar and Yen appeared to be rather short-lived, as overall risk sentiment was steady. FOMC minutes affirmed market expectations of 50bps rate hikes ahead, which is not news. That triggered little reaction in the greenback. As for today, Euro is regaining some ground together with Swiss Franc. New Zealand Dollar is the
High yield 2.736% WI level at the time of auction at 2.732% Tail 0.4 basis points vs six-month average of 0.0 basis points bid to cover 2.44X vs. six-month average of 2.45X Directs (a measure of domestic demand) 20.0% vs. six-month average of 17.4% Indirects (a measure of international demand) 62.9% vs. six-month average of
Gold in the national capital on Wednesday dipped marginally by Rs 13 to Rs 50,935 per 10 grams in line with weak trends in international precious metal prices along with rupee appreciation, according to Securities. In the previous trade, the precious metal settled at Rs 50,948 per 10 grams. Silver, however, gained Rs 101 to
Overall, the moves in the forex markets are still indecisive. Dollar and Yen are striking back today and rise broadly. Swiss Franc follows as the third strongest, suggesting a risk-off undertone. Nevertheless, other markets are still relatively steady. New Zealand Dollar’s post-RBNZ rally faded rather quickly. But for now, Aussie is the weakest one, followed
Prior 100.9; revised to 100.1 Coincident index 97.5 Prior 95.5; revised to 96.8 The overall assessment of the coincident index remains unchanged i.e. seen as ‘improving’. The index is used as a reference to economic conditions, but most of the indicators used to make up the index has already been released individually – so there
HOUSTON: Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel by 0020 GMT. U.S. West Texas Intermediate (WTI) crude futures for July
New Zealand Dollar rises broadly today after an hawkish RBNZ rate hike, which suggests that interest rate could peak higher than earlier projected. Australian and Canadian Dollars are also generally firmer. On the other hand, Euro is starting to lose some upside momentum again, struggling to ECB driven rally. Swiss Franc and Sterling are soft
High yield 2.519%. The last auction high yield came in at 2.585% WI level at the time of the auction 2.526% Tail -0.7 basis points vs. six-month average of 0.0 basis points Bid to cover 2.61X vs six-month average of 2.59X Directs (a proxy for domestic demand) 22.09% vs six-month average of 17.8% Indirects (a
Gold prices touched a more than one-week high on Monday, as an easing dollar supported greenback-priced bullion, although rising U.S. Treasury yields capped gains. FUNDAMENTALS Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90. The dollar began the week