The forex markets are treading water today. Sentiments were lifted by China’s rate cut. UK retail sales came in stronger than expected. ECB officials continued to talk up the prospect of a July hike. But none of these triggered any meaningful moves in the markets. For the week, Swiss Franc is still the best performer,
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The People’s Bank of China set their one- and five-year loan prime rates today. Despite there not having been any change to the Medium-term Lending Facility (MLF) rate this month the Bank cut the 5-year from 4.6% to 4.45%, leaving the 1-year unchanged at 3.7%. The 5-year LPR is the reference rate used for home
NEW DELHI: Gold prices were trading flat with a negative bias on Thursday as steady US dollar and elevated Treasury yields weighed on greenback-priced bullion. Gold’s performance and outlook have also been under the cloud amid aggressive Fed monetary policy stance on rate hikes as the bank pushes to rein in soaring inflation. Gold futures
Markets are back in risk-off mode as down dropped more than -1100 pts overnight. Dollar and Yen tried to rebound but there was no follow through buying. Indeed, both remain the worst performing ones for the week. Instead, safe-haven flow seems to be benefiting Swiss Franc more this time. Franc is also helped by buying
MUFG Research discusses CHF outlook and sees a scope for further gains in the near-term. “The best performing G10 currency so far this week has been the Swiss franc. It has benefitted alongside the other safe haven currencies of the yen and US dollar from the sharp US equity market sell-off overnight. The main trigger
Gold and silver have witnessed a sharp rally following Russia’s invasion of Ukraine. But the prices soon cooled off as a firm US dollar and upside in bond yield eroded the bullion’s sheen. Currently, gold is down 10 per cent from its record peak, having breached the Rs 50,000 mark on . Against the backdrop
Risk aversion is once again a clear main theme of the day, with European indexes in deep red while US futures point to extended selloff. Safe-haven flows are also pushing benchmark global yields lower, with Germany 10-year yield back at 0.9% while US 10-year yield is back below 2.8%. Swiss Franc is the overwhelming winner
Adam posted a heads up of what to watch for the yen from this report: The report is due Thursday, Canada/US time, 19 May 2022 at 2330 GMT. This is Friday 20 May, Japan time. Tomorrow. The Tokyo area CPI report was released in the first week of May, it serves as a bit of
TOKYO – Oil prices rose on Thursday, recovering from early losses, as lingering fears over tight global supplies outweighed fears over slower economic growth as highlighted by slumping global shares. Brent crude futures for July were up 97 cents, or 0.9%, at $110.08 a barrel at 0220 GMT, after falling by more than $1 earlier
The forex markets are engaging in sideway trading in very tight range in Asian session. Dollar and Yen remain the weaker ones for the week. But so far, there is not following selling to push them through near term support level yet. Overall risk sentiment is crucial in determining the next move. While US stocks
There’s a tug-of-war between bond sellers who are worried about inflation and buyers who are looking for safety. We saw both sides today as US 10s hit 3% again early before the risk rout started. Now they’re trading at 2.92%. In the bigger picture though, you can see who is winning. The brief respites in
NEW DELHI: Gold prices dropped sharply on Wednesday following a rise in US treasury yields and cautiously positive comments from US Fed Chair Jerome Powell. However, the dollar index dropped to two-week lows, pushing up the appeal for the yellow metal. Investors trimmed bets on whether US interest rate hikes will drive further dollar gains.
Dollar and Yen are recovering mildly today but overall major pairs and crosses are stuck in very tight range. European majors are the weaker ones, with Sterling having a lower handle. Commodity currencies are mixed. Trading is also quiet in other markets with Gold continuing to hover slightly above 1800 handle. WTI crude oil is
The Australian dollar was a mover during the session here today. AUD/USD tested higher in the Sydney morning, ahead of wages data due at 11.30am Sydney time. The Wage Price Index data for Q1 of this year came in below central expectations on both q/q and y/y (see bullets above). AUD/USD dropped in response, albeit
Gold prices edged higher on Wednesday, as a weakening dollar countered pressure from stronger Treasury yields and an aggressive stance on inflation by the U.S. Federal Reserve chief. A weaker dollar makes gold more attractive for buyers holding other currencies. FUNDAMENTALS * Spot gold was up 0.1% at $1,816.56 per ounce, by 0106 GMT. U.S.
Overall risk sentiment is stable in Asian session today. Australian and New Zealand Dollar are trading mildly higher as recoveries extend, while Sterling is also slightly higher. On the other hand, Yen is softening together with Swiss Franc and Dollar, and that is in-line with risk trades. Euro and Canadian Dollar are mixed for now.
Stocks are falling from the high levels and the US open and that’s spread to commodities currencies and USD/JPY. The S&P 500 was more than 60 points higher at the open but is now trading up just 34 points. The intraday high was in the first seconds of trading and there has been steady selling
Mumbai: The price for premature redemption of sovereign gold bond (SGB) due on Tuesday has been fixed at Rs 5,115 per unit, an RBI release said. Premature redemption of Gold Bond is permitted after the fifth year from the date of issue and the due date of SGB 2016-17, Series III issued on November 17,