Yen and Dollar falls broadly today as risk-on sentiment is gaining steam. European majors are making a strong come back too. Sterling is boosted by upbeat job market data. Euro is also lifted after a ECB policymaker threw out the idea of a 50bps rate hike. Commodity currencies are mixed for the moment, slightly on
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Via Bloomberg comes remarks from a note from Goldman Sachs strategists including Zach Pandl, co-head of global FX and EM strategy cites historical data showing a more mixed performance for the greenback during an economic contraction While the US dollar typically strengthens when a recession is looming, all bets are off once it hits Right
Gold prices on Monday rose above the more-than-three-month low level hit in the previous session, as a weaker dollar outweighed pressure from higher U.S. Treasury yields. FUNDAMENTALS * Spot gold was up 0.3% at $1,815.69 per ounce, as of 0057 GMT. U.S. gold futures gained 0.2% to $1,812.20. * Gold fell more than 1% on
Yen and Dollar rise slightly in quiet Asia session today while Aussie and Kiwi weaken. It’s typical risk-off setting with weakness seen in oil price and gold too, but movements are limited. Major pairs and crosses are staying inside Friday’s range for now. Asia stock markets are also mixed with mild weakness seen in China
Although the major US stock indices opened sharply higher on Friday, they still closed lower for the week. The S&P and the NASDAQ are both down for 6 consecutive weeks. The Dow industrial average is on a 7 losing streak. Today the new week is getting off to a weaker start with the major indices
NEW DELHI: Gold prices edged up mildly on Monday, rebounding from recent lows, even as the US dollar continued to trade firm. The dollar started the week just off a 20-year high against peers, as investors sought safety due to fears about global growth, and continued to make rival safe-haven gold less attractive for buyers
The financial markets are generally quiet today. Major European indexes are mixed while US futures are treading water. Gold is still trying to defend 1800 handle, despite dipping earlier. Silver is also recovering ahead of 20 handle. Bitcoin and Ethereum are also staying in sideway trading. Euro is firmer in general with Dollar and Yen.
Earlier post here with some of the proposals (from May 21) China coronavirus – Shanghai official says many restrictions to remain Reuters have a bit of a summary up, highlights: Shanghai aims to reopen broadly and allow normal life to resume from June 1, a city official said on Monday. Deputy Mayor Zong Ming, speaking
TOKYO: Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia. Brent crude futures were down 64 cents, or 0.6%, at $110.91 a barrel at 0137
Friday report on a Barclays note eyeing EUR/USD under 1.00. Not that’s 1.00 is too far away! “If Russia closes its gas taps (to Europe), we expect EURUSD to fall below parity,” “Our economists estimate that a total loss of Russian supplies, combined with rationing of the remainder, could dent euro area GDP by more
A weekend report of comments from a “top official” in Iran. Bloomberg (gated) carry the report, citing Mohsen Khojastehmehr, managing director of the National Iranian Oil Co.. he spoke with reporters Saturday in Tehran. Iran has capacity to double oil exports if there’s sufficient demand Iran will “exert maximum effort to recoup its crude oil
The price action in risk assets in the last hour is sobering. The S&P 500 has turned a 110-point gain into a 60-point gain. That’s still up 1.5% but there’s still 90 minutes of trading left to go. If the index is already down for six straight weeks and it can’t muster a decent relief
The current financial market environment is one where market players are shunning riskier assets and moving to the safety of cash. Increasing nervousness about economic growth, inflation concerns, geopolitical issues, and the rising interest rates has caused the switch. The US dollar has emerged as the clear winner in this flight to safety, with the
Extreme volatility was seen in the markets last week, in particular in the across the broad rout in cryptocurrencies. Stocks the tumbled sharp but stage a late come back. Gold and silver resumed recent decline. Yen ended as the best performer, helped by both risk aversion and pull back in benchmark treasury yields. However, overall
It was Friday the 13th but the day was not a scary one for the markets. After sharp declines in the US stocks, bond yields and crypto coming into the day, today saw stocks rebound, yields moved back higher and bitcoin even rallied. Fundamentally, however, there was a scare as the UMichigan preliminary consumer sentiment
May 11: Gold prices eased on Wednesday to a three-month low as an elevated dollar continued to pressure bullion while investors await monthly U.S. inflation data, which could have some impact on the Federal Reserve‘s monetary policy stance. FUNDAMENTALS * Spot gold was down 0.3% at $1,832.06 per ounce, as of 0046 GMT. U.S. gold
Overall market sentiment stabilize in Asia today, with Nikkei leading other major indexes higher. Bitcoin is trading back above 20k, arguing that the climax of the crypto rout is over. In the currency markets, both Dollar and Yen are paring some recent gains while commodity currencies recover. But for the week, Yen is still the
The S&P 500 has extended its gain to 2.2%. Even with that, this should be the sixth consecutive week of decline. That only underscores how far this bounce could go. What could limit it though is the bond market. US 10-year yields hit 3.20% after the CPI report before falling all the way to 2.80%