NEW DELHI: India MCX June futures fell marginally on Friday tracking weakness in gold spot prices which remained under pressure amid a strong dollar. The dollar steadied near a fresh 20-year high scaled on Thursday on concerns of aggressive US Federal Reserve’s actions to tame inflationary pressures, said a Reuters report. The bullion has lost
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Overall, the forex markets are rather quiet as the week is heading to a close. EUR/USD is still holding above 2017 low but lacks any strength for a recovery. The greenback might still have a last push during the rest of the session. Meanwhile, Gold is a major mover today, and it’s now pressing 1800
> Japan finance minister Suzuki still going – weak yen good for exporters, not importers Suzuki says the weak yen is a boost for exports but leads to higher prices for importers. D’uh. Japan finance minister Suzuki earlier today: More from him now: FX stability is important, recent rapid moves are undesirable weak yen is
Gold prices on Friday were held near a three-month low as the strongest dollar in two decades continued to sap demand for greenback-priced bullion, setting up what could be the metal’s fourth consecutive weekly fall. FUNDAMENTALS * Spot gold was down 0.1% at $1,820.54 per ounce, as of 0054 GMT, having dropped to its lowest
With the help from risk aversion and extended pull back in benchmark global treasury yields, Yen’s rebound is making some progress. US 10-year yield is back below 2.9% handle in Asian session while Germany 10-year bund yield also broke 1% yesterday. Euro and Dollar are still relatively firm on risk-off sentiment. On the other hand,
USD/JPY has been a one-way freight train since early March. The pair has gained for nine-straight weeks and hit 131.34 this week — the highest since 2002. Today and yesterday though, there’s been a bit of reversal. The pair is down 180 pips today to 128.19. That’s come with a retracement in US yields and
NEW DELHI: Gold prices gained mildly on Thursday as the yellow metal cheered the fall in US treasury yields after US consumer price data suggested inflation might have peaked in April. A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion. Gold futures on
Yen is the runaway winner today on massive safe-haven flows, which also pushed up treasury bonds. Meltdown in cryptocurrencies intensified further, as bitcoin barely holds on to 25k. Major European indexes are in deep red while US futures, in particular NASDAQ, are pointing to lower open. Benchmark treasury yields extend pull back, as US 10-year
This is via the Wall Street Journal (gated) on Premier Li Keqiang, who is resigning soon. With China mired in its worst economic funk in recent memory, Mr. Li is helping press China’s authoritarian leader to dial back some measures that steered the country away from Western-style capitalism and contributed to China’s economic slowdown, according
Oil prices eased in early Asian trade on Thursday, taking a pause after rising more than 5% in the previous session following new Russian sanctions on some European gas companies. On Wednesday Russia sanctioned 31 companies based in countries that imposed sanctions on Moscow after Russia invaded Ukraine in February. That created unease in the
The forex markets are stuck in very tight range in Asia session today, as traders are awaiting another set of consumer inflation data from the US. For now, Dollar, Euro and Yen are the stronger ones for the week, and they’re range bound against each other. Commodity currencies remain the worst performers, as led by
The US major indices are trading mixed in early trading after the higher-than-expected CPI data. The prices are well off the implied lows from the futures in premarket trading, but also off the premarket highs seen overnight. A snapshot of the market the couple minutes into the opening is showing: Dow industrial average up 92
NEW DELHI: Gold prices eased further on Wednesday amid a rise in the dollar while investors also awaited the US inflation data. The dollar hovered near recent 20-year highs, making greenback-priced bullion less attractive for other currency holders. Market participants will be keeping a close eye on US consumer price index (CPI) data for April
As initial reactions to higher than expected headline and core CPI readings, Dollar is trying to resume its near term advance, which stocks futures are paring gains. The question is how sustainable the rally could be. Euro was rather indifferent to hawkish comments from ECB officials, who continued to talk up the chance of a
I posted this earlier: So, its only right I do something for the bulls now! WTI has risen quickly from lows under $99 to hit just over $101: Apart from what has been posted there is little fresh news. The China CPI data indicates the People’s Bank of China has plenty of room to add
May 11: Oil edged lower in early Asian trade on Wednesday, sustaining the previous session’s weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1%, at $101.60 a barrel by 0002 GMT.
The markets are still staying in overall risk-off mode this week so far, with selloff in stocks, gold, oil and cryptos. Commodity currencies are trading broadly lower as as result, led by Aussie. Dollar and Yen are generally firmer, but they’re outshone by the surprisingly resilient Euro, and to a lesser extent Sterling. Technically, with
The major US stock indices are rebounding higher after yesterday’s sharp declines. A snapshot of the major indices 12 minutes into the opening is showing: Dow industrial average up 383 points or 1.19% at 32629.33 S&P index up 55.92 points or 1.4% at 4047.15 NASDAQ index up 205.8 points or 1.77% at 11829.05 Russell 2000