NEW DELHI: Gold prices were trading flat with a positive bias on Tuesday, tracking a fall in the US treasury yields. However, a strong US dollar capped gains for the yellow metal. Benchmark 10-year US Treasury yields extended their decline on Tuesday after pulling back from the highest level in 3.5 years in the previous
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Risk sentiment stabilizes today with rebound in major European stocks while US futures also point to higher open. Selloff in commodity currencies slow a bit but they remain the worst performers, led by Aussie. Yen, Euro and Dollar are the stronger ones, and they’re mixed against each other. Sterling and Swiss Franc are also consolidating
National Australia Bank Business Survey for April 2022 Business confidence: 10 Business conditions 20 (up well from March. Conditions is a more objective measure than the sentiment-based confidence) Some of the sub-measures sales +4 to a very high +27 profitability +10 points to +22 employment index steady at +10 NAB comments: “Pleasingly, the improvement was
NEW DELHI: Gold prices dropped marginally on Monday as a strong dollar dented the demand for the yellow metal. The rise in Treasury yields also hit sentiments. The dollar firmed to 20-year highs against its rivals, making greenback-priced bullion less attractive for other currency holders, whereas the Indian currency hit a new lifetime low at
Markets open the week with risk-off sentiment, in particular in Japan. Australian and New Zealand Dollar are trading broadly lower as a result. On the other hand, Dollar is rising broadly. European majors are mixed together with Yen and Canadian. Technically, however, bother EUR/USD and USD/JPY are still bounded in established range even though Dollar
Markets don’t bottom on Fridays. That’s what we’re seeing today with the S&P 500 opening down 60 points to 4058, a 1.6% drop after five consecutive weeks of losses. I’m noticing the tone around risk assets is deteriorating. The talk in the market shows that the bulls have been vanquished. There’s a realization that it
New Delhi: Gold prices have been on a downtrend as rising interest rates are pushing the bond yields higher, diminishing the appeal of the yellow metal. After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not
Risk aversion is the theme of the day, with major European indexes trading in red, while US futures are also diving. Australian Dollar is leading other commodity currencies lower. While Dollar is firm, it’s losing some momentum entering into US session. In particular, the greenback is retreating after failing to break through a near term
Labour total cash earnings +1.2% y/y expected -0.3%, prior +1.2% Adjusting for inflation gives ‘real’ wages, which dropped 0.2%. This is the first fall for real wages in 3 months. USD/JPY not doing a lot in response to the data. Japanese data rarely shoves the forex around much upon release: USD/JPY 15 minute candles: ADVERTISEMENT
Oil prices edged higher on Thursday, extending gains from the previous session, as a European Union proposal for new sanctions against Russia, including an embargo on crude in six months, offset concerns over Chinese demand. Brent crude futures had climbed 35 cents, or 0.3%, to $110.49 a barrel by 0209 GMT, while U.S. West Texas
Week ago today, the month of April ended with the NASDAQ index down over 13%. The market rallied on Monday, Tuesday, and Wednesday getting the month of May off to a good start. However yesterday’s sharp declines, and follow through selling today push the major indices lower on week. In other words the markets snatched
May 6: Gold prices edged lower on Friday and looked set to fall for a third straight week, weighed down by a robust dollar and rising yields, while investors await the U.S. jobs report to assess its impact on monetary policy. FUNDAMENTALS * Spot gold fell 0.4% to $1,869.26 per ounce, as of 0137 GMT,
The ongoing saga of the attempt to restart talks to revive Iran’s 2015 nuclear deal with world powers in … still ongoing. A couple of weekend updates. The Financial Times reported the EU’s foreign policy chief Josep Borrell told the news outlet that he was seeking a “middle way” to end the impasse Aljazeera have
It was a week that belonged to central banks and amid increased volatility in financial markets, the US dollar emerged as the clear winner. Continuing investor flow towards the US dollar pressurized not just gold but commodities at large. The US dollar index slumped immediately post the US Fed decision but witnessed a sharp rebound
Shanghai officials today said the covid outbreak was under ‘effective control’ on Friday and that cases have been on a ‘continuous downward trend’ since April 22. The city has been under lockdown since April 1 and there’s no visibility to when that will end. About 2.3m people are in sealed-off areas while 16.7m are in
Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. This week, we saw crude oil prices jump by almost around 10% from Monday’s low in both international as well as
While RBA, Fed and BoE announced rate hikes last week, the impacts and reactions were rather delivered. RBA’s larger than expected hike was well received and helped Aussie secured the first place, even though it pared back much gains on risk-aversion. On the other hand, BoE’s announcement was considered dovish, with warning of recession, and
Markets: Gold up $7 to $1883 WTI crude up $2.34 to $110.60 US 10-year yields up 5 bps to 3.12% EUR leads, CAD lags S&P 500 down 23 points to 4123 — first streak of 5 weekly losses since 2011 The non-farm payrolls report was right down the fairway. Jobs were a bit high but