The forex markets trade in tight range in Asian session today. New Zealand Dollar got little support from the RBNZ 50bps rate hike. It’s actually trading as the weakest one for the day at the time of writing. As for the week, Swiss Franc is currently the strongest, with help from buying against Euro. Dollar
News
The three major US stock indices are closing lower on the day after giving up a solid gains. The NASDAQ index was up over 2% at its highs. The S&P index was up 1.34%. The NASDAQ and S&P are closing lower for the third consecutive day The small-cap Russell 2000 index did eek out a
LONDON – OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia’s invasion of Ukraine, rising inflation as crude prices soar and the resurgence of the Omicron coronavirus variant in China. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world demand
Dollar drops in early US session together with treasury yields after consumer inflation data. While headline CPI came in higher than expected, core CPI’s pick up missed expectations. Commodity currencies are trading generally higher as US futures point to a rebound in major stock indexes. European majors are also attempting a recovery but momentum is
USD/JPY is still the main pair to watch and it is trading up 0.2% to 125.60 levels, with the high having touched 125.75 at the start of the session. Buyers are keeping a break above 125.00 and that remains the key level to watch on the week. US consumer inflation data later on will be
NEW DELHI: Bucking global trends, gold prices were trading higher in the domestic market amid rising inflationary worries and recession fears across the globe. However, the rising US treasury yields and firm dollar kept a check on the gains of the yellow metal. Markets are keenly awaiting US inflation data, which would help investors get
Dollar turned a bit mixed in Asian session as markets await consumer inflation data from the US today. The greenback is losing some momentum against Yen as it’s pressing a long term resistance level at 125.85. Meanwhile, it ticks down against European majors, which are recovering. On the other hand, Dollar is extending rebound against
Business confidence/conditions from both New Zealand and Australia today. From NZ, at 2200 GMT is the NZ NZIER Quarterly Survey of Business Opinion For Q1 2022 The Q4 2021 survey showed business confidence and indicators of trading activity continuing to fall rapidly. This survey for the March quarter is not expected to show much improvement.
New Delhi: Sebi on Monday came out with a new framework for evaluating risk level of commodities — gold and gold- related instruments — in which mutual funds are permitted to invest on risk-o-meter. In a circular, the markets regulator said it has been decided that investment in such commodities by the mutual fund schemes
Yen’s selloff intensifies today, following extended rally in major benchmark treasury yields. US 10-year yields breaks 2.75% handle for the first time since March2 019. Germany 10-year bund yield also breaches 0.8% handle. On the other hand, Japan 10-year JGB yield is staying comfortably below BoJ’s 0.25% cap. Euro and Dollar are currently the strongest
The Easter holiday is in sight and that means we will see a shorter trading week for Europe (as well as Australia and New Zealand) with Good Friday being observed on 15 April and Easter Monday being observed on 18 April. Just a bit of a reminder that the usual holiday caveats will apply, in
NEW DELHI: Gold prices were trading marginally higher on Monday as Russia’s attacks in eastern Ukraine lent some support to the safe-haven metal. However, firm dollar and Treasury yields capped the upside. Gold futures on MCX inched up 0.08 per cent or Rs 44 down to Rs 52,115 per 10 grams. Silver futures were trading
Yen is trading broadly lower in Asian session today. But commodity currencies are also soft on mild risk-off sentiment. On the other hand, Euro and Dollar are the stronger ones, while Sterling and Swiss Franc follow. UK data will be the main focus in European session while US calendar is empty. Nevertheless, more volatility is
New Delhi: India’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 33.34 per cent to $46.14 billion during the 2021-22 fiscal on account of higher demand, according to official data. Gold imports were worth $34.62 billion in 2020-21. The surge in gold imports during the last financial year
The strong US dollar bid from earlier in New York trade has reversed. The dollar managed to run some stops against the yen and pound but as yields cooled, so has the currency. At the same time, some dip buying in US equities helped to turn the mood. The S&P 500 fell to 4474 but
Stoxx 600 +1.2% German DAX+1.3% UK FTSE 100 +1.4% French CAC +1.3% Italy MIB +2.0% Spain IBEX +1.5% On the week: German DAX +0.5% UK FTSE 100 +1.6% French CAC -2.1% Italy MIB -1.5% Spain IBEX +1.4% French stocks lagged as Le Pen pulls nearly even with Macron ahead of the first round of Presidential
> EU Von Der Leyen: Zelensky says more sanctions are needed EUR Speaking on Ukraine Zelensky says more sanctions are needed It was right to spend Russia from UN human rights Council Ukraine to fight is our fight, EU is by Ukraine’s side We are mobilizing our economy to make Putin pay a very heavy
China reported a seventh consecutive day of record covid cases at 24,101 with 21,222 of those in Shanghai as the outbreak continues to spread. Mass testing is continuing and there’s no end in sight to a lockdown that was supposed to end April 5. Traffic at the airport is largely grounded and the world’s largest