One of the chief risks to 2022 continues to be wide-spread China lockdowns putting a renewed strain on global supply chains. Cases in Hong Kong are totally out of control and outbreaks are growing in the mainland. China today reported 1524 locally transmitted cases, up from 1100 a day earlier a a couple hundred last
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National Stock Exchange of India (NSE) and India Bullion and Jewelers Association Ltd (IBJA) have come together to launch the domestic bullion spot exchange as per SEBI guidelines. India is the second largest consumer of gold, and it is first time that a domestic bullion spot exchange is being set up under the aegis of
The financial markets should have completed the first climax reaction to Russia to Ukraine. Both oil prices and gold spiked higher initially last week but pulled back since then. Stocks, in particular major European indexes, also staged a strong rebound after initial dive. Global benchmark treasury yields also rebounded. In the currency markets, Euro also
The market in the North American session took a breather from the geopolitical news from Ukraine early on, to focus on the Canadian jobs report for February. Most of the time, Canada and the US release their jobs report on the same first Friday of the calendar month. However because of calendar nuances, there are
Power producers said this would substantially raise power tariffs, particularly the spot prices, while coal companies said the coal being bought is meant for merchant plants, which sell power on the exchange and account for only a small portion of India‘s total electricity generation. According to people in the know, in spot auctions held by
Overall market sentiment is steady today. Major European indexes are trading slightly in black, together with US futures. WTI oil rebounds on news that US President Joe Biden is set to announce ban of Russian oil imports as soon as today. Gold is extending recent rise after brief consolidation, with aim to have a test
The G7 is saying: It is prepared to take further measures to hold Russia’s Putin accountable for attack on Ukraine It will work to preserve stability of energy markets as well as food security It will ensure Russia and its elites, proxies and oligarchs cannot leverage digital assets to avoid impact of international sanctions It
March 11: Gold prices were set for a second weekly gain as talks between Russia and Ukraine made little apparent progress, although bullion saw a dip on Friday as elevated U.S. Treasury yields on the back of inflation data assuaged its safe-haven appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,992.94 per ounce, as
Canadian Dollar surges sharply after employment data blows past expectations. Sterling and Euro are firm slightly firmer but there is no clear upside momentum. On the other hand, selloff in Yen is still persisting. Dollar is mixed for now. In other markets, Gold is extending the pull back and it’s threatening 1960 minor support. WTI
China’s cyberspace has been targeted by continuous attacks since late February Overseas actors took control of China computers to carry out cyber attacks against Russia, Ukraine, Belarus Most of the attacks came from the US It isn’t much but it is just part of the typical geopolitical sniping of one another between China and the
NEW DELHI: Gold prices were trading lower on Friday but were set for second weekly gain as talks between Russia and Ukraine made little apparent progress. The safe-haven metal pulled back about 3 per cent in the previous session, its worst daily decline since January 2021 – snapping a rally that took it near the
Yen is under some broad based pressure in Asia session despite some mild risk aversion sentiment. BoJ is clear to lag behind other major central bank in raising interest rates, due to the still underperforming inflation. Rally in global treasury yields is also weighing on the Japanese currency. Euro is maintaining this week’s recovery, but
Russia today announced retaliation against some western sanctions in announcing that telecom, medical, auto, agricultural, electrical and tech equipment, as well as many forestry products, will be banned until the end of the year. The details of these measures will be important but grains are particularly notable because the global market for food is tight
MELBOURNE: Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $3.10, or 2.8%, at $114.24 a barrel at 0419
Euro’s rebound stalls after ECB policy announcement, mainly because risk markets turned softer again. Another round of negotiations between Russia and Ukraine failed and Russia will clearly continue its attack. Dollar is trading slightly higher after CPI came in expected, extending its run on making multi-decade high. Though, as for the day, Aussie is leading
The lead into the Asia session: Forexlive Americas FX news wrap: Huge turnaround in ‘war’ trades Yesterday we had an official from the Bank of Japan warn on rising inflation. Today we had another official there pointing out that import prices (yen-based index of) were at their highest since 2008. Once again today the FX
NEW DELHI: Gold prices pulled back after a nearly 3 per cent rise in the previous session, snapping a rally that took it near the August 2020 all-time highs. The yellow metal witnessed selling on easing worries over the Russia-Ukraine conflict with signs of a possible diplomatic solution. Gold futures on MCX were trading lower
Yen and Swiss Franc are both under selling pressure following the strong rebound in global stock markets. While it’s too early to conclude that risk appetite has returned from the shadow of Russia invasion of Ukraine, at least, the initial shock seemed to be digested well already. Euro is staging a strong rebound as traders