Falling to the weakest level since August, USDCAD was the worst performer amongst majors (CAD best performer against USD). Loonie’s rebound was driven by energy prices and strong job data. Elevated inflation also has again heightened speculations about BOC’s rate hike. The major driver of loonie’s strength was energy price. Crude oil price rallied as
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Yen continues to soften The yen is hitting new lows as higher energy prices inspire a fresh rotation into reflation trades. In Friday’s wrap I highlighted the AUD/JPY chart and the potential for a break above the September high. That’s exactly what we got today as that move follows earlier breakouts in CAD/JPY and USD/JPY.
New Delhi: Gold in the national capital on Monday fell Rs 59 to Rs 46,038 per 10 grams amid weak international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,097 per 10 grams. Silver also tumbled Rs 196 to Rs 60,369 per kg, from Rs
New Zealand Dollar trades mildly lower together with commodity currencies in quiet Asian session. Overall markets are mixed as Japan and Hong Kong stocks head lower, decoupling from the strong rebound in the US overnight. Dollar appears to be supported by the rise in treasury yields, with 10-year yield back above 1.5 handle. Yen is
An extract from ABN Amro on gold, analysts looking for USD1700 by the end of this year and USD1500 at end 2022. Citing 3 reasons. 1. Tighter global monetary policy ahead: Fed to start hiking early 2023 Bank of England and Bank of Canada to probably hike before then ECB, Bank of Japan, Reserve Bank
NEW DELHI: Gold prices edged higher on Friday but were stuck in a narrow range. Investors moved to the sidelines ahead of a US payrolls report that is expected to provide clues on the Federal Reserve’s tapering timeline. Gold futures on MCX were higher 0.16 per cent, or Rs 75, at Rs 46,902 per 10
Yen was once again sold off broadly last week, following late rally in treasury yields despite disappointing US job report. Resilience in overall risk appetite also kept the Japanese currency pressured. Meanwhile, Euro followed as as distant second worst on selloff in crosses, as well as Dollar. New Zealand Dollar’s weakness was a surprise as
This of course follows along from the stink caused by Australia agreeing to buy US nuclear submarines and tear up its contract with France for diesel subs. Part of the new AUKUS agreement. US to sell 12 Sikorsky Romeo Seahawk helicopters to Australia will eventually replace the Australian Navy’s 6 Airbus-made MRH-90s Australia’s navy already
Petrol and diesel prices were hiked across India for the sixth consecutive day on Sunday. In Delhi, the petrol prices were hiked by 30 paise per litre, taking it to Rs 104.14, while diesel prices in the national capital have gone up to Rs 92.82 per litre with the hike in price by Rs 0.35.
China has flagged banning private capital from news reporting and distribution. Part of China’s crackdown on … everything? The National Development and Reform Commission of the People’s Republic of China (NDRC) published a proposal late Friday: Seeking to bar private investments in the establishment and operation of news outlets also will not be permitted to
New Delhi: Gold in the national capital on Friday rose Rs 50 to Rs 45,959 per 10 grams amid gain in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,909 per 10 grams. Silver in contrast dipped by Rs 922 to
It’s Columbus day in the US and Thanksgiving in Canada Monday is a semi-holiday in the US — Columbus day — so that will crimp activity. The CME and NYSE are open and SIFMA doesn’t recommend a bond closure. However there is no economic data on the schedule so that could keep it quiet. In
Petrol and diesel prices were hiked across the country for the fifth consecutive day on Saturday, ranging from 26 paise to 35 paise. In Delhi, the petrol price was hiked by 30 paise per litre, taking it to Rs 104.23. In Kolkata, the price of diesel as of Saturday is 95.58 per litre, up by
Following strong rally in US stocks and treasury yield overnight, Yen is trading broadly lower today, together with Swiss Franc. Yen is also the worst performing one for the week, followed by Euro. On the other hand, Canadian Dollar is the winner for the week, followed by Aussie. Focus will turn to US job data
Forex news for North American trade on Friday, October 8: Markets: Gold up $1 to $1756 US 10-year yields up 3.6 bps to 1.606% WTI crude oil up $1.19 to $79.49 S&P 500 down 8 points to 4391 CAD leads, JPY lags The jobs report put a focus on the US dollar and the initial
Physical gold rates in India flipped to a discount for the first time in over two months this week as a rise in local prices curbed demand, while buying in China was expected to pick up after the Golden Week holiday. Dealers in India offered discounts of up to $2 an ounce over official domestic