NEW DELHI: Bucking global trends, gold and silver futures rose on Wednesday. Gains were, however, limited by a rise in the dollar and US Treasury yields on growing expectations of an earlier-than-anticipated interest rate liftoff. The dollar index hovered near a more than 10-month high touched on Tuesday. The benchmark US 10-year Treasury yields held
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Sterling tumbles broadly today on increasing talks of energy shortages due to a post-Brexit shortage of truck drivers, as well as a halt to license testing during pandemic lockdowns. Mild risk aversion, which start in European markets, is also weighing down some commodity currencies. Nevertheless, there is little lift to Yen overall, which stays weak
Japanese PM Suga is stepping down. His party chooses a new leader today. Lead contenders are: former party policy chief Fumio Kishida head of Japan’s vaccination drive Taro Kono Also in the running: former Internal Affairs and Communications Minister Sanae Takaichi the LDP’s executive acting secretary-general Seiko Noda The LDP vote is today, Wednesday 29 September
Mumbai: National Commodity and Derivatives Exchange (NCDEX) on Tuesday said it has migrated its live trade data centre to Yotta Infrastructure Solutions. The partnership with Yotta has made NCDEX the country’s first and only exchange to operate from an Uptime-certified Tier-IV data centre, the commodity exchange said in a statement. “We are excited to partner
Strong rally in treasury yields is currently the main theme driving the markets. On the back on hawkish Fed rhetorics, 2-year yield rose to 18-month high, above 0.3%. Benchmark 10-year yield also breaks above 1.5% handle. Yen is currently the worst performing one, with persistent selling pressure. Euro and Swiss Franc are also weak. On
There aren’t enough drivers to cover the shortfall in transportation/shipping The British Retailers Consortium is warning that the public may face an impending Christmas disappointment this year as businesses will not be able to have sufficient inventory to meet demand, urging for the government to take action. The consortium is calling for lawmakers to rapidly
TOKYO: Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas (LNG) and coal also lent support. Brent crude futures gained $1.05, or 1.3%, to $80.58 a barrel at 0645 GMT, after reaching its highest since October 2018 at $80.75 earlier
European gas price has kept breaking new records over the past months. Both higher-than-usual demand and supply shortage have led to the price strength. As winter is approaching, we expect price to remain at elevated levels in the months to come. The front-month Dutch TTF gas contract has remained firm after breaking above EUR 70/MWh.
Forex news for North American trading on September 27, 2021 There were a number of Fed officials speaking today and two that announced their retirement. The ones that spoke (Evans, Williams, Brianard) spoke specifically to rate changes not being anytime soon. Evans said that he sees one rate hike in 2023, Brainard said that no liftoff signal should be taken from
NEW DELHI: If you thought equities are a breakout story this year, then you may have missed the real money-making opportunity. There is one commodity that has come out of stupor and shocked everyone with the ferocity of its rally. That counter is natural gas. Natural gas spot prices have more than doubled since early
Canadian Dollar leads commodity currencies higher in Asian session, with help from extended rally in oil price. Overall sentiment is mixed though and Yen is trying to pare back some of last week’s losses. Some weakness in seen in both European majors and Dollar but movements in respective pairs are limited. Euro is also stuck
Latest data released by the SNB – 27 September 2021 Domestic sight deposits CHF 636.0 bn vs CHF 636.0 bn prior Prior week’s release can be found here. Little change in terms of overall sight deposits and that once again reaffirms that the SNB is still taking their foot off the pedal for the time
NEW DELHI: Gold and silver futures rose on Monday as persistent concerns over the fate of debt-laden property giant China Evergrande and its broader impact bolstered the precious metal’s safe-haven appeal. Evergrande missed a payment on offshore bonds last week, with further payment due this week. This sent shivers down the spine of equity investors
The Fed turned more hawkish in September, with the first rate hike pushed forward to 2022. Fed Chair Jerome Powell indicated that QE tapering will come “soon”. The staff downgraded the GDP growth forecast for this year, but revised higher that for 2022 and 2023. Inflation projections were revised higher all the way through to
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On Sunday, the diesel price was raised by 25 paise per litre, marking the second hike in rates after state-owned oil corporations abandoned a three-week rate freeze after worldwide oil prices surged to their highest level since 2018. According to a price statement from state-owned fuel dealers, the price of diesel has been raised to
What are the major economic releases and events for next week Sunday, September 26: German federal elections Monday, September 27: ECB Lagarde speak. 7:45 AM FOMC member Evans speaks, 8 AM ET US durable goods orders, 8:30 AM ET. Estimate 0.7% versus -0.1% last month FOMC Williams speaks, 12 PM ET FOMC Brainard speaks, 12:15 PM ET BOE Gov. Bailey speaks, 2 PM ET Tuesday,