Overall markets are mixed today, as Dollar is digesting some of last week’s gains, awaiting more guidance from FOMC members regarding tapering. New Zealand and Canadian Dollar are the stronger ones for now. But Australian Dollar is among the weakest together with Euro and Swiss France. Yen and Sterling is slightly firmer. Gold and silver
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Richmond Fed president Barkin speaking Demand does not yet seem indented by Delta variant Demand for labor continues to outpace supply of people willing to work Current pressure on wages is intense at lower levels of the pay scale The inflation expectations near target support idea that recent inflation rates are temporary On price said Fed
New Delhi: Gold in the national capital on Monday dipped Rs 317 to Rs 45,391 per 10 grams, in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, gold closed at Rs 45,708 per 10 grams. Silver also tumbled Rs 1,128 to Rs 62,572 per kg, from
While the currency markets are rather quite, big surprise is found in gold price, which smashed to as low as 1684, hitting the lowest level since March. Silver also tumbled to as an eight-month low of 22.5. The move was, for certain, exaggerated by the ultra thin Asian morning. Yet, the near term bearishness is
The National Australia Bank Business Survey for July Business Confidence expected 15, prior 11 the drop in June was 9 points from May, its biggest in 11 months Business Conditions expected 10, prior 24 the drop in June (largest fall in 14 months) was from a record might in May (at 36) As noted above,
Dollar soared towards the end of the week as the stellar job report should give Fed much confidence to start tapering later in the year. Reactions from stock markets and yields were also positive, with DOW and S&P closing at new records while 10-year yield rebounded. Together with the steep fall in gold, overall development
A Saturday vote in the US Senate, 67-27 vote in favour of a move to limit debate on the legislation 18 of the 50 Senate Republicans voted in favour this is a procedural agreement, not approval of the actual bill Negotiations continue on amendments and there are some pundits suggesting work on the legislation could be
The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of
In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7% China’s trade surplus with the United States ( Reuters calculation) $35.4
NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came under pressure as the dollar strengthened after monthly US job growth
Despite recovery, crude oil prices are prone to record the first decline in 3 weeks. The sharp selloff earlier in the week is a result of a confluence of factors including resurgence of the pandemic in the US and China, China’s economic slowdown and OPEC+’s plan to increase output. The rapid spread of the delta
The Chinese trade data for July 2021 will be released on Saturday (China time). I was expecting it on Friday (yesterday), nope. In USD terms: Trade balance: expected $51.54bn, prior was $51.5bn Exports: expected +20.8% y/y, prior +32.2% (global demand outweighed shipping delays in June for a strong result) Imports: expected +33.0% y/y, prior was
Dollar jumps sharply in early US session after stronger than expected non-farm payroll data. If job growth could sustain at current page in August, more FOMC members would be ready to call for tapering in Q4. Euro, Swiss Franc and Yen are the most responsive to Dollar buying so far. Sterling is staying resilient. Meanwhile,
Pres. Biden: New Delta wave of Covid 19 will be very different to deal w/ given vaccinations Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Pres. Biden speaking Jobs data proves that his approach to the economy is working Says his comments are not one of celebration. There is
NEW DELHI: Gold prices slipped lower on Friday in domestic markets, following the global footsteps. The US dollar held firm as more Federal Reserve officials signalled the possibility of a sooner-than-expected policy tightening. Gold futures on were down 0.22 per cent or Rs 105 at Rs 47,498 per 10 grams. Silver futures traded 0.39 per
Dollar is trying to extend this week’s recovery in Asian session, as focus turns to non-farm payrolls reports. Whether Fed would start tapering asset purchases by the end of the year, or earlier, would very much depend on the job data in Q3. Elsewhere, Aussie is trading a touch softer after dovish comments from RBA