News

Flash reading for June retail sales come in much, much lower than expected  -1.8 % m/m State of Victoria the worst at -3.5%, lockdown impact. NSW will be worse in July as its lockdown weighs, but in June wasn’t great at -2% — Background to this is here: Invest in yourself. See our forex education

New Delhi: Gold in the national capital on Tuesday gained Rs 253 to Rs 47,100 per 10 gram amid supportive global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,847 per 10 grams. Silver slipped Rs 61 to Rs 65,730 per kilogram from Rs 65,791 per kilogram

ECB’s conclusion of the strategy review on July 8 has made this week’s meeting very important. Policymakers adjusted the inflation target to a symmetric 2%, allowing a temporary overshoot. Despite the significant change, no monetary policy is expected to change in July. We only expect some changes in the forward guidance, in reflection of the

Fresh lows in rates US rates are at the lows of the day, edging through 1.16% as some risk aversion creeps into markets. The building permits data was on the soft side but I suspect this is more follow through from yesterday. In FX, the euro tested yesterday’s low at 1.1765 but held it on

NEW DELHI: Gold moved higher on Tuesday, recovering from the scars of previous session, as rising Delta virus threat spooked investors. Both precious metals posted decent gains on . Gold futures on MCX were up 0.38 per cent or Rs 184 at Rs 48,278 per 10 grams. Silver futures gained 0.29 per cent or Rs

Overall market sentiments stabilized in Asia, after the massive risk-off trades in the US overnight. While Asia indexes are still down, losses are limited. Yen and Swiss franc are paring some gains but remain the overwhelmingly strongest ones. Commodity currencies are the weakest as led by Canadian Dollar. Dollar and Euro are mixed for now,

An update on the lockdown on Australia’s largest city of Sydney. new cases reported for the previous 24 hours are 78. Since the park of 112 a little over a week ago, numbers daily: 89, 97, 65, 97, 111, 105, 98, 78 Such a result is unlikely to have the local lockdown ending soon but

New Delhi: Gold in the national capital on Monday dipped Rs 126 to Rs 46,967 per 10 gram in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,093 per 10 grams. Silver also went lower by Rs 97 to

Yen and Swiss Franc dominates the markets for the day, as selloff in stocks spread from Asia to Europe, to US. Risk aversion intensified with DOW down over -800 pts in initial trading, while 10-year yield breaks1.2 handle. Canadian Dollar is the worst performing one, as WTI crude oil breaks below 70 handle. However, Australian

Futures point to an ugly day Last week’s pain is turning into an extended rout. S&P 500 futures are down 53 points just ahead of the open with Dow futures down 518 and Nasdaq futures 134 points underwater. Economic data is light today with only the NAHB home builder survey due at the top of

NEW DELHI: Gold edged up on Monday, following the global trend, as rising delta virus threat spooked investors, nudging a return to the traditional safe haven. However, silver traded lower on . A surge in coronavirus cases could dampen global economic recovery, but the up move in dollar capped the gains of yellow metal. Gold

Yen rises broadly as the markets start the week with risk aversion in Asia. On the other hand, Canadian Dollar is trading as the weakest, leading other commodity currencies lower. European majors are mixed together with Dollar for the moment. The economic calendar is rather light today and focuses will stay on development in the

Emini futures (S&P, Nas) are falling in Globex trade. In the FX space a bid for the USD is sapping AUD, NZD, EUR and others.  After the Weekend OPE+ agreement (to increase output) oil is trading lower also.  The moves are all still fairly minor (although oil is off circa 1%) but its not a

MOSCOW/DUBAI/LONDON: OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 to overcome differences between Saudi Arabia

CFTC positioning data One of the big theories on the drop in Treasury yields in the past month or so is that it was a big squeeze on shorts. If so, it might be over. The just-released CFTC data shows that 10-year futures positioning is now a net long of 55,987 contracts compared to a

Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industries at home. “If you’d asked me six months ago

Oil production output levels are on the agenda for this weekend meeting following last week’s agreement between Saudi Arabia and the United Arab Emirates: The previous OPEC+ meeting finished, after being extended for 3 days to try to reach a resolution, without an agreement. The differences boiled down to the United Arab Emirates seeking an increase in

Fuel consumers may get some respite from rising prices of petrol and diesel as global oil scenario is expected to soften down in the coming days with oil cartel OPEC reaching an agreement to raise production to meet the growing demand. The increase in Covid cases globally have made the oil market uncertain as it