NEW DELHI: Gold prices inched higher on Monday as the US dollar eased and tamer-than-expected US inflation data allayed fears of an early monetary policy tightening by the Federal Reserve. The yellow metal remained firm with mild gains in the domestic market. US consumer spending paused in May, while the personal consumption expenditures price index,
News
Yen trades mildly higher in quiet Asia today, while trading is also subdued in other markets. Sterling is trying to recover some of last week’s losses, but momentum is relatively limited. On the other hand, Swiss Franc and Euro are turning softer, partly due to retreat in crosses against the Pound. Overall, the economic calendar
Comparisons with 2020 are, of course, showing large base effects due to pandemic impacts a year ago. Nevertheless – the surging price of raw materials is acting as a bit of a brake on magins and thus reported profitability. Later this week we begin to get more recent data for the sector with PMIs from
Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
Canadian election coming Trudeau is riding high with Canada’s vaccine rollout amongst the best in the world. The country leads the world in first doses delivered and cases have fallen dramatically in the last month or so. Trudeau is aiming to parlay that result into a majority government. He currently governs with a loose minority
Gold prices held steady on Friday as investors awaited US inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. FUNDAMENTALSSpot gold was flat at $1,773.52 per ounce by 0104 GMT. Prices have risen 0.6% so far this week. US gold futures eased 0.2% to
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
Forex news for New York trade on June 25, 2021: Markets S&P 500 up 14 points to 4280 US 10-year yields up 3 bps to 1.52% WTI crude up 69-cents to $73.99 Gold up $4 to $1779 CAD leads, GBP lags The PCE report was the focus of the session and inflation fears were running
NEW DELHI: Gold in the national capital on Friday dipped marginally by Rs 66 to Rs 46,309 per 10 gram, according to HDFC Securities. The precious metal had closed at Rs 46,375 per 10 gram in the previous trade. In contrast, silver jumped Rs 332 to Rs 67,248 per kilogram from Rs 66,916 per kilogram
Yen and Dollar ended the week as the worst performing ones, as US stock markets came back with strong rally. Risk-on sentiments pushed commodity currencies broadly higher. Yet, Yen crosses are also held below recent highs despite the rebounds. Dollar’s pull back was also relatively weak. Some more time is needed to determine if they’re
Been great to be with you all this week as Justin takes some well deserved time away. I haven’t quite done yet as I wanted to drop in with the latest central bank update. Taking a step back the feel I am getting is that CB’s are thinking about thinking about tightening. The ones that
Gold rose on Friday after sombre U.S. inflation data tempered bets for early monetary policy tightening by the Federal Reserve, setting bullion on track for its first weekly gain in four. Spot gold gained 0.4% to $1,782.46 per ounce at 10:53 a.m. EDT (1453 GMT), adding over 1% for the week thus far. U.S. gold
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -5.81 mmb to 1282.86 mmb in the week ended June 18. Crude oil inventory slumped -7.61 mmb (consensus: -3.94 mmb) to 459.06 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf
Classic risk-positive trade wins out The top performing G10 currencies this week were NZD, AUD and CAD, in that order. At the bottom of the list were JPY, USD and CHF. That’s a classic risk-positive trade setup that has been underlined by the selloff in bonds and the best week for US equities since April.
LONDON: Copper prices held steady on Friday after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal valued at $1.2 trillion over eight years, which helped reinforce expectations of stronger demand. However, worries about the U.S. Federal Reserve tightening monetary policy sooner than expected subdued some of the optimism and weighed on copper prices
Dollar weakens in early US session, in particular against Yen. PCE inflation showed notable acceleration in May but fell short of expectations slightly. Nevertheless, Sterling is the worst performing ones for today, extending post BoE selloff. The Pound is also pressured by uncertainties over resurgence of coronavirus infections. Commodity currencies are the strongest, as US
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do