Forex news for North American trading on June 18, 2021: Markets: Gold down $9 to $1764 US 10-year yields down 6.4 bps to 1.436% S&P 500 down 55 points to 4166 WTI crude up 62-cents to $71.66 JPY leads, NZD lags Bullard set the tone with some hawkish comments just as New York trade was
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Gold struggled for direction in choppy trading on Friday en route to its worst week in nine months as the resumed its rally while investors took stock of the US Federal Reserve‘s hawkish outlook. Spot gold edged 0.2% down to $1,770.60 per ounce by 10:28 a.m. EDT (1428 GMT), stalling an initial uptick on some
Dollar is consolidating some gains in Asia session today but remains overwhelmingly the strongest for the week. Yen is following closely as second best. Yet, there is no one-sided risk aversion in the markets to help Yen against Dollar. US stock indexes ended mixed overnight only, while Asian markets are trading in narrow range. Swiss
The Australian dollar was the laggard this week It was a big week in the FX market as the Fed flipped the script and turned hawkish. That caused an unwind in reflation trades and the commodity currencies were in the crosshairs. It speaks volumes that Australian added 115K jobs compared to 30K expected and it
LONDON: Oil prices fell for a second straight session on Friday as the US dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs. Brent crude futures were down 60 cents, or 0.8%, at $73.68
Sterling is among the worst performing currency for today, together with commodity currencies. Poor retail sales data from the UK is weighing on the Pound. Additionally, the resurgence in coronavirus infections, now due to the delta variant, in the UK is concerning. Daily new cases jumped above 11k, after average around 2k just a month
Latest data released by ONS – 18 June 2021 Prior +9.2% Retail sales +24.6% vs +29.3% y/y expected Prior +42.4% Retail sales ex autos, fuel -2.1% vs +1.4% m/m expected Prior +9.0% Retail sales ex autos, fuel +21.7% vs +27.1% y/y expected Prior +37.7% The monthly figures are a little underwhelming but there are still
MELBOURNE: Oil prices fell for a second consecutive day on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat – only slightly off multi-year highs. Brent crude futures were down 52 cents, or 0.7%, at $72.56 a
Dollar surges overnight after much hawkish than expected Fed interest rate projections. The case of near term bullish reversal continues to build up and there is prospect of further rally before weekend. Markets are relatively mixed elsewhere though. Australian Dollar is lifted by strong job data while New Zealand Dollar is supported by strong GDP.
So much for letting prices run hot The picture in the market is increasingly clear: Trades that benefit from inflation are reversing today in a big way. Commodities down Small caps down Treasury yields down Tech stocks higher Gold down Yen up It’s exactly what you would expect to see on the reflation trade unwinding.
NEW DELHI: Domestic gold futures tanked by more than Rs 1,600 on Thursday mirroring losses in global benchmarks, as the dollar and US bond yields surged after the US central bank’s projection of earlier-than-expected rate hikes. The August 5 contract of the yellow metal on MCX fell as much as 3.38 per cent or Rs
Dollar’s post-FOMC strength continues to overwhelm the markets today. Though, Yen is also catching up as US futures point to a weak open. Selling in commodity Yen crosses is also helping the Japanese currency. Swiss Franc is currently the worst performing, as SNB sounded it’s fully in inertia despite better growth and inflation outlook. Kiwi
The 7-day incidence rate falls further to 11.6 The signs continue to point to an improving virus situation in Germany ahead of the summer, with total active cases easing further to ~34,100. That will likely spur looser restrictions ahead of the busy travel period next month through to September with perhaps a relook at the
SINGAPORE: Crude oil prices fell on Thursday pressured by a stronger U.S. dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer. Brent crude oil futures dropped by 74 cents, or 1%, to $73.65 a barrel by 0103 GMT after reaching its highest
The Fed has turned more hawkish at the June meeting. Besides significant upgrades in the GDP growth and inflation forecasts, the median dot plots now project two rate hikes in 2023, compared with no rate hike until 2024. At the press conference, Fed chair Jerome Powell indicated that the members have started talking about tapering.
Biden comments after meeting with Putin We discussed in detail the next steps on arms control measures He told Putin that critical infrastructure should be off limits We agreed to ask experts to work on specific understandings about what’s off limits on cyber Says meeting with Putin was pretty straightforward. Tone was good and positive
Domestic gold rates moved higher on Wednesday as equities retreated from record levels ahead of the release of the US central bank’s policy statement following a two-day meeting. Market participants keenly watched out for any signs of early tapering of stimulus in the world’s largest economy. MCX gold futures rose by Rs 140 to Rs
Dollar softens quite notably in early US session as markets await FOMC rate decision. Though, Swiss Franc and Euro appear to be slightly weaker. On the other hand, Kiwi and Aussie are strengthening mildly but Canadian Dollar shrugs off stronger than expected consumer inflation data. Sterling also firms up mildly earlier today, but lacks follow