Major pairs and crosses are bounded inside yesterday’s range so far, as quiet trading continues. Dollar is mildly lower but loss is very limited, while Swiss Franc might be picking up some buying again. Stock markets are also treading water in very tight range. Nevertheless, notable weakness is seen in treasury yields. In particular, US
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Domestic gold futures gave up initial gains on Tuesday but managed to hold the Rs 49,000 per 10 grams mark, as a stronger dollar overseas made the yellow metal less attractive for those holding other currencies. Investors awaited US inflation data for more clarity on interest rates in the world’s largest economy going forward. MCX
Trading continue to be relatively subdued this week so far. While Dollar weakened overnight, losses were very limited. The greenback is indeed recovering mildly in Asian session. Australian Dollar also received little lift from strong business conditions data. Gold breached 1900 handle, but lacks the conviction to extend near term rebound. WTI crude oil also
No new license plates being produced in Arizona The White House will be conducting meetings today to address supply chain issues. Along those lines, a local news story says due to a worldwide aluminum shortage, there is a temporary interruption the production of Arizona license plates. The license plates are produced through Arizona Correctional Industries, a branch of the Arizona Department of Corrections, rehabilitation and
LONDON: The London Metal Exchange said on Tuesday it will reopen its open outcry trading floor on Sept. 6, but added that it also believes electronic trading is the way forward. The floor was closed in March 2020 for the first time since World War II to allow for the social distancing needed to deal
Swiss Franc jumps broadly in otherwise quiet markets today. Canadian Dollar is second strongest, then Dollar, but both are staying inside yesterday’s ranges. Sterling is currently the worst performing one, followed by New Zealand Dollar and then Yen. But the selling in the two are far from being clear. In other markets, Gold has a
Forex news for Asia trading on Tuesday 8 June 2021 Biden’s national security adviser, Jake Sullivan spoke at a White House press briefing saying that BTC would be brought up at the G7 summit this coming weekend, perhaps by US President Biden himself, with a focus on getting an action plan on the increase in
NEW DELHI: Crude oil prices on Monday fell by Rs 25 to Rs 5,046 per barrel after the participants cut their positions. On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 25, or 0.49 per cent, to Rs 5,046 per barrel with a business volume of 9,860 lots. Analysts said
We expect the BOC to maintain its relatively hawkish outlook at this week’s meeting. Although economic data released since April have softened slightly, strong oil prices and the positive vaccination progress should allow the members to stay optimistic about the recovery outlook. They would also maintain the monetary policy stance as in April, sticking with
The stock has been halted and awaits being reopened The FDA has approved Biogen’s Alzheimer drug Aducanumab using an accelerated approval pathway. The FDA does require Biogen to conduct a postapproval clinical trial and said that they can take away the approval upon unfavorable results.
NEW DELHI: Gold declined by Rs 152 to Rs 48,107 per 10 gram in the national capital on Monday in line with weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,259 per 10 gram. Silver also tumbled Rs 540 to Rs 69,925 per kilogram from
The financial markets continue to be relatively mixed entering into US session. Aussie and Kiwi are currently the strongest one, together with Yen. On the other hand, Dollar and Euro are the weakest ones, together with Loonie. European indexes are trading mildly higher but upside is limited. Gold and oil are also struggling in tight
China trade balance for May: prior was CNY 276.5bn Exports y/y: +18.1% y/y prior was +22.2% Imports y/y: +39.5% y/y prior was +32.2% more to come — And, in USD terms China trade balance: $45.53bn expected $ 50.5bn, prior was $42.9bn Exports: +27.9% y/y expected +32.1%, prior +32.3% Imports: +51.1% y/y expected +51.5%, prior was
MUMBAI: The National Commodity and Derivatives Exchange (NCDEX) on Saturday said it has posted an over three-fold jump in its Average Daily Turnover Value (ADTV) at Rs 2,139 crore in May, compared to the same month last year. In May 2020, NCDEX had posted an ADTV of Rs 588 crore after a complete pan-India lockdown
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Yields drop today US 10-year yields are down 6.6 bps to 1.56% today to the lows of the day and the week. A fractionally lower dip would be the lowest close since April 22. Clearly the market is growing less worried about a taper and runaway inflation, but the mood of this market can shift
Oil is back on the boil after a small pause. In Mumbai, the price of petrol breached the Rs 101-a-litre mark at Rs 101.25 per litre. The fuel in the national capital crossed the Rs 95-per-litre mark. It is being sold for Rs 95.03 a litre, up from Rs 94.76 on Saturday. In Chennai and