The forex markets are staying in mixed consolidative mode in Asian session. Australian Dollar trades mildly higher following strong, record making, export data. But that’s offset by Melbourne’s return to pandemic restriction, on masks and gatherings. Dollar turns weaker as Asian stocks rebound, together with Yen and Canadian. European majors are generally firm. Technically, focus
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NEW YORK: Oil prices rose on Monday as a demand bump fueled by COVID-19 vaccination drives gave traders optimism that the market can absorb any Iranian oil that would come on the market if Western talks with Tehran lead to the lifting of sanctions. Prices also got a boost on expectations that a new deal
Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
A quiet start so far but the market may still be left searching for answers by the time we start moving towards June A holiday in most parts of Europe is making for subdued tones so far on the session with little change all around in the market. As things stand, the inflation debate is
NEW DELHI: Crude oil prices rose Rs 75 to Rs 4,734 per barrel on Monday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 75, or 1.61 per cent, at Rs 4,734 per barrel in 5,717 lots. Analysts said
Economic data released since the last meeting have continued to improve. We expect the RBNZ to upgrade economic assessments at the upcoming meeting, acknowledging recent positive developments. Yet, policymakers would continue to attribute the spike in inflation to temporary factors. All monetary policy measures will remain intact. The job market has continued to improve. The
FX performance this week The US dollar is holding near the highs of the day with US equities now back to flat. The market did not like the strong Markit report because it could bring tapering closer. I don’t share that belief because the Fed wants to look through the reopening boom and because a
NEW DELHI: Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran. India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some
The minutes for the FOMC meeting in April revealed that policymakers discussed about QE tapering. This came in as a surprise to the market, sending USD higher and Treasury lower. Both the policy statement and the press conference of the April meeting downplayed the need of QE tapering. Recall that at the press conference, Chair
Press Sec. Psaki Pres. Biden meeting this afternoon with GOP on infrastructure Put forth a reasonable counteroffer WH offered a counter proposal on infrastructure from $2.25 trillion to $1.7 trillion Counteroffer reflects the view that Republican offer excludes proposals that are key to US growth Pres. Biden remains opposed to gas tax, user fees, raising taxes on
Domestic gold and silver prices declined on Friday amid a sharp bounceback on Dalal Street, though weakness in the dollar overseas limited the downside. MCX gold futures for June 4 delivery traded lower throughout the morning session, and were last seen quoting down by Rs 95 or 0.20 per cent at Rs 48,449 per 10
Source says A GOP source says that the new $1.7 trillion infrastructure proposal laid out by Pres. Biden is not a significant improvement. No surprise there. The GOP want to pay for the plan via a gas tax or other use tax. The Pres. does not want to tax those making less than $400K (which gas taxes and
Gold prices inched lower on Friday as the dollar rebounded after robust U.S. manufacturing data, although bullion was still on track to register a third straight weekly gain. Spot gold eased 0.1% to $1,876.42 per ounce by 1:43 p.m. EDT (1743 GMT) but prices were headed for a 1.9% weekly gain, helped by subdued U.S.
While Fed minutes started to prepare the markets for discussion on tapering in the coming months, Dollar wasn’t give much support. It has indeed ended as one of the worst performers for the week, just next too New Zealand and Australian Dollar. On the other hand, Swiss Franc and Yen ended as the strongest ones.
CFTC commitments of traders: EUR long back up to 100K Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Weekly forex futures positioning data from the CFTC for the week ending May 18, 2021 EUR long 100K vs 94K long last week. Longs increased by 6K GBP long 25K
NEW YORK: Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal. Brent