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
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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
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Earnings rebound expected Goldman Sachs and JP Morgan strategists see upside for European corporate earnings after a very slow recovery Stoxx 600 earnings expected to rise 45% in 2021, 11% in 2022 and 4% in 2023 So, if there is plenty of money still sloshing around out there some of it can still go into
Israel putting masks back on Sadly, there is a note of caution here, annoyingly. Nothing market moving, so finger off the buy and sell button for now. But Israel is going back to mask wearing to try and contain the virus again. The delta variant is showing signs of spreading even amongst vaccinated folks. The
NEW DELHI: 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. After choppy trading, the yellow metal posted modest gains in domestic markets. Fewer Americans filed new claims for unemployment benefits last week, according
Dollar and Yen are trading slightly softer in Asian session today, as markets are back on full risk-on mode. S&P 500 and NASDAQ hit new record after US President Joe Biden struck an infrastructure deal with a bipartisan group of senators. Asian stocks also trail higher. Commodity currencies rise in general as led by New
Bank of America believes the dollar has room to run Bank of America Global Research discusses the USD outlook and maintains a core bullish view through year-end. “The US economy is set to outperform by an historically-wide margin in 2021 and 2022, making this global recovery an exception to the “sell USD” pattern. We expect supportive capital
NEW DELHI: Gold in the national capital on Thursday dipped by Rs 93 to Rs 46,283 per 10 grams amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,376 per 10 grams. Silver, however, gained Rs 99 to Rs 66,789 per kg, from Rs 66,690 per
Sterling drops notably today after BoE delivered no hawkish surprise. While it sounded upbeat on the outlook, the MPC, except chief economist Andy Haldane, would prefer to wait until August to take any policy actions. Dollar is also soft after weaker than expected jobless claims and durable goods orders. On other other hand, New Zealand
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
NEW DELHI: Gold prices edged lower on Thursday as a stronger dollar dented the yellow metal’s appeal. Investors are awaiting more US economic data due this week to gauge inflationary pressures. The safe heaven metal slipped in domestic markets. According to two US Fed officials, inflation may remain elevated longer than expected. The central bank
The chorus of Fedspeaks overnight provided little inspirations to the markets. Some policy makers expected tapering in the coming months, followed by rate hike next year. Some remained more cautious on the outlook. That’s what we already know from the Fed’s dot plot already. Major US indexes closed mixed in tight range. Yen and Dollar
Democratic Sen. Jon Tester US Dem Sen. Jon Tester says: getting closer to infrastructure talks My goal is to have a deal by the end of the day and hopefully by early afternoon Sen. Joe Manchin added: He hopes to have a deal before the Senate breaks on Thursday for the July 4 Independence holiday GOP Senator Romney concrurred:
NEW DELHI: Gold in the national capital on Wednesday gained Rs 110 to Rs 46,396 per 10 gram following recovery in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,286 per 10 gram. Silver also climbed Rs 324 to Rs 66,864 per kilogram from
The forex markets continue to stay in sort of risk-on mode today, with weakness in Dollar and Yen, and strength in commodity currencies as led by New Zealand Dollar. Though, traders in other markets are not too committed yet. European indexes are just mixed while US futures point to slightly higher open. There is prospect
Via Reuters, quoting FT sources Between US Secretary of State Blinken & China’s Foreign Minister Wang Yi at G20 next week This would be the first high level engagement since the March Alaska event. US-Chine relations still frosty in the President Biden era even though some of the heat from ex-President Trump has dissipated, even
MELBOURNE: Oil prices rose on Wednesday after industry data showed US crude inventories fell more than expected, reinforcing views of a tightening supply-demand balance with road and air travel picking up in Europe and North America. US West Texas Intermediate (WTI) crude futures jumped 33 cents, or 0.5%, to $73.18 a barrel at 0217 GMT,