Dollar rebound strongly in early US session after much stronger than expected consumer inflation data. But Canadian Dollar is even stronger with help from extended rebound in oil price. Sterling is the third strongest, as supported by stronger than expected GDP. On the other hand, New Zealand and Australian Dollar are under most selling pressure
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NEW DELHI: Gold prices were subdued on Tuesday as rising US Treasury yields countered support from a weaker dollar and investors awaited US consumer price data to gauge inflation. The deteriorating health crisis in India also led to gains. Benchmark US 10-year Treasury yields rose for a third straight day, increasing the opportunity cost of
Oil output from OPEC-10 and the nine non-OPEC producers joined the “output-cut” deal increased to 34.43M bpd in April, up from 34.26M bpd a month ago. The total compliance level slipped -0.2 ppt to 111%. Saudi Arabia’s voluntary cut of 1M bpd continued to contribute significantly to overall compliance. The compliance level would have dropped
Forex news for NA trading on May 11, 2021 The USD is ending the day mixed with gain diversity CHF and NZD and declines vs the EUR, GBP, JPY and AUD nearly cancelling each other out. Tomorrow the CPI will be released with expectations of the YoY headline number reaching the highest level since September 2011 (expecting
LONDON: OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the coronavirus crisis in India, an outlook that bolsters the group’s plan to gradually ease output cuts. In a monthly report, the Organization of the Petroleum Exporting Countries
Tech led global equities selloff is a major theme today, spreading from Asia to Europe to the US. In the background, there seems to be heightened concerns on inflation over surging commodity prices. European indexes are all in deep red while NASDAQ future is down another -1.6%. The reactions in the currency markets are mild
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 futures were trading higher on Tuesday after trading near a three-month high in the previous session after last week’s miss on the U.S. jobs growth numbers weighed on the dollar and bolstered expectations that interest rates will remain low. The deteriorating health crisis in India also led to gains. US, nonfarm payrolls
While US stocks hit another record high overnight, the path reversed with the three major indexes closing lower, with particular heavy selling in NASDAQ. Bearish sentiment continues in Asia session today, with Nikkei and Hong Kong HSI in deep red. Reactions in currency markets are mild, however, with commodity currencies just in shallow retreat. Yen
Coming up at 0130 GMT, China inflation figures for April Quite the divergence in expectations. The PPI is ramping higher on the back of the surging prices of commodities copper, tin, iron ore, plastics prices to producers in China (and elsewhere of course) have risen to the highest in a decade supply constraints are a
LONDON: Hedge funds boosted their position in petroleum for the fourth week running, as bullishness about oil consumption and prices rebounded after the setback in March. Hedge funds and other money managers purchased the equivalent of 40 million barrels in the six most important petroleum futures and options contracts in the week to May 4.
Sterling rises strongly today, and overpowers Australia and New Zealand Dollar. On the other hand, Yen’s selloff continues while Dollar is following closely behind. Despite strong investor confidence data, Euro is indeed under heavy selling pressure against the Pound and Aussie. Comments from ECB chief economist Philip Lane suggests that the central bank is still
Latest data released by Sentix – 10 May 2021 That’s a solid beat and the jump in investor confidence highlights the optimism surrounding the euro area and global economic recovery going into 2H 2021. The reading is the highest since March 2018 with Sentix highlighting that there are clear signs that the global economy is
TOKYO: Crude prices rose on Monday after a major cyberattack forced the shutdown of critical fuel supply pipelines in the United States and highlighted the fragility of its oil infrastructure. Brent crude was up by 57 cents, or 0.8 per cent, at $68.85 a barrel by 0645 GMT, having risen by l.5 per cent last
The recent rally in copper price has been driven by potential supply deficit in coming years. Stimulus measures rolled by major economies, such as the US, the UK and China, have put strong focus on green energy. Developments of which are expected to significantly raise demand for copper. Meanwhile, issues in major copper producers, especially
The data agenda ahead has a few items of note from Australia. 0110 GMT Bank of Japan Japanese Government Bond purchase operation part of the Bank’s QQE program today the buying is of 1-3 and 3-5 year JGBs (time left until maturity) 0130 GMT Australia NAB business confidence and business conditions for April 0130 GMT
NEW DELHI: Aluminium prices rose 0.6 per cent to Rs 201 per kg in the futures trade on Friday as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the May delivery gained Rs 1.20, or 0.6 per cent, to Rs 201 per