There are heavy weights event for Euro and Dollar today, but reactions are so far mild. ECB said it will continue the PEPP purchases at “significantly higher” pace in Q3. Yet, it also upgraded both growth in and inflation forecast for this year and next. Dollar shrug off very strong consumer inflation, as well as
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Remarks by China’s FX regulator head on the market International markets face risk of correction from high levels Correction could lead to global risk-off sentiment, changes in cross-border flows I’m not really sure what one can extrapolate from the headline remark, given how inflows to the yuan this year are in part due to their
NEW DELHI: Gold prices surged up on Wednesday, on the back of falling US bond yields. Investors are holding back from making large bets ahead of US inflation data and the European Central Bank policy meeting this week. The precious metal traded firm in domestic markets. Labour Department data showed US job openings surged by
Global financial markets are generally treading water this week so far. Trading in the forex markets is also subdued. Canadian Dollar is currently leading other commodity currencies lower, awaiting BoC policy decision today. On the other hand, Swiss Franc is the strongest one, lifting Euro higher too. In other markets, Gold is still struggling to
Closing changes for the main European bourses: UK FTSE 100 -0.2% German DAX -0.3% French CAC +0.3% Spain IBEX -0.3% Italy MIB -0.2% Shares prices were lower earlier in the day but rebounded in the last four hours of trading with a final gasp of buying in the final hour of trade. Invest in yourself.
NEW DELHI: Gold dipped Rs 92 to Rs 48,424 per 10 grams in the national capital on Wednesday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,516 per 10 grams. Silver also went lower by Rs 414 to Rs 70,181 per kg, from Rs 70,595 per kg in
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