Trading in the financial markets is rather subdued today. Swiss Franc is the stronger one at the time of writing, followed by Dollar and Sterling. Commodity currencies, on the other hand, turn softer with Australian Dollar leading the retreat. But overall movements in the markets are limited. Gold and crude oil are also struggling in
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Daily thread to exchange ideas and to share your thoughts The dollar is keeping just a touch higher ahead of European morning trade today as it holds the line after having fallen to test key support. EUR/USD is still keeping below key trendline resistance @ 1.2116 and that is one of the telltale signs that the dollar
NEW DELHI: Gold and silver futures were trading with cuts on Tuesday as a firmer dollar dulled their appeal, while the market looked forward to cues from the US Federal Reserve’s policy meeting. The dollar index edged up against its rivals, making gold more expensive for other currency holders, while benchmark US 10-year Treasury yield
While NASDAQ and S&P 500 closed at new records overnight, there is no follow through risk-on buying in Asian session. Investors are generally still cautious ahead of Fed meeting. Dollar recovers in general but upside momentum is very weak. Canadian is extending gains and is now leading other commodity currencies slightly. Yen is mixed, having
Comments from White House adviser Brian Deese Deese confirms Biden will propose changes to capital gains tax for those who make more than $1 million Deese says change will only affect 0.3% of taxpayers Plan to treat capital gains as wages for top earners There is no evidence of a significant impact of capital gains
LONDON: Copper prices soared to 10-year highs on Monday as Chile supply concerns, sliding inventories, a weaker dollar and expected strong demand from top consumer China triggered fresh buying. Benchmark copper on the London Metal Exchange (LME) traded 1.9% up at $9,730 a tonne in official rings. Prices of the industrial metal earlier hit $9,750
Overall market sentiments are steady today. Commodity currencies are currently the strongest ones for today so far, as led by Aussie. Dollar is recovering despite weaker than expected durable goods orders. Euro turns after after slightly weaker than expected Germany Ifo business climate. Yen and other European majors are also weak. Dollar is currently mixed,
Daily thread to exchange ideas and to share your thoughts It is going to be a big week in the market with plenty of things to take into consideration. But by the end of it all, I would not be the least bit surprised if we continue to stick with the reflation narrative in the bigger picture
NEW DELHI: Gold futures were trading with gains on Monday helped by a soft dollar ahead of the US Federal Reserve policy meeting this week and amid rising covid threat in India. Silver futures were flat. The dollar index nursed losses against its rivals, making gold less expensive for other currency holders. Gold futures on
We expect the Fed to turn more upbeat over the economic outlook at this week’s meeting. Yet, the economic improvement is not yet strong enough for any change in the monetary policy measures. As such, the Fed would leave the Fed funds rate target at 0-0.25%. On QE, the central bank would also leave the
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By James Attwood and Yvonne Yue Li Industrial metals from copper to aluminum to iron ore have rallied to the highest level in years. The reasons for their gains are plentiful: Copper — critical for everything from electrical wiring to motors and thus a bellwether for the global economy — broke out of its recent
Two picks from MUFG Research AUD/USD is up 41 pips to 0.7748 today. Recently, they suggested buying AUD/USD at 0.7620 with a target at 0.7895 and a stop at 0.7460. They’re reiterating the trade this week. “The trade idea has lost some upward momentum over the past week reflecting in part some concern that the
Palladium extended its blistering rally to an all-time high within striking distance of $3,000 on Friday on supply concerns and bets for improving demand, while gold pulled back on strong US economic data. Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain. Many analysts
Forex news for North American trading on April 23, 2021. The USD is ending the day as the weakest of the major currencies. The EUR was the strongest followed by the AUD. The green back seemed to have benefitted from rising stocks which pushed funds out of the “relative safety of the USD” (or that
Ritesh Jain Global Macro Investor & One of Top 3 Global LinkedIn Influencers on Economy and Finance, Mumbai He is a trend watcher, Global Macro investor and Blogger at worldoutofwhack.com. He has over 20 years of experience in financial markets, bonds, equities, gold, and derivatives. He muses about global macro investment opportunities, economics, business, and