Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today’s non-farm payroll report. As of now, Yen is the second strongest for the week, following the green back. Canadian Dollar is the third strongest, and will face the test of its own
News
Reuters with a snippet via Nippon TV, the broadcaster having obtained a draft of the country’s ‘fiscal beluepritn’. Japan’s government will say the country must “aim to” achieve its fiscal target bearing in mind that its fiscal state is in dire straits from spending to combat the coronavirus pandemic government must lay the groundwork towards
Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve. Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led
All eyes on employment The numbers today emphasized just how important non-farm payrolls are tomorrow. The turn we’re seeing in markets is all about the employment component of ISM services. It’s often a better predictor of the jobs report than ADP. It fell to 55.3 from 58.8 in April. With that, the US dollar has
NEW DELHI: Gold in the national capital on Thursday dipped Rs 339 to Rs 48,530 per 10 gram following decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,869 per 10 gram. Silver also tumbled Rs 475 to Rs 70,772 per kilogram from
The latest PMIs reveal that China’s economic activities eased in May. The Caixin services PMI eased to 55.1 in May from 56.3 a month ago, while the manufacturing PMI increased marginally, by -0.1 point, to 52.The detailed report suggests that new business slowed which price pressures intensified. The situation applies not only to the services
Wrapping up the PMIs from China for last month. Services 55.1Composite 53.8 prior 54.7 Falls for both and both still in expansion. From the report: fall in overseas demand gauge of export orders into contraction rrowth in total new orders slipped services firms increased their staffing levels for the third straight month inflation pressures –
NEW DELHI: Aluminium prices on Wednesday fell 70 paise to Rs 195.35 per kg in the futures market as participants trimmed their positions on a low trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in June declined by 70 paise, or 0.36 per cent, to Rs 195.35 per kg in
The financial markets continue to be range bound today, as traders seem to be holding their bets before Friday’s US job report. Dollar is recovering mildly but it’s held below next term resistance levels. Sterling is currently the stronger one, while Swiss France is the weakest. Technically, we’re still staying near term bearish on the
Canada building permits for April -0.5% versus -5.0% estimate Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT April Canada building permits Canada building permits for April came in at -0.5% versus -5.0% estimate. Prior month 5.7% Total value of building permits $11.1 billion The permits remain near historic high levels.
NEW DELHI: Gold slipped by Rs 116 to Rs 48,772 per 10 grams in the national capital on Wednesday in line with a fall in global precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,888 per 10 grams. Silver also tumbled Rs 1,291 to Rs 70,836 per
Trading continued to be rather subdued in Asian session. Major pairs and crosses are staying inside yesterday’s range, as well as last week’s range. Sterling is currently the weakest one, after failing to follow through the rally attempt earlier this week. Dollar is the next weakest for now. On the other hand, Aussie and Swiss
Australian January – March economic growth data show a solid beat. 1.8 % q/q 1.1 % y/y AUD marked up above 0.7770 on the release, as I update not by much though. More: Q1 household spending +1.2% q/q household savings ratio 11.6% (down from 22% or so during the pandemic but well higher than the 4
NEW DELHI: Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,607 per 10 gram. Silver also jumped Rs 952 to Rs 71,850 per
Canadian Dollar jumps broadly today, following upside breakout in oil price, and partly supported by solid GDP growth data. Australian Dollar is following as the second strongest, while Dollar is also rebounding. On the other hand, Sterling reversed earlier rallies after failing to sustain above a key resistance against Dollar. Subsequent selloff sends the Pound
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 on Tuesday traded near a five-month high scaled last week, supported by a softer dollar and growing inflationary pressures. The precious metals extended gains in domestic markets on the back of mixed cues. Investors awaited key US data that will provide a clearer picture on the global economy’s recovery path. Market