As expected, the RBA left all monetary policy measures unchanged in June. Policymakers maintained a dovish tone, suggesting no rate hike at least until 2024. They also affirmed that some adjustments to the monetary policy would be made in July. On economic developments, while reiterating the “strong” growth outlook in 2021 and 2022, the central
News
China – Caixin/Markit Manufacturing PMI for May in line at 52.0 Key findings cited in the report: Total new business rises solidly, supported by stronger export sales Production growth softens slightly due to supply chain strain Staffing levels broadly stable as companies face steep rise in costs
NEW DELHI: Gold rose by Rs 195 to Rs 48,608 per 10 gram in the national capital on Monday following a gain in the precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,413 per 10 gram. Silver dipped marginally by Rs 15 to Rs 70,521 per kilogram
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance
Canada Q1 current account balance +$1.18B vs +$2.50B expected Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Canada current account data Prior was -$7.26B This was the first surplus since the third quarter of 2008 Trade in goods and services balance recorded a $2.1 billion surplus in the first quarter,
NEW DELHI: Zinc prices on Monday rose 0.15 per cent to Rs 238.20 per kg in the futures trade on a firm spot demand. On the Multi Commodity Exchange, zinc contracts for the June delivery rose 35 paise, or 0.15 per cent, to Rs 238.20 per kg in 2,275 lots. Analysts said fresh positions created
Dollar weakens broadly in relatively quiet Asian session today, while Australian Dollar is strengthening. Asia markets are trading mildly lower, but losses are limited. Month-end flow, plus holiday in the UK and the US, could keep activity subdued today. But the week ahead is extremely busy, with lots of first-tier economic data featured. Technically, Dollar’s
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: Aluminium prices on Friday fell Rs 2.45 to Rs 193.60 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 Rs 2.45, or 1.25 per cent, to Rs 193.60 per kg in
The June RBA meeting will have little surprise, as the central bank has already planned to adjust yield curve control (YCC) and QE measures in July. This week, policymakers will discuss recent economic data and the economic impacts of the lockdown in Melbourne. All monetary policy measures will stay unchanged: The cash rate target would
Weekly futures forex positioning data from the CFTC: EUR long 104K vs 100K long last week. Longs increased by 4K GBP long 31K vs 25K long last week. Longs increased by 6K JPY short 50K vs 51K short last week. Shorts decreased by 1K CHF short 1K vs 4K short last week. Shorts decreased by 3K AUD
NEW DELHI: Copper futures on Friday slipped 1.17 per cent to Rs 760.95 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the June delivery eased by Rs 9, or 1.17 per cent, to Rs 760.95 per kg in a business turnover
A look at seasonal trends in the forex market for June 2021 June will begin after a long weekend in the US as we turn the calendar Tuesday with an OPEC meeting that could set the table for crude and commodity currencies. In the bigger picture, economic data and central banks are growing drivers in
Domestic gold and silver prices declined on Friday amid a rise in the dollar and US bond yields. A record high on Dalal Street also dented the safe-haven appeal of bullion. MCX nearby-month futures (June 4) were last seen quoting at Rs 48,380 per 10 grams in early deals in the evening session, Rs 201
Overall, the markets in the last full trading week of May was rather mixed. New Zealand Dollar surged initially after hawkish RBNZ. But it failed to extend much gain from there, even though it still ended as the strongest. It looked like Dollar was ready to turn around after strong inflation reading, but it also
Meme stocks had a big turnaround Shares of AMC went for a wild ride today in the latest meme stock mania. The company closed Thursday at $26.75 then soared to $36.72 at the open before turning around to finish 1.5% lower at $26.12. Shares of GME finished 12.6% lower after opening 3% higher as well.
The world’s worst coronavirus outbreak is changing the way Indians buy gold, hastening a shift to modern, retail stores. While buyers have been slowly shifting away from the thousands of family-run jewelry shops that control the bulk of the world’s second-biggest gold market, the pandemic has sped up the process, according to Ramesh Kalyanaraman, executive