Year-to-date, Canadian dollar is the best performing currency against US dollar. Indeed, most of the gains has been accumulated after the April BOC meeting, at which policymakers announced QE tapering and hinted about rate hike in as soon as next year. Despite recent disappointment in macroeconomic data, we expect yield differential and crude oil price
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Forex news for North American trading on May 13, 2021 In other markets: Gold is trading up $10.94 or 0.6% at $1826.64 Silver is up six cents or 0.23% $27.08 WTI crude oil futures fell sharply by $-2.31 or -3.48% at $63.78. The hi reach $65.81. The low extended to $63.09 The price of bitcoin fell sharply and is trading
LONDON: prices fell more than 2 per cent on Thursday as India’s coronavirus crisis deepened and a key U.S. pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand later in the year. Brent crude was down $1.65, or 2.3
Overall market sentiment stabilizes mildly entering into US session. Major European indexes pared back much of earlier losses, while US futures also turned positive. Even though US PPI showed stronger than expected reading, slightly better than expected jobless claims is support sentiment, in a way. Dollar attempt to extend rebound earlier, but quickly lost momentum
The sour mood from yesterday continues to persist European indices are down by roughly 2% across the board now as the selling in equities intensifies and that is also exacerbated by a drop in US futures as well. US futures were pointing to modest gains in Asia but have turned that around and are marked
Akshay Tritiya is considered an auspicious occasion to start new things and make valuable purchases. Indians have a special attachment to gold, and over the years, have continued to import gold in huge quantities to fulfil their insatiable desire for the yellow metal. While Indian attraction to gold is unparalleled, demand is highly sensitive to
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +3.89 mmb to 1283.82 mmb in the week ended May 7. Crude oil inventory dropped -0.43 mmb (consensus: -2.82 mmb) to 484.69 mmb. Stockpile declined in 2 out of 5 PADDs with PADD 1
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
Domestic gold and silver prices remained under pressure on Wednesday amid a strengthening dollar and a rise in US bond yields, as key data that showed consumer prices logged a higher-than-expected jump in the world’s largest economy. MCX gold futures for June 4 delivery recovered all of the day’s losses to trade marginally higher at
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
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 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