Dollar’s selloff resumed overnight after FOMC risk was cleared. Basically, Fed just reaffirmed it’s stance that it’s far from considering stimulus exits. Though, for the week so far, Yen is even weaker with strong rebound in global treasury yields. Euro is no far, follow Dollar as third weakest so far. On the other hand, Canadian
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Initial reaction is USD selling There isn’t much to digest in the FOMC decision. There were no actions or changes to guidance. Powell will take questions shortly but if the statement is any indication, he’s not going to offer anything new. The early market reaction is modest US dollar selling. Some of that is a
gold futures eased below the Rs 47,000 per 10 grams mark on Wednesday amid firming up US Treasury yields ahead of the outcome of Federal Reserve’s scheduled policy review later in the day. MCX gold futures for delivery on June 4 eased by Rs 378 or 0.80 per cent to quote at Rs 46,925 per
The financial markets are generally steady today as traders are holding their bet ahead of FOMC announcement. US President Joe Biden is set to unveil a USD 1.8T package for family and education, but that’s unlikely to trigger much reaction. New Zealand Dollar and Canadian Dollar are currently the strongest ones for today, followed by
Slightly positive tones in early trades German DAX futures +0.2% UK FTSE futures +0.3% Spanish IBEX futures +0.4% European indices had a more subdued session yesterday despite US stocks keeping flatter at the end. There is a mild rebound today with US futures keeping more mixed with S&P 500 futures and Nasdaq futures up 0.1%
NEW DELHI: Gold and silver futures were trading with cuts on Wednesday pulled down by firmer US Treasury yields with investors looking out for policy cues from the Federal Reserve’s meeting, while palladium eased after hitting a record peak in the previous session. Benchmark US 10-year Treasury yields rose to their highest since April 15,
Australian Dollar tumbles broadly in Asian session after weaker than expected CPI data. Sterling is following as the second weakest , and then New Zealand Dollar. Dollar firms up mildly as traders await FOMC rate decision, but the rebound is mainly centered against Yen and Aussie. Indeed, Yen was under some notable selling pressure overnight
Comments from Gundlach on BNNBloomberg DoubleLine CEO Jeff Gundlach was on BNNBloomberg today and took a decidedly anti-US stance. He emphasized that US equities were among the highest-valued in the world. He said he had recently bought European equities for the first time he could remember and also that Asian equities were much-better priced. On
Palladium prices scaled a record peak on Tuesday on persistent supply worries, while gold held a narrow range as investors awaited policy signals from the US Federal Reserve‘s meeting this week. Palladium hit a record high of $2,962.50 per ounce and was up 0.2% at $2,932.76 per ounce by 10:54 a.m. EDT (1454 GMT). “What
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
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