NEW DELHI: Silver futures on Friday dropped Rs 383 to Rs 67,364 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 383, or 0.57 per cent, to Rs 67,364 per kg in a business turnover of 11,605 lots. Silver traded lower
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Sentiments appear to be weighed down by the upstoppable rally in treasury yields again today. At the time of writing, US 10-year yield is trading above 1.75 handle while Germany 10-year bund yield is at -0.25. US futures point to lower open, with weakness seen particular in NASDAQ again. Dollar stabilized from yesterday’s post FOMC
US/China meetings The US State Department is commenting on US/China meetings in Alaska: US, China meetings in Alaska are serious discussions Diplomatic presentations can be exaggerated for a domestic audience after tense meetings with Chinese officials US not letting theatrics from other side distract from laying out our principles, having tough conversations with China US deeply alarmed
LONDON: Oil prices rose slightly on Friday in a volatile trading session, following a big sell-off the previous day as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened expectations of any imminent recovery in fuel demand. Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel by 1450
Dollar is generally firmer as markets enter into US session. Futures point to a flat open, but investors are clearly on guard of selloff before the weekend. Cautiousness is keeping Yen afloat too, even though Swiss Franc is lagging behind. As for today, Sterling is the worst performing one, followed by Swiss, and then Aussie.
Europe has some catching up to do Eurostoxx -0.4% Germany DAX -0.6% France CAC 40 -0.4% UK FTSE -0.9% Spain IBEX -0.9% This comes after European indices closed higher yesterday, “missing out” on the late selloff in US equities. Hence, there is some catching up to do to the declines overnight. That aside, the overall
KOLKATA: Gold loan offtake has slowed down in Q4 of FY21 due to sharp correction in gold prices. Prices of gold have fallen from Rs 51,000 per 10 gm in the beginning of January to Rs 45,000 per 10 gm now. The NBFCs said that the assets under management for this quarter is likely to
Renewed surge in US treasury yields overnight sent stocks lower. Risk-off sentiments continued in Asian session general. Australian Dollar is currently the worst performing one for the day, weighed down further by weak retail sales data. Canadian Dollar is following as second weakest, as oil priced tumbled. Swiss Franc, Yen and Dollar are the stronger
The BOJ will announce the result of the policy review today. Preview: Which does seem to be what to look for: There is no scheduled time for this, sometime after 0230 GMT is expected. 2330 GMT Tokyo inflation data for February – Tokyo area CPI (national level CPI for the month follows in three weeks)
NEW YORK: Oil prices sunk for a fifth day in a row on Thursday to their lowest in two weeks on growing worries about rising COVID-19 cases in Europe and the strengthening US dollar that hurts the value of oil. Brent futures fell $3.74, or 5.5%, to $64.26 a barrel by 1:02 p.m. EST (1702
The BOE voted 9-0 to leave the Bank rate unchanged at 0.1%. It will also continue to buy up to 875B pound of UK government bonds and 20B pound of corporate debts. While cautioning that the economic outlook remained highly uncertain, policymakers acknowledged the recent upbeat data, smooth vaccination progress and the latest budget package.
Nasdaq futures fall by 0.9% on the day There’s a thought here that the equities complex may see a bit of a problem with 10-year Treasury yields rising to 1.75% – it is already at 1.72% currently. So, keep an eye on how all of this may turn into a bit more of a risk-off
NEW DELHI: Gold and silver futures climbed on Thursday as the dollar weakened after the US Federal Reserve kept the interest rate unchanged and reiterated its stance to keep benchmark rates near-zero through at least 2023. The dollar index dropped 0.5 per cent to 91.405, making the greenback-denominated metal cheaper for non-US investors. Gold futures
Dollar dropped broadly overnight as markets turned into mild risk-mode following FOMC rate decision. A better economic outlook was painted by the new economic projections. Yet, Fed is clear that it’s not even considering tapering the asset purchases for now. DOW and S&P 500 rose to new record while 10-year yield also closed higher. Commodity
Powell wraps up the press conference You would have to dig very deep to find anything remotely hawkish about the FOMC statement or Powell’s press conference. The market reaction has been definitive and it’s extending following the Q&A: USD lower Stocks higher Treasury curve on a front-end led bull steepener Commodity prices higher including 1%
Gold prices inched lower on Wednesday, pressured by elevated US bond yields and a firmer dollar, but remained within a tight range as markets await the outcome of the Federal Reserve‘s monetary policy meeting. Spot gold was down 0.1% at $1,728.52 per ounce at 9:54 A.M EDT (1354 GMT). US gold futures also eased 0.1%
The markets remain generally quiet today, awaiting FOMC rate decision. Sterling regains much of the ground lost earlier in the week. Canadian Dollar is also firm, in particular against other commodity currencies. On the other hand, Swiss Franc is paring some of yesterday’s gains, while Aussie and Kiwi turn week. Dollar and Euro mixed for
Risk trades and the dollar wait on the bond market reaction to the Fed US futures are keeping flat, with the dollar mostly little changed across the board as narrower ranges continue to prevail for the time being. EUR/USD is resting close to 1.1900 and trading within a 15 pips range to start European morning