NEW DELHI: Gold and silver futures rose in Monday’s trade on optimism over a stimulus package passed by the US Senate. The gains in gold, however, were capped amid recent ETF outflows. An upbeat US payrolls data also lowered gold’s safe haven appeal. Gold futures for April delivery rose 0.10 per cent to Rs 44,729
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The Asian markets opened the week relatively mixed. Stocks gained initially on US Senate passage of the USD 1.9T stimulus bill. But sentiments are weighed down by concerns of inflation as oil prices jumped. Dollar is firm against Yen, Euro and Swiss Franc and look set to continue with last week’s rally. But the greenback
What’s on the economic calendar I’ve covered the bond market for 15 years and I can’t remember a Treasury auction that’s as highly anticipated as next week’s. The US is sell $58B in 3-year notes on Tuesday and $38B in 10s on Wednesday. The latter is the one to watch. Yields tracking higher and the
NEW DELHI: Silver futures on Friday dropped Rs 487 to Rs 65,434 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 487, or 0.74 per cent, to Rs 65,434 per kg in a business turnover of 12,658 lots. Silver traded lower
The BOC will leave its policy rate and the size of the QE program unchanged at this week’s meeting. While there will be no press conference and updated economic projections will not be released until April, policymakers will address the upbeat economic data released in the last meeting. Yet, they would have to maintain a
Huge spending bill passes 50-49 The US Senate passed Biden’s $1.9 trillion stimulus package with a number of amendments after a marathon session. The bill now heads back to the House where a vote will be held on Tuesday. It could be signed into law shortly afterwards. The highlight of the bill is a $1400
NEW DELHI: Copper prices on Friday rose by 0.62 per cent to Rs 677 per kg in futures trade on a pick-up in spot demand. On the Multi Commodity Exchange, copper contracts for March delivery traded higher by Rs 4.15, or 0.62 per cent, to Rs 677 per kg in a business turnover of 3,611
The markets are relatively mixed so far. Dollar’s rally attempt was brought to a halt overnight while Euro and Swiss Franc recovered. Commodity currencies also recovered, as led by Aussie, with support from better than expected GDP data. Yet, major pairs and crosses are kept in tight range. In other markets, Asian stocks rises broadly
CFTC Commitments of Traders: EUR long position trimmed. GBP longs is the largest since April 2018 Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 2, 2021 EUR long 126K vs 138K long last week. Longs
LONDON: Oil prices jumped more than 3% on Friday, hitting their highest levels in over a year after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. Brent crude futures were up $2.23, or 3.3%, at $68.97 a barrel by 1441 GMT – a
Strong treasury yield continued to be a major theme last week. But for now, it seemed 10-year yield could still break loose from the “magnetic field” of S&P dividend yield at around 1.5%. Indeed, US stocks, including NASDAQ staged a strong rebound on Friday, as 10-year yield settled back in range. Such theme will likely
Forex news for New York trade on March 5, 2021: Markets: US 10-year yields down 4 bps to 1.55% Gold up $1 to $1698 WTI crude up $2.44 to $66.27 S&P 500 up 73 points to 3841 CAD leads, EUR lags Non-farm payrolls delivered yet another whipsaw to short-term traders. It’s clear that the playbook
Gold fell to its lowest in nine months on Friday after better-than-expected US employment data bolstered the and US Treasury yields, putting bullion on course for its third straight weekly decline. Spot gold was down 0.1% at $1,695.22 by 11:50 a.m. ET (1650 GMT), after falling to its lowest since June 8 at $1,686.40 in
Huge volatility continues in stock markets as Asian indices dive following the selloff in US overnight. But movements in exchange rates are relatively subdued, and mixed. Swiss Franc, Yen and Euro are currently the weaker ones for the week, followed by Dollar. Australian Dollar is leading other commodity currencies and Sterling as the strongest. However,
This ETF put a target on its own back You don’t need to look much beyond a single ETF to explain much of the pain in the equity market. Cathy Wood’s ARKK innovation ETF became a sensation last year. The dicretionary, tech-focused ETF has seen major inflows in the past six months and amassed huge
Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore. Dealers charged up to $5 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, compared with last week’s
Dollar rises further in early US session after much stronger than expected non-farm payroll report. 10-year yield also surges and it’s now back above 1.6 handle. The greenback in currently the second strongest for the week, only overwhelmed by the oil supported Canadian Dollar. While Swiss Franc and Yen are trying to recover against others,
Goldman Sachs have boosted forecasts: sees Brent crude at $75 / bbl in Q2 and $80 in Q3 both forecasts raised by $5 / bbl JP Morgan meanwhile Have Brent forecasts at $67 for this year and $74 for 2020 both forecasts up circa 2 to 3 dollars / bbl Both citing OPEC+ not expanding supply