Commodity currencies remain generally weak today on mixed market sentiment. But buying is turned to European majors, with Swiss Franc having an upper hand. Dollar and Yen, on the other hand, soften mildly. The greenback has little reaction to record PPI reading. Meanwhile, it should be noted that major forex pairs are staying inside last
New Delhi: Gold in the national capital on Tuesday dipped Rs 68 to Rs 47,280 per 10 gram in line with weak international precious metal prices, according to HDFC Securities. In the previous trade, th precious metal settled at Rs 47,348 per 10 gram. Silver, however, gained Rs 114 to Rs 60,221 per kg from
Wholesale prices increased at their quickest pace on record in November in the latest sign that the inflation pressures bedeviling the economy are still present, the Labor Department reported Tuesday. The producer price index for final demand products increased 9.6% over the previous 12 months after rising another 0.8% in November. Economists had been looking
Where is gold price headed? Markets are eagerly looking forward to the Fed decision, as the two-day FOMC meeting kicks off on Tuesday. Ahead of the Fed verdict, the Omicron covid variant fears have gripped the market, putting a fresh bid under the safe-haven US dollar at gold’s expense. Meanwhile, the Treasury yields hold steady
The biggest regulatory story of the week was a United States House Committee on Financial Services hearing squarely focused on crypto. Even the event’s title — “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States” — conveyed a different vibe than countless previous Congressional meetings
The markets are rather quiet in Asian session. Stock indexes are trading higher but no follow through buying is seen. In the forex markets, major pairs and crosses are stuck inside Friday’s range, with commodity currencies a touch firmer. Activity could remain subdued with an empty calendar for today. Yet, volatility is guaranteed with five
Mumbai: The largest commodity exchange on Monday launched trading on nickel options, making it the third base metal derivatives on its platform. The exchange already offers base metal options on futures in copper and zinc and option contracts in gold, silver and crude. The exchange said nickel options contract will be based on 1,500 kg
Jerome Powell, chairman of the U.S. Federal Reserve, speaks in the Eisenhower Executive Office Building in Washington, D.C., U.S., on Monday, Nov. 22, 2021. Samuel Corum | Bloomberg | Getty Images If the Federal Reserve meets expectations next week and announces a more aggressive unwind of the measures taken to boost the economy, it will
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Forex Trading is the transaction of trading currencies of different countries against one another. Currencies are exchanged for doing business and trading abroad, which makes the forex market the largest financial market in the world. Forex trading is done through a forex broker or market maker and is now considered a common form of investment.
AUD/NZD pushed back above 1.0550 on Monday to challenge last week’s highs on Monday. External central bank events will dictate FX action this week, but Australia and New Zealand data will be of note. AUD/NZD pushed back towards last week’s highs above 1.0550 on Monday, up about 0.1% on the day, as the Aussie dollar
Dollar and Sterling firm up mildly in overall quiet markets today. Commodity currencies are, on the other hand, trading lower. Investors are turning cautious ahead of the wave of central bank meetings later this week, in particular on Fed’s decision to faster the tapering pace. Oil prices also dip mildly even though OPEC upgraded demand
New Delhi: Gold prices rose by Rs 62 to Rs 47,262 per 10 gram in the national capital on Monday in line with recovery in the precious metal in global markets, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,200 per 10 gram. Silver also moved higher by Rs
Mohamed El-Erian Olivia Michael | CNBC Calling inflation “transitory” was a historically bad move for the Federal Reserve, according to Allianz Chief Economic Advisor Mohamed El-Erian. “The characterization of inflation as transitory is probably the worst inflation call in the history of the Federal Reserve, and it results in a high probability of a policy
USD/CAD gained some positive traction on Monday amid a modest pickup in the USD demand. Bullish crude oil prices might underpin the loonie and keep a lid on any further gains for the pair. Investors might also refrain from placing aggressive bets ahead of the key FOMC policy decision. The USD/CAD pair edged higher through
Scalability on the Ethereum (ETH) network has been a point of contention within the cryptocurrency ecosystem for years, primarily due to high fees and network congestion during periods of peak demand. The latest solution to emerge as the final fix to Ethereum’s scalability woes are Zero-knowledge rollups (ZK rollups), a form of scaling that runs
The Fed this week will announce acceleration of QE tapering. With inflation approaching 7%, policymakers would likely revise its view on inflation outlook and “retire” the word “transitory”. The updated economic projections and median dot plots showing members’ interest rate projections would also be released. The Fed funds rate will stay a 0-0.25% until mid-2022.