National Commodity and Derivatives Exchange (NCDEX) and its Investor Protection Fund Trust on Tuesday launched the country’s first call center dedicated to farmers and Farmer Producer Organizations (FPOs) to impart complete knowledge about agricultural derivatives and related market infrastructure services. A media release issued by NCDEX said that the initiative will help farmers and FPOs
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Euro rebounds strongly today on hope of positive development out of negotiation between Ukraine and Russia. Top Russian negotiator Vladimir Medinsky was quoted saying that talks were constructive and a Putin-Zelenskyy meeting is possible. BBC also quoted Russian deputy defence minister Alexander Fomin saying they will “radically reduce” military activity outside Kyiv and Chernihiv. Additionally,
AUD/JPY’s rally eased on Tuesday, with the pair on course to post only its second daily loss since 14 March. But after dipping as low as the 91.40s, the pair managed to recover back above above the key 92.00. Any pullback towards support in the form of 2017 highs around 90.00 likely to be viewed
The Nasdaq has moved to a new session high and in the process is pushing closer to the 50% midpoint of the move down from the all time high. That midpoint comes in at 14383.79. The high price has reached 14308.82. A move above that level is a step in a more bullish direction. On
2-year yields are up nearly 4 bps to 2.42% while 10-year yields are up 2.5 bps to 2.50% on the day. An inversion of the 2s10s looks imminent but I would argue perhaps the market has already come to terms with that. I’ll save the recession indicator talk for another time but just be wary
NEW DELHI: Gold prices in India bucked the global trends and dropped on Tuesday as the yellow metal lost its sheen to riskier assets. Firm US dollar and climbing bond yields also dented the sentiments. Gold futures on MCX were trading down 0.53 per cent or Rs 271 at Rs 51,300 per 10 grams. Silver
The forex markets are digesting recent moves in mixed Asian session today. Yen is recovering slightly but remains the worst performer for the week. BoJ is still trying hard to defend the 0.25% 10-year JGB yield cap. On the other hand, Euro and Dollar are the strongest ones so far. The greenback is trying to
Gold price remains in the red so far this week, as the US Treasury bonds see no reprieve, leading to the relentless surge in the yields. The US dollar is tracking the rates higher, weighing heavily on gold price. Hopes for progress on the Russia-Ukraine peace talks are boosting the overall market mood, adding to
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South Korea’s reputation as a trend-setter and leader in technological research is quickly spilling into the blockchain realm as nonfungible token (NFT) adoption has skyrocketed in the small East Asian country. As of 2020, South Korea has been among the top-10 countries in the world in the Global Innovation Index by the World Intellectual Property
The AUDUSD broke below the 100 hour MA for the first time since March 16, and the break sent the pair from 0.7491 to the session low at 0.7466. That will was just above the swing lows from Thursday’s trade at 0.74656. There are now 3 lows on the hourly chart at that level over
This via ANZ, in summary from a longer piece: Authorities said that it will undertake a staged lockdown of Shanghai as they try to contain its spread. Traffic data from Baidu shows peak morning time congestions is down 45% y/y as workers stay home. Shanghai accounts for 4% of China’s total oil consumption. Markets are
The crude oil market heads into another week of uncertainty, buffeted on one side by the ongoing war between Russia and Ukraine and the expansion of COVID-related lockdowns in China, the world’s largest crude importer. Brent crude and U.S. West Texas Intermediate (WTI) crude surged last week. The two benchmarks gained 11.5% and 8.8%, respectively,
Yen remains the weakest one today, but there is some short covering as global benchmark treasury yields also retreat. Selling focus is turning Sterling instead. For now, Aussie and Dollar are the strongest one for the day, followed by Canadian. Euro is mixed, helped by recovery against Swiss Franc. Gold recovers quickly after initial dip
The gold price is down on the day, losing around 1.9% at the time of writing as the US stock market rises later in the day for a positive close in hopes of a breakthrough in peace talks surrounding the Ukraine crisis. Ukraine Peace talks hopes The FT released an article that states that Russia
The USDJPY continues to run to the upside. The pair is now approaching the 122.00 level. The high prices reach 121.965 so far. Moving above the 122.00 level and staying above would push the price toward the higher extremes on the weekly chart (see earlier post HERE). There may be some sellers against that 122.00