Risk-on, risk-off, and then risk-on. It’s a roller-coaster ride for investors last week,with a slew of heavy-weight events. In the end, commodity currencies ended as the best performers, with support from rebound in sentiment. Canadian Dollar held a slight advantage over Australian and New Zealand Dollar. But all have them have reasons to extend last
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Gold prices started the week on a negative note amid improved risk sentiments after JPMorgan Chase & Co. agreed to acquire First Republic after its collapse last month, making it the second-biggest bank failure in US history. The government-led deal fueled optimism that the worst of the banking sector turmoil might be over, prompting a
Anuj Gupta, Vice President, IIFL Securities, says future contracts are very useful for hedging the prices by using future contracts. After the listing of this commodity on the exchange, traders are using this platform for hedging the prices. A few days back, we saw unseasonal rain destroy almost 4,000 sacks of Isabgol in Jaisalmer. So
Dollar trades broadly lower overnight and remains soft in Asian session. Despite risk-off sentiment in the US, the greenback failed to find support, as market participants bet on an earlier Fed rate cut due to ongoing bank concerns. Meanwhile, Euro is also facing pressure due to falling treasury yields, with yesterday’s ECB rate hike now
Gold prices declined Rs 160 to Rs 62,040 per 10 grams in the national capital on Friday amid a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 62,200 per 10 grams. Silver, however, climbed Rs 650 to Rs 77,950 per kg. “Spot
Dollar jumps in early US session as lifted by a set of strong non-farm payroll data. But it remains to be seen if buying could sustain. Still, Canadian Dollar looks even stronger for its own robust employment data too. For now, Swiss Franc is the worst performer for the day, very much thanks to the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices fell over 1% on Thursday, deepening steep losses in recent days, after the U.S. Federal Reserve increased interest rates and investors worried about a weakening global economy that could dent energy demand. Brent futures fell 76 cents, or 1.1%, to $71.57 a barrel by 0002 GMT. The global benchmark on Wednesday posted its
Dollar was sold off broadly overnight after Fed indicated openness to a pause in tightening after raising interest rate by 25bps. Yet, selloff is relatively limited after Chair Jerome Powell ruled out a rate cut this year. Indeed, major stock indexes ended slightly lower, as weighed by persistent concerns over regional banks in the US.
Shares of PacWest Bancorp are down 46% today after a report late yesterday that the company was considering strategic alternatives. The company responded with a press release that highlighted a sale process of its Lender Finance business that was already announced and said that it had been approached ‘by several potential partners and investors’ in
On a recent evening in April, only three or four people browsed among the several gold jewellery booths in a plaza in Beijing’s high-end Wangfujing shopping district and all left without buying anything. “I’m just taking a look. I do not consider buying right now because prices are too high at the moment,” said one
Euro dips initially after ECB stepped down tightening pace with a 25bps rate hike today. But it then quickly recovers after ECB President Christine Lagarde firmly said in the press conference, “We are not pausing. That’s very clear… We know we have more ground to cover.” Overall though, Euro is on the weaker side today,
LONDON -Oil prices extended losses on Wednesday after plunging 5% in the previous session, as investors fretted about the health of the US economy ahead of an expected Federal Reserve interest rate hike later in the day. Brent futures fell $1.99, or 2.6%, to $73.33 a barrel by 1225 GMT, while West Texas Intermediate crude
The Federal Reserve raise rates by 25 basis points as per expectations to 5.00% to 5.25% (although there were plenty who thought otherwise as well). The rate is now at the target terminal rate from the last Fed Dot plot from March. During the May FOMC press conference, Federal Reserve chair Jerome Powell highlighted the
Dollar remains weak in early US session, despite strong ADP job data, seeing only modest gains the Australian and Canadian Dollars. However, the selloff remains contained, even against strong Yen and Swiss Franc. Traders are evidently holding their bets as they await FOMC rate decision. A 25bps hike to 5.00-5.25% is widely anticipated, and it
Gold prices rallied Rs 670 to Rs 60,750 per 10 grams in the national capital on Wednesday amid strong global cues, according to HDFC Securities. The precious metal had finished at Rs 60,080 per 10 grams in the previous trade. Silver also zoomed Rs 1,150 to Rs 76,100 per kg. “Spot gold prices in the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Dollar weakens broadly in today’s Asian session as markets await what could be the last Fed rate hike in the current cycle. Risk sentiment is on the downside, with stock selloff carrying over from the US to Asia. Despite this, the greenback sees no apparent support. Conversely, Yen benefits from cautious sentiment a decline in