The impact of El Nino is proportional to its severity. This time, we anticipate a weak El Nino as opposed to a strong El Nino, a similar scenario in 2014 and 2018. In both years, India’s staple grain production was unaffected. We do not believe we should be unduly concerned about crop production at this
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Australian Dollar is having a broad recovery in Asian session today, bolstered by improvements in both consumer and business confidence data. While the rally’s strength is still limited, Aussie appears to have some room for further upside before encountering near-term resistance levels. European majors follow as the next strongest, with Sterling holding a slight advantage
Goldman Sachs has lowered its terminal fed target range to 5.0% -5.25% from 5.25% to 5.5%. They see a May 25 basis point hike but no longer see a June hike of the same magnitude. They site the expectations for shelter costs to start to come down lowering the need for the Fed to continue
NEW DELHI: Gold and silver futures started Wednesday’s session on a strong note ahead of key inflation data from India and the US and Federal Reserve policy minutes. The June gold futures rose Rs 260 or 0.43% per 10 grams to Rs 60,765 while May Silver futures were trading at Rs 75,677 per kg, up
The overall set of US consumer inflation reports appears to have been well received by investors. DOW futures jumped over 200 points following the release and maintained most of the gains before open, while treasury yields tumbled at both short and long ends. Although Fed is still on track to deliver another rate hike in
We’re heading towards another guessing game now as all the bets today are going to involve the US CPI data release. If the numbers do come in around estimates, I would argue it should support a 25 bps rate hike at the margin. But as markets digest the numbers, there might be more pushing and
Gold prices edged higher on Wednesday as the dollar pulled back, with investors focussing on key U.S. inflation data due later in the day for signs on how close interest rates are to peaking. FUNDAMENTALS * Spot gold was up 0.1% at $2,005.18 per ounce, as of 0051 GMT. U.S. gold futures rose 0.1% to
Market volatility could see a significant uptick today with three heavyweight events on the schedule. US consumer inflation data for March has the potential to shift market expectations regarding the Fed’s rate path. While headline CPI is expected to drop for the ninth consecutive month to 5.2%, core inflation is forecast to break its five-month
Not anticipating a downturn in the economy although it is a possibility Friendshoring is approach to deal with supply chain risks but retains tremendous scope for global trade to continue Argument that friendshoring will cause fragmentation is not valid Russia’s war in Ukraine showed importance of diversifying supply chains deeply concerned over Russia’s detention of
Gold price jumped by Rs 280 to Rs 60,680 per 10 gram in the national capital on Tuesday amid gains in the precious metal’s prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,400 per 10 gram. Silver also climbed by Rs 470 to Rs 74,950 per
European majors are taking center stage today as markets reopen after holidays. Although not spectacular, Eurozone data revealed improvements in investor confidence, which has bolstered overall market sentiment. Major European indexes and benchmark treasury yields are trading slightly higher. In contrast, commodity currencies and Dollar are trading on the softer side, while Yen is mixed
On Friday, the US jobs report took center stage and it was a fairly decent one – all things considered. Non-farm payrolls more or less came in within estimates while the unemployment rate dropped slightly by 0.1%. While the former (+236K) may have slowed down below its 12-month average (+345K), the latter is lower from
Gold prices rose on Tuesday after falling more than 1% in the previous session, as the dollar eased while investors awaited this week’s U.S. inflation data that could influence the Federal Reserve’s monetary policy trajectory. FUNDAMENTALS * Spot gold was up 0.2% at $1,994.48 per ounce, as of 0036 GMT. U.S. gold futures rose 0.1%
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Oil prices edged higher on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers offset concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6% after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia,
Today’s trading remains relatively subdued, as many markets are still closed for holidays. Canadian and US Dollars are showing mild strength, while Yen struggles as the weakest currency, followed by New Zealand Dollar and Euro. Sterling, Australian Dollar, and Swiss Franc exhibit mixed performance. Most pairs and crosses stay within Friday’s range, except for Yen
Markets: Gold down $16 to $1991 WTI crude oil down 14-cents to $80.55 US 10-year yields down 1.3 bps to 3.37% S&P eminis down 1 point to 4130 Nikkei 225 up 0.2% USD leads, JPY lags There’s something of a re-trading of non-farm payrolls ongoing as the market starts to reopen from holidays and that’s
Gold prices fell on Monday as the dollar firmed after the U.S. non-farm payrolls report pointed to a tight labour market and raised the odds of another rate hike by the Federal Reserve at its May policy meeting. FUNDAMENTALS * Spot gold was down 0.4% at $2,000.57 per ounce, as of 0041 GMT. U.S. gold