Markets: Gold up $19 to $2047 US 10-yaer yields down 3.4 bps to 3.94% US 2-year yields down 11 bps to 4.15% WTI crude oil up 77-cents to $72.72 S&P 500 up 4 points to 4783 JPY leads, EUR lags The big question everyone is asking for the second day is: Why such a strong
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Oil prices leaped 4% on Friday, as oil tankers diverted course from the Red Sea following overnight air and sea strikes by the United States and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group. Witnesses in Yemen confirmed explosions throughout the country. Brent crude futures were up $3.16, or
Today’s trading in the forex markets reflects a sense of indecision among investors. Dollar, which initially showed signs of recovery, faced an abrupt halt following unexpected decline in US PPI for December. British Pound, despite the release of stronger-than-expected UK GDP data, failed to garner significant support. Japanese Yen is attempting a modest recovery, capitalizing
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
Gold traded in the green on Friday in the opening trade amid slippages in the dollar index (DXY) and on tensions in the Middle East that raised its haven appeal. Despite the uptick, the yellow metal is set to close with the second weekly decline. Taking cues from the international market, MCX February gold futures
Dollar’s fleeting post-CPI rally was very short-lived. The greenback quickly reversed its initial gains and has since been trading within a narrow range against other major currencies. Traders appear relatively unfazed by the stronger than expected inflation readings, with markets still pricing in more than 70% chance on Fed cutting interest rate in March. This
US CPI was the big event for the day and the big event for the week as well. The month-to-month data showed 0.3% increases for both the headline and the core. The YoY saw the core come down to 3.9% vs 4.0% last month but it was higher than the 3.8% expected. The headline CPI
Gold prices edged higher on Thursday, supported by a softer dollar ahead of a consumer inflation report due later in the day that could shed some light on the U.S. Federal Reserve’s interest rate trajectory. FUNDAMENTALS * Spot gold was up 0.2% at $2,028.19 per ounce, as of 0135 GMT. U.S. gold futures rose 0.3%
The financial markets’ initial reactions to stronger than expected US CPI readings are relatively subdued. While there was an immediate response with Dollar and yields rising, and stock futures dipping, these movements lacked significant follow-through. The exception in the currency markets was USD/JPY, which broke through last week’s high. However, this move is attributed to
Yields are lower and stocks are slightly higher but the dollar is finding itself in a steadier spot so far on the session. It was slightly softer earlier in Asia but now, we are seeing dollar pairs keep little changed with most trading flattish. That being said, the ranges for the day leave a lot
Gold traded in a tight range in yet another session on Thursday though the bias was positive following a fall in the dollar index (DXY) ahead of the US inflation print due later today. Taking cues from the international market, MCX February gold futures were trading in the green, around Rs 62,100 per 10 grams,
Dollar saw notable decline against most major currencies, maintaining its softer tone in the Asian trading session today, with the exception of its performance against Yen. This selloff amidst a backdrop of improving risk sentiment, reflected by the uptick in major US stock indexes. Investors’ attention is now squarely focused on the forthcoming release of
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
Gold prices edged up on Wednesday, supported by a slightly weaker U.S. dollar ahead of a critical inflation report that could offer some clues on whether the Federal Reserve will begin cutting interest rates this year. Spot gold gained 0.2% to $2,033.90 per ounce, as of 1148 GMT. U.S. gold futures rose 0.3% to $2,040.00
Japanese Yen continues its decline in today’s subdued trading environment. This selloff gained momentum following the release of disappointing wages growth data, which has tempered expectations for an imminent monetary policy adjustment by BoJ in January. Despite this, April is still considered a more probable time for interest rate hike, heavily dependent on the outcomes
It is much easier to take a straight comparison on how the odds have changed. Here’s a look at things back at the end of December i.e. just two weeks ago: Federal Reserve: -156 bps (first -25 bps in March) European Central Bank: -161 bps (first -25 bps in April) Bank of England: -141 bps
Gold prices held steady on Wednesday, as investors refused to make big bets ahead of a key U.S. inflation print that could offer more clarity on when the Federal Reserve might begin cutting interest rates. FUNDAMENTALS * Spot gold rose 0.1% to $2,031.30 per ounce, as of 0151 GMT, trading in a range of about
Release of Japan’s disappointing wage growth data led markets to scale back expectations of an imminent rate hike by BoJ. The continued lag in wages growth behind inflation undermines the prospects of establishing a virtuous cycle of wages and prices, which is a prerequisite to a BoJ policy shift. Although a rate hike in April