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
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MCX Gold prices got a breather on Friday from the ongoing correction as the dollar index slipped slightly. Gold traded with a positive bias at the market opening time. The MCX December gold futures were trading up by Rs 7 or 0.01% from the Thursday closing price at Rs 57,853 per 10 gram on the
The global markets experienced a noticeable shift in momentum as major US stock indexes concluded with substantial gains overnight, and treasury yields took a step back. This favorable swing persisted into Asian trading hours, marked by a remarkable rebound in Hong Kong stocks. Australian Dollar has been on the upswing, further bolstered by Copper’s resurgence
Markets: Gold down $8 to $1866 WTI crude oil down $1.96 to $91.72 US 10-year yields down 4.9 bps to 4.58% S&P 500 up 0.6% AUD leads, USD lags Thursday was a reversal of the recent price action in markets but there wasn’t a particular catalyst. To be sure, the consumer spending data in Q2
Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session. U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%,
Dollar is experiencing a broad retreat today, reflecting a phase of consolidation after its notable advancements in the recent days. Market participants are seemingly recalibrating their positions, with the closure of the month in sight and in anticipation of pivotal economic data slated for release next week. While the rise in US 10-year yield continues
The greenback is down slightly on the day but I wouldn’t really read too much into it, at least for now. EUR/USD is up 0.15% to 1.0515 while GBP/USD is up 0.35% to 1.2175 on the day. In comparison to the moves this week, the changes today don’t mean anything much. Not especially when Treasury
MCX Gold prices traded at six month lows on Thursday getting beaten by the uptick in the dollar index (DXY) which is inching towards the 107 mark against a basket of six major currencies. The MCX December gold futures were trading down by Rs 91 or 0.16% from the Wednesday closing price at Rs 58,192
Dollar’s strength remains unabated, particularly against its European counterparts and Yen. The greenback rose alongside 10-year yield, which soared past the 4.6% mark overnight, a level unseen in over 15 years. The surging global treasury yields are a clear indicator of the market’s expectation for a prolonged period of restrictive monetary policies by central banks
The US dollar index (DXY) is closing at the highest levels in 10 months (end of November 2022). The dollar has risen 5 of the last 6 trading days. The biggest gainer for the USD was versus the AUD with a rise of 0.72%. The EUR (0.63%) and CHF (0.62%) were also solidly higher on
Oil prices surged about 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of supply tightness amid OPEC+ production cuts. Brent crude futures breached $97 a barrel, and was trading up $2.55 to $96.51 a barrel by 11:40 a.m. ET (1540 GMT). U.S. West Texas Intermediate crude futures (WTI) climbed
Dollar rally shows no signs of stopping in early US session, and the greenback it buoyed slightly by stronger than expected data on durable goods orders. Yet, looming in the background is the potential for the fourth US government shutdown in the last ten years, a scenario that’s only days away. Minneapolis Fed President Neel
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 were hovering at two month lows with an unrelenting greenback, triggering the slide. The MCX October gold futures were trading down by Rs 182 or 0.31% from the Tuesday closing price at Rs 58,250 per 10 gram on the MCX while the December Silver futures were trading at Rs 71,110 per kg, lower
Amid the backdrop of surging treasury yields, Dollar has pressed on, extending its recent rally. The mounting sentiment of risk aversion has provided additional tailwinds for the greenback, especially after the DOW experienced its sharpest decline since March. For now, Yen emerges as the day’s runner-up in strength, shadowed closely by Canadian Dollar. Conversely, Australian
JP Morgan analysts on slower inflation – say that firms that benefited from the inflationary spike in the past two years may lose the power to charge higher prices for their goods and services, which is a headwind for their stocks and the equity markets in the remainder of 2023. However, the analysts argue that
Oil prices rose by about 1% after reaching a two-week low earlier in the session on Tuesday, as investors weighed expectations of tighter supply against demand concerns stemming from an uncertain economic outlook. Brent crude futures were higher by 83 cents, or 0.89%, at $94.12 a barrel at 1:33 p.m. EDT (1733 GMT), while U.S.
Dollar, although retaining its strength, is witnessing mild deceleration in upside momentum as US session starts. The spotlight now shines on any potential progress within the US Congress to prevent a partial government shutdown looming this Sunday. While the notion of a shutdown isn’t unfamiliar in the US, having occurred 14 times since 1981, this