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The EUR is ending the day as the strongest of the major currencies. The USD is also mostly higher with gains vs all the major currencies with the exception of the EUR. The JPY and the NZD were the weakest of the majors. The strongest to the weakest of the majors. The gains in the

Spot gold closed with a weekly gain of nearly 0.30% at $1,923.81. Two-year US bond yields rose by 5bps, whereas the ten-year yields were up 7bps on a weekly basis. The US Dollar Index closed the week with a gain of 0.20% at 105.33. The week ending September 15 was an eventful one. China’s PBoC,

Commodity currencies were the biggest winners last week as the global tightening cycle draw closer to a prolonged pause. There was some optimism that China’s economy is moving past the worst with improving economic data. The change in sentiment also lift oil prices, which was already lifted by tight supply outlook, and feed back into

The broader major indices closed sharply lower today led by the NASDAQ index which fell -1.56%. The S&P index fell -1.22%. The declines push the indices into the red for the trading week. The Dow industrial average fell -0.83%. For the trading week, Dow industrial average closed up 0.12% S&P index fell -0.16% NASDAQ index

Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combines with optimism that the Chinese economy is finally turning a corner. Crude prices were little changed at 1248 GMT. Brent crude futures gained 8 cents to $93.78 a barrel while West Texas Intermediate (WTI) was up

Japanese Yen registered notable slump today, recording a new low for the year against Dollar, a move driven largely by ascending benchmark yields in the US and European markets. Meanwhile, sentiment in risk markets appears to be on the upswing, partly propelled by encouraging economic data emerging from China, fostering an environment where commodity currencies

This might be what is helping the euro a little so far today, as the FT is reporting that several of the ECB’s more hawkish members are of the view that there could be another rate hike in December if wages and inflation pressures continue to persist. It cites three policymakers in saying that: “I

The medium-term outlook for copper appears optimistic, thanks to the various initiatives undertaken by the Chinese government to support their struggling economy, Saish Dessai, Research Associate, Base Metals, Angel One. Evident signs of this positivity have already emerged, with copper prices reaching nearly 4-week highs recently due to several favourable factors, he adds.While China’s real

Australian Dollar advanced during Asian session, bolstered by stronger than anticipated data emanating from China and the injection of CNY 191B of fresh liquidity into the banking system by PBoC. The injection, which involved CNY 34B through 14-day reverse repos at a reduced rate of 1.95%, down from the prior 2.15%, followed the Chinese central

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 rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories. Saudi Arabia and Russia’s extension of oil output cuts will result in a market deficit through

In a twist of events today, Euro takes a considerable hit following ECB’s dovish rate hike which communicated a possibly peak in the tightening cycle. The downgrading of core CPI and GDP growth forecasts for the coming years – 2024 and 2025 – further aggravates the descent. This bearish sentiment spills over to Sterling and

I’ve been highlighting them since last week already. And if you think that after the dull reaction to the US CPI report yesterday that the data points today might not matter, I would say the opposite could end up being truer. The inflation numbers yesterday served the purpose of reaffirming the narrative that the Fed

Gold traded in the red on Thursday after US retail inflation accelerated, though lower than what was anticipated raising odds for another rate hike. While the jury is still out on whether the Fed will do it in its upcoming monetary policy meeting next week. However the losses were capped on account of slippages in

Australian Dollar rises broadly today, as lifted by stronger than expected headline employment data. But the details are less impressive, as the vast majority of job growth were part-time, while hours worked decline. That’s nonetheless welcome news for RBA, as the job markets while starting to cool, appeared to have absorb prior rate hikes well.

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 plunged Rs 350 to Rs 59,650 per 10 grams in the national capital on Wednesday amid weak cues in global markets, according to HDFC Securities. The yellow metal had ended at Rs 60,000 per 10 grams in previous trade. “Gold declined on Wednesday, with spot gold prices (24 carats) in the Delhi markets trading

Dollar attempts to rally in early US session after modestly stronger than expected US consumer inflation data. But there is no clear follow through buying. Headline CPI’s bounce back to a 14-month high was slightly above expectations. Meanwhile, core CPI’s monthly reading also beat market forecasts. Yet, it appears that traders are not convinced that