It’s a sensitive time in the market, especially for bonds and the dollar, as evident by the reaction to yesterday’s ADP employment data. Right now, the sharks are out for blood and if there is any further signs of weakness in the US economy, that is enough for traders to pile on the misery for
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Gold prices were trading flat on Thursday in the early trade amid a steady dollar index. The yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price
Dollar’s attempted rally quickly reversed overnight, following disappointing consumer confidence data. Interestingly, equities gained on what some market participants are calling a “bad news is good news” factor. The logic here is that Fed is now less likely to raise interest rates again this year, thereby giving stocks a lift, as Treasury yields also took
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 was perched atop a three-week high on Wednesday as traders positioned for more U.S. economic readings that could further alter the odds of another interest rate hike by the Federal Reserve. Spot gold rose 0.1% to $1,939.23 per ounce by 1152 GMT, its highest level since Aug. 7. U.S. gold futures also rose 0.1%
Dollar is facing accelerated selloff following the release of disappointing ADP private employment data, which showed deceleration in both job and pay growth. Although the employment numbers were by no means dismal, the cooling job market is being perceived as a positive development by Fed and market participants. This perception stems from the notion that
A couple of poor data points yesterday seemed to be enough to cause some jitters about the US economy. That resulted in a big drop in Treasury yields and that took the dollar down along with it. I want to say that in part there is a bit of a squeeze in positioning at play
Gold prices hit a three week high on much needed succor provided by weak US labour data released on Tuesday that triggered a slip in the dollar index (DXY) below the 104 mark and pulled down treasury yields. The MCX October gold futures were trading up by Rs 30 or 0.05% from the Tuesday closing
Euro is trading lower across the board today, additionally dragged down by weaker-than-expected consumer sentiment data out of Germany. This latest indicator has added fuel to concerns that Eurozone’s largest economy may become a drag on the broader region, heightening risk of a looming recession. Meanwhile, Dollar and Swiss Franc also demonstrated weakness, but this
USD/JPY is having a look at 146.00 after touching a 2023 high of 147.36 earlier today. It’s a rapid turnaround as the market re-evaluates the path of Federal Reserve rates and the strength of the US economy. USDJPY 10 mins The drop of more than 120 pips threatens a spinning top formation on daily and
Oil prices were little changed on Tuesday as investors weighed supply concerns from a hurricane hurtling towards the U.S. Gulf Coast against the enduring possibility of demand being dented by another increase to U.S. interest rates. Brent crude edged up by 3 cents to $84.45 a barrel by 1332 GMT while U.S. West Texas Intermediate
In a relatively uneventful trading day, the notable standout is the rally in the USD/JPY currency pair, which has now reached its highest level this year. The bullish momentum for Dollar against Yen raises questions about whether traders are positioning themselves ahead of crucial employment and inflation data set to be released from the US
Major currencies aren’t doing a whole lot though the dollar is mildly softer as we look towards European morning trade. The ranges are still relatively narrow, so let’s see if there will be any appetite to stretch them out later on. Stocks are at least enjoying a decent showing since Friday last week, with the
Gold futures traded positive in early trade on Tuesday amid weakness in dollar index (DXY) and slippages in the US bond yields ahead of the inflation and jobs data scheduled for a release this week. The MCX October gold futures were trading up by Rs 85 or 0.14% from the Monday closing price at Rs
Asian equities witnessed an upswing today, buoyed by China’s announcement of several initiatives aimed at enticing investors back into the market. Among these measures, the decision to trim the stamp duty on stock transactions and a more gradual roll-out of initial public offerings captured investors’ attention. Adding to the positive sentiment was the unexpected move
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 rose on Monday after China took steps to bolster its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand. China halved stamp duty on stock trading in its latest attempt to boost struggling markets. The market is also keeping an
Trading in the forex market today saw a tempered tone, with most major currencies trading in a tight range due to a sparse economic calendar. An early uplift in market sentiment was observed, largely attributed to China’s strategic moves aimed at boosting investor confidence. This positive wave continued into the early US trading hours, though