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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Oil prices slipped in early Asian trade on Thursday as weak manufacturing data in major economies outweighed optimism around a larger-than-expected drop in U.S. crude stocks. Markets are also looking for hints on the outlook for how long interest rates will remain at current levels ahead of a speech by Federal Reserve Chair Jerome Powell
Dollar exhibits renewed vigor in the early US trading hours, marking broad-based gains. While today’s data showcased robust initial jobless claims and a mixed bag for durable goods orders, these don’t seem to be the primary catalysts fueling the Dollar’s ascent. A more plausible driver is the resurgence of treasury yield, with the 10-year yield
It was another subdued forex session in Asia today ahead of the speech from Federal Reserve Chair Powell coming on Friday at 10.05 am US Eastern time. News and data flow was basically non-existent relevant to major FX rates. USD/JPY had a minor swing, down in the Tokyo morning on approach to 114.60 and then
Gold prices hovered near two-week highs on Thursday, lifted by a retreat in the U.S. dollar and Treasury yields as investors waited to see what interest rate signals the U.S. Federal Reserve could send at its annual Jackson Hole meeting. FUNDAMENTALS * Spot gold was up 0.2% at $1,917.50 per ounce by 0124 GMT, close
Euro faces headwinds this week, emerging as one of the more subdued performers, with all eyes set on today’s Eurozone PMI data. Its trajectory, when compared to Yen and Aussie, remains uncertain, as both showed minimal response to their respective PMI releases. Conversely, Dollar’s movement, in anticipation of the PMI release, is expected to be
Prior was 52.3 Manufacturing 47.0 vs 49.3 expected (prior was 49.0) Composite 50.4 vs 52.0 prior “Cost pressures regained some momentum as the rate of input price inflation quickened on the back of greater fuel, wage and raw material costs.” US firms were more upbeat in their outlook for output over the coming year in
Gold prices rose Rs 90 to Rs 59,500 per 10 grams in the national capital on Wednesday amid a jump in precious metal prices in global markets, according to HDFC Securities. The yellow metal had finished at Rs 59,410 per 10 grams in the previous trade. Silver also zoomed Rs 800 to Rs 75,300 per
Sterling and Euro faced a sharp drop today after alarming PMI readings unveiled an unanticipated rapid decline in the service sectors of both the UK and Eurozone. The days of service-driven economic growth seem to be in the rearview mirror, with signs indicating probable contractions in the third quarter for both regions. Canadian Dollar also
JPMorgan says earnings estimates appear too optimistic, citing the most recent earnings season with soft profit growth and less upbeat corporate guidance: firms are seeing demand and prices soften, accompanied by ongoing margin pressure “The consensus 2024 EPS growth rate of 12% appears too optimistic given an aging business cycle with very restrictive monetary policy,
Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers’ gathering that would likely provide cues on interest rates outlook.FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S. gold futures
Yen’s selloff experienced a mild respite during the Asian session, bolstered by a spike in 10-year JGB yield that touched its apex since 2014. However, given the widening yield disparities with both US and European counterparts, the outlook for Yen remains bearish, at least in the foreseeable future. Interestingly, despite US benchmark yields soaring to
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 price climbed Rs 50 to Rs 59,300 per 10 gram in the national capital on Monday, according to HDFC Securities. The precious metal had ended at Rs 59,250 per 10 gram in the previous trade. However, silver remained flat at Rs 73,500 per kilogram. Gold was trading slightly higher amid a weaker rupee and
Euro is currently the weakest major currency in very quiet markets today, with little of note from the economic calendar. Meanwhile, other European majors are soft too, with Sterling just performing slightly better than Swiss Franc. Meanwhile, the rebound in metal prices is helping Aussie recover, while Kiwi is following. Yen is reversing earlier selloff
The US 10-year Treasury yield hit its highest level since 2007 in Monday US time trade. Despite this the US session saw a lower US dollar and higher equity indexes. This set the stage for Asia trade today where regional stocks are mainly higher and the losses for the US dollar have continued, albeit in
Oil prices were up in early trade on Tuesday ahead of data later expected to show a draw in U.S. crude oil and gasoline inventories, though persistent concerns over a slowdown in China’s economy limited the upside. Brent crude was up 10 cents at $84.56 a barrel and U.S. West Texas Intermediate crude was trading
As a fresh week unfolds, global markets seem to tread cautiously, keeping a close watch on the recent undertakings in Asian economies. PBoC’s modest rate cut decision has catalyzed a minor pullback in stocks across China and Hong Kong. In contrast, Japan’s Nikkei shows modest gains, reflecting a divergence in Asian market sentiment. The offshore