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Goldman Sachs weighs in on the trajectory of the USD/JPY currency pair, focusing on its correlation with US yields and the potential risks and factors influencing its direction. Key Insights: Yen’s Usual Behaviour: Historically, even in the absence of a surge in US yields, the yen typically weakens when risk remains relatively supported. This trend

Silver prices fell significantly in recent weeks, dragged down by concerns over Chinese demand, a strong recovery in US yields, and a firmer dollar. In the benchmark London Spot market, prices corrected more than 12% in the last one month while losses were limited to 9% in domestic futures due to a weak Indian rupee.

Japanese Yen is feeling the heat once again, buckling under the surge in major European and US benchmark yields. Notably, yield on Japan’s 10-year JGB did jump, closing 0.655 today. However, this level has acted as a formidable ceiling for a while, even in the wake of BoJ’s recent allowance hike to 1% last month.

Chinese property firm Country Garden set to be removed from Hong Kong’s Hang Seng Index AUD/USD at risk of dropping under 0.60 (unless China stimulates, big time) UBS see limited catalysts that could outweigh the USD/JPY carry trade AUD and NZD marked lower after the People’s Bank of China rate cut is less than expected

Gold prices steadied above 5-month lows on Monday after declining in the previous five sessions, as investors saddled up for central bankers’ gathering in Jackson Hole, Wyoming this week, for outlook on economy and interest rates.FUNDAMENTALS* Spot gold was flat at $1,888.36 per ounce by 0124 GMT, while U.S. gold futures added 0.1% to $1,917.70.*

UPCOMING EVENTS: Monday: PBoC LPR. Wednesday: NZ Retail Sales, AU/JP/EZ/GB/US PMIs, Canada Retail Sales. Thursday: US Jobless Claims. Friday: Fed Chair Powell speaks at the Jackson Hole Symposium (24-26 August). Monday The PBoC is expected to cut the LPR rates by 15 bps as it did the last week with the MLF. The rate cuts

Comex December gold future slid 1.55% through the week as the contract finished around $1916.50, and spot gold was at $1889 an ounce, at its weakest level in five months, pushed down by strengthening USD and surging UST yields amid growing bets for higher for longer interest rates from US Fed from the traders. The

Amidst fluctuating global currencies, MUFG delves into the potential for verbal intervention from Japanese officials, especially as the Jackson Hole Symposium approaches, which may carry significant implications from Chairman Powell’s stance. Key Observations: USD/JPY Surge: There’s been a noteworthy increase in the USD/JPY rate since the Bank of Japan’s (BoJ) policy meeting in July. This

Gold‘s is expected to remain under pressure in the international markets amid a stronger dollar index (DXY) and higher US bond yields, with a rub-off impact on the local prices, as well, when trading resumes next week. The movement will likely remain sideways with limited upside, experts tell ETMarkets. Gold has been losing its appeal

Last week, the financial world navigated a storm of uncertainty and volatility. From skyrocketing treasury yields to the extended declines in equities, from the downward spiral of Chinese stock market to the tumultuous Yuan exchange rate, and not forgetting the unexpected nosedive in Bitcoin. At the same time the dynamics of these developments are closely

Mon: PBoC LPR, German PPI (Jul) Tue: US Richmond Fed Index (Aug), New Zealand Retail Sales (Q2) Wed: EZ/UK/US Flash PMIs (Aug), Canadian Retail Sales (Jun), US New Home Sales (Jul) Thu: Fed’s Jackson Hole Symposium (24-26th Aug), CBRT Announcement, BoI Announcement, BoK Announcement,US Durable Goods (Jul) Fri: Fed’s Jackson Hole Symposium (24-26th Aug), Japan’s

COMEX Gold prices declined for the fourth consecutive week, facing pressure from robust US economic indicators and the slightly hawkish tone of the FOMC meeting minutes. The erosion in gold’s value comes as it broke below the significant threshold of $1,900 per troy ounce and currently hovers near its lowest point since March 2023, a

There was no major news coming out of the Fed chatter. Most of the focus was on interest rates, and stocks. Bitcoin fell toward technical support. Crude oil prices rebounded off of low levels and closed higher on the day, but down on the week. On Friday, if you were to look at the price

Oil prices looked set to close lower this week following seven weeks of gains, as China‘s economic woes eclipse signs of tight supply. The seven-week upswing in prices, galvanised by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), was the longest streak for both benchmarks this year. Brent futures rose

In the face of mounting tumult across stocks, bonds, and the crypto realm, the currency market projects an island of relative calm. Despite the extended rout in equities and treasuries and the dramatic tumble in Bitcoin, the forex market has responded with comparative restraint. A discernible dip in commodity currencies is on display, with Australian

I clearly remember this time of year 15 years ago. It was 5 months after the collapse of Bear Sterns and markets were full of complacency. The Fed was at 2.00% and offering no signals about cutting rates, despite an average of 66K job losses over the past six months. Markets were complacent. The August

Gold prices declined Rs 50 to Rs 59,250 per 10 grams in the national capital on Friday amid a fall in precious metal prices in international markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 59,300 per 10 grams. However, silver jumped Rs 700 to Rs 73,500 per

As the trading week draws to a close, Dollar appears to be finally capitalizing on heightened risk aversion, extending its recent surge. Major European stock indexes are painting a gloomy picture, while US futures points to negative opens. British Pound, once the darling of the markets, has started to wane after an unexpectedly dismal retail