Headlines: Markets: USD leads, AUD lags on the day European equities lower; S&P 500 futures down 0.8% US 10-year yields down 8 bps to 3.998% Gold down 0.4% to $1,929.44 WTI crude down 1.8% to $80.42 Bitcoin up 0.5% to $29,292 It was a quiet session bereft of headlines but there were some decent market
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Gold traded in the red in the early trade on Monday as the dollar index (DXY) strengthened ahead of the July inflation numbers which are due this week. The DXY was trading with a positive bias at 102.29, up 0.24%. The October gold futures were trading with declines at Rs 59,405 per 10 grams on
Today’s Asian session witnessed a revitalized forex market, triggered largely by pivotal economic data releases. Japan’s weaker-than-anticipated wage growth data placed Yen under notable pressure, reinforcing BoJ’s commitment to persist with its ultra-loose monetary policy. Simultaneously, unexpectedly poor trade figures from China exerted downward force on Hong Kong stocks, as well as on Australian and
Moody’s came out with a slew of downgrades in a number of financial institutions. It will be curious to see the impact in the KRE regional bank index tomorrow. MOODY’S DOWNGRADES WEBSTER: Long-term issuer rating to BAA2 from BAA1 Outlook: Stable Moody’s downgrades Associated Banc-Corp: Subordinate to Baa3 from Baa2 Outlook: Stable MOODY’S DOWNGRADES BOK
Gold traded rangebound on Monday though the bias remained negative on account of a positive dollar index (DXY) which has stayed above the 102 mark against a basket of six top currencies. The October gold futures were trading with declines at Rs 59,516 per 10 grams on the MCX in the opening trade, down Rs
Today’s financial markets exhibited subdued activity, with few standout movements. Notably, even as Eurozone’s investor confidence data outperformed expectations, Euro lagged, moving in tandem with Swiss Franc. On the other hand, Sterling is trading mildly higher, echoing the rise of commodity currencies, while Dollar is steady, devoid of fresh buying enthusiasm. The spotlight shifts to
Headlines: Markets: NZD leads, CHF lags on the day European equities lower; S&P 500 futures up 0.3% US 10-year yields up 3.7 bps to 4.098% Gold down 0.3% to $1,935.74 WTI crude down 0.9% to $82.04 Bitcoin up 0.4% to $29,035 It was a quiet session as markets are observing a slower but calmer start
Gold prices declined by Rs 100 to Rs 60,200 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 60,300 per 10 grams. Silver also declined by Rs 200 to Rs 74,800 per kg. In the international
As we are now in the traditional summer quiet period, market activities appear largely subdued, a pattern expected to persist into first half of the week. US Dollar is attempting to gain momentum to revive its recent rally, but it’s still kept way off last week’s peak against other major currencies. Definitive direction for the
According to recruitment and employment Confederation and the accounting firm of KPMG, in August 2023, UK hiring witnessed its steepest decline since mid-2020, as employers hired fewer permanent staff through recruitment agencies due to economic concerns. The hiring rate fell to 42.4 the lowest since the 34.3 in June 2020 when the country was in
Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 30 cents, or 0.4%, to $85.44 a barrel by 0042 GMT, while U.S. West
UPCOMING EVENTS: Monday: Canada Holiday, Swiss Unemployment Rate, BoJ’s Summary of Opinions. Tuesday: NFIB Small Business Optimism Index. Wednesday: China CPI. Thursday: US CPI, US Jobless Claims. Friday: Japan Holiday, UK GDP, US PPI, University of Michigan Consumer Sentiment. Monday: The BoJ’s Summary of Opinions will be scrutinised by market participants for details and clues
COMEX Gold prices are on track for their most significant weekly decline in six weeks, driven by a sell-off in the longer end of the US treasuries and positive US economic data. This situation is potentially putting pressure on the Federal Reserve to maintain its rate hike trajectory. The yield on 10-year US treasuries has
This bull market started with tech and it might die with tech. Amazon shares surged higher today on strong cloud revenue but Apple posted slowing sales, including of the iPhone and that has led to a heavy round of profit taking. Shares are down 4.6%. The entire summer run-up in Apple has now been erased
Demand optimism amid production cuts by Opec-plus countries lifted global oil prices to three-month highs. The most active US NYMEX futures gained almost 17% in July, sending prices well above $80 a barrel level. Tighter supply and expectations that the US Federal Reserve is close to ending its monetary tightening cycle, also aided the positive
Last week ended with Dollar taking center stage as the best performer, driven by significant turbulence in the bond markets that sent long-end yields sharply higher and provided a mid-week uplift. Although the greenback experienced a notable pullback following non-farm payroll report, it still stands poised for potential further gains, should the selloff in stocks
Bank of America (BofA) outlines three primary reasons why dips in the USDJPY exchange rate are likely to be both shallow and short-lived. Despite the Bank of Japan’s (BoJ) recent adjustments to its Yield Curve Control (YCC), BofA maintains its expectation for USDJPY to rise to 147 by September. Key Points: Unlikely Capital Repatriation: BofA
Highlights of the week ended August 4 included a huge surge in long-dated US yields and a US credit rating downgrade by Fitch. Long-term yields surged to fresh cycle high on increased auction borrowing sizes across the board. Ten-year US yields rose to the highest level since October 2022 as the yields rose to 4.2043%