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
News
Gold prices climbed Rs 80 to Rs 60,430 per 10 grams in the national capital on Tuesday amid a rise in precious metal prices in overseas market, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 60,350 per 10 grams. Silver also jumped Rs 400 to Rs 77,100 per
Dollar rises broadly today, in the first trading day of August. The greenback is bolstered by mild risk aversion and rallying US yields. Meanwhile, traders are also probably starting to position ahead of the heavy weight data this week. However, the greenback is stuck below last week’s high against Euro so far. Firm break there
S&P 500 futures Eurostoxx -1.0% Germany DAX -1.0% France CAC 40 -1.0% UK FTSE -0.6% Spain IBEX -1.0% Italy FTSE MIB -1.2% It’s not a good look for European indices either as seen above, with US futures also tilting lower on the session. There aren’t any major catalysts but the turn of the month can
India‘s gold demand in 2023 could fall 10% from a year ago to their lowest in three years, as record high prices are dampening retail purchases, the World Gold Council (WGC) said on Tuesday. The lower purchases in the world’s second-biggest gold consumer could limit a rally in global prices. Falling demand for gold imports
Australian Dollar is trading broadly lower after RBA opted to keep interest rates on hold. However, the currency’s losses remain contained was not too much out of expectations. RBA’s continued bias towards tightening, albeit arguably less emphatic than before, is currently helping to limit Aussie’s downside, keeping it within Monday’s trading range, waiting for a
The AUD is the strongest of the major currencies today, while the JPY is the weakest. The USD is ending the day with mixed results to day with modest gains versus the EUR, GBP, CHF and JPY. The greenback is lower versus the commodity currencies led by a -1% decline vs the AUD, a -0.75%
Gold prices fell by Rs 100 to Rs 60,350 per 10 grams in the national capital on Monday amid a decline in the precious metal in global markets, according to HDFC Securities. The precious metal had closed at Rs 60,450 per 10 grams in the previous trade. Silver also dropped by Rs 300 to Rs
Commodity currencies are trading generally higher today on mildly positive market sentiment. Australian Dollar is the stronger one among them, ahead of RBA’s rate decision tomorrow. Opinions on whether RBA would hike by 25bps next month (i.e. August 1 tomorrow) are divided . Major local banks exhibit this split sentiment, with Commonwealth Bank and Westpac
The slightest of beats in the quarterly GDP reading for Q2 will at least provide the ECB some comfort, even as growth conditions are seen slowing down significantly. It is still a positive estimate and it is one that they can use to keep the spin of things if they want to push the agenda
Goldman Sachs on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook. Goldman analysts estimate global oil demand climbed to an all-time high of 102.8 million barrels
Yen extended its late last week’s slide in Asian session today, a downward trajectory that prevailed despite a notable ascent in 10-year JGB yields above the 0.6% mark. Market watchers seemed to have absorbed BoJ’s recent communication effectively — that the added flexibility to its yield curve control doesn’t suggest an impending tightening cycle. As
While details are very thin indeed, the WSJ reports that Saudi Arabia is set to host Ukraine peace talks in Jeddah. Head of Ukraine’s presidential office, Andriy Yermak, confirmed the talks: “The Ukrainian Peace Formula contains 10 fundamental points, the implementation of which will not only ensure peace for Ukraine, but also create mechanisms to
COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback. US Services activity slowed more than forecast in July, however, manufacturing activity rebounded to a three-month high. At the same time, European and UK Services activity eased
Gold prices held near their highest levels in a week in early Asian trading on Thursday after the U.S. Federal Reserve delivered a widely expected interest rate hike and investors digested fairly balanced comments from Chair Jerome Powell. FUNDAMENTALS * Spot gold was up 0.2% at $1,975.05 per ounce by 0114 GMT, its highest since
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 prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data. Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a barrel,
The global financial markets found themselves in a flurry of volatility in the past week, underpinned by policy decision of three major central banks in North American, Europe, and Asia. Yen and Nikkei had the wildest roller-coaster ride in reaction to BoJ’s tweak to their Yield Curve Control. In the end, Yen crosses are maintaining