Today’s release of US ADP jobs data, showing stellar job growth yet continuing slowdown in wage growth, has left Dollar traders seemingly indecisive. Treasury yields have surged post-release, with 2-year year yield hitting its highest level since 2007 and benchmark 10-year yield breaking 4% threshold. US futures have also seen a tumble, driven by expectations
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The dollar saw a decent bid in trading yesterday, backed by softer risk sentiment in markets. Equities held lower upon the return of Wall Street and we are seeing that negativity persist to today. US futures are down roughly 0.3% and the greenback is once again keeping steadier alongside the Japanese yen in Asia trading.
Gold prices were flat in early Asian trade on Thursday as investors digested minutes from the Federal Reserve’s latest meeting, while positioning for a raft of economic data that could influence the U.S. central bank’s policy trajectory. FUNDAMENTALS * Spot gold was unchanged at $1,917.09 per ounce by 0022 GMT. U.S. gold futures shed 0.2%
Yen and Dollar are gaining momentum in today’s trading as market sentiment appears to have soured in Asia. The development could be interpreted more as a response to escalating US-China tensions rather than hawkish tone of FOMC minutes released overnight. After all, the minutes just reinforced expectations of further monetary tightening, despite a pause in
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Gold price remained flat at Rs 59,280 per 10 gram in the national capital on Wednesday, according to HDFC Securities. However, silver climbed by Rs 200 to Rs 71,500 per kilogram. “Gold traded flat on Wednesday, with spot gold prices in the Delhi markets trading at Rs 59,280/10 gram, unchanged from its previous day close,”
Dollar and Japanese Yen are posting marginal gains as market attention shifts towards the release of June FOMC meeting minutes. Concurrently, major European indices are slightly down, reflecting a similar sentiment in US futures market. This development has put commodity currencies on the back foot. However, neither Dollar nor Yen has demonstrated enough strength to
It’s about time that the new week gets started and hopefully things will pick up later in Europe. And if not, surely when Wall Street steps back in later in the day. For now, we are seeing a quieter mood with the lack of appetite in the first two days still persisting. Major currencies are
Oil prices eased on Wednesday, paring the previous day’s gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August. Brent crude was down 14 cents, or 0.2%, at $76.11 a barrel by 0027 GMT, after
Commodity currencies are maintaining their position as the stronger performers of the week, while overall trading continues in a noticeably subdued manner. Both Dollar and Yen are seen navigating within familiar ranges against their European counterparts. Market volatility might experience a slight uptick as US traders return from holiday break today. While FOMC minutes are
The west and China continue to slip towards a meaningful trade war. The US announced it would curb exports of AI chips to China and now China has announced it will control exports of gallium and germanium, two rare earth metals. The metals are used in chipmaking and electric vehicles. The announcement will be top
Oil prices ticked higher on Tuesday as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook. Saudi Arabia on Monday said it would extend its voluntary output cut of 1 million barrels per day (bpd) to August while Russia and Algeria volunteered to lower their August
Australian Dollar dips slightly after RBA decided stand pat. But it hasn’t seen substantial follow through selling pressure yet. While the decision might have surprised half of the market participants, it doesn’t change the tightening path of the central bank. It’s more of a decision on delivering the hike today or in August. What next
The dollar continues to keep somewhat steady so far this week as there isn’t much appetite all around in markets. It is a sort of extended holiday in the US since the weekend, with today being Independence Day (there was early market closure yesterday). The lack of direction looks set to carry over to Europe
Gold prices edged slightly lower in early Asian trade on Tuesday, as traders awaited the U.S. Federal Reserve’s minutes of the June meeting for more clues on its interest rate hike path ahead. FUNDAMENTALS * Spot gold edged 0.1% lower to $1,919.95 per ounce by 0107 GMT, while U.S. gold futures were down similarly to
Asian markets began the trading week on a high note, largely driven by a rise in Japan’s Nikkei index, which was buoyed by encouraging results from BoJ Tankan Survey. Meanwhile, market participants seemed to overlook weak data from China’s manufacturing sector. Australian and New Zealand dollars led the other currencies, experiencing broad gains, closely trailed
Prior month 0.4% revised from 1.2% previously reported Total Construction: Construction spending was estimated at a seasonally adjusted annual rate of $1,925.6 billion, a 0.9 percent increase from the revised April estimate of $1,909.0 billion. The May figure is 2.4 percent higher than the May 2022 estimate of $1,880.9 billion. In the first five months
Gold prices slipped on Monday on a stronger dollar index (DXY) following the possibility of a further interest rate hike by the US Federal Reserve gaining ground. The Federal Open Market Committee (FOMC) will meet later this month. The DXY was hovering close to 103 against a basket of six major currencies. The August Gold