Dollar is staying is the strongest one for the week, as talks of a 100bps hike at the July FOMC meeting heat up. But upside momentum in the greenback hasn’t been really too convincing, except versus Yen. EUR/USD is still trying hard to defend parity for now. Yen, on the other hand, is staying broadly
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As per a government statement, Italy’s PM Mario Draghi will resign. Earlier, the governing coalition survived a vote of confidence despite the 5-Star Movements decision to sit out the vote. The PM later met with France’s President Mattarella but was reported he did not resign. Draghi has said if he did not have the support
The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russia’s war
Dollar stays strong in early US session after release of another record print of PPI inflation. Buying of Dollar is currently concentrated again Yen and Canadian. But the moves in Aussie and European majors are also picking up. Loonie is the worst performing one today, despite the mega 1% rate hike by BoC yesterday. It’s
The dollar is keeping in good stead after the hot US CPI data yesterday, with EUR/USD still flirting with parity and USD/JPY racing above 138.00 on the day. The latter sees buyers establish a firmer footing for a breakout towards 140.00, as Treasury yields also bounce back a little after the retreat yesterday. 10-year yields
NEW DELHI: Gold prices dropped on Thursday after red hot US inflation numbers spooked investors, stoking huge rate hike fears in the upcoming Fed policy meeting. The Federal Reserve is seen ramping up its battle with sky-high inflation with a supersized 100 basis points rate hike at its policy meeting on July 26-27. Gold futures
Yen’s selloff continues in Asian session today, on expectation of further divergence in BoJ’s policy with other major central banks. BoC’s mega 100bps hike overnight prompted talks that Fed could follow later in the month, given that headline consumer inflation is showing no sign of even plateauing. Dollar remains the strongest one for the week,
What a difference a month makes. In May, US CPI rose to 8.6% compared to 8.3% and 10-year Treasury yields surged to 3.50% from 3.02%. This time around CPI was at 9.1% compared to 8.8% expected. 10-year yields initially moved to 3.07% from 2.95% but have since reversed and are now below the pre-CPI level
Gold prices declined by Rs 85 to Rs 50,487 per 10 grams in the local market here on Wednesday, according to securities. In the previous trade, the precious metal closed at Rs 50,572 per 10 grams. Silver prices rose by Rs 161 to Rs 56,179 per kg from Rs 56,018 per kg in the previous
Dollar rises in early US session after data shows that headline consumer inflation accelerated once again in June, to the highest level since 1981. Yen is currently the worst performing one on rise in US and European benchmark yields. But there is prospect for recovery in Yen, except versus Dollar, if risk off sentiment intensifies.
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Malaysian palm oil futures plunged more than 6% on Wednesday due to weak July exports and as fears of renewed COVID-19 curbs in China sparked a selloff in rival Dalian oils. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange slid 276 ringgit, or 6.71%, to 3,840 ringgit ($866.62) a
Sterling is in recovery today, and it’s supported by better than expected monthly GDP data. Yen is currently the softer one. But overall trading is quiet in the currency markets. RBNZ’s rate hike doesn’t give any lift to Kiwi. Canadian Dollar is range bound, awaiting BoC rate decision. Meanwhile, Dollar is consolidating recent gains, awaiting
Oil has been remarkably volatile this month but also remarkably difficult to explain. Move of more than 5% have become routine and 10% moves not uncommon. What’s making it especially tough for oil traders is the lack of a correlation with any kind of news or events. Today’s sharp drop doesn’t correspond with moves in
Oil prices fell sharply on Tuesday on a strong dollar, demand-sapping COVID-19 curbs in top crude importer China and fears of a global economic slowdown. Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48. U.S. West Texas Intermediate crude was down
Dollar’s rally continues today and breached parity against Euro for the first time in two decades. Nevertheless, the greenback seems to be losing some momentum since then, in particular against Yen. There is prospect of a deeper retreat for Dollar as 10-year yield is also weakening slightly. Yen is currently the stronger one for today,
Risk tones are keeping more defensive again, with stock futures pointing lower alongside Treasury yields. The dollar remains in a good spot with EUR/USD staying on track towards parity ahead of European morning trade. USD/JPY is also holding above 137.00 as buyers seek to establish firmer footing for an extended upside push, though lower yields
NEW DELHI: Gold prices were marginally down on Tuesday, hitting multi-month lows as the firm US dollar dented the appeal of the safe-haven metal. Strength in the US dollar makes greenback-priced gold more expensive for buyers holding other currencies. Traders awaited the US consumer price index data, a key measure of inflation, set to be