Dollar’s selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and BoC later in the week. Euro
News
Amidst the trickle of news on China’s more targeted approach to coronavirus restrictions and moves towards reopening, this for example: Beijing and Shenzhen have loosened more Covid-19 restrictions Comes this from over the weekend, carried in Taiwanese media: Chinese President Xi Jinping is unwilling to accept Western vaccines despite the challenges China is facing with
Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses. Brent crude futures were down 11 cents or 0.1% at $86.77 per barrel by 1:28 GMT, while U.S. West Texas Intermediate (WTI) crude futures lost 14 cents or
Gold prices were flat on Friday but set for their best week in three ahead of the U.S. jobs report, helped by the dollar’s retreat on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. FUNDAMENTALS * Spot gold was little changed at $1,800.78 per ounce as of 0037 GMT,
The US dollar has given back most of its gains and the initial hawkish reaction to the non-farm payrolls report has been largely erased. That probably reflects that non-farm payrolls are a lagging indicator and that the Fed has already signaled slowing rate hikes to 50 bps. In short, the report wasn’t strong enough to
Urad, and Moong. In the crop year 2022-23, Tur production would remain lower by 9.8% year on year to 3.47 MMT against 3.84 MMT in the previous year. Tur production would drop in Karnataka by 10% to 0.84 MMT, in Maharashtra by 23% to 0.90 MMT and in Telangana by 42% to 0.15 MMT while
The tone of the markets was well set by Fed Chair Jerome Powell’s indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing. Dollar was sold off broadly and closed as
We’re back to where we started. US markets have completely erased the moves after the strong non-farm payrolls report. The S&P 500 is now down just 5 points to 4071 and on track for a weekly close above 200-day moving average for the first time since April. It’s an impressive performance. More curious is the
The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
Yen and Dollar rise broadly in Asian session today while Australian Dollar leads commodity currencies lower. Markets are trading with risk-off sentiment, with deeper selloff in China and Hong Kong markets. Large scale protests were carried out in multiple cities in China over the weekend, and the theme has escalated from anti-lockdown to anti-President Xi
Markets: Gold down $5 to $1797 WTI crude oil down 99-cents to $80.22 US 10-year yields down 2.4 bps to 3.50% S&P 500 down 10 points to 4072 JPY leads, CAD lags The US dollar was soft all week in the lead-up to non-farm payrolls and that was particularly true of USD/JPY in the hours
LONDON -Oil futures were mixed on Friday ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude on Monday. Brent crude futures were up 37 cents, or 0.4%, at $87.25 per barrel by 1441 GMT. U.S. West Texas Intermediate (WTI)
Dollar rebounds notably after a set of solid non-farm payroll data, with strong wage growth. US stock futures take a dive in response to the news, while treasury yields recover. Australian Dollar appears to be responding most negatively for now, as pressured by risk-off sentiment too. But Euro and Sterling are not far away. Yen
We’re approaching another critical juncture now in USD/JPY and as mentioned here yesterday, the break of daily support at 137.65 to 138.45 is now putting scrutiny on the 135.00 level as well as its 200-day moving average (blue line) at 134.49. Sellers are looking adamant to push the agenda as the dollar selling picks up
New Delhi: Gold prices eased on Friday ahead of the US jobs report, but were set to gain for the week amid a soft dollar on prospects of slower US Federal Reserve rate hikes and signs of cooling inflation. Investors await the US Labor Department’s non-farm payrolls data due later in the day for clues
Yen is apparently the biggest winner against the broadly pressured Dollar. Steep declines in US and European benchmark yield gave the Japanese currency much support. Euro is currently the better performer among European majors. Canadian Dollar clearly lags behind other commodity currencies. The greenback will now look into this non-farm payroll data today, which might
Oil rose about $1 a barrel on Thursday, supported by the potential for OPEC+ to cut supply further and as easing COVID curbs in China raised the likelihood of higher demand from the world’s top crude importer. Crude also gained support from dollar weakness prompted by euro zone factory data and the Federal Reserve Chair
Dollar’s selloff picks up momentum in early US session after PCE inflation slowed more than expected in October, while core PCE also declined. The data give a nod to Fed Chair Jerome Powell’s comment that smaller rate hikes could start in December. Yen is the better performer as supported by extended pull back in US