Despite the S&P 500 finding a bounce off its 200-day moving average last week, equities remain in a softer spot and the negative risk mood is largely weighing on the aussie and kiwi at the moment. The charts are doing all the talking right now and in the case of AUD/USD, it is shaping up
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Gold prices edged up on Monday as the dollar eased, but hovered near their lowest levels since late December after U.S. economic data last week raised worries that the Federal Reserve could hike interest rates further. FUNDAMENTALS * Spot gold was up 0.1% at $1,813.30 per ounce, as of 0056 GMT. U.S. gold futures firmed
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
Wheat sowing commenced before last year and fared well in the initial days. However, by the end sowing remained marginally higher by 0.41% from the previous year, wheat sowing was done on 34.32 Mn Ha as compared to 34.18 Mn Ha a year ago. Farmers preferred to increase wheat acreages as the wheat prices remained
The calendar turns to March on Wednesday and the rule of thumb is that non-farm payrolls comes on the first Friday of the month. So why is the jobs report scheduled for March 10 instead of March 3? The short answer is that the rule of thumb is wrong. The slightly-longer answer is that it’s
The year 2022 was a tough period for silver. Uncertainty surrounding China’s industrial demand, a firmer US dollar, and rising global interest rates made it the worst-performing asset in the precious metal complex last year. In the benchmark London spot market, silver started trading at $23.29 an ounce but plunged to a two-year low of
When you zoom out and look at the weekly oil chart, all the volatility seems to spill away. There have been plenty of whippy moves in the past few months but it’s all taken place in a range of $70-85. This week, oil bounced around again but closed almost perfectly flat on the week after
Gold has continuously been under downside pressure for the last few weeks as the financial markets have started repricing US interest rate risk amid rising inflationary pressure and some key economic indicators turning out to be much better than expected. The US personal consumption expenditures gauge rose more than forecast amid robust personal spending, which
Dollar rose broadly last week and ended as the strongest one, as markets added bets on a higher Fed terminal rate after re-acceleration in inflation data. Sterling ended as second after strong services data, which also supported Euro, while Canadian was the third after higher than expected inflation reading. Aussie was the worst performer on
Markets: S&P 500 down 44 points to 3975 US 10-year yields up 6.6 bps to 3.95% WTI crude oil up $1.19 to $76.58 Gold down $11 to $1811 USD leads, JPY lags Friday’s PCE inflation report certainly didn’t cool worries about rising prices as all the main numbers in the report aside from income ran
NEW YORK -Oil prices edged higher in volatile trade on Friday, bolstered by the prospect of lower Russian exports but pressured by rising inventories in the United States and concerns over global economic activity. Brent crude futures were up 54 cents, or 0.7%, at $82.75 a barrel by 11:31 EST (1631 GMT). West Texas Intermediate
The forex markets are generally quiet today, with most major pairs and crosses staying inside yesterday’s range for now. Dollar is staying in a pole position for the week, maintaining most of the gains. The greenback will look into today’s PCE inflation data for next move. Euro and Swiss Franc are both on the weaker
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
Gold price fell Rs 80 to Rs 55,840 per 10 grams in the national capital on Friday amid weak global trends, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 55,920 per 10 grams. Silver also tumbled Rs 767 to Rs 64,517 per kilogramme. “Spot gold prices in the
Dollar jumps in early US session follow data that showed surprised re-acceleration in PCE inflation, and core. Stocks tumble at open while treasury yields rise. The situation for Fed interest to “stay longer and higher” continues to solidify. Selloff is more concentrated on Yen and commodity currencies while European majors are mixed. Technically, USD/JPY will
So, what’d I miss? It seems like the choppy market mood is still playing out and just when you thought that the bond market would take charge again, we are seeing yields run back the other way on the week now. 10-year Treasury yields had been poised after a climb up to its highest since
Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.7%, to $82.82 per barrel by 0215 GMT. West Texas Intermediate crude futures (WTI) rose 63 cents, or 0.8%, to $76.02 a barrel.
New Zealand Dollar rises broadly today after hawkish RBNZ hike. But other commodity currencies are lagging behind on risk-off sentiment. As for the week so far, Sterling remains the strongest, as supported by optimism on avoiding recession. Dollar followed as second as supported by rising treasury yields, and then Swiss Franc. Aussie is the worst,