Dollar’s recovery is starting pick up momentum in early US session, as risk off sentiment deepens. The development is reflected in broad based selloff in Australian and New Zealand Dollar. Sterling is also weak as mild reaction to UK’s new budget statement. Canadian Dollar and Euro are the firmer ones next to Dollar, while Yen
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After the whole ‘mini-budget’ fiasco, which culminated in Liz Truss losing her position as prime minister, we are now seeing calmer tones in UK politics but not necessarily that much for the better. The fiscal statement today will be a stark contrast to Trussnomics as UK chancellor, Jeremy Hunt, will unveil a package of tax
NEW DELHI: Gold prices were trading lower on Thursday, slipping on the back of a firm US dollar after better-than-expected US retail sales data clouded hopes of a smaller rate hike. On the other hand, Poland’s president on Wednesday said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears
The forex markets are still engaging in corrective trading in Asian session today. Despite stronger than expected job data, Aussie trades lower following mild risk-off sentiment. Kiwi, Loonie and Sterling are are softer. On the other hand, Dollar, Yen and Swiss Franc are the firmer ones, while Euro is mixed. For now, the selling in
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Gold prices rose by Rs 320 to Rs 53,449 per 10 grams in the national capital on Wednesday in line with firm global trend and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 53,129 per 10 grams. Silver, however, dropped Rs 125 to Rs 62,682
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday’s range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side. Sterling and Canadian Shrug respecting inflation
It all started with markets fearing the worst, that is Russia stepping up its aggression before the US and allies started to realise that perhaps something is amiss here. That was enough for the risk mood to recover a little but now we are seeing a better recovery ahead of European trading as US officials
Gold prices rose, nearing three month high in Wednesday’s trade as cooling US inflation signalled bets for smaller rate hikes. Rekindled geopolitical tensions due to missile blast in Poland also pushed gold prices higher. Gold futures on were trading up by 0.48% or Rs 254 at Rs 52,999 per 10 grams. Similarly, silver futures jumped
The selloff in Dollar overnight didn’t last very long. The greenback is trying to recovery in Asian session, as traders turned cautious on news that Poland was struck by a Russia-made projectile. But overall trading is subdued so far. Aussie and Kiwi are the strongest ones for the week at this point, supported by optimism
At least 2 people are dead after Russia missile lands in NATO state Poland on the Ukraine border (CLICK HERE for the story). It is unclear if the missiles are from Russia’s mass bombardment of Ukrainian cities earlier today. It is reported that over 100 rockets were launched. US stocks have moved lower on the
Oil prices fell by over $1 a barrel on Tuesday as rising COVID-19 cases in China heightened fears of lower fuel consumption from the world’s top crude importer. Brent crude futures were down $1.08, or 1.16%, to $92.06 a barrel at 1435 GMT, while U.S. West Texas Intermediate crude fell $1.13, or 1.32%, to $84.74.
Dollar selloff resumes today on the back of extended rally in the stock markets and decline in treasury yields. Selloff in particularly apparent against Euro and Sterling, and to a slightly lesser extent Aussie. Yen also manages to resumes recent rally against the greenback. But Swiss Franc is lagging behind, as dragged down by selloff
The previous narrative in markets over the past few months was to buy the dollar, sell everything else. Right now, we’re in the midst of a correction or retracement of said narrative and it is pretty much sell the dollar, buy everything else. Stocks and bonds are higher again today and that is pinning the
Gold hovered near a three-month high on Tuesday, as a top U.S. central bank official’s comment raised hopes that the Federal Reserve would adopt a less aggressive approach on rate hikes, while a stronger dollar kept gains in check. FUNDAMENTALS * Spot gold was steady at $1,770.70 per ounce, as of 0122 GMT, after hitting
Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen is clearly soft but selling hasn’t really take off yet. Commodity currencies are currently having a slight upper hand against
Bank of America Global Research goes long US vs EU real yields long to protect against crowded positioning and sticky US inflation. The US CPI print led to a sharp rally in rate markets: one 25bp rate hike was taken out of the front-end, 10y real yields rallied some 25bp too, with a 35bp rally
LONDON: OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the