BoJ and Davos were the major focuses of last week. Much volatility was seen in Nikkei, JGB yields, and Yen. As dusts settled, the Japanese currencies ended as the worst performer, but closed inside prior week’s range. Australian Dollar was the next weakest after poor job data. Dollar was the third, after many Fed officials
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The major stock indices are moving higher led by the NASDAQ which is up nearly 2% as Feds Waller’s comments are less hawkish than a feared. Dow Industrial Average is up 155 points or 0.47% at 33199.71 S&P is up 48.24. or 1.24 percent at 3947.01 NASDAQ index is up 213.41 points or 1.96% at
The year 2022 was the most volatile period ever for natural gas prices. Issues in the global supply chain of energy commodities due to the Russia-Ukraine war, export hindrances from the US, and unexpected weather conditions in major energy consuming countries resulted in unusual price fluctuations throughout the previous year. The benchmark US NYMEX gas
There was little in the way of economic data today, but there was some final Fedspeak to end the week. It also would the last opportunity for Fed officials to speak ahead of their blackout period before the Fed meeting and decision on February. Fed’s George and Waller were both speaking. George is not a
QNew Delhi, Gold prices jumped by Rs 433 to Rs 57,025 per 10 grams on Friday amid a rally in the metal in the global markets, according to HDFC Securities. The precious metal had ended at Rs 56,592 per 10 grams in the previous trade. Silver also zoomed Rs 990 to Rs 69,208 per kg.
Yen’s weakness continues into US session after BoJ Governor Haruhiko Kuroda repeated his dovish stance. Swiss Franc is also trading notably lower, reversing some of this week’s gains. Aussie, Kiwi are extending recovery but there is no clear upside momentum. For the week, Sterling is still the strongest, followed by Swiss Franc while Yen is
Prior -0.4%; revised to -0.5% Retail sales -5.8% vs -4.1% y/y expected Prior -5.9%; revised to -5.7% Retail sales (ex fuel) -1.1% vs +0.4% m/m expected Prior -0.3% Retail sales (ex fuel) -6.1% vs -4.4% y/y expected Prior -5.9%; revised to -5.6% This is but another sign that the UK consumer is suffering as retail
Gold prices moved higher and look set for fifth consecutive weekly gains as investors bet on the safe haven amid uncertainty over the US Fed Policy. On Friday, gold futures were up 0.21% or Rs 121 at Rs 56,666 on . Analysts also attributed the rise in gold prices to fresh positions built by participants.
Yen weakens broadly in Asian session despite data showing that inflation hit a four-decade high. Speculations on any BoJ move should cool for a while, given that there is no meeting until March. There is room for Yen to correct lower to digest recent rally. Meanwhile, the Japanese currency is also the worst performer for
It was a back-and-forth session for equities on Thursday as early selling reversed back to unchanged, then the bears sold again late. The FX market took a more upbeat view with commodity currencies climbing from the early-NY lows and cable finishing the day 50 pips higher. Closing changes: S&P 500 -0.7% Nasdaq -0.9% Russell 2000
Gold prices fell by Rs 52 to Rs 56,475 per 10 grams in the national capital on Thursday amid weak global trends, according to Securities. The precious metal closed at Rs 56,527 per 10 grams in the previous trade. Silver also tumbled Rs 850 to Rs 68,500 per kg. “Spot gold prices in the Delhi
Euro is lifted slightly by hawkish comments from ECB officials, as well as the meeting accounts. But overall, it’s risk-on sentiment that matters more for now, supporting Yen and Dollar too. Commodity currencies are so far the worst performers, with Aussie also weighed down by poor job data. Sterling and Swiss Franc are currently mixed.
What looked like a potential upside break yesterday ended up being a massive disappointment for AUD/USD buyers as they once again fail to clinch a daily break above the 0.7000 mark. The drop in US trading wasn’t helped by a turnaround in market sentiment, with a slide in equities and the dollar picking up some
Gold prices continued to trade on a volatile note as hawkish comments from US Fed policymakers pushed traders to trim positions while fall in the US dollar kept the downside checked. On Thursday, gold futures erased early losses and rose marginally or 0.06% to trade at Rs 56,317 on . Earlier in the week, gold
Australian Dollar tumbles broadly today after weaker than expected job data. Overall risk-off sentiment is also pressuring commodity currencies. On the other hand, Yen and Swiss Franc are strengthening together with Dollar. As for the week, Swiss Franc and Sterling are currently the best performer, thanks to additional support from buying against Euro. Aussie and
There’s a great two-part series in the Financial Times this week by Patrick McGee about how Apple’s entire supply chain is enmeshed with China and how it will be nearly impossible for it to extricate itself. McGee highlights that 95% of all Apple products are manufactured in China and that Tim Cook was the architect
Oil prices rose on Wednesday to their highest since early December on optimism that the lifting of China‘s strict COVID-19 curbs will lead to a fuel demand recovery in the world’s top oil importer. Brent crude futures were up $1.12, or 1.30%, to $87.04 a barrel by 1352 GMT, while U.S. West Texas Intermediate (WTI)
Sterling and Swiss Franc rise notably today, with help from the buying against Euro. The common currency is weighed down by talks of slower ECB tightening in March, but remains resilient against Dollar. Nevertheless, the Pound and Swissy are outshone by Kiwi for now. Yen is starting to reverse some BoJ triggered selloff in early