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
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NEW DELHI: Gold prices extended their fall on Tuesday as a firm dollar and prospects of further oversized rate hikes by the US Federal Reserve dented the zero-yielding asset’s appeal. After stronger-than-expected US labour data, the focus is now on the inflation reading, due on Thursday, which is expected to remain stubbornly high. Gold futures
The majority of Dollar bulls appear to be staying on the sideline today. Despite earlier rally attempt, the greenback starts to pare back some gains into US session. US futures are also trading flat in very tight range. Investors are holding their bet ahead of a wave of speeches of central bankers, and more importantly,
The US data calendar is light but we’ll get a full slate of central bank speakers from around the globe along with the World Economic Outlook from the IMF at 9 am ET. The mood in markets is improving at the moment and the US dollar is giving back some gains. Commodity currencies are recovering
Gold price fell by Rs 343 in the national capital to Rs 51,105 per 10 grams on Tuesday amid a decline in the prices of the precious metal in the international market, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 51,448 per 10 grams. Silver also tumbled by
Dollar extends its near term rally in Asian session, with support from risk-off sentiment, while US 10-year yield is flirting with 4% handle. Yen is also firm, and has the potential to overwhelm the greenback if Japan steps into the markets again. Commodity currencies are the weakest one so far, with Aussie being the worst.
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
Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday. The producer is keeping supplies to Asia steady despite likely production cuts by tapping on inventories, the sources
MARKET MOVING EVENTS: Thursday: US CPI. Last week we got three important reports: the US ISM Manufacturing and Services PMIs and the US NFP. The former leading indicators point to a significant deceleration in the manufacturing sector and more cooling in the services sector, while the latter lagging labour market report keeps on showing strength.
Gold prices in the national capital dropped Rs 543 to Rs 51,625 per 10 grams on Monday amid a decline in the prices of precious metal in the international market, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 52,168 per 10 grams. Silver also tumbled by Rs 2,121 to
Asian markets trade broadly lower today, extending the risk-selloff late last week. Dollar, Yen and Swiss Franc are trading higher on risk-aversion, as usual. Aussie is currently worst performer, while Kiwi and Sterling are trailing. Euro is mixed for now, but looks vulnerable too. Technically, one focus is whether EUR/USD would finally make up its
It’s the sports day holiday in Japan and the #1 spectator sport in the FX world is guessing with the Japanese ministry of finance will be forced to do another round of intervention. They struck in late September after USD/JPY rose to 145.90 on a squeeze above the figure. The pair is up 15 pips
Oil futures inched lower on Friday as a firm dollar weighed on prices ahead of key U.S. jobs data, although benchmarks were headed for a weekly gain on OPEC+’s move to cut production. Brent crude futures were down 25 cents, or 0.26%, to $94.17 a barrel at 0649 GMT. WTI crude futures were down 25
Caixin Services Purchasing Managers’ Index (PMI) for September 2022 came in at 49.3 from 55.0 in August China’s economy is struggling under the weight of ongoing COVID outbreaks and the imposition of restrictions on activity. As well as the imploding property sector, burdened by debt servicing issues. After August’s improvement, the roller-coaster has taken the
Silver recovered from a two-year low on the escalation of geopolitical tensions, recession worries in key economies, and seasonal demand. Though the post-pandemic industrial demand helped commodity prices to stream higher, silver prices were reeling under the bearish grip. Silver was the worst performer among precious metals in 2022. The metal has lost more than
USD/JPY is up 20 pips today and trading at 145.30. In all liklihood that will be the highest close in 20 years for USD/JPY and it’s the highest intraday trade since they intervened at 145.90. The Ministry of Finance may be pressed to intervene again. The problem is that they’re fighting a fundamental battle. The
Diwali festival in India, retail gold demand tends to pick up, offering a floor to global gold prices or the potential impetus to push prices seasonally higher. Several years of lower-than-expected gold demand suggest that there is room for an uptick in demand in Q4 2022 for India’s second-largest import by value. India plays a
After a brief recovery, risk sentiment turned sour again towards the end of the week. Solid data from the US that solidify expectation for continuous aggressive Fed actions was a factor. Strong rebound in oil price also raised concern of a second wave in inflation. The overall development suggests that risk sentiment remains fragile, and