Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it’s closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, despite strong rally in treasury yields. For now, Kiwi is the worst performer for the performer among the weak commodity
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The major US stock indices are closing lower and near lows for the day as traders react to the more hawkish Fed rate projections. The Fed now sees a end of year rate of 4.4% which is higher than the markets expectations going into the report. They also see the terminal rate at 4.6% in
Gold prices in the national capital rose by Rs 152 to Rs 49,871 per 10 grams on Wednesday, amid a rise in international precious metal prices along with rupee depreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 49,719 per 10 grams. Silver also jumped by Rs 333 to
Euro is sold off broadly, together with Sterling, after Russia announced partial military mobilization. Reactions in European stock markets are muted, nevertheless. For now, Swiss Franc is the strongest one for today, followed by Dollar, Canadian and Yen. Aussie and Kiwi are mixed. Focuses will now turn to FOMC rate decision first, followed by BoJ,
The key takeaway from Putin’s announcement is that Russia has stepped up its aggression in maintaining a key focus on the conflict in Ukraine and that presents more relative uncertainty to markets. After having seen what happened with natural gas supplies, there is a risk that we could see that carry over to oil markets
NEW DELHI: Gold prices were trading flat on Wednesday, hovering near their lowest levels since April 2022 as investors prepared for the likelihood of another super-sized interest rate hike from the US Fed in its effort to tackle inflation. The dollar index hovered close to a two-decade high marked earlier this month, while the benchmark
Dollar is staying as the strongest one for the week as markets await FOMC rate hike. Yet, the greenback is still held below last week’s high against most counter parts except Loonie and Kiwi. Swiss Franc is also resilient while markets are speculation a larger than expected hike by SNB later on Thursday. Commodity currencies
Putin’s speech today was pre-recorded and all kinds of rumors have been flying around regarding what he will say. It was supposed to come today but it’s been pushed back now until 8 am Moscow time, according to reports. All the schedule changes and buzz have certaintly added to the anticipation. It’s a pre-recorded speech,
Gold prices rose by Rs 24 to Rs 49,766 per 10 grams in the national capital on Tuesday, according to Securities. In the previous trade, the precious metal settled at Rs 49,742 per 10 grams. Silver, in contrast, declined by Rs 222 to Rs 57,192 per kg from Rs 57,414 per kg in the previous
Canadian Dollar falls broadly in early US session after weaker than expected inflation reading. Yet, it’s still undecided on which currency is worst. Dollar is current in the driving seat, as lifted by extended rally in treasury yield. 10-year yield is trading up above 3.5 handle for the first time in more than a decade.
The session yesterday featured a quieter mood as Europe was honed in on Queen Elizabeth II’s funeral. The return of UK markets might offer better liquidity conditions but overall, the look and feel in markets may be fairly more tepid and indecisive as we count down to the FOMC meeting decision tomorrow. The dollar is
NEW DELHI: Gold prices were trading marginally higher but in a tight range on Tuesday as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve. The US central bank is expected to hike rates aggressively in an effort to curb inflation. Inflation concerns have prompted other central banks across
The forex markets are overall mixed. Dollar retreated overnight following the rebound in stocks, but regained some ground in Asian session. Traders are holding their bets for now, ahead of the meetings of four major central banks later in the week, including Fed, BoE, SNB and BoJ. Canadian inflation data, nevertheless, could trigger some volatility
The dollar is now lower on the day on just above every front (JPY and NZD the exceptions). That’s a stark turnaround from early in the day when USD was running higher. The turnaround comes at an interesting time. The dollar is on the cusp of some major breakouts on many fronts. That’s something Greg
Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline. Central banks around the world are certain to increase borrowing costs to tame high inflation this week and there is some
The markets are relatively quiet today with Japan and the UK on holiday. Sentiment is on risk-off side, ahead of central bank rate hikes later in the week. The more notable moves are found in selloff in cryptocurrencies. Dollar is standing firm, together with Swiss Franc and Euro. Aussie and Kiwi are softer together with
The PBOC has been trying to pump the brakes on the recent decline in the yuan but they’re now struggling to draw a hard line on that with USD/CNY breaching past 7.00 once again today. The yuan fixing today was also one of the strongest positive bias for the local currency (relative to estimate) but
NEW DELHI: Gold prices continued to remain under pressure on Monday as investors braced for aggressive rate hikes by major central banks this week, especially from the US Federal Reserve, to tame high inflation. The US Fed’s Federal Open Market Committee is expected to begin its two-day meeting on interest rates on September 20 and