Dollar is staying largely in range after mixed retail sales data from the US. Today’s focus turns to selloff in Sterling, in particular against Swiss Franc and Euro. Yen weakens mildly after yesterday’s rebound quickly lost momentum. Commodity currencies are trading on the soft side. In other markets, major European indexes are mixed while US
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NEW DELHI: Gold prices slipped sharply on Thursday as the strong US dollar weighed on the sentiment. Expectations of another big rate hike from the US Federal Reserve further dented the yellow metal. The dollar index edged towards recent peaks as hotter-than-expected inflation data boosted bets for even more aggressive monetary policy tightening by the
The markets are overall steady in Asia today. Yen attempted a rebound yesterday but there was no follow through buying so far. Dollar’s rally also lacks sustained push. While commodity currencies are staying as the worst performer for the week, there is sign of some live against Euro. But that’s probably more due to Swiss
Andersson is the leader of the Swedish Social Democratic Party and has been PM since 2021. Her party held 100 of 349 seats before the election and will have the most seats again but it likely won’t be enough to form a coalition. Instead, the anti-crime, anti-immigration Sweden Democrats led by Jimmie Akesson will have
Gold price in the national capital declined Rs 265 to Rs 50,616 per 10 grams on Wednesday despite rupee depreciation, according to HDFC Securities. The price of the yellow metal had touched Rs 50,881 per 10 grams on Tuesday. However, the COMEX spot price of gold was marginally higher at USD 1,705 per ounce compared
Yen is shrugging off rally in US and European benchmark yields today, and rebound on threat of intervention in Japan. European majors are also finding some foots while Dollar turned mixed. Still commodity currencies are under broad based selling pressure. While US futures might point to a flat open, selling could come back later in
The dollar ran riot in trading yesterday after the US CPI data, in which we saw a fall in EUR/USD from near 1.0180 all the way to below parity. In turn, we also saw a firm break below the 100 and 200-hour moving averages and that is keeping a more bearish near-term bias in the
Crude oil prices have been in a downward spiral for the last three months in a row and hit an eight-month low last week. Prices have erased the entire geopolitical risk premium and are back at the levels when Russia first attacked Ukraine in February 2022. Crude prices cruised as high as $139 a barrel
Dollar surged overnight, partly as traders added bet of another aggressive rate hike by Fed next week, and partly on deep risk aversion. Though, there is no follow through buying in Asia, as the greenback is now consolidating gains. On the other hand, Yen appears to be talked up by Japanese officials, and reports that
The NZDUSD is trading to a new 2022 low taking out the low from last week at 0.59956. The pair is trading at the lowest level since the week of May 17, 2020. The pair is also moving below the natural support level at 0.6000. Short term traders may now use that level as a
Gold price in the national capital declined by Rs 314 to Rs 50,905 per 10 grams on Tuesday amid rupee appreciation, according to HDFC Securities. The price of the yellow metal touched Rs 51,219 per 10 grams on Monday. However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared
Dollar rebounds strongly in early US session after stronger than expected consumer inflation reading. 10-year yield jumps sharply and breaks above 3.4% handle DOW futures are down over -300 pts at the time of writing. The case for a 75bps hike by Fed is pretty much sealed. The question is whether markets will bet on
Prior +73k; revised to +77k July ILO unemployment rate 3.6% vs 3.8% expected Prior 3.8% July employment change 40k vs 128k expected Prior 160k July average weekly earnings +5.5% vs +5.4% 3m/y expected Prior +5.1% July average weekly earnings (ex bonus) +5.2% vs +5.0% 3m/t expected Prior +4.7% The jobless rate declined to 3.6% and
Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path. FUNDAMENTALS * Spot gold rose 0.1% to $1,725.70 per ounce, as of 0041 GMT. * U.S. gold
Dollar and Yen are staying as the weakest ones for the week as focus turns to US inflation data. European majors are the strongest ones so far, even though Euro’s rise is losing some momentum. Commodity currencies are mixed for now, despite improving risk sentiment. Technically, EUR/JPY’s rally is slowing ahead of 61.8% projection of
MUFG Research expects USD/JPY to continue rising higher in what’s been the best trend trade in FX in years. They continue to like a prior recommendation of buying USD/JPY at 140.00 with a target of 146.00 (last week’s high was 144.99) and a stop at 136.50. “We are maintaining a long USD/JPY trade idea although
Gold prices ticked higher on Monday as the dollar hovered near recent lows, with investors’ focus being on a key U.S. inflation reading as it could influence the size of the Federal Reserve’s next interest-rate hike. FUNDAMENTALS * Spot gold rose 0.1% to $1,717.17 per ounce, as of 0057 GMT. * U.S. gold futures were