Euro leads Sterling and Swiss Franc higher today, and stays firm so far. The common currency was apparently lifted by hawkish comments from ECB official over the weekend. Sterling shrugs off slightly worse than expected GDP and production data. Dollar and Yen are currently the weakest ones. Commodity currencies are mixed for now, with Canadian
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Prior -0.6% GDP 0.0% vs +0.1% 3m/3m expected Prior -0.1% Looking at the details, services was the main contributor to the rise in GDP as it grew by 0.4% in July – after a fall of 0.5% in June. Information and communication grew by 1.5% and was the largest contributor to the services growth in
NEW DELHI: Gold prices dropped on Monday despite weakness in the US dollar as traders weighed the impact of possible interest rate hikes by the US Federal Reserve later this month to combat the rising inflation. The Fed officials on Friday ended their public comment period ahead of the US central bank’s September 20-21 policy
Markets are generally steady in Asian session today. European majors are firming up slightly but there is no clear follow through buying so far. On the other hand, Yen is losing ground while commodity currencies are also soft. Dollar is mixed in the middle. Focuses are back to economic data this week, with particular attention
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The rise in the number of retail investors in the Indian market has been unprecedented. Technological advancement made its march in stock trading making the process absolutely convenient for people where they could register themselves for trading in the capital market from the convenience of their respective homes. Then, the financial challenges brought onto people
Euro ended the week broadly higher, with help from ECB’s historical rate hike. Yet, it was outshone by Swiss Franc, which was the biggest winner after SNB reiterated the stance of welcoming Franc’s appreciation. Canadian Dollar followed as the third, also after another massive hike by BoC. On the other hand, Yen was the worst
Oil rigs 591 vs. 596 last week Gas rigs 166 vs. 162 last week total rigs 759 vs. 760 last week prior week Crude oil is trading at $87 ahead of the report. This week the supply data showed a bigger than expected build for crude oil of 8844K vs. estimates of a draw of
Energy markets are not short of geopolitics these days. The petro-nations’ decision to cut output quotas next month might ultimately have a limited supply impact but sends a clear message. Similarly, the West’s idea of an oil price cap will face strong implementation difficulties but adds to the confrontation. Geopolitics look set to inject noise
WTI crude oil settled up $3.25 today to $86.79 on the day. That’s higher than last week’s close at $85.98 and represents an impressive turnaround from $81.20 at yesterday’s low. The market is struggling to price in tight global supplies against worries of falling future demand. There are also uncertainties about how much natural gas-to-oil
Gold traded in a broad range but managed to end with a modest gain last week bringing a halt to its 3-week losing streak. Gold traded in a narrow range near $1700/oz and ended the week with a modest 0.3% gain. Gold along with other commodities edged up last week as market players moved from
Markets: S&P 500 up 61 points, or 1.5%, to 4067 US 10-year yields up 2.5 bps to 3.31% WTI crude oil up $2.78 to $86.32 Gold up $8 to $1715 AUD leads, USD lags The economic highlight was the Canadian jobs report and for the second month, it stumbled. That may begin to give the
NEW DELHI: Gold prices rose on Friday as the weakness in the US dollar boosted the sentiments for the yellow metal. However, the gains were capped following hawkish comments by the US Fed chair. The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and promised further hikes
The markets are relatively steady in Asian session today, as focus turns to ECB rate hike. Dollar has been paring some gains overnight as risk aversion receded mildly. Both Euro and Swiss Franc are generally firming up. On the other hand, There is little sign of life for Yen, as it’s staying pressured across the
One of the best trades of this decade will be copper or copper miners with deep inventories. It’s well understood, right down to the government level, that we’re going to need a lot of copper in the green transition and that existing mines aren’t enough. At the same time, investors are unwilling to fund new
Gold in the national capital rose by Rs 62 to Rs 51,131 per 10 grams on Friday amid a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 51,069 per 10 grams. Silver also jumped by Rs 579 to Rs 55,540 per kg
Dollar’s decline accelerates today on improving risk sentiment and pull back in treasury yields. Aussie is gaining most so far but Yen catching up quickly. Euro is struggling to extend the post-ECB rally, as dragged down by selloff in crosses, in particular against Swiss Franc. Canadian Dollar turned weaker after huge employment miss. Technically, EUR/CHF’s
After running against a set of key technical levels earlier in the week, the dollar is now falling significantly across the board as we see a correction in the recent momentum. Let’s recap: EUR/USD flirted with a drop below daily support at 0.9900 this week but failed to firmly hold a close below that USD/JPY