New Delhi Gold prices were trading flat as the dollar recovered slightly, while market participants await further direction on US rate hikes from the Federal Reserve meeting next week. Most investors expect the Fed to deliver a 50-basis point rate hike at its final meeting of 2022 scheduled on December 13-14, 2022. Market participants also
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Trading in the currency markets continues to be rather subdued. Canadian Dollar remains the weakest together Yen. The dovish rate hike by BoC overnight didn’t trigger more selloff, though. Yen is having little reaction to falling US and European benchmark yields. Dollar and Euro are the firmer ones but stay inside familiar range. Aussie and
The figure comes from the most recent Reuters Corporate Survey. More than 80% of companies said they wanted the yen to trade no weaker than 130 per dollar next year More: Almost 90% of companies see inflation as the main risk in 2023 37% of firms in the survey plan to use profits to raise
New Delhi: Gold prices ticked up on Wednesday as the dollar weakened slightly, but moved in a relatively narrow range as investors looked to gauge the pace of rate hikes by the US Federal Reserve. Fed fund futures are expecting a 91% chance of a 50-basis point (bps) rate increase in the December meeting, said
Euro and, to a lesser extent, Sterling, are picking up some buying today but both are stuck in range against the greenback. There is no clear unified theme in the markets. Canadian and Australian Dollar are weak, but New Zealand Dollar is strong. Swiss Franc is trailing other Europeans higher but Yen is heading down,
European stocks are holding lower, with S&P 500 futures also seen down 6 points, or 0.15%, so far on the day. Meanwhile, 10-year Treasury yields are little changed and keeping close to 3.53% so that is not offering traders a whole lot to work with in the major currencies space. The dollar is sitting more
Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply. Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes
Overall, the markets continue to trade in a mixed manner. US stocks declined for a second day overnight, but the selloff didn’t continue in Asia. Sentiment is somewhat supported by optimism of easing restrictions in China. In the currency markets, Yen is currently the worst performer for the week, followed by Aussie. Canadian Dollar is
Australian Industry Group Performance of Services Index for November 2022. Ugly result at 45.6. Main points from the group’s report: 3rd month of decline All activity indicators in contraction employment and new orders indicators declined significantly in November, suggesting weakening demand capacity utilisation remained elevated, rising to 82.8%. In services, this reflects ongoing tight employment
New Delhi: Gold prices rose on Tuesday, supported by a pullback in the US dollar, making the bullion less expensive for buyers holding other currencies. The dollar index rebounded on Monday after data showed that the US services industry activity unexpectedly picked up in November, prompting speculation that the Fed may lift interest rates more
Canadian Dollar is currently the weakest one in otherwise sluggish markets. Falling oil price is a factor dragging down the Loonie, and traders are also cautious on a dovish rate hike by BoC tomorrow. There is still no clear follow through buying in Dollar against others. Aussie is steady after RBA rate hike earlier today,
European stocks are lower in playing catch up to the losses in Wall Street yesterday, with US futures not hinting at much so far on the day. S&P 500 futures are up 1 point, or 0.02%, so that isn’t giving much for traders to work with. Meanwhile, Treasury yields were higher earlier on but have
Shares of sugar companies rallied 9.8% on Tuesday following reports of 7% fall in India’s sugar output so far this year. Erratic weather conditions have hampered cane yields, which could further result in a reduction in exports. From the pack, was one of the biggest gainers. The stock rallied 9.8% in Tuesday’s trade on the
Dollar tried to rebound overnight, as risk-on sentiment receded after solid services data. But there is no follow through buying in Asian session with generally mixed mood. Aussie is under mild selling pressure and there is no support from RBA’s expected 25bps rate hike. For now, Dollar and Euro are on the stronger side for
The Wall Street Journal (gated) with the report: PepsiCo is laying off workers at the headquarters of its North American snacks and beverages divisions, a signal that corporate belt-tightening is extending beyond tech and media, according to people familiar with the matter and documents reviewed by The Wall Street Journal. Hundreds of jobs will be
Oil prices rose 3% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price cap on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over
Euro rises broadly today as supported by improvement in investor sentiment, but Sterling and Swiss Franc are lagging behind. Canadian Dollar also follows oil price high, as China appears to be moving further towards reopening. Australian Dollar is also firm. But Yen and Dollar are on the weaker side on positive market sentiment. Technically, while
Timiraos has been a sort of Fed whisperer as of late, so it is something to follow in case his remarks or views have any juxtaposition with prevailing market sentiment. Think back to how markets used to follow Hilsenrath when it came to Fed commentary. In any case, this is the latest by Timiraos and