Euro’s selloff continues today after poor PMI data and stays as the worst performer for the week. Swiss Franc is also weak for now, together with Sterling. Dollar remains the strongest one, but struggle to extend gains against commodity currencies. In other markets, major European indexes are soft but downside is limited. US futures also
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Oil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures. Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near
This from ING on: media reports that policy banks in China are going to provide CNY200bn in special loans with funds from the Ministry of Finance and the PBoC. But, says ING: With an estimated 225 million sqm of uncompleted housing, and assuming that the construction cost is CNY3000 per sqm, the total cost required
The markets are rather steady in Asian session today. With a near empty calendar, trading could remain subdued. Activity, however, might start to increase with the wave of flash PMI data to be released tomorrow. For now, Aussie and Kiwi are trying to recover. But Dollar is staying firm. Euro and Yen are on the
Gold price fell by Rs 315 to Rs 51,679 per 10 gram in the national capital on Monday amid a decline in international precious metal rates, according to Securities. The yellow metal had closed at Rs 51,994 per 10 gram in the previous trade. Silver also declined by Rs 635 to Rs 55,416 per kg.
The major US indices are opening up lower on the day. There is a lot of red on the S&P 500 heat map with only a handful in the green (or up). A snapshot of the markets are showing: Dow is down -403 points or -1.20% at 33294.89 S&P is down -60 points or -1.43%
Risk off sentiment appears to be intensifying today. Selloff in particularly serious in German DAX, while FTSE and CAC are also down. US futures are also pointing to a lower open while 10-year yield is pressing 3% handle. In the currency markets, Euro and Sterling are main losers for the day so far, but Yen
Gold prices fell for a sixth straight session on Monday to hit their lowest in more than three weeks, weighed down by a robust dollar and expectations of further interest rate hikes from the U.S. Federal Reserve to tame surging inflation. FUNDAMENTALS * Spot gold was down 0.1% at $1,746.06 per ounce, as of 0131
An interest piece while we wait for financial markets to fully kick off for the week. Japan’s Nikkei have excerpts from an interview with chief economist and director of the World Bank’s Prospects Group Ayhan Kose. In a nutshell: One of the risks we look at is this higher-than-expected rise in interest rates — so,
Long term for most means encompassing the complete market/business cycles, i.e. eliminating the risk of mistiming and not getting affected by short-term worries. We generally believe that the economy will do well given enough time, and the stock market will follow suit. Mitigate the risk of negative returns by holding for long term Most people
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
Oil prices edged higher in early trade on Friday, extending a rally into a third day, as investors weighed hopes for strong fuel demand after a larger-than-expected drawdown in U.S. crude stocks, brushing off worries about a global economic slowdown. Brent crude futures climbed 7 cents, or 0.1%, to $96.66 a barrel by 0030 GMT
What key events and releases will be driving the markets next week? Tuesday , August 23 various flash PMI estimates for Europe and UK US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI 52.0 vs. 52.2 last month. Services PMI 50.0 vs. 47.3 last month US new home sales, 10 AM ET. Estimate 574K
After facing strong selling pressure in July, gold and silver prices rebounded as the US dollar and real US bond yields rolled over. This rebound has, meanwhile, run into resistance as it was lacking the support from safe-haven seekers. Our base case remains that safe-haven demand should fade further, assuming that the US economy does
The week is ending on a soft note. All 3 major indices are closing lower on the day with the NASDAQ down over 2%. The Russell 2000 index of small cap stocks fell by -2.17%. The declines in the Dow industrial average today tipped its fortunes for the week into negative territory but only barely.
Dollar ended as the strongest one, closing notably higher against all other major currencies, as risk-on sentiment lost steam while treasury yields surged. The late momentum was rather impressive and argues that the greenback might be ready for breakouts. While Canadian Dollar ended as the second strongest, it’s Swiss Franc’s resilience, and strength against European
The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from Monday, has been fixed at Rs 5,197 per gram of gold, the Reserve Bank of India said on Friday. The Sovereign Gold Bond Scheme 2022-23 Series II will be open for subscription from
The US dollar was the strongest currency this week and the strongest currency today. The NZD was the weakest of the majors today. The greenback this week, rose against all the major currencies helped by more hawkish Federal Reserve comments, and global concerns about growth in China, the euro zone, and UK due to higher