Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen’s rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is attempting a rebound, but momentum doesn’t warrant a reversal yet. Sterling is the relatively stronger European major, but the break
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London: Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging
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Markets are generally in cautious mode today. While Asian markets tumbled, major European indexes are just in slight red. Dollar rebounds notably after US House Speaker Nancy Pelosi finally took the flight from Malaysia to Taiwan. Investors are still awaiting whether China would take any “retaliation”. Meanwhile, Yen remains the strongest one, followed by Dollar
Gold prices declined by Rs 289 to Rs 51,877 per 10 grams in the national capital on Tuesday, according to Securities. The precious metal had closed at Rs 52,166 per 10 grams in the previous trade. Silver also fell sharply by Rs 841 to Rs 58,480 per kg from Rs 59,321 per kg in the
Even prior to the focus in the past few sessions on Pelosi’s visit to Taiwan, the break lower in USD/JPY and Treasury yields was already taking shape since last week. The fact that markets are feeling apprehensive amid US-China tensions is also adding to the gravitational pull on both fronts. I’ve put up these charts
Yen’s strong rally continues in Asian session today, with help from risk-off sentiment as well as extended decline in US benchmark yields. Stocks are trading lower while investors are cautiously waiting for any concrete action by China over US House Speaker Nancy Pelosi’s visit to Taiwan. Dollar and Euro are also mildly firmer with Swiss
Gold prices declined by Rs 195 to Rs 51,947 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to Securities. The precious metal had closed at Rs 52,142 per 10 grams in the previous trade. Silver declined by Rs 223 to Rs 58,731 per kg from Rs
In “don’t spend it all at once” news …. In mid-July the proposal was for a 28 yen boost to Japan’s minimum wage. Yesterday it advanced to 30: The Nikkei (Japan media) is now reporting 31 yen is under consideration. The country’s Central Minimum Wages Council is meeting this week (continuing meetings to be more
Dollar selling is back today while Yen’s strength continues. Euro is also soft as the second worst after the greenback. On other hand hand, Sterling is strengthening with help from buying against Euro. Commodity currencies are mixed for now, with Canadian Dollar turning softer while Kiwi leads Aussie higher. Stock market sentiment is mixed, and
NEW DELHI: Gold prices edged lower on Monday but hovered near a three-month high following the weakness in the US dollar amid expectations of a less aggressive Federal Reserve rate-hike trajectory. Gold futures on were trading lower by 0.43 per cent or Rs 224 at Rs 51,402 per 10 grams. However, silver futures plunged about
The dollar selling is persisting in European morning trade with the greenback under pressure across the board. The key technical levels from the previous posts are being contested now and we could see another leg lower in the dollar stretch out in the sessions ahead if we do get some daily closes above those key
Yen’s broad-based rally continues in quiet Asian session today. Dollar and European majors are generally steady. Some weakness is seen in Aussie and Canadian, but selling is so far limited. In other markets, sentiment is mixed with slight recovery seen in some Asian stock markets, including Japan. Gold is consolidating last week’s gain and remains
Iran’s deputy Foreign Minister for Political Affairs and head of the country’s negotiations to reboot the nuclear deal (JCPOA). Says “We shared our proposed ideas, both on substance & form, to pave the way for a swift conclusion of Vienna negotiations which were aimed at fixing the damaging complicated situation caused by the U.S. unilateral
Gold prices were flat on Friday and poised for a fourth consecutive monthly drop, as an elevated U.S. dollar and aggressive monetary policies from top central banks continued to erode demand for bullion. FUNDAMENTALS * Spot gold was flat at $1,755.59 per ounce, as of 0045 GMT. U.S. gold futures edged up 0.1% to $1,752.70
Official PMIs come from the China National Bureau of Statistics and the China Federation of Logistics and Purchasing. For July: Manufacturing 49.0, its lowest in 3 months and back into contraction expected 50.3 and prior 50.2 China’s NBS attributes the result, according to statements reported in State media (Xinhua), to traditional production off-peak period, insufficient
Gold lost its glitter due to a strong US greenback and hints of more interest rate hikes from the US Federal Reserve that pushed investors away from the precious yellow metal. The London spot gold corrected more than 18 percent from its recent high of $2070 which it hit in March, to a near one
With the month of July ending today, next week will start the new trading week for August. Still a summer month, trading may be impacted by vacation/holidays. Nevertheless there is enough data events scheduled including key jobs reports that of Canada and US, and interest rate decisions by the Reserve Bank of Australia and the