Australian Dollar trades higher today, following recovery in Asian stock markets. RBA hikes by 25 bps as widely expected and indicates more tightening to come ahead. There is little reaction as the message is well digested by the markets already. Nevertheless, Aussie is slightly outperformed by New Zealand Dollar for the moment. On the other
News
The WSJ reports: Saudi Arabia has shared intelligence with the U.S. warning of an imminent attack from Iran on targets in the kingdom, putting the American military and others in the Middle East on an elevated alert level, Saudi and U.S. officials said. This would be extremely bullish for oil but WTI crude oil prices
Gold price in the national capital rose Rs 177 to Rs 50,869 per 10 grams on Tuesday amid a rise in the prices of the precious metal in the international market, according to Securities. In the previous trade, the yellow metal price had touched Rs 50,692 per 10 grams. Silver price increased Rs 1,022 to
Dollar is back under some selling pressure today as 10-year yield dips back below 4% handle. Broad risk sentiment is also mildly positive. European majors are generally weaker too, together with Canadian. Yen rebounds on falling yields, but it’s outshone by New Zealand Dollar. Kiwi is supported additionally by buying against Aussie, which is also
The central bank bonanza continues into the new week with the RBA raising its cash rate by a measly 25 bps today. The decision was much expected but there was certainly a case for the central bank to be more aggressive and considering now that they didn’t, it seems like we are starting to head
Gold prices were flat on Tuesday, after touching their lowest levels in more than one week, as the dollar held firm ahead of the U.S. Federal Reserve’s policy meeting, where the central bank is likely to deliver another oversized interest rate hike. FUNDAMENTALS * Spot gold was listless at $1,633.69 per ounce, as of 0059
Yen trades generally lower in quite Asian session today, but markets are relatively steady elsewhere. Stock markets are mixed with Nikkei closing higher, following the rebound in the US last Friday. But China is weighed down by poor PMI data. Generally speaking, traders are cautious ahead of many key events ahead in the week, including
We’ve been writing about this for months and evidence continues to mount that the US Energy Information Adminstration has a data problem. When July demand data cratered, it kicked of a demand-destruction trade in oil but when the monthly numbers were revised, they showed that gasoline demand was 300k barrels per day stronger than reported.
Gold price in the national capital fell Rs 146 to Rs 50,612 per 10 grams on Monday amid a drop in precious metal prices in the overseas market along with appreciation in rupee, according to Securities. In the previous trade, the yellow metal had touched Rs 50,758 per 10 grams. Silver also declined by Rs
Dollar rebounds broadly today as US futures turn south, pointing to a lower open. Yen is back under some selling pressure. But Euro is also weak despite stronger than expected consumer inflation data, while Sterling and Swiss Franc are also soft. Commodity currencies are mixed with Canadian Dollar on the weaker side. But overall, traders
The Wall Street Journal had a piece over the weekend from Nick Timiraos, who has gained a reputation as a Federal Reserve ‘insider’. Timiraos wrote suggesting higher rates from the Federal Open Market Committee (FOMC), rates that’ll be held high for longer. Separately Goldman Sachs published a note raising their forecast for Fed rate hikes,
Gold prices were flat on Monday, after declining about 1.3% in the previous session, as investors cautiously awaited the U.S. Federal Reserve’s policy meeting for cues on its rate-hike path. FUNDAMENTALS * Spot gold was little changed at $1,642.59 per ounce by 0046 GMT, while U.S. gold futures were up 0.1% at $1,645.90. * The
The week is winding down in the US stocks in what was the “Big Week” for earnings. Safe to say, the week was not as bad as the market expected. Looking at the major indices, the indices are currently showing: Dow up 5.52% S&P up 3.67% Nasdaq up 1.87%. So how did the list of
Maize prices in the benchmark market of Chhindwara lost by over 11 per cent month-to-date and around 9 per cent week on week (WoW), thanks to the good weather, which boosted the harvest pace and the new crop arrivals picked up. As the market resumed post-Diwali holidays on October 27, the maize prices in Chhindwara
The price of WTI crude oil futures are settling at $87.90. That’s down -$1.18 or -1.52%. The high price reached $88.74. The low price extended to $87.10. Looking at the hourly chart, the price high this week reached up to a swing area going back to early October between $89.72 and $90.37. The high price
New Delhi: Gold prices were trading flat on Friday, headed for a straight second weekly gain as the US economic data fanned expectations that the Fed might ease the pace of raising interest rates. The US economy rebounded strongly in the third quarter amid a shrinking trade deficit, but the data overstated the nation’s economic
The major US indices are closing near the high for the day and ending a solid week with the Dow industrial average leading the way. The Dow is on track for the best October, and on pace for the best month since January 1976 (with one more day to go). The NASDAQ was the outperforming
OPEC issues World Oil Outlook on Monday in Abu Dhabi Report to keep similar long-term demand outlook – sources Ex-OPEC minister says demand could plateau earlier than forecast OPEC’s view that world oil demand will keep rising for longer than many other forecasters predict is not expected to change much in its forthcoming major report,