NFP due at 1230 GMT on Friday, 8 July 2022 This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month) result. The number in the column next to that, where is a number, is the
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Gold firmed on Friday as the dollar came slightly off two-decade highs, but bullion was set to post its biggest weekly drop in more than a month as the elevated greenback hit demand. FUNDAMENTALS * Spot gold firmed 0.3% to $1,744.07 per ounce by 0106 GMT. U.S. gold futures rose 0.2% to $1,742.50. * The
Overall markets are relatively quiet in Asian session today. There is little reaction to the tragic news that former Japanese Prime Minister Shinzo Abe was shot and gravely injured. Dollar and Yen remain the strongest ones for the week while Euro is the runaway loser, followed by Sterling by a distant. Focuses will now turn
The signal from the Atlanta Fed GDPNow tracker at this point is probably less important than the breathless recession-mongering/calling in financial markets. This indicator is one of many but it’s nearly front page news now. Is that a sign that fear has gone too far? After this week’s releases from the Institute for Supply Management,
Gold in the national capital on Thursday slipped by Rs 436 to Rs 50,551 per 10 grams, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,987 per 10 grams. Silver, however, gained Rs 233 to Rs 56,750 per kg from Rs 56,517 in the previous trade. In the international
Sterling recovers today, in particular against Euro and Swiss Franc, after Boris Johnson resigns as UK Prime Minister. But Aussie is so far still the strongest for the day. Euro remains generally weak but Dollar and Yen are also paring some recent gains. For the week, Aussie is the best performer for now, followed by
Japan media reports that Tokyo is considering tightening up COVID restricitons Goldman Sachs’ 3 reasons warn of a more severe recession in the U.S., U.K., and Canada BOJ said to be fully committed to its easing policy. … D’uh Shanghai reports a big jump in new COVID cases Australian trade balance for May AUD +15,965m
Gold prices edged up on Thursday, from their multi-month lows hit in the previous session. However, the relief might be temporary, experts warned. An elevated dollar pressurised the safe bullion. Gold futures on were trading higher, gaining 0.29 per cent or Rs 148 at Rs 50,648 per 10 grams. Similarly, silver futures traded were up
The stock markets are starting to display some resilience, despite hawkish FOMC minutes. US stocks managed to close higher after initial selloff. Nikkei is also showing some strength in Asian session. Dollar and Yen are retreating mildly while Aussie and Kiwi are trading higher. As for the week, Euro and Sterling remain the runaway loser,
So Russia is curbing natural gas supplies to Europe at the moment. Officially, it’s due to a turbine that’s stuck in Canada because of sanctions. Scheduled maintenance also starts on July 11 and runs for two weeks. The fear is that Russia won’t turn the gas back on. German chancellor Scholz underscored that with his
London-World oil prices spiralled lower Wednesday on fears that a potential recession will slash demand, with Brent crude sinking under $100 per barrel for the first time since April 25th as recession fears fueled a broader selloff. Europe’s benchmark crude contract, Brent North Sea, dropped 3.3 percent to $99.39 per barrel in mid-afternoon deals, while
Selloff in Euro continues today, as it’s marching towards parity against the greenback. Some noted that it’s a perfect storm for the common currency, with stagflation risks, gas crisis, a prolonged war and fragmentation. Sterling is not too far behind with political uncertainties over Prime Minister Boris Johnson again, while Swiss Franc is also weak.
USD/JPY dropped a little lower during the session with Asia morning lows just under 135.20. Its not much above there as I update. Across major FX movement was subdued, especially following the huge shunt higher for the US dollar in Tuesday trade. AUD/USD popped above 0.6800 in a small range. NZD, GBP are also up
NEW DELHI: It is not common for analysts to agree on a price target for a commodity or a stock, but this time around, the targets for crude oil vary in between the wide range of $65 a barrel and $380 a barrel. Last week, global brokerage firm JPMorgan shocked everyone as its report estimated
Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling pressure together with Dollar. The development suggests that risk markets might be ready for a
The tech trade has roared back to life with the Nasdaq shaking off a nearly 2% decline to trade briefly in positive territory (now -0.2%). Two things that tech stocks like are: 1) Lower oil prices — WTI is down $13 from the intraday highs 2) Lower yields — tech is a long-duration asset and
Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, slid 8.4%, or $9.14, to trade at $99.29 per barrel. The contract last traded under $100 on May 11. International
Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak, with Aussie shrugging of RBA rate hike. Nevertheless, Canadian Dollar is relatively resilient Technically, EUR/USD’s