Markets: S&P 500 up 61 points, or 1.5%, to 4067 US 10-year yields up 2.5 bps to 3.31% WTI crude oil up $2.78 to $86.32 Gold up $8 to $1715 AUD leads, USD lags The economic highlight was the Canadian jobs report and for the second month, it stumbled. That may begin to give the
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NEW DELHI: Gold prices rose on Friday as the weakness in the US dollar boosted the sentiments for the yellow metal. However, the gains were capped following hawkish comments by the US Fed chair. The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and promised further hikes
The markets are relatively steady in Asian session today, as focus turns to ECB rate hike. Dollar has been paring some gains overnight as risk aversion receded mildly. Both Euro and Swiss Franc are generally firming up. On the other hand, There is little sign of life for Yen, as it’s staying pressured across the
One of the best trades of this decade will be copper or copper miners with deep inventories. It’s well understood, right down to the government level, that we’re going to need a lot of copper in the green transition and that existing mines aren’t enough. At the same time, investors are unwilling to fund new
Gold in the national capital rose by Rs 62 to Rs 51,131 per 10 grams on Friday amid a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 51,069 per 10 grams. Silver also jumped by Rs 579 to Rs 55,540 per kg
Dollar’s decline accelerates today on improving risk sentiment and pull back in treasury yields. Aussie is gaining most so far but Yen catching up quickly. Euro is struggling to extend the post-ECB rally, as dragged down by selloff in crosses, in particular against Swiss Franc. Canadian Dollar turned weaker after huge employment miss. Technically, EUR/CHF’s
After running against a set of key technical levels earlier in the week, the dollar is now falling significantly across the board as we see a correction in the recent momentum. Let’s recap: EUR/USD flirted with a drop below daily support at 0.9900 this week but failed to firmly hold a close below that USD/JPY
Beating both equities and bonds, gold has turned out to be the best performing asset class so far in the calendar year 2022. From Jan-August 2022, MCX Gold gave a return of 5.5 per cent, while midcaps gave a return of 3.4 per cent, Nifty 2.3 per cent and the bond index 1.1 per cent.
Dollar is starting to reverse recent gains, probably in a more persistent way. Australian Dollar is leading the way higher today, as supported by extended improvement in risk sentiment. But for the week, Swiss Franc and Euro are the strongest ones, followed by Canadian. Yen is still the worst performer, even though it’s in recovery
Breaking: Queen Elizabeth II has died at 96. Earlier this week, the Queen met with incoming Prime Minister Liz Truss and was up on her feet and reportedly fine. She had been in good health recently however there were rumors earlier today that fall and concerns mounted when her children flew to Balmoral to be
Gold prices rose by Rs 251 to Rs 51,056 per 10 grams in the national capital on Thursday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 50,805 per 10 grams. Silver also rallied by Rs 862 to Rs 54,934 per kg from Rs 54,072 per kg in the
Euro dips broadly after ECB delivered a 75bps rate hike without additional hawkish surprise. But Aussie and Kiwi are the worst performers for today so far. Swiss Franc is rallying, thanks to buying against Euro, while Dollar is trading slightly firmer. Yen and Sterling are both consolidating this week’s losses. Technically, EUR/CHF’s break of 0.9696
The dollar is holding steady on the day after having seen a bit of a rejection at key levels in trading yesterday. EUR/USD moved up after contesting 0.9900 while GBP/USD held at the March 2020 lows near 1.1400 before climbing back up to above 1.1500 now. Meanwhile, USD/JPY came within a whisker of touching 145.00
Gold prices inched higher on Wednesday as a slight pullback in U.S. bond yields and bargain-hunting underpinned the market, although a stronger dollar and aggressive interest rate hike fears limited gains. Spot gold edged up 0.1% to $1,702.59 per ounce by 1207 GMT, having dropped to its lowest since Sept. 1 at $1,690.10. U.S. gold
Dollar is trading broadly higher in Asian session today, as supported by extended rally in US treasury yield. For the same reason, Yen tumbles broadly this week, and the decline is extending. The net result is that USD/JPY reached a new 24-year high and still looks unstoppable. Canadian Dollar is trading with a mixed tone
The EIA raises 2022 demand forecast by 20,000 bpd to +2.10mbpd y/y Cuts 2023 demand growth by 90k bpd to 1.97 mbpd y/y Sees 2022 US output of 11.79 mbpd up 540kbpd this year vs +610k prior Output to rise 840k bpd in 2023 to 12.63mbpd 2023 US demand to rise 350k vs 410k last
Oil tumbled to the lowest since January as a dollar surge and global demand concerns weigh on prices despite the threat of disruption to Russian supplies. US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90. A dollar gauge reached an all-time high on Wednesday, offering a macro headwind
Canadian Dollar is steady in early US session after BoC delivered 75bps rate hike and maintained hawkish bias. Dollar remains the strongest one for the week, but continues to pick up momentum against Euro. Yen is still the runaway loser, while selloff in Sterling is intensifying. Aussie and Kiwi are clearly weighed down by risk-off