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
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West Texas Intermediate fell as much as $4.09 a barrel from high to low on Wednesday, putting it on course for a monthly decline of about 10%. Europe is gripped by an energy crisis that may herald a recession while in Asia, growth has slowed in China, the top world’s oil importer. “Consumption of crude
Euro is extending near term rally against Swiss Franc and Sterling after even higher than expected record inflation. But it’s struggling to gain against most other currencies. Dollar is also sluggish after ADP employment disappointment, while Yen’s is recovering. Commodity currencies are mixed for now. It seems like traders would continue to hold their bets
The last two fixings (30 August and 31 August) by the PBOC were interesting, in the sense that they have kept the USD/CNY rate below 6.90 and pushed back against market expectations for a stronger fix. In particular, the one yesterday was quite some ways off estimates – which normally isn’t so much so the
Gold languished near a one-month low on Wednesday and was set for a fifth consecutive monthly drop, as solid U.S. data and hawkish Federal Reserve comments pointing to higher interest rates dented the non-yielding metal’s appeal. FUNDAMENTALS * Spot gold was flat at $1,723.28 per ounce, as of 0109 GMT, trading close to a one-month
The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss
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
Gold price in the national capital on Tuesday fell Rs 66 to Rs 51,469 per 10 grams amid rupee appreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 51,535 per 10 grams. Silver, however, gained marginally by Rs 4 to Rs 55,550 per kilogram from Rs 55,546 per
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,
About the most interesting item from the session was early on, with afternoon comments from White House Press Secretary Karine Jean-Pierre saying the White House is anticipating a slowing in jobs growth, and that employment data is going to ‘cool off’. For those awaiting the non-farm payroll report out of the US on Friday this
Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation. FUNDAMENTALS Spot gold XAU= ticked 0.1% higher to $1,739.14 per ounce, as of 0058 GMT. Prices hit a one-month
Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for a while with an empty calendar
The EIA head Birol is no the wire saying that: Further Strategic Petroleum Reserve release not off the table. Stands by the IEA’s report that said no new investlments in oil and gas fields area needed if the world wants to achieve net zero report emissions by 2050 Russian oil production has not fallen as
Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend
Gold prices fell on Monday, as the dollar held on to gains following U.S. Federal Reserve Chair Jerome Powell‘s signal that the central bank will raise interest rates further to tame sky-high inflation. FUNDAMENTALS Spot gold fell 0.3% to $ U.S. gold futures were down 0.3% at $1,745.3. The dollar index held close to a
South Korea says North Korea nuclear test not imminent, missile launch prep. continues Morgan Stanley neutral on CHF in the near-term, remains core bullish over longer timeframe Goldman Sachs forecasts the UK economy entering a recession in Q4 2022 Australia July retail sales +1.3% m/m (expected 0.3%) China coronavirus cases rising on the day again
It was a challenging week for commodities and gold was not left unaffected. Gold wavered between gains and losses and ended the week with a modest gain of 0.6%. Gold fell for the second consecutive week after four weeks of consecutive gains which shows that bulls are losing confidence and the key $1,800/oz level remains