Headlines: Markets: AUD leads, EUR lags on the day European equities higher; S&P 500 futures up 0.2% US 10-year yields down 3 bps to 2.865% Gold up 0.6% to $1,770.83 WTI crude up 1.2% to $89.20 It was a quiet session that featured some indecisiveness among traders and investors, after having failed to gather any
News
The markets are generally rather quiet today, with major pairs and crosses trading inside yesterday’s range, as well as last week’s range. For now, Dollar is the strongest ones, followed by Sterling and then Euro. Australian and New Zealand Dollars are the weakest. Yen and Swiss Franc are mixed together with Canadian. Technically, Dollar’s rally
NEW DELHI: Gold prices held steady on Wednesday ahead of the much-awaited US Fed minutes of meetings for cues over interest rate hikes amid inflationary worries. The minutes of the US Fed’s July 26-27 policy meeting are due at later in the day. The US central bank has raised its benchmark overnight interest rate by
Reuters with the info, citing a Russian economy ministry document it has seen Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy ministry document seen by Reuters. ministry document projects energy export earnings will
Overall risk sentiment appears to have turned sour again today, with major European indexes trading in red, while US futures point to lower open. Australian Dollar is leading commodity currencies lower. Even New Zealand Dollar wasn’t supported by the hawkish RBNZ hike. At the same time, Yen is also among the weakest, as pressured by
Gold in the national capital on Wednesday slipped Rs 53 to Rs 52,340 per 10 grams amid a decline in international precious metal prices and rupee appreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 52,393 per 10 grams. Silver also declined Rs 256 to Rs 57,957 per kg
The US dollar initially made moderate gains after the retail sales report but has struggled to hold them. Some of that could be technical resistance as USD/JPY tries to break above the pre-CPI range. The implied odds of a 75 bps Fed hike at the September meeting ticked off of 60% after the data from
New Zealand Dollar trades broadly higher after RBNZ’s rate hike today. But trading is mixed in other currencies. Commodity currencies are generally on the soft side for the week, but there is no follow through selling. Dollar is still the strongest, but it’s struggling to extend the near term rally. Yen attempted for a bearish
When Russia invaded Ukraine in the spring, energy experts were predicting that oil prices could reach $200 a barrel, a price that would send the costs of shipping and transportation into the stratosphere and bring the global economy to its knees. Now oil prices are lower than they were when the war began, having dropped
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
While Dollar remains generally firm, Yen is reversing much of this week’s gain. The moves come as European benchmark yields are trading generally higher. Major European stock indexes are also in slight positive position. Canadian Dollar is rebounding, responding more to rising core inflation reading. European majors and other commodity currencies are mixed for now.
Gold prices declined by Rs 764 to Rs 52,347 per 10 grams in the national capital on Tuesday following weak global cues, according to Securities. The precious metal had closed at Rs 53,111 per 10 grams in the previous trade. Silver also tumbled by Rs 1,592 to Rs 58,277 per kg from Rs 59,869 per
Redbook is out with its weekly retail sales numbers and the first two weeks of August were up 11.6% compared to a year ago. The weekly number also rose 12.7% y/y compared to 10.4% last week. A better sign came from Wal-Mart, where shares are up 4.6% in the pre-market after earnings. The company guided
Yen and Dollar are so far stronger for the week, with recession as a main theme in the markets. Yet, their upside is relatively limited, as US stocks managed to extend near term rally overnight. Commodity currencies are generally on the softer side, but Aussie, Kiwi and Loonie are all staying inside last week’s ranges.
Oil prices fell on Tuesday, extending losses from the previous session, after economic data from China, the world’s largest crude importer, spurred fresh concerns about a potential global recession that could hit energy demand. Brent crude futures fell 90 cents, or 1%, to $94.20 a barrel by 00:03 GMT. WTI crude futures fell 81 cents,
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
Negative sentiment started earlier in the day following weak economic data from China, and spread particular serious to some commodities like oil and copper. Aussie is currently leading New Zealand and Canadian Dollar down. Yen is trading generally higher, taking Dollar and Swiss Franc up. Meanwhile, Euro and Sterling continue to trade mixed. Technically, the
London: Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56%, to $94.66 a barrel by 0945 GMT after