With the help from risk aversion and extended pull back in benchmark global treasury yields, Yen’s rebound is making some progress. US 10-year yield is back below 2.9% handle in Asian session while Germany 10-year bund yield also broke 1% yesterday. Euro and Dollar are still relatively firm on risk-off sentiment. On the other hand,
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The major European indices are closing higher on the day. The German Dax, France’s CAC, Spain’s Ibex and Italy’s FTSE MIB are all up about 2% (or higher) on the day. The provisional closes are showing: German Dax, up 2.1% France’s CAC, up 2.5% UKs FTSE 100, up 1.4% Spain’s Ibex, up 2.1% Italy’s FTSE
May 11: Oil edged lower in early Asian trade on Wednesday, sustaining the previous session’s weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1%, at $101.60 a barrel by 0002 GMT.
As initial reactions to higher than expected headline and core CPI readings, Dollar is trying to resume its near term advance, which stocks futures are paring gains. The question is how sustainable the rally could be. Euro was rather indifferent to hawkish comments from ECB officials, who continued to talk up the chance of a
New cases in Shanghai fell by 50.7% in the past 24 hours, dropping to 1,487 infections – the lowest in 18 days. Adding to that is zero community spread infections being reported in 8 districts, raising hope that the city will be able to escape tighter restrictions that have been in place for about six
NEW DELHI: Gold prices eased further on Wednesday amid a rise in the dollar while investors also awaited the US inflation data. The dollar hovered near recent 20-year highs, making greenback-priced bullion less attractive for other currency holders. Market participants will be keeping a close eye on US consumer price index (CPI) data for April
The forex markets are stuck in very tight range in Asia session today, as traders are awaiting another set of consumer inflation data from the US. For now, Dollar, Euro and Yen are the stronger ones for the week, and they’re range bound against each other. Commodity currencies remain the worst performers, as led by
The price of WTI crude oil futures are settling at $99.76 That is down $3.33 or -3.23% The high price last Thursday peaked at $111.37 on Friday, the high price reached $111.18. Yesterday the price tumbled. That move to the downside continued today with the low price reaching $98.86. Looking at the hourly chart, the
Risk sentiment stabilizes today with rebound in major European stocks while US futures also point to higher open. Selloff in commodity currencies slow a bit but they remain the worst performers, led by Aussie. Yen, Euro and Dollar are the stronger ones, and they’re mixed against each other. Sterling and Swiss Franc are also consolidating
The risk-off mood yesterday is making way for a light bounce in equities sentiment so far today, with S&P 500 futures seen up 0.7% now ahead of European morning trade. That is seeing the dollar and yen give up some of its overnight gains but it isn’t anything that stands out too much. EUR/USD is
NEW DELHI: Gold prices were trading flat with a positive bias on Tuesday, tracking a fall in the US treasury yields. However, a strong US dollar capped gains for the yellow metal. Benchmark 10-year US Treasury yields extended their decline on Tuesday after pulling back from the highest level in 3.5 years in the previous
The markets are still staying in overall risk-off mode this week so far, with selloff in stocks, gold, oil and cryptos. Commodity currencies are trading broadly lower as as result, led by Aussie. Dollar and Yen are generally firmer, but they’re outshone by the surprisingly resilient Euro, and to a lesser extent Sterling. Technically, with
Bank of America Global Research discusses the seasonality trade for the USD in 2022. “The DXY has gained around 8% year-to-date. We find the USD has made most (4.1%) of its gains in 2022 on Thursdays and Fridays. Cumulative USD return for Thursdays and Fridays was respectively 1.9% and 2.2%. At the same time, the
New Delhi: Gold prices have been on a downtrend as rising interest rates are pushing the bond yields higher, diminishing the appeal of the yellow metal. After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not
Risk aversion is the theme of the day, with major European indexes trading in red, while US futures are also diving. Australian Dollar is leading other commodity currencies lower. While Dollar is firm, it’s losing some momentum entering into US session. In particular, the greenback is retreating after failing to break through a near term
The dollar is continuing its rampaging form as the post-FOMC dip has been rather short-lived. AUD/USD saw a bounce then to test its 100-day moving average (red line) but that was where sellers leaned on to produce a comeback and we’re now seeing price test waters below 0.7000 for the first time since the end
NEW DELHI: Gold prices dropped marginally on Monday as a strong dollar dented the demand for the yellow metal. The rise in Treasury yields also hit sentiments. The dollar firmed to 20-year highs against its rivals, making greenback-priced bullion less attractive for other currency holders, whereas the Indian currency hit a new lifetime low at
Markets open the week with risk-off sentiment, in particular in Japan. Australian and New Zealand Dollar are trading broadly lower as a result. On the other hand, Dollar is rising broadly. European majors are mixed together with Yen and Canadian. Technically, however, bother EUR/USD and USD/JPY are still bounded in established range even though Dollar