BoA on G10 FX, a quick snippet view: We expect the USD to remain strong for the rest of this year. The overheating US economy and the hawkish Fed have a lot to do with the strong USD.For the USD to weaken, the Fed has to be more concerned about growth than about inflation, and
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The financial markets are trading with a risk-on mood today. Major European indexes are trading up while US futures also point to higher open. Commodity currencies are trading generally higher, as led by Aussie. Meanwhile, Dollar is leading Yen and Euro lower. Sterling and Swiss Franc are mixed for now, trading a bit on the
Gold in the national capital on Monday rose by Rs 97 to Rs 52,490 per 10 gram amid rise in international precious metal prices along with depreciation in rupee, according to Securities. The yellow metal had closed at Rs 52,393 per 10 gram in the previous trade. Silver also jumped by Rs 527 to Rs
The jump higher in the dollar after the US jobs report on Friday was encouraging but there still needs to be more in order to vindicate a return back to the year’s highs for the greenback. For now, the price action today suggests that market players are not convinced and USD/JPY tipping back below 135.00
Yen stays generally soft in relatively quiet markets in Asia. But Dollar also softens slightly. On the other hand, Australian Dollar is firmer up on steady market sentiment, as followed by Swiss Franc and Euro. Sterling and Canadian are mixed for now. The economic calendar is light this week. The most market moving even would
It was a good week for gold, at least until Friday. However, the US jobs report has forced market players to reassess if the recent upward momentum can continue for long. Gold rose 0.5 per cent last week, marking its third consecutive weekly gain but ended well off the lows and short of the key
Sanya, in Hainan province, was in the headlines last week with partial shut-ins: A full city-wide lockdown is now in place, ‘static management’ the new buzzwords from the bureaucrats in charge: cases there spiked to more than 200 on Friday movement will be restricted except for those who provide essential public services, and emergency work
There was an abrupt rise in commodity prices when Russia invaded Ukraine in the last week of February. Supply constraints and worries about inflation have helped commodity prices surge to record or multi-year highs. Although a correction was witnessed in several other commodities, natural gas prices remain unchanged. Restricted supplies from the world’s largest gas
China trade data for July 2022 was released on Sunday: This snapshot is from the ForexLive economic data calendar, access it here. China’s economy continued to recover from lockdowns earlier in the year through July, the best growth in exports will be welcome. Less welcome of course is the miss on imports, this will be
Oil prices extended losses on Friday, after hitting their lowest since before Russia’s February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand. Brent crude dropped 10 cents, or 0.1%, to $94.02 a barrel by 0047 GMT, while U.S. West Texas Intermediate
Talks continued over the weekend in Vienna aimed at reviving Tehran’s 2015 nuclear deal with world powers. Iranian state media reported comments from Iran’s foreign minister Hossein Amirabdollahian, that he “stressed the need for a realistic U.S. response to Iran’s constructive proposals on various issues to make the deal work” Talks have been ongoing for
Gold prices firmed on Friday to hover near a one-month high, as a retreat in dollar and U.S. Treasury yields and growing recession fears boosted demand, keeping the safe-haven metal on track for its third straight weekly rise. FUNDAMENTALS * Spot gold was up 0.2% at $1,793.88 per ounce, as of 0054 GMT, after hitting
The major stock indices are closing the day with mixed results: Dow industrial average rose 76.63 points or 0.23% at 32803.48 S&P index fell -6.75 points at -0.16% at 4145.18 NASDAQ index fell -63.02 points at -0.50% at 12657.56 Russell 2000 gain 15.36 points or 0.81% at 1921.82 The NASDAQ index snapped a two day
The strong set of job market data seemed to have cleared much concern over recession in the US, and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on Fed continuing with the current pace of tightening beyond neutral. Stocks markets were resiliently firm despite that and look set
Gold in the national capital on Friday was marginally down by Rs 9 to Rs 52,592 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,601 per 10 grams in the previous trade. Silver also declined by Rs 487 to Rs 58,477 per kg from Rs 58,964 per kg in
In a market environment where bad news is good news, 528K new jobs (vs 250K estimate), unemployment rate of 3.5% vs. 3.6% estimate, average hourly earnings 0.5% vs. 0.3% estimate (and a revision to the priro month to 0.4% from 0.3%), average workweek 34.6% vs. 34.5% estimates, that is not exactly bad news. In fact
Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same times US futures tumble, apparently on expectations Fed’s tightening pace will continue with such healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break through
NEW DELHI: Gold prices were trading flat, steady near a one-month high on Friday, thanks to a fall in the US dollar and weak US treasury yields. Traders awaited the US jobs data amid the growing recession fears boosted safe-haven demand and kept bullion on track for its third straight weekly rise. The market’s focus