Dollar remains the firmer one today, in quiet markets, as traders are awaiting Fed’s rate hike, and forward guidance later in the week. Yen’s trading tone is so far positive, as risk markets lack buyers. Commodity currencies are weak together with Euro and Sterling. Aussie is the relatively steadier one as markets await tomorrow’s RBA
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As much as other central banks (RBA, BOE) and US non-farm payrolls are also on the agenda this week, make no doubt that the Fed is key driver to watch in the days ahead. In the lead up, I would expect markets to remain more tense but after a month of seeing a rather coherent
MELBOURNE – Oil prices fell on Monday in holiday-sapped trade in Asia as concerns about slowing economic growth in China, the world’s top oil importer, outweighed fears of potential supply disruptions from a looming European Union ban on Russian crude. Brent crude futures fell $1.21, or 1.1%, to $105.93 a barrel at 0205 GMT, while
SINGAPORE: Oil edged lower on Friday as China‘s COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices. Brent crude futures dipped 4 cents to $107.55 a barrel by 0040 GMT after rising 2.1% in the previous session. The front-month
Gold was on a rollercoaster ride this month and ended lower, marking its first such decline in three months in April. Price rose in the early half of the month but lost momentum close to $2,000/oz level and corrected sharply to near $1,870/oz level before moving back close to $19,00/oz level. Gold has been directionless
The old adage is that stocks don’t bottom on Fridays. Of course, it’s also the final trading day of the month so that could have led to some special selling flows that could reverse on Monday as we begin May. On the day: S&P 500 -3.6% worst single day since June 2020. Lowest close since
Volatility has become the hallmark in the global markets and this might persist until the war between Russia and Ukraine subsides. Last week, crude oil lost nearly 5 per cent on demand concerns and extended additional 5 per cent losses on Monday. WTI crude oil made low of almost $96.35 and on price fell to
Dollar ended up as the strongest one last week, having the best week since 2015 and with Dollar index hitting a two-decade high. Though, the rally somewhat slowed towards the end of the week. It could be a result of month end flow or traders’ cautiousness ahead of Fed. But in any case, there is
As the clock ticks toward the Fed decision next Wednesday, the stocks are not taking it well. Of course, Amazon’s poor earnings after the close last night was a key catalyst today. Amazon shares are closing down over 14% on the day, and is also closing below its 200 week MA for the first time
NEW DELHI: Gold prices rose on Friday as economic data from the US increased the appeal of the yellow metal. However, gains were capped by a firm dollar. The American economy unexpectedly shrank in the first quarter of 2022, data from the Bureau of Economic Analysis showed Thursday. Meanwhile, US dollar traded at two-decade highs.
Dollar is paring some gains today but remains the strongest one for the week. Canadian Dollar is currently the second best. Euro is trying to recover but remains the second worst, just next to Sterling. Yen is trying to recover against Dollar too, but stays weak against European majors. Aussie and Kiwi are mixed for
Interest rates are a powerful tool and they’re on a collision course with the red hot US housing market. A year ago, Americans could get 2.9% 30-year fixed mortgages; they’re currently at 5.1%. That has the market betting that housing will cool off dramatically. Here’s the chart of XHB, the home builders’ ETF. It’s down
New Delhi: Gold in the national capital on Friday jumped Rs 605 to Rs 51,627 per 10 grams in line with rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,022 per 10 grams. Silver also zoomed by Rs 1,596 to Rs 65,207 per
Lots of important economic data are released today but they’re largely ignored. Inflation data from the US and Eurozone are strong. Canada’s monthly GDP growth was well above expectation while Eurozone GDP growth turned weaker in Q1. But reactions to them are mild. While the greenback is paring some recent gains, it remains the strongest
Challenges created by COVID-19 and Ukraine conflict are increasing Will implement a package of policies to support COVID-affected industries, small firms To roll out measures to support healthy development of the economy Will effectively control major risks, safeguard bottom line for systemic risks Will step up macro policy adjustments to stabilise the economy This is
Yen falls broadly in Asian session today after BoJ stands pat and even maintains a dovish bias. 10-year JGB yield also tumbles after BoJ reiterates the pledged to defend the cap. Dollar, on the other hand, rises broadly, and it’s trading as the strongest one for the week so far. Euro and Sterling are the
April 29 : Gold prices edged higher on Friday as lower U.S Treasury yields outweighed pressure from an elevated dollar, but bullion was still headed for its biggest monthly drop since September on fears of aggressive interest rate hikes by the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.1% at $1,897.01 per ounce, as
Prior was 46 Composite 25 vs 37 prior New orders 10 vs 33 prior Prices paid 83 vs 81 prior Six month index 34 vs 41 prior “The pace of regional factory growth eased somewhat but remained strong,” said Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City. “Firms continued