Even prior to the focus in the past few sessions on Pelosi’s visit to Taiwan, the break lower in USD/JPY and Treasury yields was already taking shape since last week. The fact that markets are feeling apprehensive amid US-China tensions is also adding to the gravitational pull on both fronts. I’ve put up these charts
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Yen’s strong rally continues in Asian session today, with help from risk-off sentiment as well as extended decline in US benchmark yields. Stocks are trading lower while investors are cautiously waiting for any concrete action by China over US House Speaker Nancy Pelosi’s visit to Taiwan. Dollar and Euro are also mildly firmer with Swiss
Gold prices declined by Rs 195 to Rs 51,947 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to Securities. The precious metal had closed at Rs 52,142 per 10 grams in the previous trade. Silver declined by Rs 223 to Rs 58,731 per kg from Rs
In “don’t spend it all at once” news …. In mid-July the proposal was for a 28 yen boost to Japan’s minimum wage. Yesterday it advanced to 30: The Nikkei (Japan media) is now reporting 31 yen is under consideration. The country’s Central Minimum Wages Council is meeting this week (continuing meetings to be more
Dollar selling is back today while Yen’s strength continues. Euro is also soft as the second worst after the greenback. On other hand hand, Sterling is strengthening with help from buying against Euro. Commodity currencies are mixed for now, with Canadian Dollar turning softer while Kiwi leads Aussie higher. Stock market sentiment is mixed, and
NEW DELHI: Gold prices edged lower on Monday but hovered near a three-month high following the weakness in the US dollar amid expectations of a less aggressive Federal Reserve rate-hike trajectory. Gold futures on were trading lower by 0.43 per cent or Rs 224 at Rs 51,402 per 10 grams. However, silver futures plunged about
The dollar selling is persisting in European morning trade with the greenback under pressure across the board. The key technical levels from the previous posts are being contested now and we could see another leg lower in the dollar stretch out in the sessions ahead if we do get some daily closes above those key
Yen’s broad-based rally continues in quiet Asian session today. Dollar and European majors are generally steady. Some weakness is seen in Aussie and Canadian, but selling is so far limited. In other markets, sentiment is mixed with slight recovery seen in some Asian stock markets, including Japan. Gold is consolidating last week’s gain and remains
Iran’s deputy Foreign Minister for Political Affairs and head of the country’s negotiations to reboot the nuclear deal (JCPOA). Says “We shared our proposed ideas, both on substance & form, to pave the way for a swift conclusion of Vienna negotiations which were aimed at fixing the damaging complicated situation caused by the U.S. unilateral
Gold prices were flat on Friday and poised for a fourth consecutive monthly drop, as an elevated U.S. dollar and aggressive monetary policies from top central banks continued to erode demand for bullion. FUNDAMENTALS * Spot gold was flat at $1,755.59 per ounce, as of 0045 GMT. U.S. gold futures edged up 0.1% to $1,752.70
Official PMIs come from the China National Bureau of Statistics and the China Federation of Logistics and Purchasing. For July: Manufacturing 49.0, its lowest in 3 months and back into contraction expected 50.3 and prior 50.2 China’s NBS attributes the result, according to statements reported in State media (Xinhua), to traditional production off-peak period, insufficient
Gold lost its glitter due to a strong US greenback and hints of more interest rate hikes from the US Federal Reserve that pushed investors away from the precious yellow metal. The London spot gold corrected more than 18 percent from its recent high of $2070 which it hit in March, to a near one
With the month of July ending today, next week will start the new trading week for August. Still a summer month, trading may be impacted by vacation/holidays. Nevertheless there is enough data events scheduled including key jobs reports that of Canada and US, and interest rate decisions by the Reserve Bank of Australia and the
Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker U.S. dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week marking the end of their 2020 output reduction pact. U.S. West Texas Intermediate (WTI) crude futures for September delivery rose
Dollar ended broadly lower last week, as the worst performer, as hammered by the events of FOMC meeting and GDP release. In short, Fed chair has signalled slower tightening pace ahead and the message was reinforced by another quarterly GDP contraction print. Whether the US was already in recession or not, Fed is turning from
The major stock indices are ending with solid gains for the day: Dow industrial average rose 315.50 points or 0.97% at 32845.14 S&P index rose 57.86 points or 1.42% at 4130.28 NASDAQ index rose 228.10 points or 1.8% at 12390.70. That’s a largest increase cents April 2020 Russell 2000 rose 12.20 points or 0.65% at
Gold along with other commodities rose for the second consecutive week as the US dollar dipped deeper into the red territory. The commodity US dollar inverse relation has strengthened further in the last few days and trends in the US dollar may continue to remain the key price determining factor as market players try to
The USD is closing the day lower despite some higher than expected inflation measures at the start of the day. The Core PCE came in at 4.8% trend higher than the 4.7% expected. The employment cost index rose by 1.3% for the quarter which was also higher than the 1.2% expectations. University of Michigan consumer