Inflation data were the main drivers in the forex markets in the past 12 hours. New Zealand Dollar turned slightly weaker after Q1 CPI came in lower than expected, despite surging to 30-year high. On the other hand, Canadian Dollar remains supported by the stronger than expected CPI readings released overnight. Dollar’s retreat appears to
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Yields are on the march once again. US 2-year yields are up 8.4 bps to 2.66%, which is a new cycle high. The long end is still below yesterday’s highs but 30-year yields have climbed to 2.97% from 2.89% at the start of US trading. It’s a straight-line move across the bond curve with yields
New Delhi: Gold prices declined by Rs 46 to Rs 52,357 per 10 grams in the national capital on Thursday in line with weak global trends, according to HDFC Securities. In the previous trade, gold had finished at Rs 52,403 per 10 grams. Silver also declined by Rs 103 to Rs 67,968 per kg from
Euro rebounds strongly today as some ECB policymakers continued to talk up the chance of a July rate hike. Canadian Dollar is following as second strongest, continuing to be supported by strong inflation data. Dollar is not performing too badly for now, as third strongest. On the other hand, New Zealand Dollar remains under pressured
The US dollar is generally a little firmer across the major FX board today, with USD/JPY a notable mover back towards 128.50 (well shy of its highs into the 129s on Wednesday). There was no catalysing move for the USD/JPY gains, market volatility is providing the swings. NZD/USD was another notable mover. Q1 CPI data
April 21: Gold prices dipped on Thursday, tracking a rebound in U.S. Treasury yields and the dollar, which continued to weigh on demand for safe-haven bullion. FUNDAMENTALS * Spot gold was down 0.2% at $1,953.21 per ounce, as of 0039 GMT. U.S. gold futures were nearly flat at $1,956.20. * U.S. Treasury yields firmed after
Japan’s benchmark 10-year JGB yield is pulled above BoJ’s cap of 0.25% in Asian session today. That triggered intervention by BoJ to defend the ceiling. At the same time, USD/JPY breached 129 handle but quickly retreated, on talks that BoJ could also intervene at around 130. But judging from overall price actions, the pull back
Canadian CPI was beyond anyone’s expectations in March but a change to the calculations around mortgages and home prices contributed to some of the beat. Statistics Canada said: “With the release of the March 2022 Consumer Price Index (CPI), a new data source for resale house prices, in addition to the New Housing Price Index,
NEW DELHI: Gold prices dropped sharply on Wednesday to weekly lows following strength in US dollar and treasury yields, which dented bullion demand. On Tuesday, prices of the yellow metal fell up to 1.8 per cent as a stronger dollar and rising Treasury yields overshadowed inflows into bullion. Gold futures on MCX dropped 0.56 per
Canadian Dollar surges in early US session after much stronger than expected consumer inflation data, which supports more aggressive tightening by BoC. Other commodity currencies are also strong. On the other hand, Dollar is trading broadly lower as recent rally lost momentum, in particular against Yen. Euro is also soft, together with Sterling and Swiss
Once again it was mainly about yen across major FX today. USD/JPY popped above 129.00 in very early Asia trade before topping out on the session around 129.40. The Bank of Japan intervened in the JGB market again today (they had done so in late March) to buy an unlimited amount of 10 year Japanese
April 19: Gold prices steadied on Tuesday, after getting within a stone’s throw of the key $2,000 per ounce level in the previous session, as lower U.S. Treasury yields offset pressure from two-year highs in the dollar. FUNDAMENTALS * Spot gold held its ground at $1,977.61 per ounce, as of 0013 GMT. U.S. gold futures
Selloff in the Japan Yen continued this week and intensified in Asian session today. The move came as global benchmark treasury yields powered up, including those in the US, Germany and UK. For now, commodity currencies are the stronger ones for, followed closely by Dollar. European majors are generally weak. Technically, Canadian Dollar appears to
MUFG Research discusses USD/JPY outlook and sees a scope for a move towards 130-level ahead of 135. “The yen has continued to weaken sharply during the Asian trading session with USD/JPY on course for its thirteenth consecutive higher daily close. It would be the longest run of losses since the Bloomberg price data started in
NEW DELHI: Gold prices eased on Tuesday after touching the key levels of $2,000 per ounce in the previous session. A stronger dollar dented the bullion’s appeal. Gold climbed to $1,998.10 on Monday, buoyed by safe-haven demand, as the Ukraine crisis dragged on and inflation concerns mounted. However, the metal later gave up most gains
Yen’s weakness remains the main theme today as selloff in major global treasuries continue. US 10-year yield breaches 2.9 handle while Germany 10-year yield breaches 0.94. UK 10-year Gilt yield is also heading towards 2% handle. Swiss Franc is following as second weakest together with Canadian Dollar. On the other hand, Aussie and leading the
ICYMI – this via a US Treasury statement on the schedule for U.S. Secretary of the Treasury Janet L. Yellen …at the 2022 IMF-World Bank Spring Meetings, G7 and G20 Finance Ministers and Central Bank Governors Meetings. Eyebrows will be raised by Yellen meeting with Suzuki, yen issues are likely to be a topic of
India’s state-run refiners are planning to buy as much Russian oil as possible while shifting their purchase strategy from tenders to negotiated deals to extract deeper discounts, people familiar with the matter said. State refiners have bought more than 15 million barrels of Russian crude from traders as well as Russian firms since the outbreak