Yen’s selloff continues in Asian session today, on expectation of further divergence in BoJ’s policy with other major central banks. BoC’s mega 100bps hike overnight prompted talks that Fed could follow later in the month, given that headline consumer inflation is showing no sign of even plateauing. Dollar remains the strongest one for the week,
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What a difference a month makes. In May, US CPI rose to 8.6% compared to 8.3% and 10-year Treasury yields surged to 3.50% from 3.02%. This time around CPI was at 9.1% compared to 8.8% expected. 10-year yields initially moved to 3.07% from 2.95% but have since reversed and are now below the pre-CPI level
Gold prices declined by Rs 85 to Rs 50,487 per 10 grams in the local market here on Wednesday, according to securities. In the previous trade, the precious metal closed at Rs 50,572 per 10 grams. Silver prices rose by Rs 161 to Rs 56,179 per kg from Rs 56,018 per kg in the previous
Dollar rises in early US session after data shows that headline consumer inflation accelerated once again in June, to the highest level since 1981. Yen is currently the worst performing one on rise in US and European benchmark yields. But there is prospect for recovery in Yen, except versus Dollar, if risk off sentiment intensifies.
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Malaysian palm oil futures plunged more than 6% on Wednesday due to weak July exports and as fears of renewed COVID-19 curbs in China sparked a selloff in rival Dalian oils. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange slid 276 ringgit, or 6.71%, to 3,840 ringgit ($866.62) a
Sterling is in recovery today, and it’s supported by better than expected monthly GDP data. Yen is currently the softer one. But overall trading is quiet in the currency markets. RBNZ’s rate hike doesn’t give any lift to Kiwi. Canadian Dollar is range bound, awaiting BoC rate decision. Meanwhile, Dollar is consolidating recent gains, awaiting
Oil has been remarkably volatile this month but also remarkably difficult to explain. Move of more than 5% have become routine and 10% moves not uncommon. What’s making it especially tough for oil traders is the lack of a correlation with any kind of news or events. Today’s sharp drop doesn’t correspond with moves in
Oil prices fell sharply on Tuesday on a strong dollar, demand-sapping COVID-19 curbs in top crude importer China and fears of a global economic slowdown. Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48. U.S. West Texas Intermediate crude was down
Dollar’s rally continues today and breached parity against Euro for the first time in two decades. Nevertheless, the greenback seems to be losing some momentum since then, in particular against Yen. There is prospect of a deeper retreat for Dollar as 10-year yield is also weakening slightly. Yen is currently the stronger one for today,
Risk tones are keeping more defensive again, with stock futures pointing lower alongside Treasury yields. The dollar remains in a good spot with EUR/USD staying on track towards parity ahead of European morning trade. USD/JPY is also holding above 137.00 as buyers seek to establish firmer footing for an extended upside push, though lower yields
NEW DELHI: Gold prices were marginally down on Tuesday, hitting multi-month lows as the firm US dollar dented the appeal of the safe-haven metal. Strength in the US dollar makes greenback-priced gold more expensive for buyers holding other currencies. Traders awaited the US consumer price index data, a key measure of inflation, set to be
The Bank of Canada meeting is on Wednesday and the OIL market is fully priced for a 75 basis point hike. That’s a big clue on why the Canadian dollar continues to hang neck-and-neck with the US dollar as the top performer of 2022. The Australian and New Zealand dollars have fallen off but that’s
Gold in the national capital on Monday declined by Rs 114 to Rs 50,561 per 10 grams amid decline in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,675 per 10 grams. Silver also declined by Rs 136 to Rs 56,760 per kg from Rs 56,896
Dollar’s rally is accelerating as markets enter into US session. Swiss Franc and Canadian are following the greenback. But Australian Dollar is the worst, together with New Zealand Dollar. But Yen is also weak, with little help from risk off sentiment. Euro is mixed even though a market inflation gauge, the five-year, five-year forward inflation
The pantomime of choosing the next leader of the Conservative Party, and thus the Country, begins this week. There will be many many twists and turns, plus a whole lot of sh*t flung. As with most things surrounding the workings of British politics, it can all seem a bit confusing at times, so here is
NEW DELHI: Gold prices were trading flat, almost unchanged, on Monday as the firm US dollar dented the appeal for the yellow metal. The bullion was pinned near a nine-month low seen last week. Gold marked a fourth straight weekly loss on Friday, having hit its lowest since late September a few sessions prior, hurt
Yen’s selloff resumes in Asian session with USD/JPY making new recent high. The ruling coalition of Liberal Democratic Party and its junior partner Komeito scored a strong victory in Japan’s upper house elections. There might be sympathetic votes for the tragic death of former Prime Minister Shinzo Abe. But it’s also seen as a nod