Sterling recovers today, in particular against Euro and Swiss Franc, after Boris Johnson resigns as UK Prime Minister. But Aussie is so far still the strongest for the day. Euro remains generally weak but Dollar and Yen are also paring some recent gains. For the week, Aussie is the best performer for now, followed by
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Japan media reports that Tokyo is considering tightening up COVID restricitons Goldman Sachs’ 3 reasons warn of a more severe recession in the U.S., U.K., and Canada BOJ said to be fully committed to its easing policy. … D’uh Shanghai reports a big jump in new COVID cases Australian trade balance for May AUD +15,965m
Gold prices edged up on Thursday, from their multi-month lows hit in the previous session. However, the relief might be temporary, experts warned. An elevated dollar pressurised the safe bullion. Gold futures on were trading higher, gaining 0.29 per cent or Rs 148 at Rs 50,648 per 10 grams. Similarly, silver futures traded were up
The stock markets are starting to display some resilience, despite hawkish FOMC minutes. US stocks managed to close higher after initial selloff. Nikkei is also showing some strength in Asian session. Dollar and Yen are retreating mildly while Aussie and Kiwi are trading higher. As for the week, Euro and Sterling remain the runaway loser,
So Russia is curbing natural gas supplies to Europe at the moment. Officially, it’s due to a turbine that’s stuck in Canada because of sanctions. Scheduled maintenance also starts on July 11 and runs for two weeks. The fear is that Russia won’t turn the gas back on. German chancellor Scholz underscored that with his
London-World oil prices spiralled lower Wednesday on fears that a potential recession will slash demand, with Brent crude sinking under $100 per barrel for the first time since April 25th as recession fears fueled a broader selloff. Europe’s benchmark crude contract, Brent North Sea, dropped 3.3 percent to $99.39 per barrel in mid-afternoon deals, while
Selloff in Euro continues today, as it’s marching towards parity against the greenback. Some noted that it’s a perfect storm for the common currency, with stagflation risks, gas crisis, a prolonged war and fragmentation. Sterling is not too far behind with political uncertainties over Prime Minister Boris Johnson again, while Swiss Franc is also weak.
USD/JPY dropped a little lower during the session with Asia morning lows just under 135.20. Its not much above there as I update. Across major FX movement was subdued, especially following the huge shunt higher for the US dollar in Tuesday trade. AUD/USD popped above 0.6800 in a small range. NZD, GBP are also up
NEW DELHI: It is not common for analysts to agree on a price target for a commodity or a stock, but this time around, the targets for crude oil vary in between the wide range of $65 a barrel and $380 a barrel. Last week, global brokerage firm JPMorgan shocked everyone as its report estimated
Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling pressure together with Dollar. The development suggests that risk markets might be ready for a
The tech trade has roared back to life with the Nasdaq shaking off a nearly 2% decline to trade briefly in positive territory (now -0.2%). Two things that tech stocks like are: 1) Lower oil prices — WTI is down $13 from the intraday highs 2) Lower yields — tech is a long-duration asset and
Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, slid 8.4%, or $9.14, to trade at $99.29 per barrel. The contract last traded under $100 on May 11. International
Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak, with Aussie shrugging of RBA rate hike. Nevertheless, Canadian Dollar is relatively resilient Technically, EUR/USD’s
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Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. Brent crude futures rose 82 cents, or 0.7%, to $114.32 a barrel by 0105 GMT after a 2.4% gain on Monday. U.S. West Texas Intermediate crude climbed $2.58, or 2.4%, to
It’s a rather slow start to the week, with major pairs and crosses stuck inside Friday’s range. Trading could remain subdued for the day with the US on holiday. But there are lots of events to look forward to, starting from RBA’s rate hike tomorrow. Minutes of Fed and ECB meeting might not reveal anything
Prior was 56.8 Sentiment hit at 17-month low though still positive New orders at 23-month lows Production volumes grew in June for the 24th consecutive month Further acceleration in backlogs Input prices accelerated in June Full report (pdf) Everyone expects a slowdown in factory activity after the pandemic boom, but where it settles out is
New Delhi: Gold in the national capital on Monday rose by Rs 241 to Rs 52,048 per 10 grams amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 51,807 per 10 grams. Silver also gained Rs 254 to Rs 58,139 per kg from Rs 57,885 per