The financial markets have responded rather well to Fed’s rate hike overnight. The close in major US indexes was strong while Asian stocks also follow higher. Yen is clearly pressured and is extending recent decline, following rally in benchmark treasury yields. On the other hand, Australian and Canadian Dollar are strong. Dollar and Euro are
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Markets: AUD leads, JPY lags WTI crude oil down $1.66 to $94.77 US 10-year yields up 1 bps to 2.17% US 2-year yields up 6 bps to 1.91% Gold up $11 to $1928 S&P 500 up 2.1 The lead up to the FOMC rate decision involved steady selling in the US dollar on hopes for
Lane was among a small group of officials who worried it was hiding in plain sight — that the likes of Glencore Plc, Cargill Inc., Vitol Group and Trafigura Group, the secretive giants that underpinned global trade in natural resources, represented a systemic financial risk. “Could the failure of one of the large trading houses
Canadian Dollar surges broadly in early US session after stronger than expected consumer inflation reading, which solidifies the case for more tightening from BoC. Though, as for today, Aussie is still the strongest, as helped by the massive rebound in China stocks earlier. Yen is turning soft again but following global risk rebound, and more
The Hang Seng tech index is up by roughly 20% today and that is sending the main index soaring by 8% as sentiment in Chinese stocks turn after a dismal past few weeks. The Shanghai Composite is also up by 3% on the day currently. Of note, the Hang Seng is finding support from the
NEW DELHI: Gold prices fell on Wednesday as safe haven demand eased after Ukraine said it sees a possible room for compromise in talks with Russia even as Moscow stepped up bombardment. The price fall was, however, restricted ahead of the outcome of the Federal Reserve policy later in the day. On Wednesday, gold futures
Dollar is digesting some of this week’s gain as markets are awaiting FOMC rate hike and economic projections. There are a lot questions to be answered given the uncertainty over inflation and the economic impact of Russia invasion of Ukraine. As for today, Aussie and Euro are the stronger ones while Dollar and Yen are
The price of WTI crude oil futures are settling at $96.44. That is down $6.57 or -6.38%. The low for the day reached $93.53. The high was around $9 higher at $102.58. Looking at the hourly chart above, the price today fell below the 50% midpoint of the move up from the December 2, 2021
Euro and Sterling are the relatively stronger ones today, but gains are so far limited. The rallies are still capped by the war uncertainties. Economic data is not really playing a role here, considering the UK job data was solid while German economic sentiment plunged. Meanwhile, Canadian Dollar and Swiss Franc are the softest ones,
Prices in India, the world’s biggest consumer after China, have rallied in the past month in line with the overseas markets as investors sought safe havens following Russia’s invasion of Ukraine. The country imports almost all the bullion it consumes and costs are rising as the Indian currency trades near a record low. “Buyers have
The dollar is trading slightly lower to start European morning trade as market flows are proving rather mixed at the moment. Treasury yields are lower and so are equities but the likes of the euro are higher, whereas gold and oil are still consolidating losses on the day. It’s hard to make sense of the
NEW DELHI: Gold prices dropped on Tuesday, nearing their weekly lows as the US Treasury yields spike ahead of an expected rate hike from Federal Reserve on Wednesday. Peace talks between Russia and Ukraine also dampened the bullion’s appeal. Russian and Ukrainian delegations held a fourth round of talks on Monday. Gold futures on MCX
Sentiment is mixed overall as Russia invasion of Ukraine is continuing. Asia is split into two world, with Nikkei and Singapore markets steady. But Hong Kong and China stock markets are in steep selloff again, after US warned China of helping Russia of easing the impact of sanction. The upbeat Chinese data are generally ignored.
Saudi Arabia has to be wondering if what happened to Russia can happen to it. The Kingdom has been an ally of the US and was the first place Donald Trump visited but Bin-Salman was undoubtedly ratteld by the Jamal Khashoggi fallout and watching the social media pressure heaped to do more on Russia after
New Delhi: Gold on Monday declined by Rs 362 to Rs 52,443 per 10 grams in the national capital in line with its weak international prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 52,805 per 10 grams. Silver also tumbled Rs 612 to Rs 69,665 per kg from
European stocks are recovering mildly as Ukraine is going to have another round of talks. But overall sentiment is vulnerable is Russia continues massive shelling and there is no sign of a real stop in its invasion. In the currency markets, Yen’s broad based decline continues today, but Aussie is the weakest, partly weighed down
That is the key risk event on the calendar in the week ahead, outside of the usual Russia-Ukraine shenanigans and also the BOE policy meeting on Thursday. We’ve gone from the Fed will hike 25 bps to the market pushing for the Fed to hike 50 bps to Fed officials paring back those expectations to
NEW DELHI: Gold prices dropped on Monday following a rise in US Treasury yields on the back of rate hike expectations by the US Fed later this week. Higher hopes of truce between Russia and Ukraine, pushed the appetite for riskier assets higher, which further dented bullion’s appeal. Gold futures on MCX were trading lower