Dollar is consolidating some gains in Asia session today but remains overwhelmingly the strongest for the week. Yen is following closely as second best. Yet, there is no one-sided risk aversion in the markets to help Yen against Dollar. US stock indexes ended mixed overnight only, while Asian markets are trading in narrow range. Swiss
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Forex news from the European trading session – 18 June 2021 Headlines: Markets: JPY leads, AUD and NZD lag on the day European equities lower; S&P 500 futures down 0.2% US 10-year yields down 1.9 bps to 1.485% Gold up 1.1% to $1,793.50 WTI down 0.6% to $70.60 Bitcoin up 0.5% to $37,925 There wasn’t
NEW DELHI: Zinc prices on Friday fell 0.09 per cent to Rs 233.35 per kg in the futures trade, as speculators reduced their exposure taking negative cues from the spot market. On the Multi Commodity Exchange, zinc contracts for the June delivery traded lower by 20 paise, or 0.09 per cent, to Rs 233.35 per
Sterling is among the worst performing currency for today, together with commodity currencies. Poor retail sales data from the UK is weighing on the Pound. Additionally, the resurgence in coronavirus infections, now due to the delta variant, in the UK is concerning. Daily new cases jumped above 11k, after average around 2k just a month
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NEW DELHI: Domestic gold futures tanked by more than Rs 1,600 on Thursday mirroring losses in global benchmarks, as the dollar and US bond yields surged after the US central bank’s projection of earlier-than-expected rate hikes. The August 5 contract of the yellow metal on MCX fell as much as 3.38 per cent or Rs
Dollar’s post-FOMC strength continues to overwhelm the markets today. Though, Yen is also catching up as US futures point to a weak open. Selling in commodity Yen crosses is also helping the Japanese currency. Swiss Franc is currently the worst performing, as SNB sounded it’s fully in inertia despite better growth and inflation outlook. Kiwi
Initial jobless claims and continuing claims for the current week Prior week Initial jobless claims 412K versus 360K estimate. The prior week was revised marginally lower to 375K from 376K 4-week moving average of initial jobless claims 395K versus 403K last week. This is the lowest since March 14, 2020 Continuing claims 3518K versus 3425K estimate. The prior
NEW DELHI: Copper futures on Thursday slipped 1.09 per cent to Rs 714.20 per kg, as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the June delivery eased by Rs 7.90, or 1.09 per cent, to Rs 714.20 per kg in a business turnover
Dollar surges overnight after much hawkish than expected Fed interest rate projections. The case of near term bullish reversal continues to build up and there is prospect of further rally before weekend. Markets are relatively mixed elsewhere though. Australian Dollar is lifted by strong job data while New Zealand Dollar is supported by strong GDP.
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LONDON: Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favour of renewables, US-based Castleton Commodities International said. “You could see spikes to even higher than $100 a barrel, even $130, and you could also see it
Dollar softens quite notably in early US session as markets await FOMC rate decision. Though, Swiss Franc and Euro appear to be slightly weaker. On the other hand, Kiwi and Aussie are strengthening mildly but Canadian Dollar shrugs off stronger than expected consumer inflation data. Sterling also firms up mildly earlier today, but lacks follow
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Domestic gold rates moved higher on Wednesday as equities retreated from record levels ahead of the release of the US central bank’s policy statement following a two-day meeting. Market participants keenly watched out for any signs of early tapering of stimulus in the world’s largest economy. MCX gold futures rose by Rs 140 to Rs
China’s major economic data missed expectations in May. Industrial production (IP) expanded +8.8% y/y in May, worse than consensus of +9.2% and April’s +9.8%. Retail sales growth decelerated to +12.4% y/y, from +17.7% in April. The market had anticipated a +14% growth. Fixed asset investment (FAI) gained +15.4% y/y in the first 5 months of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
LONDON: Oil prices reached their highest in more than two years on Tuesday, buoyed by expectations demand will recover rapidly in the second half of 2021. Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel by 1311 GMT, the highest since late April 2019. US oil gained 88 cents, or 1.2%, to $71.76