Falling global yields and mild risk off sentiment continue to boost Japanese Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. But the forex markets are mixed elsewhere for now. Dollar and European majors are stuck in near term ranges against each other. Eyes will turn to US consumer inflation data
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A piece in the Australian Financial Review highlights a potential next leg down in iron ore. Iron ore prices impact the Australian dollar so this is of note for AUD traders. In summary (and note, this is not ‘breaking news’ its been developing alongside the property sector woes in China): “The main driver of the
MELBOURNE: prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S. crude stocks unexpectedly fell last week just as near term travel demand picked up with pandemic curbs easing. U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3%, to $84.38 a barrel at 0132 GMT, adding
Gold price consolidates at the highest level in 2 months. Its recent rally has been driven by major banks’ attempt to tame rate hike expectations. We expect its strength to remain in the near-term. However, elevated inflation would eventually force central banks to reduce monetary stimulus and increase the policy rate, leading to decline in
Risk aversion hits markets A drop in equities has led to a quick risk-off style move in FX as the US dollar and yen rally against other currencies. The commodity currencies are being hit hard with the loonie jumping 38 pips to 1.2476. Oil has been surprisingly resilient in the latest round of worries but
NEW DELHI: Gold prices were unchanged in Tuesday’s session as a weaker US dollar offset firm bond yields. Gold futures on MCX were trading lower by 0.04 per cent or Rs 18 at Rs 48,000 per 10 grams. Silver futures were down 0.18 per cent or Rs 114 at Rs 64,767 per kg. Ravi Singh,
Yen’s rally resumes today while overall market sentiments are mixed. Asian stocks are treading water but US benchmark yield takes another dive. Swiss Franc is following as the second strongest for now. On the other hand, commodity currencies are trading broadly lower, as led by Aussie. Euro and Sterling are mixed. Main focuses will now
USD/JPY has fallen back under 113, dragging yen crosses lower. AUD/JPY notably, AUD/USD had fallen earlier in the session and is near its lows as I post. there is no fresh news apart from what has already been posted. It hasn’t been a good news day (it rarely is) with: further concerns emerging out of
New Delhi: Gold price in the national capital on Monday declined by Rs 8 to Rs 47,004 per 10 grams in-line with muted global trends as well as rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,012 per 10 grams. Silver gained Rs 216 to Rs
Dollar, Yen and Swiss Franc turned slightly weaker in quiet markets today. Euro is supported by better than expected investor sentiment data, while Sterling also recovers. New Zealand Dollar is also trading higher but Australian and Canadian Dollar are lagging behind. Gold is back above 1800 handle but has yet to break through 1833 key
Note the insane flows into big tech US equities are set for another record at the open as earlier concerns have been wiped away. S&P 500 future are 10 points higher, which would be the 8th record close in a row. Nasdaq futures are flat and all eyes are on TSLA, which is down 5.1%
New Delhi: Leading stock exchange NSE on Monday said it has completed the delivery of 24.5 kg gold (100 gram) bars in its gold mini options contract. The delivery was executed between East India Securities Ltd and Senco Gold Ltd, the exchange said in a statement. As another step towards market development, NSE also aligned
The financial markets are rather quiet today. Commodity currencies are paring back some of last week’s losses while Yen is retreating. But there is no change in the overall outlook, with the decline in Yen crosses more likely to continue than not. Trading could remain subdued first in European session with a light economic calendar.
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Nov 8: Gold prices extended a rally to hit a two-month high on Monday as a retreating bolstered the precious metal’s appeal. FUNDAMENTALS * Spot gold rose 0.1% to $1,817.65 per ounce by 0127 GMT, having hit its highest since Sept. 7 earlier in the session. * U.S. gold futures rose 0.3% to $1,822.30. *
The developments last week were a bit confounding, as both stocks and bonds rallied notably. Yen and Swiss Franc followed the path of falling yields and rose as the biggest winner of the week. Dollar was not much helped by Fed’s tapering and solid job data. Australia Dollar ignored broad risk-on sentiment, and ended as
The ‘yes’ side appears to be on the way to a win Elon Musk is playing games on Twitter, saying he will sell 10% of his Tesla stock — worth roughly $30 billion — if the results say so. Time is ticking down on the poll and you can see which way it’s going. Obviously,
Edible Oil prices show a declining trend across the country after the government cuts basic duty on crude palm oil, crude soyabean oil and crude sunflower oil from 2.5% to nil, said the ministry of consumer affairs, food & public distribution. Most edible oil companies like Adani Willmar and Ruchi industries have cut wholesale prices