Euro rebounds notably today as Germany 10-year yield turns positive. Nevertheless, Australian Dollar is even stronger as markets await RBA rate decision. On the other hand, Dollar and Yen are paring some recent gains. Sterling and Canadian Dollar are mixed. Technically, EUR/GBP appears to be drawing support from 0.8304. Rebound from current level, followed by
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The major European indices are ending the day mostly higher. The exception is the UK FTSE 100 is the struggles through the implications of the Susan Gray report on the Covid parties at No. 10. German DAX, +1% France’s CAC, +0.5% UK’s FTSE 100, -0.05% Spain’s Ibex, unchanged Italy’s FTSE MIB +0.95% In the European
Gold price in the national capital on Monday declined marginally by Rs 5 to Rs 47,507 per 10 grams in line with weak international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,512 per 10 grams. Silver also dipped by Rs 27 to
The markets are generally steady in Asian session. Dollar is paring some recent gains while Yen and Swiss Franc soften. Trading in Asia would likely be subdue for the next few days on Lunar New Year holidays. But volatility is anticipated in the week as a whole considering the massive amount of key events featured,
Markets: Gold down $5 to $1786 S&P 500 futures up 12 points to 4435 US 10-year yields up 1.3 bps to 1.79% WTI crude oil up $1.07 to $87.90 Hong Kong Hang Seng up 1.1% NZD leads, JPY lags The week kicked off the same way Friday ended: With a positive tone. This time, moreso
NEW DELHI: Gold prices were flat on Monday, bucking the weak trend in the international market. Yellow metal was set for their biggest monthly drop since last September. Gold remained under pressure as the US dollar strengthened ahead of key central bank meetings, making bullion more expensive for holders of other currencies. Gold futures on
China’s official manufacturing PMI slipped to 50.1 vs 50.3 in January, a number highlighting only the slightest bit of growth. The private survey from Caixin was worse falling to 49.1 from 50.9. The Caixin reading is the lowest since the dawn of the pandemic: China is struggling with rising covid cases in a number of
TOKYO: Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. Brent crude futures climbed 49 cents, or 0.6%, to $89.83 a barrel at 0310 GMT, after falling 62 cents during the previous day. However,
There’s an old saying in markets: So goes January, so goes the year. Investors better hope it’s not true. The S&P 500 currently sits higher by 36 points on the day to 4362. That puts the month-to-date move at -8.47%. The all-time worst January was in 2009, which produced an 8.6% decline. To beat that,
Mumbai: India’s gold consumption surged to 797.3 tonnes in 2021, on the back of recovery in consumer sentiments and pent-up demand post COVID-19-related disruptions and the bullish trend is set to continue this year as well, according to the World Gold Council (WGC). WGC in its Gold Demand Trends 2021 Report said India’s total gold
The 3 major indices (Dow, S&P and Nasdaq) rode a wave of buying higher on the day, closed at the highs and just like that, erased the declines for the week. The Dow, S&P and Nasdaq each had best day of the new year Dow and S&P posted their first weekly gain in four weeks
Oil posted its sixth straight weekly gain, with prices trading near a seven-year high as crude makes a roaring start to 2022. West Texas Intermediate rose 2% for the week as robust demand tightened global markets. As supply remains constrained, a chorus of Wall Street banks and oil executives are forecasting a return to $100
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly to end as the strongest one. Nevertheless, reactions in the stock markets, while wild, were not pessimistic. Sterling followed as
Markets: Gold down $8 to $1788 WTI crude oil up 50-cents to $85.79 US 10-year yields down 2 bps to 1.78% S&P 500 up 105 points, or 2.4%, to 4431 JPY leads, NZD lags I’m inclined to avoid attaching a fundamental narrative to any of today’s price moves. It was a volatile month and it’s
Mumbai: Global gold demand rose 10 per cent to 4,021.3 tonnes in 2021 on account of a massive 50 per cent surge in year-on-year demand — a 10-quarter high — during the December quarter, a report by the World Gold Council (WGC) said. The overall gold demand during 2020, which was impacted following Covid-19 related
Dollar retreats mildly today after PCE inflation data posted no surprises. While there is some profit taking, the greenback remains the strongest one for the week by some distance. Selling focus has turned from Euro to commodity currencies today, as lead by Aussie. The overall close would still depend on development in risk sentiment, which
MUFG Research maintains an EUR/CAD short and they’re doubling down in their weekly trade of the week. They are short the pair targeting 1.3500 with a stop at 1.4670. Spot is currently at 1.4257. “We are maintaining a short EUR/CAD trade idea. The trade idea is to reflect widening policy divergence between teh BOC and
New Delhi: Gold price in the national capital declined by Rs 423 to Rs 47,777 per 10 grams on Friday amid weak international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 48,200 per 10 grams. Silver also dipped by Rs 1,105 to Rs