It was a steady sideways day for most of major FX with small ranges and not a lot of net change. GBP, EUR, NZD, CAD are all a few tics up against the US dollar while USD/CHF and USD/JPY are more or less unchanged. The focus was once again on China today, both news and
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Gold prices were flat on Wednesday, as traders focused on U.S. inflation data for rate clues after less hawkish comments from the Federal Reserve chief fuelled a bullion rally last session. FUNDAMENTALS * Spot gold was little changed at $1,819.51 per ounce by 0135 GMT. U.S. gold futures were up 0.1% at $1,819.80. * Fed
Overall mood in the market is positive today, major European indexes and US futures trading up. The question is whether US stocks, in particular NASDAQ, could build on yesterday’s strong rebound for some more gains. Benchmark treasury yields are firm globally. Gold and Silver also recover. In the currency markets, most major pairs and crosses
58 new covid cases were reported today in Anyang and the city of 5 million is now in total lockdown, with residents only permitted to leave home to get a test. The outbreak there was detected on the weekend and has been traced to a university student who traveled 600 km to the city from
Gold price in the national capital on Tuesday jumped Rs 104 to Rs 46,606 per 10 grams, in line with a rally on international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,502 per 10 grams. Silver also gained Rs 408 to Rs 59,700 per kg
Overall market sentiment is rather mixed for the moment. Despite the initial steep selloff overnight, major US indexes staged an impressive come back towards the end of the session. NASDAQ even eked out a slight gain. Gold is back above 1800 handle while Bitcoin appears to be supports by 40k for now. Investors are probably
APAC major FX traded in limited ranges awaiting testimony from Federal Reserve System Chair Powell on Tuesday (11 January 2022 US time (see bullets above)). EUR, GBP, AUD, NZD, CAD are all slghtly firmer against the USD while USD/JPY has managed a 20 or so point gain. Yen crosses are thus higher on the session.
Gold prices were flat on Tuesday, as markets anticipated quicker rate hikes based on key DecemberU.S. inflation data due later this week, while stronger bond yields continued to cap gains. FUNDAMENTALS * Spot gold was little changed at $1,803.29 per ounce by 0017 GMT. U.S. gold futures were up 0.2% to $1,802.20. * The benchmark
Yen rebounds notably as US futures take a dive just ahead of North American session, while European index also reverse earlier gains. While Dollar is dragged down by Yen, it’s somewhat still resilient against others. Selling is mainly seen in Swiss Franc and, to a lesser extent, Euro. Commodity currencies are mixed. We’ll have to
The early-week US economic highlight will be CPI and that will dominate the conversation until it’s released but on Friday there could be a new set of worries with the release of December retail sales. The consensus is +0.1% on the headline, +0.3% excluding autos and +0.2% on the control group. Bank of America has
New Delhi: Gold in the national capital on Monday declined Rs 54 to Rs 46,448 per 10 grams in line with weak international precious metal prices along with rupee appreciation, according to HDFC Securities. The precious metal settled at Rs 46,502 per 10 grams in the previous trade. Silver also dipped by Rs 178 to
Euro turns softer in a quiet Asian session together with Swiss Franc, but Yen is even weaker. On the other hand, Aussie is ticking up slightly together with Loonie and Dollar. Overall, trading is rather subdued with major Asian stock indexes treading water in tight range, and Japan is on holiday. Focuses will turn to
SINGAPORE: lost more ground on Monday as rapidly climbing cases of the Omicron COVID-19 variant hit economic activity, although losses were curbed by supply disruptions in Kazakhstan and Libya. Brent crude slid 38 cents, or 0.46%, to $81.37 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 34 cents, or 0.43%, to $78.56
The minutes of the FOMC meeting “shocked” the market this week, after the Fed said that they would look to decrease the Fed’s balance sheet. That typically comes from letting the maturing issues on the balance sheet run off without replacing them with new buys from the Fed. Since the start of the QE, the
NEW DELHI: The ninth tranche of the sovereign gold bond (SGB) scheme 2021-22 will open for subscription on Monday. This issue comes amid increased demand for bullion given heightened market risks. Investors can bid for a minimum of 1 gm of gold at Rs 4,786 against Rs 4,791 per gram for the previous tranche. There
In one version of history, the huge spontaneous protests in Kazakhstan were the result of years of grievances that boiled over after an increase in propane and butane prices, which are widely used as auto fuels there. In another version, a ‘hybrid war’ is ongoing where there’s an ongoing “attempt to undermine the security and
SINGAPORE: The world’s top oil exporter, Saudi Arabia, has cut February’s official selling price (OSP) to Asia for its Arab light crude to plus $2.20 a barrel versus Oman/Dubai crude. The February OSP to Asia for the Arab light grade is the lowest in three months. State oil giant Saudi Aramco on Thursday set the
It was a roller coaster ride as traders came back for the new year. Markets were in full risk-on mode as worries over Omicron faded. Yet, sentiment turned after more hawkish than expected FOMC minutes. Major stock indexes were than in deep pull back. Major global benchmark treasury yields powered through key resistance level. In