Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall directions in the currency markets will
News
Major indices down over 1% in Europe at the open Eurostoxx -1.1% Germany DAX -1.4% France CAC 40 -1.5% UK FTSE -1.2% Spain IBEX -1.6% The declines here are exacerbated by the fact that European indices closed modestly lower yesterday, just before the sharp fall in US stocks came about late on.Invest in yourself. See
MELBOURNE: prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil. U.S. West Texas Intermediate (WTI) crude futures slipped 5 cents to $74.98 a barrel at 0153 GMT,
The RBNZ is almost certain to raise the OCR by +25 bps to 0.5% next week. The Funding-For-Lending program (FLP) will stay unchanged at NZ$28B. This should not be affected by the slowdown in economic activities in the third quarter. While cautioning about the uncertainty of the pandemic and economic damage brought about by the
According to four OPEC+ sources According to 4 OPEC+ sources: OPEC+ is considering options for releasing more oil to the market at next week’s meeting The price of crude oil has come off on the news and currently trades at $75.04. The high price reached $76.04. The current deal is to increase production by 400K BPD one
New Delhi: Gold in the national capital on Thursday declined by Rs 154 to Rs 44,976 per 10 gram reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, it had settled at Rs 45,130 per 10 gram. Silver also dipped Rs 1,337 to Rs 57,355 per kilogram
Dollar retreats mildly in Asian session but remains the strongest one over the week. The rally in treasury yields appear to be taking a breather. But 10-year yield is holding firm above 1.54 handle, while 30-year yield is also above 2.0 handle. Canadian is following as the second strongest, and then Aussie. On the other
Daily thread to exchange ideas and to share your thoughts It is all about month-end and quarter-end trading today but the key themes in the market are all still at play i.e. focus on energy prices, bond yields, and risk sentiment.Invest in yourself. See our forex education hub. That said, perhaps only once we get past any
NEW DELHI: Gold prices were trading little higher on Thursday in the domestic market, following global cues. However, the yellow metal hovered near a seven-week low as a stronger dollar and taper expectations weighed on sentiments. Gold futures on MCX were trading higher 0.34 per cent or Rs 156 at Rs 45,925 per 10 gram.
Dollar is generally strong today, but buying focus is temporarily shifted from against Yen to Euro and Sterling. In particular, EUR/USD has taken out key support level at 1.1663. Overall markets are mixed though, with stocks recovering while treasury yields retreat. Yen and Swiss Franc are the stronger ones for today followed by the greenback.
The world is changing The long-term effects of recessions are tough to see but consider this. From 2007-2009 there was a financial crisis. Initially it led to heavy layoffs in the financial sector but that sector fully recovered in time. Meanwhile, it was the goods producing sector that was decimated, declining by 16% and it
New Delhi: Gold in the national capital on Wednesday rose by Rs 264 to Rs 45,123 per 10 gram with recovery in global precious metal prices along with rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 44,859 per 10 gram. Silver also jumped Rs 362 to
Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk sentiment. Sterling is also soft with eyes on the energy troubles. But overall development is
Reuters reports on the matter, citing two banking sources It is being reported that Chinese authorities are looking to increase curbs on currency speculation by tightening control over the inner workings of the market. Among such measures are pressuring banks to trade less and in smaller ranges. Adding that China’s FX regulator has urged market
Sept 29: Gold prices were flat near a seven-week low on Wednesday, pressured by a rise in the dollar and U.S. Treasury yields on growing expectations of an earlier-than-anticipated interest rate liftoff. FUNDAMENTALS * Spot gold was flat at $1,735.17 per ounce by 0123 GMT. On Tuesday prices fell to their lowest level since Aug.
Sterling tumbles broadly today on increasing talks of energy shortages due to a post-Brexit shortage of truck drivers, as well as a halt to license testing during pandemic lockdowns. Mild risk aversion, which start in European markets, is also weighing down some commodity currencies. Nevertheless, there is little lift to Yen overall, which stays weak
WI was trading at at the time of the auction 1.324% High yield 1.332% WI level at the time of the auction 1.324% Bid to cover 2.24 versus six month average of 2.31x Directs 20.92% versus six month average of 19.8% Indirects 60.09% versus six month average of 58.9% Dealers 18.99% versus six month average of 21.3% The
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally. Brent crude had gained 12 cents, or 0.1%, to $79.65 a barrel at 1358 GMT, after reaching their highest level since October 2018 at $80.75.