USD/CAD sellers pounce after squeeze higher USD/CAD has leveled out at 1.2550 but is easily the strongest G10 currency on the day, down 120 pips to 1.2554. The pop on Monday looks like a short squeeze, in part because it exceeded the moves in other commodity currencies. Why? Because there was a large net-long CAD
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LONDON: Oil prices rose on Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories last week and a weaker demand outlook due to rising COVID-19 infections. Brent crude futures gained 97 cents, or 1.4%, to $70.32 a barrel at 1136 GMT,
The forex markets appear to be turning into a consolidative phase for now. Yen is trading broadly lower as European indexes and US futures rebound further. Canadian Dollar is the strongest one with WTI crude oil reclaiming 68 handle. Aussie and Sterling are following as the next strongest for the day. But after all, there
Daily thread to exchange ideas and to share your thoughts After a tumultuous start to the week, the market is settling down as we see a bit more of a flattish and tepid tone going into European trading today. The rebound in stocks and yields yesterday helped to relieve some of Monday’s suffering but overall sentiment remains
Gold eased on Wednesday as the dollar emerged as the preferred safe-haven bet amid fears that the highly contagious Delta coronavirus variant may stall a global economic recovery, while a rebound in U.S. bond yields further pressured bullion prices. Spot gold was down 0.2% to $1,806.56 per ounce, as of 0258 GMT. U.S. gold futures
While US stocks staged a strong rebound overnight, the moves didn’t follow through in mixed Asia. There is also little reaction in the currency markets. Yen and Dollar remain the strongest ones for the week, despite retreating mildly. New Zealand Dollar is the worst performer, followed by Aussie and then Sterling. Euro is not performing
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New Delhi: Gold in the national capital on Tuesday gained Rs 253 to Rs 47,100 per 10 gram amid supportive global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,847 per 10 grams. Silver slipped Rs 61 to Rs 65,730 per kilogram from Rs 65,791 per kilogram
Overall sentiments in the financial markets remain rather fragile today, despite some stabilization. Major European indexes are trading slight up while DOW futures also gains over 150 pts at the time of writing. But there appears to be little support for treasury yield, with Germany 10-year yield below -0.4 handle at -0.42. US 10-year yield
Light bounces in US futures, Treasury yields After the sizable moves yesterday, the shallow bounces so far today is one that can be expected. Hence, this may just be a bit of a breather more than anything else. US 10-year yields are holding back above 1.20% in a slight bounce today but it doesn’t absolve
NEW DELHI: Gold moved higher on Tuesday, recovering from the scars of previous session, as rising Delta virus threat spooked investors. Both precious metals posted decent gains on . Gold futures on MCX were up 0.38 per cent or Rs 184 at Rs 48,278 per 10 grams. Silver futures gained 0.29 per cent or Rs
Overall market sentiments stabilized in Asia, after the massive risk-off trades in the US overnight. While Asia indexes are still down, losses are limited. Yen and Swiss franc are paring some gains but remain the overwhelmingly strongest ones. Commodity currencies are the weakest as led by Canadian Dollar. Dollar and Euro are mixed for now,
WTI settles down $5.39 to $66.42 I read a great note today from RBC arguing that the physical market is tight inventories continuing to draw down to some of the lowest levels in 6 years. On top of that, China and Indian are refining more than they’re importing so they’ll be back as buyers soon.
New Delhi: Gold in the national capital on Monday dipped Rs 126 to Rs 46,967 per 10 gram in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,093 per 10 grams. Silver also went lower by Rs 97 to
Yen and Swiss Franc dominates the markets for the day, as selloff in stocks spread from Asia to Europe, to US. Risk aversion intensified with DOW down over -800 pts in initial trading, while 10-year yield breaks1.2 handle. Canadian Dollar is the worst performing one, as WTI crude oil breaks below 70 handle. However, Australian
US futures down, Treasury yields lower The market is taking a bit more of a cautious step as we look to get things going in Europe today, as Asian equities retreat alongside US futures while Treasury yields are marked lower (though off the early morning lows at least). S&P 500 futures are down 0.3%, Nasdaq
By Ravindra Rao Gold futures have gone back and forth during the course of the week following mixed economic numbers. Gold August futures witnessed a pause in its rally after retracing 61.8% of the previous downtrend near Rs 48,450. So, the price has to move above the 61.8% Fibonacci level to push towards the next
Yen rises broadly as the markets start the week with risk aversion in Asia. On the other hand, Canadian Dollar is trading as the weakest, leading other commodity currencies lower. European majors are mixed together with Dollar for the moment. The economic calendar is rather light today and focuses will stay on development in the