Gold prices held steady on Wednesday as investors were cautious ahead of U.S. jobs data due later this week, but prices were set to post their worst month since November 2016 on the U.S. Federal Reserve’s shift to a hawkish policy stance. Spot gold was steady at $1,761.80 per ounce, as of 1231 GMT. U.S.
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Dollar and Yen are currently the mildly strong ones this week so far. US stocks ended mixed as S&P 500 and NASDAQ made new record highs, but DOW refused to follow and closed lower. Asian markets are also generally in red. Australian and New Zealand Dollars are notably weaker today, while Sterling is trailing. Technically,
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NEW DELHI: Gold prices declined by Rs 89 to Rs 46,167 per 10 gram in the national capital on Tuesday following weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,256 per 10 gram. Silver also declined by Rs 222 to Rs 67,926 per kg from
Dollar rises sharply today and takes the Japanese Yen higher too. There is no clear stimulus for the moves as other markets are mixed. The technical development suggests that this week’s retreat has completed already. New Zealand and Australian Dollar are currently the worst performing. But Euro and Sterling are not too far behind. Technically,
Forex news for Asia trading on Tuesday 29 June 2021 It was a subdued range session for major FX rates and even Bitcoin with a light news and data flow only. Nevertheless there were a few items of interest. Late in the US day a slew of banks announced increased dividends and also some on
Gold prices eased on Tuesday, as a firmer dollar made bullion expensive for holders of other currencies while concerns that the U.S. Federal Reserve will tighten its monetary policy sooner than expected also dented the metal’s appeal. Gold is seen as a hedge against inflation, though a rate hike by the Fed will increase the
Japanese yen is the worst performing major currency against US dollar in 1H21. A more hawkish Fed and actual inflation (divergent monetary policy), widening yield differential and inflation expectations are the key drivers to yen’s depreciation. In the second half of the year, persistence of these drivers could further strengthen USDJPY, though to a lesser
Dallas-area manufacturing data Prior was 34.9 Production 29.4 vs 15.7 prior New orders 26.7 vs 20.8 prior Wages and benefits index hits record 48.1 vs 39.0 prior (prior had also been a record) The main index has been bouncing around in the past few months but inflationary indications continue to rise. The raw materials and
NEW DELHI: Gold in the national capital on Monday gained Rs 116 to Rs 46,337 per 10 gram reflecting strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,221 per 10 gram. Silver also jumped Rs 161 to Rs 67,015 per kilogram from Rs 66,854 per
Dollar is pick up some upside momentum as markets enter into US session. Overall trading is rather subdued though. Economic calendar is near empty today while central bankers’ comments are largely ignored. Sterling is currently a firmer one together with the greenback. Swiss Franc is the worst performing one, together with commodity currencies. Technically, as
Forex news for Asia trading on Monday 28 June 2021 Mixed results across major FX rates today but characterised in summary by a slightly stronger US dollar on slightly firmer US yields. Early trade saw cable gain some ground and the AUD choppy but lower a few points. As the Asian morning progressed the USD
Gold prices inched higher on Monday, as the dollar eased and tamer-than-expected U.S. inflation data allayed fears of an early monetary policy tightening by the Federal Reserve. Spot gold was up 0.1% at $1,781.19 per ounce by 0109 GMT. U.S. gold futures rose 0.1% to $1,780.30. The dollar index eased 0.1% against rivals, making gold
Losing -1.8% month-to-date, CNY has erased much of the gain made against USD since the beginning of the year. While the broadly based USD rally after the June FOMC meeting is the major driver, PBOC’s intervention has also prevented the renminbi from having meaningful gains. In April and May, CNY appreciated about +2.8% against USD.
Canadian election coming Trudeau is riding high with Canada’s vaccine rollout amongst the best in the world. The country leads the world in first doses delivered and cases have fallen dramatically in the last month or so. Trudeau is aiming to parlay that result into a majority government. He currently governs with a loose minority
Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)
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Classic risk-positive trade wins out The top performing G10 currencies this week were NZD, AUD and CAD, in that order. At the bottom of the list were JPY, USD and CHF. That’s a classic risk-positive trade setup that has been underlined by the selloff in bonds and the best week for US equities since April.