Société Générale near term bullish on gold, but see it lower next year Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT SG on the short-term gold influences and looking ahead to 2022: We still remain slightly supportive in the near-term as we expect monetary and fiscal policy to
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NEW DELHI: Gold edged up a little on Wednesday in the domestic market, after slipping in the previous session. The yellow metal held steady in global markets as gains in the dollar and a rise in US Treasury yields hurt the bullion’s appeal. Gold futures on MCX were up 0.10 per cent, or Rs 45,
The loonie recovered modestly after the BOC meeting. As widely expected, policymakers left the overnight rate unchanged at 0.25% and QE purchases at CAD 2B/ week. Yet, they remained cautiously optimistic over the medium term economic outlook, despite disappointing GDP data in 2Q21 and July. We expect the central bank to continue to taper the
The bid in the dollar is relentless Yesterday we could point to rising Treasury yields as a catalyst for dollar strength but today yields are down and the dollar is jumping anyway. They buying this week has been relentless. The move goes right across the board but USD/CAD is particularly strong, up 92 pips to
New Delhi: Gold in the national capital on Wednesday tumbled Rs 264 to Rs 46,140 per 10 gram amid muted global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,404 per 10 grams. Silver rose marginally by Rs 22 to Rs 63,486 per kilogram from Rs 63,464
Euro and Swiss Franc weaken mildly in mixed markets today. New Zealand Dollar firms up together with Yen and Dollar. Meanwhile, Canadian Dollar is also soft, awaiting BoC policy decision. Major European indices are trading in red, but losses are limited. US futures also point to slightly lower open. Gold is trying to reclaim 1800
OK, that headline … my bad. Asia FX has been a wee bit sedate. On the data agenda from the US Wednesday 0 September 2021: Job Openings and Labor Turnover Survey (JOLTS) for July issued by the BLS. 10am ET, which is 1400 GMT expected 10.0m, prior 10.073m JOLTS graph: Consumer credit for July 3pm
NEW DELHI: Bucking global trends, gold was little changed on Tuesday in the domestic market. The yellow metal lacked directional cues as the US market was closed on Monday on account of a public holiday. However, a softer dollar and prospects of the US Federal Reserve delaying a tapering in its pandemic-era bond purchases made
Torn between disappointing economic activities but rising inflation, higher vaccination rate but worsening Delta outbreak, and a federal election just 12 days after this week’s meeting, the BOC will likely stand on the sideline this month. Policymakers will keep its weekly asset purchases unchanged at CAD 2B/ week and retain the forecast of first hike
Today is the first day without extra unemployment benefits in the US The market is in the mood to buy US dollars as New York and Toronto return from long weekends. That’s weighing on commodity prices as well and adding a negative mood to markets. The dollar has extended to fresh highs against the euro
Risk sentiment turns a bit weaker today in the stock markets. But benchmark European and US yields are staging a strong rally. In the currency markets, Aussie is sold off is in delayed reaction to RBA’s dovish tapering, but Canadian is follow closely with selloff in oil price. Sterling is also falling in European crosses,
New Delhi: Gold in the national capital on Tuesday fell by Rs 37 to Rs 46,417 per 10 gram amid weak precious metal prices in the international market, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,454 per 10 grams. Silver also tumbled Rs 332 to Rs 63,612
Forex news for Asia trading on Tuesday 7 September 2021 ICYMI – Its a week packed with Federal Reserve speakers CBA on the coup in Guinea and what it means (bauxite, aluminium) George Soros says BlackRock has misunderstood Xi’s moves in China, has made “a tragic mistake” ICYMI – El Salvador bought 200 Bitcoin, takes
TOKYO: Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for Asia. Brent crude futures for November rose 4 cents, or 0.1%, to $72.26 a barrel by 0056 GMT, after falling 39 cents on Monday. US West Texas Intermediate crude for October was
The pace of asset purchases in the Pandemic Emergency Purchase Program (PEPP) in 4Q21 is the focus of this week’s ECB meeting. Following hawkish comments from some council members, especially chief economist Philiip Lane, hopes that an announcement related to reduction in purchases would be made at the upcoming meeting have increased. The policy rates
The baffling source of an oil spill in the Gulf of Mexico underscores an industry begging for regulation There’s a pipeline in the Gulf of Mexico leaking oil and no one seems to know who it belongs to. It’s a baffling example of incompetence from regulators and industry. The saga starts on the weekend when
New Delhi: Gold in the national capital on Monday declined Rs 71 to Rs 46,503 per 10 gram in line with weak global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,574 per 10 grams. In contrast, silver gained Rs 263 to Rs 64,168 per
Trading in the currency market is rather subdued today and markets will stay quiet with US and Canada on holiday. Dollar is paring some of last week’s large losses but upside momentum is weak. On the other hand, Australia Dollar is turning slightly weaker as tomorrow’s RBA policy decision is awaited. The reaction in Aussie