Oil isn’t joining in the positive mood A weak dollar and positive mood in markets is normally a good sign for commodities but that’s not exactly the case today. Oil is down $1.02 to $62.34 and flirting with yesterday’s lows. It’s joined by nickel (-3.6%), aluminum (-2.5%) and copper (-0.4%) as commodity losers. On the
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Gold hovered close to a more-than-four-month peak it scaled in the previous session, fuelled by a dip in the and U.S. yields as investors shrugged off the Federal Reserve‘s hints on possible tapering of economic support measures. Spot gold rose 0.4% to $1,876.80 per ounce by 10:36 a.m. EDT (1436 GMT). U.S. gold futures fell
The forex markets are very quiet today, with most major pairs and crosses staying inside yesterday’s range. Dollar is paring some post FOMC minutes gains, while Sterling is also soft. On the other hand, Australian and New Zealand Dollar are both recovering mildly. As for the week, Euro is currently the strongest one,m followed by
Easy to miss, but important The latest set of RBA minutes were pretty uneventful on the face of them: The Board was willing to extend bind purchass if necessary Will decide in July on whether to roll over to November 2024 bond and whether to extend purchases Return to full employment a high priority for
NEW DELHI: Gold and silver futures edged lower on Thursday on a strong dollar after the US Fed minutes of April policy suggested that some officials were open to discussing scaling back the central bank’s massive bond purchases at some point. Higher interest rates increase the opportunity cost of holding bullion. Gold futures for June
Dollar recovered overnight, with help from mild risk aversion and some slight hawkish twists in FOMC minutes. Yet, it couldn’t manage to break through any near term technical level yet. Euro remains the strongest one for the week at this point, followed by Yen. Commodity currencies are the generally weaker ones while Aussie is getting
Bitcoin back to $40,000 The risk rout is over. Bitcoin has made an incredible comeback to $40,000 from as low as $30,000 and all risk assets have followed a similar (albeit much less-pronouced) comeback story. The S&P 500 is down 24 points to 4103 after holding support as last week’s low. The index is now
Domestic precious metal prices dropped on Wednesday tracking volatility in global markets ahead of the release of minutes of the US central bank’s last policy meeting. Profit booking was witnessed across commodities ahead of the key event, which may offer more clarity on interest rates in major economies, say analysts. The white metal suffered its
Global equities are under selling pressure today with another round of rise in treasury yields. In particular, Germany 10-year yield jumped above -0.1% handle and hit the highest level since mid-2019. The development came after stronger than expected inflation reading from UK, which was later followed by Canada CPI. New Zealand Dollar and Australian Dollar
Gold silver ratio The gold silver ratio is down near its 2016 lows. What is it? The gold to silver ratio represents the relative value of one ounce of silver to one ounce of gold. It is a weight for weight comparison. In basic terms the ratio shows you how many ounces of silver you
NEW DELHI: Gold prices inched up on Wednesday, hovering near a four-month high on a weaker dollar, while investors awaited minutes from the US Federal Reserve’s last policy meeting as inflation worries persist. However, Indian markets bucked the global trends on the back of mixed cues. The US central bank has pledged to keep interest
Dollar’s decline slowed in Asian session today, but remains generally weak, in particular against European majors. Though, indecisive risk sentiment is somehow limiting upside in commodity currencies, with Canadian Dollar following oil prices lower today. There is prospect of more volatility in the markets today, with consumer inflation data from UK and Canada featured. FOMC
US vaccination rate in the US is at 37% with at least 1 dose at 48% Canada PM Trudeau on vaccinations is saying that 75% is key for reducing restrictions. Well I guess the US is jumping the gun at 37% fully vaccinated and 48% with at least one dose. In my state, the visit to Costco yesterday had about
LONDON: Most industrial metals prices rose on Tuesday as investors betting on a long period of low interest rates bought riskier assets, pushing global stock markets higher and dragging the dollar to its weakest since February. The weaker greenback helps dollar-priced metals by making them cheaper for buyers with other currencies. Benchmark copper on the
Dollar’s selloff intensifies today as risk-on sentiment is slowly coming back to the markets. Yen is following as the next weakest. European majors are currently the main winners. Commodity currencies are somewhat lagging behind. In other markets, European indexes are trading slightly higher while US futures also point to higher open. Gold and oil prices
Latest data released by ONS – 18 May 2021 Prior -10.1k Claimant count rate 7.2% Prior 7.3% March ILO unemployment rate 4.8% vs 4.9% expected Prior 4.9% March employment change 84k vs 50k 3m/3m expected Prior -73k March average weekly earnings +4.0% vs +4.5% 3m/y expected Prior +4.5% March average weekly earnings (ex bonus) +4.6%
NEW DELHI: Gold prices on Tuesday rose to their highest in more than three months as a weaker U.S. dollar and growing inflationary pressure lifted bullion’s appeal as an inflation hedge. Precious metals continued the northward movement in the Indian market. Investors now await minutes of the U.S. Fed’s last meeting, due on Wednesday, for
The RBA minutes for the May minutes reaffirmed our view that further expansion in the asset purchase program would be announced later this year. The most likely timing for the announcement would be July. Domestically, the members noted that the economic was in the transition from recovery to expansion. The momentum was stronger than previously