Yen drops broadly today as markets turn back into risk-on mode. It has indeed become the worst performing one for the week. Dollar is also staying to look a bit vulnerable against European majors and commodity currencies. Canadian Dollar is firm and shrug off retail sales data, which shows contraction. Question is now on whether
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Surprisingly quick turn in cases The UK reported another 36,389 covid cases today. That’s down from 39,315 yesterday and the 54,205 on July 17. The quick drop after the sharp run-up has puzzled scientists who are speculating about a lack of testing, reluctance to report covid due to unwillingness to self-isolate and good weather. Whatever
New Delhi: Gold in the national capital on Friday rose Rs 256 to Rs 46,698 per 10 gram amid supportive global trends, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 46,442 per 10 grams. Silver also jumped Rs 662 to Rs 66,111 per kg, from Rs 65,449 per
Renminbi has been range-bounded against the US dollar since June. Traders in the Chinese currency has turned cautious after People’s Bank of China (PBOC) surprisingly reduced the reserve requirement ratio earlier this month. The move was contrary to the broad theme of monetary policy normalization in major central banks (e.g. FOMC, BOE, BOC, etc). The
Latest data released by Markit/BME – 23 July 2021 Prior 65.1 Services PMI 62.2 vs 59.1 expected Prior 57.5 Composite PMI 62.5 vs 60.8 expected Prior 60.1 After slight misses in the French readings earlier, German business activity improved further in July with both manufacturing and services sector seen picking up on the month. The
NEW DELHI: Gold edged lower on Friday as investors fancied riskier assets and a stronger dollar made the bullion more expensive. However, the decline in precious metals was limited on the . Gold futures on MCX were down 0.15 per cent or Rs 71 at Rs 47,563 per 10 grams. Silver futures were flat, just
Trading in Asian session is relatively subdued today, as some participants are already looking forward to the weekend, after a roller coaster ride. Canadian Dollar is currently the strongest one for the week, helped by rebound in WTI oil price, which is back above 71. However, New Zealand and Australian Dollars are the worst performing
Three days to wipe out Monday’s drop One thing to always keep in mind about oil is that the physical market is 25x larger than the financial market. The real money flows are enormous. At times, the market will give you some insight into the underlying dynamics. This week’s rally really kicked off with US
New Delhi: Gold in the national capital on Thursday dipped Rs 264 to Rs 46,452 per 10 gram with decline in global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade on Tuesday the precious metal had closed at Rs 46,716 per 10 gram. In contrast, silver gained marginally by
The ECB has updated the forward guidance on the policy rate, reflecting the new inflation target concluded in the strategic review. All monetary policy measures stay unchanged as it strives to achieve the symmetric 2% inflation target: The deposit rate stays at -0.5%, the total Pandemic Emergency Purchase Program (PEPP) envelope remains at 1.85 trillion
Gold The gold markets have been challenging to trade recently due to a stronger dollar. You may have been puzzled why real yields were dropping lower, but gold seemed so slow to fly higher. Why? It was the strong USD that was clipping gold’s wings. Look at the chart below and see how gold moved
NEW DELHI: Gold prices slipped on Thursday as the risk appetite of the investors improved. They looked to bet on riskier assets after a sharp fall earlier this week. However, the fall in precious metals was capped on . The dollar remained stronger and investors looked past economic threats from rising cases of the Delta
Dollar and Yen lost their position as the strongest ones as US stocks staged another day of massive rebound overnight, together with treasury yields. On the other hand, Canadian Dollar is currently the best performer for the week, helped by WTI crude oil’s reclaim of 70 handle. But Aussie and Kiwi remain the weakest at
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
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