New Zealand Dollar ended as the strongest one last week, boosted by hawkish expectation on RBNZ. Though, the Kiwi’s strength didn’t provide much support to other commodity currencies, as Aussie and Loonie were indeed the worst performing ones. Yen and Dollar followed Kiwi as the next strongest, while European majors were mixed, with Sterling at
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Forex news for New York trade on July 16, 2021: Markets: Gold down $18 to $1810 US 10-year yields down 0.2 bps to 1.295% WTI crude oil down 18-cents to $71.41 S&P 500 down 33 points to 4327 GBP and AUD lag, NZD leads Retail sales were much stronger than expected and the strength was
Global cues pushed petrol prices up again across the country by 30 paise per litre to Rs 101.84 a litre in Delhi, adding further pressure to the stretched budgets of consumers grappling with rising food prices amidst shrinking income. However, unlike uniform price movement earlier, this time around while the pump price of petrol saw
New Zealand Dollar surges broadly again today as decade high CPI reading prompted more speculations on RBNZ rate hikes. That somewhat helps stabilizes the selloff in Aussie and Loonie. On the other hand, Yen appears to be softening slightly as rally lost steam. Dollar, Euro and Sterling are mixed. As for the week, Kiwi is
Prices have crashed but that won’t be reflected at the retail level The lumber crash in the past eight weeks is something to behold. There appears to be an absolute capitulation phase ongoing now with prices of western spruce/pine/fir down to $485/mfbm from $650 midweek — that’s 30% and it extends the drop in benchmarks
Gold in India was sold at a discount this week for the first time in nearly a month as a jump in local prices curbed purchases, while buyers in other major Asian hubs were also put off by higher prices. In India, dealers were offering a discount of up to $5 an ounce over official
Dollar trades mildly higher in early US session after better than expected retail sales data, but upside moment is weak so far. Mild strength in US futures sends Swiss Franc and Yen slightly lower. Overall, New Zealand Dollar is set to end as the best performer for the week, as RBNZ hike speculations intensified. Dollar
The ying and the yang of it Positives A digital lockdown induced by COVID-19 has led to a wider acceptance of all things digital. The globe has been exposed to digital meetings, digital work, so the idea of a digital currency is conceptually easier to understand. A greater acceptance of digital currencies by central banks.
NEW DELHI: Gold was trading flat while silver posted mild gains on Friday on MCX. The yellow metal bucked global trends even as US Fed chair Jerome Powell repeated his pledge of strong support to complete US economic recovery. Gold futures on MCX were down 0.04 per cent, or Rs 19, at Rs 48,381 per
Dollar turns notably weaker against Swiss Franc and Yen today but markets are relatively steady elsewhere. Sterling pays little attention to employment data which showed some positive signs. Canadian Dollar also shrugged off yesterday’s BoC tapering. General focus will now turn to US job data, and the movements in stock markets for next moves in
Negative sentiment weighs on AUD/USD A bit of a divergence is creeping into markets. AUD/USD is at a fresh session low at 0.7435m, down 45 pips on the session. But Treasury yields have bounced with 10s at 1.330% from a low of 1.310%. Technically, this is an important short-term support zone with the lows of
New Delhi: Gold in the national capital on Thursday jumped Rs 177 to Rs 47,443 per 10 gram in tandem with gain in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,266 per 10 grams. Silver also gained Rs 83 to Rs 68,277 per
Dollar regained some ground in European session, as assisted by mild pull back in stocks. The greenbacks stay firmer into US session as jobless claims data showed continuing improvement. Sterling is also stronger today after BoE policymaker Michael Saunders’ hawkish comments. On the other hand, commodity currencies are trading lower, as led by pull back
An optimistic twist The official cash rate remained the same at 0.25%, but the headline surprise was that the RBNZ agreed to halt additional asset purchases under the LSAP agreement by July 23. This means that the RBNZ can be considered as setting up for a sooner rate hike than previously projected. The ANZ investment
NEW DELHI: Gold and silver prices traded flat on Thursday, following global trends. Markets awaited for more cues after Federal Reserve Chairman Jerome Powell’s ‘powerful support’ and China’s economic data. Physical gold prices in spot market has gained 3 per cent in the first two weeks of July. However, the gains have been marginal, less
New Zealand Dollar rises broadly after RBNZ halts its asset purchase program. The movement also takes Aussie slightly higher. On the other hand, Dollar is not quite able to extend the post-CPI rally, and softens slightly. European majors are currently mixed. Focus will now turn to BoC policy decision and the reaction in Canadian Dollar
Citi on the outlook for AUD/NZD Citi likes short AUD/NZD targeting a move towards 1.02. “The RBNZ announced at the board meeting to halt additional asset purchases under the Large Scale Asset Purchase (LSAP) program by 23 July 2021. CitiFX says that as the Bank would know the growing market expectation that it will increase
MUMBAI: From June, sellers of gold jewellery are mandated to have a hallmark of the Bureau of Indian Standards in the ornaments made by them to certify purity of the gold. This norm was brought about in January 2020, but the Covid pandemic delayed its implementation. According to brokerage , out of the 4 lakh