No offense to our Scottish and Welsh readers The cable bid has been relentless today. It was briefly squashed on fixing sales but it quickly came back and has been a one-way move that’s now extended to 100 pips. I earlier said that the weekly high of 1.3898 was out of reach before the close
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Mumbai: The National Commodity and Derivatives Exchange (NCDEX) on Friday said its average daily turnover value (ADTV) has increased more than two-folds in June to Rs 1,945 crore compared to the same month in 2020. In June 2020, NCDEX had posted an ADTV of Rs 860 Crore, NCDEX said in a statement. “Continued trade disruptions
Yen and Dollar surged strongly overnight, but lost some momentum after on stocks recovered from initial steep selloff. Both are still firm with Asian markets in risk aversion mode. Canadian Dollar is currently the worst performing for the week, followed by Aussie. Focus will now turn to FOMC minutes for guidance on the next moves,
Not the usual correlation This week’s theme has been lower yields and a higher dollar but it started unwinding yesterday and that has continued. US 10-year yields are now up 7.2 bps to 1.36% today. That’s 11 bps above yesterday’s lows, which coincided with the 200-day moving average. We’re now testing the post-Fed low, which
NEW YORK: Oil prices rose for a second day on Friday as the market reacted to falling US inventories, and signs of strong Asian demand from both China and India added support. Brent crude oil futures were up $1.43, 1.93%, at $75.55. US West Texas Intermediate futures were up $1.62, or 2.2%, at $74.56. “The
Market bears had multiple chances to probe a bearish reversal last week, riding on talks like Fed’s tapering, spread of Delta variants, and China’s crackdown on its own technology stocks, as well as foreign IPOs. Yet, the optimists just refused to give up and pushed US indexes to new record closes, after all the volatility.
Forex news for North American trade on July 9, 2021: Markets: Gold up $6 to $1808 US 10-year yields up 7.2 bps to 1.32% WTI crude up $1.71 to $74.65 S&P 500 up 49 points to 4369 AUD leads, JPY lags For a holiday-shortened week at a time of year that can be absolutely dead,
Gold rose on Friday, heading for its best week in seven, bolstered by a weaker dollar and concerns that the spread of the Delta variant of the coronavirus could slow a global economic recovery. Spot gold rose 0.5% to $1,810.99 per ounce by 2:44 p.m. (1844 GMT), and was up 1.4% for the week. US
Yen and Swiss Franc turn softer today as overall sentiments stabilized. US stocks once again pared back much of earlier losses overnight and closed just slightly down. Asian markets were just mixed only, with Nikkei also reversing most of earlier losses. Dollar is currently the stronger one for today, followed by commodity currencies. As for
Weekly oil drilling rig data Prior was 376 Here’s a great chart on Drilled but Uncompleted wells (DUCs). US producers have been tapping that inventory this year because of low capex spending. They’re likely running a scam and classifying it as maintenance capex to try to look like they’re more profitable. If the US doesn’t
New Delhi: Gold in the national capital on Friday tumbled Rs 451 to Rs 46,844 per 10 gram reflecting an overnight decline in global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,295 per 10 grams. Silver also tanked Rs 559 to
The markets are now reversing prior moves in the week, with Dollar, Yen and Swiss Franc trading generally lower. Canadian Dollar is supported by strong job data, while Aussie and Kiwi also recover. Major European indexes are trading slightly up as DOW futures is also up over 260 pts. US 10-year yield is back above
UK May GDP data on the agenda today The dollar traded more mixed yesterday – advancing against commodity currencies but fell against the yen and euro – as the focus was on risk sentiment and the retreat in Treasury yields, which turned around a fair bit towards the end. Of note, 10-year Treasury yields have
NEW DELHI: Gold edged higher on Friday and was set for its third straight weekly gain, as concerns over the fast-spreading Delta variant of Covid-19 and a drop in US Treasury yields lifted the safe-haven metal’s demand. The yellow metal posted mild gains in domestic markets. Sentiment in wider equity markets remained fragile as Delta
US stocks surged to new record overnight, shrugging off FOMC minutes. But Asian markets are walking another path, as led by the free fall in Hong Kong stocks. Yen surges broadly on risk aversion, followed by Swiss Franc. Commodity currencies are generally pressured, with Aussie weighed down by dovish RBA comments too. Euro, Sterling and
USD/JPY down 84 pips to 109.81 today Societe Generale Research discusses the ongoing move lower in USD/JPY. “The yen is, after a period of ignoring the fall in US real yields, coming home to them with a bang. The chart shows 10yr TIPS and USD/JPY, which has been very hard to understand since mid-April. Q3
NEW DELHI: Gold in the national capital on Thursday was marginally up by Rs 9 to Rs 46,981 per 10 gram with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,972 per 10 grams. Silver, however, declined Rs 902 to Rs 67,758
Risk aversion generally dominates the global markets today. Following selloff in Asia, major European indexes open lower and are trading down around -2%. DOW future is also losing around -500pts. Swiss Franc and Yen are overwhelmingly the strongest ones for the day, as followed by Euro and Dollar. Commodity currencies are the worst performing, Focus