Forex news for Asia trading on Monday 5 July 2021 Yet again we await developments from OPEC+ as last week’s Thursday meeting stretches into Monday. If you have missed developments an agreement to increase production (by 400K barrels a month from August to December inclusive) is being blocked by objections from the UAE (the country
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Gold prices edged lower on Monday after hitting a two-week high in the previous session, weighed down by a slight uptick in the dollar, while investors awaited more US economic data for clues on the Federal Reserve‘s monetary policy plans. FUNDAMENTALSSpot gold was down 0.1% to $1,785.41 per ounce by 0037 GMT, after hitting its
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday. The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the
Sales volume of real-time power market (RTM), which allows consumers to buy power just one hour before delivery, jumped over three-fold to 1,726 million units in June compared to the year-ago month at (IEX). The RTM was launched last year on June 1, and had witnessed sales of 515 MU in the first month of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
LONDON/DUBAI/MOSCOW: OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact. The standoff could delay plans to pump more oil through to the end of the year to cool oil prices
Dollar’s rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
The Bureau of Indian Standards (BIS) website and FAQs do not capture many key points on hallmarking, discussed between the gems and jewellery industry and the government, causing confusion and disruption amongst jewellers, All India Gem and Jewellery Domestic Council (GJC) said on Saturday. In this regard, the industry body has written to Union Minister
Dollar ended as the strongest one last week but Friday’s steel fall after solid non-farm payroll job reports suggests that it’s rally is already losing steam. It’s still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar’s upside attempts ahead, and even trigger a deeper pull
Forex news for North American trading on July 2, 2020 In other markets as the week comes to a close shows: Spot gold is trading up $10.69 or +0.6% at $1787.29. Spot silver is up $0.44 or 1.69% $26.45 WTI crude oil futures are trading down nine cents or -0.11% at $75.15 Bitcoin is trading down $293
Gold rose on Friday, climbing further up from a two-month trough hit during the week, as the dollar weakened and investors weighed prospects for U.S. Federal Reserve tightening after a strong U.S. jobs report that nevertheless showed a slight uptick in the unemployment rate. Spot gold rose 0.3% to $1,781.77 per ounce by 12:48 pm
Dollar’s rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it’s certain that Fed won’t move unless upbeat outlook is realized in economic data. Successive solid job growth for a few months is needed to give
200 hour MA swing area and 50% of the move up from June 23 The USDCAD is trading to a new session low and in the process is testing a cluster of support defined by the 200 hour moving average, the 50% retracement of the move up from the June 23 low, and a swing area between
NEW DELHI: Gold in the national capital on Friday gained Rs 251 to Rs 46,615 per 10 gram in line with firm global trends and rupee depreciation, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 46,364 per 10 gram. Silver, however, fell Rs 256 to Rs 68,458 per
Dollar struggles to ride on stronger than expected non-farm payroll growth, and it’s indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as the strongest one for the week,