Forex news for Asia trading on Tuesday 29 June 2021 It was a subdued range session for major FX rates and even Bitcoin with a light news and data flow only. Nevertheless there were a few items of interest. Late in the US day a slew of banks announced increased dividends and also some on
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Gold prices eased on Tuesday, as a firmer dollar made bullion expensive for holders of other currencies while concerns that the U.S. Federal Reserve will tighten its monetary policy sooner than expected also dented the metal’s appeal. Gold is seen as a hedge against inflation, though a rate hike by the Fed will increase the
Japanese yen is the worst performing major currency against US dollar in 1H21. A more hawkish Fed and actual inflation (divergent monetary policy), widening yield differential and inflation expectations are the key drivers to yen’s depreciation. In the second half of the year, persistence of these drivers could further strengthen USDJPY, though to a lesser
Dallas-area manufacturing data Prior was 34.9 Production 29.4 vs 15.7 prior New orders 26.7 vs 20.8 prior Wages and benefits index hits record 48.1 vs 39.0 prior (prior had also been a record) The main index has been bouncing around in the past few months but inflationary indications continue to rise. The raw materials and
NEW DELHI: Gold in the national capital on Monday gained Rs 116 to Rs 46,337 per 10 gram reflecting strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,221 per 10 gram. Silver also jumped Rs 161 to Rs 67,015 per kilogram from Rs 66,854 per
Dollar is pick up some upside momentum as markets enter into US session. Overall trading is rather subdued though. Economic calendar is near empty today while central bankers’ comments are largely ignored. Sterling is currently a firmer one together with the greenback. Swiss Franc is the worst performing one, together with commodity currencies. Technically, as
Forex news for Asia trading on Monday 28 June 2021 Mixed results across major FX rates today but characterised in summary by a slightly stronger US dollar on slightly firmer US yields. Early trade saw cable gain some ground and the AUD choppy but lower a few points. As the Asian morning progressed the USD
Gold prices inched higher on Monday, as the dollar eased and tamer-than-expected U.S. inflation data allayed fears of an early monetary policy tightening by the Federal Reserve. Spot gold was up 0.1% at $1,781.19 per ounce by 0109 GMT. U.S. gold futures rose 0.1% to $1,780.30. The dollar index eased 0.1% against rivals, making gold
Losing -1.8% month-to-date, CNY has erased much of the gain made against USD since the beginning of the year. While the broadly based USD rally after the June FOMC meeting is the major driver, PBOC’s intervention has also prevented the renminbi from having meaningful gains. In April and May, CNY appreciated about +2.8% against USD.
Canadian election coming Trudeau is riding high with Canada’s vaccine rollout amongst the best in the world. The country leads the world in first doses delivered and cases have fallen dramatically in the last month or so. Trudeau is aiming to parlay that result into a majority government. He currently governs with a loose minority
Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)
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Classic risk-positive trade wins out The top performing G10 currencies this week were NZD, AUD and CAD, in that order. At the bottom of the list were JPY, USD and CHF. That’s a classic risk-positive trade setup that has been underlined by the selloff in bonds and the best week for US equities since April.
NEW DELHI: Gold prices held steady on Friday as investors awaited US inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. After choppy trading, the yellow metal posted modest gains in domestic markets. Fewer Americans filed new claims for unemployment benefits last week, according
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Been great to be with you all this week as Justin takes some well deserved time away. I haven’t quite done yet as I wanted to drop in with the latest central bank update. Taking a step back the feel I am getting is that CB’s are thinking about thinking about tightening. The ones that
LONDON: Copper prices held steady on Friday after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal valued at $1.2 trillion over eight years, which helped reinforce expectations of stronger demand. However, worries about the U.S. Federal Reserve tightening monetary policy sooner than expected subdued some of the optimism and weighed on copper prices
Yen and Dollar ended the week as the worst performing ones, as US stock markets came back with strong rally. Risk-on sentiments pushed commodity currencies broadly higher. Yet, Yen crosses are also held below recent highs despite the rebounds. Dollar’s pull back was also relatively weak. Some more time is needed to determine if they’re