The ECB meeting contains little surprise. On economic developments, despite the notion that recent rise in inflation has been driven by temporary factors, the staff upgraded headline inflation projections sharply for this year and 2022. All monetary policy measures stay unchanged. Obviously, policymakers avoided to mention about “taper”, amidst concerns over tightening financial conditions. Acknowledging
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What to expect going into the US CPI data The market is drifting sideways ahead of key risk events today, with the ECB policy meeting decision to come first before the US CPI data release. The estimate for US CPI in May is for the annual reading to tick higher from +4.2% y/y in April
KOLKATA: India‘s largest private-sector agriculture post-harvest management company, erstwhile National Collateral Management Services Limited (NCML), has announced today that the company will begin operating under a new name – National Commodities Management Services Limited, effective immediately. The new name reflects the company’s emphasis on providing commodity services along the comprehensive agriculture lifecycle from farm to
Euro softens broadly today as markets await ECB policy decision. Traders appear to be position for a dovish, or at least cautious, ECB press conference. Nevertheless, Sterling and Dollar are also soft, indicating that the markets are not one sided yet. Meanwhile, commodity currencies are trading mildly firmer today, together with Yen. That also suggest
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
NEW DELHI: Crude oil prices rose Rs 50 to Rs 5,139 per barrel on Wednesday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 50, or 0.98 per cent, at Rs 5,139 per barrel in 12,248 lots. Analysts said
Major pairs and crosses are bounded inside yesterday’s range so far, as quiet trading continues. Dollar is mildly lower but loss is very limited, while Swiss Franc might be picking up some buying again. Stock markets are also treading water in very tight range. Nevertheless, notable weakness is seen in treasury yields. In particular, US
The market is quiet but keep an eye out on Treasury yields 10-year yields are down 2.2 bps currently to 1.51% but the low today hit 1.50% earlier and that is a key level to watch from a technical perspective. There hasn’t been much appetite for yields to move out of range per se since
NEW DELHI: Gold prices surged up on Wednesday, on the back of falling US bond yields. Investors are holding back from making large bets ahead of US inflation data and the European Central Bank policy meeting this week. The precious metal traded firm in domestic markets. Labour Department data showed US job openings surged by
Global financial markets are generally treading water this week so far. Trading in the forex markets is also subdued. Canadian Dollar is currently leading other commodity currencies lower, awaiting BoC policy decision today. On the other hand, Swiss Franc is the strongest one, lifting Euro higher too. In other markets, Gold is still struggling to
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
Domestic gold futures gave up initial gains on Tuesday but managed to hold the Rs 49,000 per 10 grams mark, as a stronger dollar overseas made the yellow metal less attractive for those holding other currencies. Investors awaited US inflation data for more clarity on interest rates in the world’s largest economy going forward. MCX
Swiss Franc jumps broadly in otherwise quiet markets today. Canadian Dollar is second strongest, then Dollar, but both are staying inside yesterday’s ranges. Sterling is currently the worst performing one, followed by New Zealand Dollar and then Yen. But the selling in the two are far from being clear. In other markets, Gold has a
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: The London Metal Exchange said on Tuesday it will reopen its open outcry trading floor on Sept. 6, but added that it also believes electronic trading is the way forward. The floor was closed in March 2020 for the first time since World War II to allow for the social distancing needed to deal
Trading continue to be relatively subdued this week so far. While Dollar weakened overnight, losses were very limited. The greenback is indeed recovering mildly in Asian session. Australian Dollar also received little lift from strong business conditions data. Gold breached 1900 handle, but lacks the conviction to extend near term rebound. WTI crude oil also
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
NEW DELHI: Gold declined by Rs 152 to Rs 48,107 per 10 gram in the national capital on Monday in line with weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,259 per 10 gram. Silver also tumbled Rs 540 to Rs 69,925 per kilogram from