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
According to analysts at Wells Fargo, the US Dollar could remain strong in the short term supported by Federal Reserve policy expectations. They see the greenback weakening over the medium-term. Key Quotes: “We see a period of U.S. dollar resilience for now given the Fed’s “hawkish” surprise at its June meeting. We still expect a
With each passing day, the list of nations actively exploring the idea of central bank digital currencies (CBDCs) is continuing to grow at a rapid pace. While China’s digital yuan project may be the one that everyone talks about the most, in recent months, countries like The United Kingdom, Sweden and Japan have forged ahead
Silver flat today as it sits Silver and gold aren’t getting the headlines now but I believe there’s more money to be made by watching quiet markets than trading volatile ones. At the moment, silver fits the bill. When you zoom out, there’s a big triple top ahead of $30/oz but there are also a
Forex news for Asia trading on Thursday 8 July 2021 The US dollar strengthened against most other major currencies although ranges were not large. USD/JPY was a bot of an exception, after an early fall is more or less flat on the session as I update. Little change also for USD/CHF while GBP, AUD, NZD,
NEW DELHI: Gold held steady on Thursday as lower US Treasury yields countered a stronger dollar after minutes from the Federal Reserve’s last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year. The yellow metal traded marginally lower in the domestic market. Fed officials last month
The FOMC minutes for the June meeting confirmed more optimism over the economic outlook. Unwinding of stimulative monetary policy would likely begin earlier than previously anticipated. As the members would begin tapering discussions in coming months, we expect an announcement would be made by end of the year. Meanwhile, the first rate hike could come
US T-bond yields steady around multi-day low, two-day downtrend probed. UK registers highest infections since January, Thailand marks record virus-led deaths. FOMC minutes reiterate cautious optimism, Fed’s Bostic cites Delta variant risk for US economy. ECB Special Meeting, US Jobless Claims to decorate calendar but risk catalysts are the key. US bond bears test the
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The dollar trades a little lower alongside the yen Not a whole lot is going on in Europe as movement among major currencies is relatively light, though commodity currencies are holding a slight advance. EUR/USD is trading narrowly within a 20 pips range between 1.1813 and 1.1833 (1.1827 currently) with GBP/USD keeping in a 28
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New Delhi: Gold in the national capital on Wednesday dipped marginally by Rs 29 to Rs 46,903 per 10 gram reflecting an overnight fall in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,932 per 10 grams. Silver also tumbled Rs 762 to Rs
The forex markets are generally range bound as traders await FOMC minutes. The main focus will be on discussions on the timing of tapering, which wasn’t clearly indicated in the statement and economic projections. Dollar’s rise appears to be losing steam as global sentiments stabilized today. DOW futures point to a recovery while S&P 500
The US Energy Information Administration (EIA) announced on Wednesday that it lowered its forecast for 2021 world oil demand growth by 80,000 barrels per day (bpd) to an annual increase of 5.33 million bpd, as reported by Reuters. On a positive note, the EIA also noted that it raised the forecast for 2022 world oil demand
Jamaica’s central bank will reportedly commence the initial roll-out of its central bank digital currency (CBDC) project in August. According to a report by the Jamaica Observer on Wednesday, Bank of Jamaica (BOJ) Governor Richard Byles made this known during a Rotary Club event earlier in July. Detailing plans to begin the pilot phase in
NASDAQ closes at a new record for the third consecutive day The US major indices are ending the session with mixed results: NASDAQ posts a record close for the third consecutive day S&P index snapped a seven day winning streak Dow industrial average led the way to the downside The major indices are closing the