Dollar softens mildly in quiet Asian session today. The greenback’s rebound stalled ahead of near term resistance levels, as general market sentiment stabilized in US session overnight. Investors and analysts are now turning their attention ISM Manufacturing PMI and FOMC minutes, seeking guidance on the future on the next move of the greenback. In the
Share: Canadian Dollar falls back as broader markets reverse into Greenback bids. Canada economic data continues to slump, Manufacturing PMI flubs expectations. Crude Oil continues to slip, dragging down the Loonie. The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to
The USDs move higher today, has also included a downward run in the NZDUSD. As we head into the Asian-Pacific session, the pair is trading near session lows. It has also broken below the 38.2% retracement of the move up from the December low to the December high. That level comes in at 0.62595. Getting
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 your initial investment; do not
Global economic uncertainties and geopolitical tensions are likely to take gold prices to a new high of Rs 70,000 per 10 grams this year, making it a safe haven investment and a perfect hedge against inflation, industry body All India Gem and Jewellery Domestic Council (GJC) said on Tuesday. “The yellow metal’s appeal as a
As US session commences, Dollar’s rebound is gaining additional momentum. This upswing is occurring against a backdrop of intensifying selloff in the equities market, primarily influenced by Apple’s downturn following downgrade by Barclays over concerns of weakening sales. European majors are currently bearing the brunt of the market’s shift. The final PMI manufacturing release from
Share: Gold price moves higher as Fed’s rate-cut bets persist. This week, the US NFP and ISM PMI reports will guide further action in the FX domain. The US Dollar advances further ahead of crucial economic data. Gold price (XAU/USD) kicks-off the 2024 year on a promising note, demonstrating a firm-footing on Tuesday amid prospects
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 your initial investment; do not
Silent night, holy nightAll is calm, all is bright‘Round yon virgin Mother and ChildHoly infant so tender and mildSleep in heavenly peaceSleep in heavenly peace To sleep with peace in the world of equity investments is difficult to imagine. But what if there is a demonstrated predictable process with a proven outcome and track record?
Dollar gains modest ground in Asian session today, driven by mild risk-off sentiment. Mixed data emerging from China’s PMI manufacturing sector has cast a shadow over market sentiment, contributing to a tepid start in Hong Kong’s stock market. The HSI index is grappling with the aftermath of its fourth consecutive year of losses, as a
The strongest to the weakest of the major currencies (2023) As 2023, comes to an end, the CHF is ending the day as the strongest of the major currencies while the JPY is the weakest. The CHF benefitted from flight to safety flows on the US banking crisis and global tensions, and then took a
Today brings the privately-surveyed manufacturing PMI from China for December, Caixin/S&P Global. Over the weekend we had the official PMIs for December, manufacturing was a disappointment: The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be
Gold prices climbed to a three-week high on Thursday as the U.S. dollar and bond yields touched multi-month lows on mounting bets that the U.S. central bank will start to cut interest rates as early as March next year. FUNDAMENTALS * Spot gold was up 0.5% at $2,086.66 per ounce, as of 0211 GMT, hitting
At this time last year, everyone was fretting about a 2023 recession. That’s the kind of setup that led to a 55% rally in the Nasdaq (with some help from AI) and a 24% rally in the S&P 500. How does the market feel going into 2024? Recession calls have disappeared, stocks are up nine
Gold witnessed a lackluster opening in Monday’s trade amid a lack of triggers as major global commodity markets remained shut for trading on account of the New Year holiday. MCX February gold futures were trading at Rs 63,225 per 10 grams, minutes after opening, up Rs 22 or 0.03% from Friday’s closing price. Meanwhile, the
1) House prices Eight weeks ago, we might be having a very different conversation about Canadian housing. Yields were rising and central banks were offering no hints about cutting rates. Pain was certainly in the pipeline and a hard housing landing in the spring was likely. Skip ahead and the Government of Canada five year
Continuing to glitter in 2024 as well, gold price is likely to touch Rs 70,000 per 10 grams in the domestic market on the back of a stable rupee, geopolitical uncertainties and slowing global economic growth, according to experts. Currently, the yellow metal price is hovering at Rs 63,060 per 10 grams on the commodity
Share: The DXY jumped towards 101.30 after bottoming near 101.20. The only highlight during the session was December’s Chicago PMI, which came in lower than expected. US Treasury yields gained some ground but remain near multi-month lows. The DXY will post a modest 2% yearly loss, opening the 2023 above 103.00 and closing just above 101.00.