The USDCAD ticks to a new low less than 24 hours until the BOC rate decision at 10 AM ET tomorrow. The central bank is expected to keep rates unchanged with a 10% chance of a 25 basis point hike. For most of the North American session, the price has been able to stay below
We’re heading towards another guessing game now as all the bets today are going to involve the US CPI data release. If the numbers do come in around estimates, I would argue it should support a 25 bps rate hike at the margin. But as markets digest the numbers, there might be more pushing and
Gold prices edged higher on Wednesday as the dollar pulled back, with investors focussing on key U.S. inflation data due later in the day for signs on how close interest rates are to peaking. FUNDAMENTALS * Spot gold was up 0.1% at $2,005.18 per ounce, as of 0051 GMT. U.S. gold futures rose 0.1% to
Market volatility could see a significant uptick today with three heavyweight events on the schedule. US consumer inflation data for March has the potential to shift market expectations regarding the Fed’s rate path. While headline CPI is expected to drop for the ninth consecutive month to 5.2%, core inflation is forecast to break its five-month
Share: USD/INR has continued its auction above 82.00 ahead of US Inflation data. FIIs are turning buyers in the Indian market after months of correction. Oil prices are expected to extend their upside above $81.50 on expectations that the Fed will reach its terminal rate sooner. The USD/INR pair has delivered a flat opening above
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US yields are moving higher and it is leading to a back to the upside in the US dollar: 2 year yield is at 4.064% up 5.6 basis points. 5year yield is at 3.566% up 4.7 basis points 10 year yield is at 3.448% up 3.4 basis points 30 year yield is at 3.635% up
Not anticipating a downturn in the economy although it is a possibility Friendshoring is approach to deal with supply chain risks but retains tremendous scope for global trade to continue Argument that friendshoring will cause fragmentation is not valid Russia’s war in Ukraine showed importance of diversifying supply chains deeply concerned over Russia’s detention of
Gold price jumped by Rs 280 to Rs 60,680 per 10 gram in the national capital on Tuesday amid gains in the precious metal’s prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,400 per 10 gram. Silver also climbed by Rs 470 to Rs 74,950 per
European majors are taking center stage today as markets reopen after holidays. Although not spectacular, Eurozone data revealed improvements in investor confidence, which has bolstered overall market sentiment. Major European indexes and benchmark treasury yields are trading slightly higher. In contrast, commodity currencies and Dollar are trading on the softer side, while Yen is mixed
Share: US Dollar weakens against its major rivals following the Easter holiday. EUR/USD holds above key support despite the latest pullback. March CPI data from US could significantly impact US Dollar’s valuation. The US Dollar (USD) stays on the back foot on Tuesday and weakens against its major rivals as investors gear up for the
A society of 25 artificial intelligence (AI) bots were observed waking up, cooking breakfast, heading to work, going to the bar for lunch with friends and even throwing a party by six researchers who created a town for the bots. The researchers from Google and Stanford University explained in an April 7 paper titled “Generative
The NZDUSD is lower on the day. The low price today moved below a swing area on the hourly chart above between 0.62019 and 0.62108. It also fell below the low price from Friday’s trade 0.6208. The low price extended to 0.619256 in the early US session, but has rebounded over last six or so
On Friday, the US jobs report took center stage and it was a fairly decent one – all things considered. Non-farm payrolls more or less came in within estimates while the unemployment rate dropped slightly by 0.1%. While the former (+236K) may have slowed down below its 12-month average (+345K), the latter is lower from
Gold prices rose on Tuesday after falling more than 1% in the previous session, as the dollar eased while investors awaited this week’s U.S. inflation data that could influence the Federal Reserve’s monetary policy trajectory. FUNDAMENTALS * Spot gold was up 0.2% at $1,994.48 per ounce, as of 0036 GMT. U.S. gold futures rose 0.1%
Share: Natural Gas price grinds higher after rising the most in a month the previous day. Clear break of 100-SMA, one-week-old descending trend line joins bullish MACD signals to lure XNG/USD buyers. 1.5-month-long horizontal hurdle comprising 200-SMA appears a tough nut to crack for Natural Gas buyers. Natural Gas (XNG/USD) remains mildly bid around the