UOB Group’s FX Strategists reiterated the mixed outlook for USD/CNH in the near term. Key Quotes 24-hour view: “USD traded between 6.4599 and 6.4729 yesterday, narrower than our expected range of 6.4525/6.4750. The movement is viewed as part of an on-going consolidation phase. In other words, USD could continue to trade sideways, expected to be
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New Delhi: Gold in the national capital on Monday dipped Rs 124 to Rs 46,917 per 10 gram amid a decline in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,041 per 10 grams. Silver went marginally lower by Rs 18
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Sterling is notably lower today in otherwise mixed markets. Euro is also firm, with help from recovery against the Pound. Aussie is the stronger one, mainly because it’s paring last week’s losses. Upside is so far limited ahead of tomorrow’s RBA monetary policy decision. On the other hand, Swiss Franc softens mildly, paring some of
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What you need to know on Tuesday, August 3:  Market players were optimistic at the beginning of the day, with the dollar easing against its major rivals. The sentiment took a turn for the worse during American trading hours, amid signs of slowing economic progress in the US. The official ISM index contracted from 60.6
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Latest data released by Markit/CIPS – 2 August 2021 The preliminary report can be found here. No change to the initial estimate as staff shortages and a sharp rise in cost/price pressures (driven by supply chain disruptions) weigh on the growth momentum in the manufacturing sector last month. The former is driven by self-isolation restrictions,
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The market opened the month with mildly positive sentiment, with major Asian indexes trading higher. But there is little reaction in the currency markets. Commodity currencies are generally soft for now, with slight losses in particular in Kiwi and Loonie. On the other hand, Dollar, Yen and Euro are trading mildly higher. Overall, however, there
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In opinion of FX Strategists at UOB Group, the outlook for USD/CNH remains mixed for the time being. Key Quotes 24-hour view: “Last Friday, we expected USD to ‘trade between 6.4500 and 6.4750’. USD subsequently traded within a narrower range than expected (6.4514/6.4725) before closing little changed at 6.4633 (+0.09%). The movement is deemed as
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Jack Dorsey’s Square has reported a 200% increase in Bitcoin revenue for the second quarter year-on-year (YoY). The company announced the impressive earnings figures in its second-quarter shareholder letter on August 1. In the report, Square revealed its total gross profit grew 91% YoY to $1.14 billion. Bitcoin services drove $2.72 billion in revenue for
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