inflation has been bad news for gold. Now it’s giving the metal a shot in the arm. While bullion is often bought as a way to protect wealth when consumer prices are climbing, this year’s inflation had weighed on the metal as investors bet that it would spur the Federal Reserve to scale back huge
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Dollar stays generally firm in Asian session, following the post CPI rally overnight. Yen is some what helped by the selloff in stock markets despite rebound in US yields, and remains firm except versus the greenback. On the other hand, Australian Dollar tumbles sharply following much worse than expected job data, and leads other commodity
Daily thread to exchange ideas and to share your thoughts The hotter-than-expected US CPI data yesterday is certainly giving the market some food for thought as the inflation debate continues to play out. Rate punters are expecting the Fed to now act in July instead of September before the report, with bond yields and breakevens surging strongly
NEW DELHI: Gold prices moved higher on Thursday, crossing the Rs 49,000 mark back home amid rising inflation woes, even as the bullion consolidated in the international markets. Gold futures on MCX were trading higher by 0.33 per cent or Rs 163 at Rs 49,017 per 10 grams. Silver futures were up 0.24 per cent
Dollar rises sharply in early US session after much stronger than expected consumer inflation data, which hit multi-decade high. For now, New Zealand Dollar is the worst performer today, followed by Sterling and then Euro. Yen is retreating against the greenback but stays steady against others. Technically, despite notable rally, Dollar is generally still stuck
U.S. Treasury sells $25 billion of 30 year bonds The U.S. Treasury sold 25,000,000,030 year bonds at a high yield of 1.94%. That was a whopping 5.2 basis points above the WI level of 1.888% just before the auction: High yield 1.94% WI yield 1.888% Bid to cover 2.2X vs 2.29X six month average Tail 5.2 basis
Kolkata/Mumbai: The likelihood of potential money laundering probes and logistical gaps in assessing the stock of physical gold may have clouded the prospects of digital gold transactions with the Securities Exchange Board of India (Sebi) ordering about 30 debenture trusteeships to disassociate from the asset class, people familiar with the matter told ET. India Bullion
Falling global yields and mild risk off sentiment continue to boost Japanese Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. But the forex markets are mixed elsewhere for now. Dollar and European majors are stuck in near term ranges against each other. Eyes will turn to US consumer inflation data
Daily thread to exchange ideas and to share your thoughts The dollar is keeping steadier as we look to get things going in Europe, with the aussie and kiwi tilting towards the softer side as risk sentiment is keeping more cautious. US stocks snapped an impressive run of gains yesterday and futures are pointing lower so far
NEW DELHI: Gold prices slipped lower on Wednesday from a two-month peak as an uptick in the US dollar hurt the bullion’s appeal. The downside was, however, contained as the yellow metal got support amid global inflation worries. Gold futures on MCX were trading lower by 0.23 per cent or Rs 109 at Rs 48,178
Gold price consolidates at the highest level in 2 months. Its recent rally has been driven by major banks’ attempt to tame rate hike expectations. We expect its strength to remain in the near-term. However, elevated inflation would eventually force central banks to reduce monetary stimulus and increase the policy rate, leading to decline in
The second leg of the treasury schedule this week This week second leg of the treasury auction schedule with the auction of $39 billion of new 10 year notes. Yesterday the treasury auctioned off three year notes with below average demand. The six month averages of the major component pieces of the auction shows: Bid to
TOKYO: prices rose for a third session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand. Brent crude was up 8 cents at $83.51 a barrel by 0220 GMT, after gaining 0.8% on Monday. U.S. oil was up 10 cents at
Yen’s rally resumes today while overall market sentiments are mixed. Asian stocks are treading water but US benchmark yield takes another dive. Swiss Franc is following as the second strongest for now. On the other hand, commodity currencies are trading broadly lower, as led by Aussie. Euro and Sterling are mixed. Main focuses will now
Forex news for Asia trading on Tuesday 9 November 2021 While the headline to this post refers to moves earlier in the session, BTC/USD is still on the move as I post, extending above US$68K. The news has been supportive of crypto in past days and its been relentless. In the FX space the notable
NEW DELHI: Gold prices were unchanged in Tuesday’s session as a weaker US dollar offset firm bond yields. Gold futures on MCX were trading lower by 0.04 per cent or Rs 18 at Rs 48,000 per 10 grams. Silver futures were down 0.18 per cent or Rs 114 at Rs 64,767 per kg. Ravi Singh,
Dollar, Yen and Swiss Franc turned slightly weaker in quiet markets today. Euro is supported by better than expected investor sentiment data, while Sterling also recovers. New Zealand Dollar is also trading higher but Australian and Canadian Dollar are lagging behind. Gold is back above 1800 handle but has yet to break through 1833 key
Employment trends from the Conference Board Prior revised to 109.68 This is a composite index of data that’s already been publishes, like initial jobless claims, but it offers a snapshot of a jobs market that’s stronger than any point this century. “The increase in the Employment Trends Index suggests strong employment growth is in store