Australia Dollar tumbles broadly today as markets are dissatisfied with RBA’s dovish stance, even though yield curve control is abandoned. Commodity currencies are also trading generally lower. On the other hand, Yen is staging a strong rebound after Japanese Finance Minister Shunichi Suzuki said he’s keeping an eye on the weakening exchange rate. The move is
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Forex news for Asia trading on Tuesday 2 November 2021 Forex moves were minor during the early part of the Asian day with traders awaiting the Reserve Bank of Australia on Tuesday and the Federal Open Market Committee on Wednesday News and data flow was light and did not move rates around to any significant
Gold prices eased on Tuesday as a firmer made bullion less appealing for holders of other currencies, while investors eyed a pivotal U.S. Federal Reserve policy meeting amid growing concerns over a sustained bout of inflation. FUNDAMENTALS * Spot gold was down 0.2% at $1,789.58 per ounce, as of 0158 GMT. U.S. gold futures dropped
The November FOMC meeting would see the Fed making a formal announcement on QE tapering. We expect the plan would begin immediately and is expected to end by mid-2022. The Fed funds rate will stay unchanged at 0-0.25%. The market has priced in over 60% of a rate hike in June 2022. This appears unlikely
No easy solutions and the problem may last for a long time One of the best things I read this weekend was a Medium post from a trucker describing what’s happening in US shipping on the ground and why it won’t be fixed any time soon. Crushing wait times at ports Shortage of shipping container
New Delhi: Gold prices declined marginally by Rs 10 to Rs 46,673 per 10 gram in the national capital on Monday amid muted global trends, according to HDFC Securities. The precious metal had settled at Rs 46,683 per 10 gram in the previous trade. Silver also declined by Rs 230 to Rs 63,014 per kg
Japan’s Nikkei index surges sharply by over 2% in Asian session, in very positive response to the easy win of the Liberal Democratic Party in Sunday’s election. Prime Minister Fumio Kishida’s LDP retained comfortable majority in the House of Representatives, ensuring continuity of the economic policies. While other Asian markets are mixed, Yen is trading
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 of your initial investment; do
Gold prices edged lower on Monday, extending the previous session’s losses, as the strengthened after data showing another advance in inflation fuelled bets over the Federal Reserve tightening its policy sooner. FUNDAMENTALS * Spot gold fell 0.1% to $1,781.78 per ounce by 0044 GMT, after slipping to an over one-week trough on Friday. U.S. gold
Major pairs and crosses are stuck inside yesterday’s range so far, as consolidative trading continues. Euro appears to be lifted slightly by ECB’s press conference but there is no follow through buying. Dollar also looks just a touch weaker after worse than expected Q3 GDP data. Overall, commodity currencies are the softer ones, with eyes
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 of your initial investment; do
NEW DELHI: Gold prices declined in the domestic markets, bucking the global trend. At the international level, the yellow metal was set to mark its straight third weekly gains. Ease in US bond yields and a tepid dollar aided bullion’s safe-haven appeal. A weaker greenback makes gold more attractive to buyers holding other currencies. Meanwhile,
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It is the first week of the new month which means purchasing managers data along with the US and Canada jobs report are on tap The month of October has come and gone, and with it the major economic releases for the new month restart their cycle. Traditionally, PMI data kicks off the key releases
Mumbai: Finally, gold is set to regain its sparkle this Diwali as jewellers are expecting up to 30 per cent sales growth over the pre-Covid levels on the back of a faster-than-expected economic recovery along with lower prices and pent-up demand. The gems and jewellery industry witnessed a near washout during ‘Diwali’ and ‘Dhanteras’ 2020,
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
November forex seasonals November is an interesting month for seasonals because there are a few strong trends and some that often interrupted. Cable is an interesting example. One the face of it, the 0.42% average decline over the past 20 years is unremarkable but when you strip out the past two US Presidential elections (2020
New Delhi: Domestic gold prices are expected to surge towards the highs of Rs 52,000-53,000 over the next 12 months. In 2021, prices of the precious metal have been trading between Rs 47,000 and 49,000 mark per 10 grams. However, gold prices had seen a surge during 2019 52 per cent and 25 per cent