While DOW hit new intraday record high overnight, positive sentiment was not carried forward to Asia. Instead, stocks tumbled as the troubled China’s property giant Evergrande failed to close the sale of the controlling stake in its property management business. The company could official go into default next Monday. Yen and Dollar are both recovering
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MELBOURNE: Oil prices turned down after the Chinese government flagged it was looking for ways to tame record high coal prices and that it would ensure coal mines operate at full capacity as Beijing moved to ease a power shortage. Chinese coal prices and other commodity prices slumped in early trade, which in turn pulled
European majors turn generally softer today, in particular, with Sterling paring some gains after strong but lower than expected consumer inflation data. Dollar also weakens with treasury yield dipping slightly while Yen is trying to recover. But overall, Kiwi and Aussie maintain their position as the best performer. US futures are pointing to a flat
Canadian CPI coming up next The economic news that’s surprised me the most this week was the Bank of Canada’s business outlook survey. Every part of if was enthusiastic for the future: sales expectations, hiring and investment. As I told Reuters yesterday, everything is aligned for Canadian dollar strength at the moment. What was interesting
NEW DELHI: Gold prices traded higher on Wednesday ahead of the busy festive season, bucking the global trend. Surging US bond yields have dented the yellow metal’s appeal. Gold futures on MCX were trading higher 0.21 per cent, or Rs 100, at Rs 47,380 per 10 gram. Silver futures were marginally up 0.04 per cent
Yen continues to be under selling pressure, following the strong rally in US stocks overnight. Yen is additionally weighed down by rally in treasury yields. New Zealand Dollar is leading commodity currencies higher, while Australian and Canadian Dollars are also strong. Euro and Sterling are mixed for the moment, with Sterling having a slight upper
NZ’s government minister heading the COVID-19 response says daily cases could get up to the ”high hundreds” His comments come in the wake of yesterday’s record high 94. Minister Hipkins speaking with Radio NZ: “We’re likely to see case numbers continue to increase for a period and we do need to be prepared for that” “The
NEW DELHI: Gold prices traded higher on Tuesday as a decline in the US dollar and US bond yields provided some support to the precious metal. Buyers in other currencies made the bullion cheaper, supporting the yellow metal. The dollar index declined and languished near the lows of its recent range. Gold futures on MCX
Selling in Dollar and Yen persists again today. New Zealand Dollar is currently the biggest winner, on increasing expectation of RBNZ rate hikes. While Aussie is also strong, Sterling is slightly stealing the show too, with help from renewed buying against Euro. The cautious comments from ECB policymakers are not giving much support to Euro,
Forex news from the European trading session – 19 October 2021 Headlines: Markets: NZD leads, USD lags on the day European equities higher; S&P 500 futures up 0.5% US 10-year yields up 0.9 bps to 1.593% Gold up 0.9% to $1,779.97 WTI up 1.1% to $83.35 Bitcoin up 1.2% to $62,135 It was a quiet
New Delhi: Gold in the national capital on Tuesday rallied by Rs 256 to Rs 46,580 per 10 gram in line with a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,324 per 10 gram. Silver also jumped Rs 188 to Rs
Dollar’s selloff resumes in Asian session today, while Yen is also trading lower. Risk-on markets in Asia lift New Zealand and Australian Dollar. European majors are mixed for the moment, with Euro trying to recover against Sterling and Swiss Franc. The economic calendar is rather light today, and focuses will mainly be on the development
The Reserve Bank of New Zealand have noted that a risk to their intention to hike rates ahead is the coronavirus. The 94 cases today will provide some thought on how it will impact the RBNZ, 94 is a record dally new case count. I’d suggest, at this stage, not much. My reasoning is vaccinations
NEW DELHI: Gold prices traded firm on Monday, recouping some losses after a steep sell-off in the previous session. US bond yields and the dollar softened, restoring some of the precious metal’s appeal. Gold futures on MCX were trading up 0.18 per cent, or Rs 86, at Rs 47,299 per 10 gram. Similarly, silver futures
The forex markets are generally staying in consolidative mode today, with Euro and Swiss Franc trading mildly higher. Meanwhile, Aussie is leading other commodity currencies for retreats. Dollar is also trying to firm up with 10-year yield breaking above 1.62 handle. Yen, is also mildly higher with help from some pull back in stocks. Overall,
Rates higher across the curve The belly of the curve is leading the way again today with US 5s up 7 basis points to 1.19%. That’s the highest since the pandemic got underway. It’s not a consistent picture in the yield curve with 2s up 4 bps then 5y and 7y yields up 6-7 bps.
New Delhi: Gold in the national capital on Monday gained marginally by Rs 37 to Rs 46,306 per 10 grams, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,269 per 10 grams. Silver jumped Rs 323 to Rs 62,328 per kilogram from Rs 62,005 per kilogram in the