Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both will look into BoE and SNB policy decision today. Commodity currencies are on the softer
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Daily thread to exchange ideas and to share your thoughts Fed taper? No problemo. Equities continue to shine as the market is feeding off calmer tones surrounding Evergrande as we carry on through the week. US futures are up 0.3% and that is keeping the overall mood steadier ahead of Europe. The dollar is little changed for
NEW DELHI: Gold and silver futures dipped on Thursday, following global trends after US Federal Reserve signalled easing its monthly bond purchases by next year and a sooner-than-expected interest rate hike. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
This is playing out according to script The Fed is playing second fiddle to China today. Whether there’s a taper in November or December doesn’t matter. We get a nod that a taper is coming this year in the statement and that’s about all the hawks could have expected. The surprise came in the dot
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Markets have turned quiet today as focus is shifted to FOMC policy decisions. While a tapering announcement is highly unlikely, there are still prospects of hawkish surprises in the dot plot and the economic projections. In the currency markets, Sterling is currently the worst performing one for the week, followed by Kiwi and then Aussie.
Daily thread to exchange ideas and to share your thoughts Some relative comfort for risk trades but sentiment remains rather fragile as the market continues to digest the wall of worries posed by Evergrande/China. The Fed will steal the focus in the day ahead and any hawkish signals on tapering could drown out any bounce in risk
NEW DELHI: Tracking global cues, gold prices were little changed in the domestic market, trading almost flat on Wednesday. Asian markets were trading cautiously amid rising uncertainties triggered by China’s Evergrande debt crisis and anticipation of policy cues from the US Federal Reserve on its timeline for reducing stimulus in the world’s largest economy. Gold
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both remain under pressured. Meanwhile, Swiss Franc and Canadian Dollar are taking the lead and strengthen
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New Delhi: Gold in the national capital on Tuesday was marginally down by Rs 3 to Rs 45,258 per 10 grams inline with weak global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,261 per 10 grams. Silver gained Rs 40 to
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst performing so far, worse than even commodity currencies. Selling in European crosses is clearly weighing
Daily thread to exchange ideas and to share your thoughts Has the market gotten over Evergrande/China fears already? Not quite. The perceived calm so far today may just be a light reprieve before the next storm hits, and that will depend on the response by the PBOC and Chinese officials tomorrow. While there will be no direct
NEW DELHI: Gold prices were trading little changed on Tuesday, holding recovery gains of the previous session. Investors adopted a risk-averse stance ahead of the US Federal Reserve’s policy meeting. Gold futures on MCX were marginally down 0.16 per cent, or Rs 73, at Rs 46,205 per 10 gram. Silver futures were flat, down merely
Markets are generally in deep risk-off mode today, as China property fears spread from Hong Kong stocks to European to US. Yen remains the strongest one as rally extends, which Swiss Franc is trying to catch up. Dollar is is losing some ground but stays much better than others. Canadian Dollar is currently the worst
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Gold prices inched lower on Monday, pressured by a firmer dollar, while investors awaited guidance from the US Federal Reserve on when it is likely to start withdrawing its bond-buying programme. FUNDAMENTALS Spot gold dipped 0.1% to $1,752.66 per ounce by 0050 GMT, while US gold futures edged up 0.1% to $1,753.80. The dollar index