Gold prices steadied on Wednesday, after slipping 1.6% in the previous session when it breached the key psychological level of $1,800, as gains in the and a rise in US Treasury yields hurt bullion’s appeal. FUNDAMENTALS Spot gold rose 0.1% to $1,796.03 per ounce by 0116 GMT, hovering slightly above the more than one-week low
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Risk sentiment turns a bit weaker today in the stock markets. But benchmark European and US yields are staging a strong rally. In the currency markets, Aussie is sold off is in delayed reaction to RBA’s dovish tapering, but Canadian is follow closely with selloff in oil price. Sterling is also falling in European crosses,
Why are rates moving up on a soft jobs report? The bond market is the driving force in markets today as the counter-intuitive selloff following non-farm payrolls is continuing. The August high of 1.379% is just over one basis point away after breaking through the 200-dma at 1.333%. The thinking in the bond market is
New Delhi: Gold in the national capital on Tuesday fell by Rs 37 to Rs 46,417 per 10 gram amid weak precious metal prices in the international market, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,454 per 10 grams. Silver also tumbled Rs 332 to Rs 63,612
Trading in the currency market is rather subdued today and markets will stay quiet with US and Canada on holiday. Dollar is paring some of last week’s large losses but upside momentum is weak. On the other hand, Australia Dollar is turning slightly weaker as tomorrow’s RBA policy decision is awaited. The reaction in Aussie
RBA to announce their latest policy decision at 0430 GMT The RBA is expected to keep its cash rate unchanged but the big decision to watch is whether or not they will stick with tapering plans in today’s meeting. They shrugged things off back in August here but since then, the virus situation hasn’t gotten
Gold prices firmed on Tuesday, propped up by a softer dollar and prospects of the US Federal Reserve delaying a tapering in its pandemic-era bond purchases. FUNDAMENTALSSpot gold rose 0.2% to $1,826.75 per ounce by 0108 GMT. Prices had hit a 2-1/2-month high last week following a disappointing US non-farm payrolls data. A strong jobs
The pace of asset purchases in the Pandemic Emergency Purchase Program (PEPP) in 4Q21 is the focus of this week’s ECB meeting. Following hawkish comments from some council members, especially chief economist Philiip Lane, hopes that an announcement related to reduction in purchases would be made at the upcoming meeting have increased. The policy rates
Boom, bust and echo The world celebrated as the UK delta covid cases looked to form a v-shaped top and quickly sag but the picture is growing more complicated, just as kids head back to school. The seven-day average of cases is now the highest it’s been since late July and daily cases at 41,192
New Delhi: Gold in the national capital on Monday declined Rs 71 to Rs 46,503 per 10 gram in line with weak global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,574 per 10 grams. In contrast, silver gained Rs 263 to Rs 64,168 per
While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and Australian Dollars are the strongest ones for the week. Canadian Dollar is lagging far behind
Forex news for Asia trading on Monday 6 September 2021 The USD showed patchy strength in Asia trade to open the week. Trading was thinned out a little with the long weekend in the US and Canada (markets in the US and CAD will be closed Monday). USD/JPY is trading just a little higher, unlike
Gold prices eked out small gains on Friday, buoyed by a weaker dollar, with investors awaiting the US jobs data to gauge the Federal Reserve’s plans to start tapering asset purchases. FUNDAMENTALSSpot gold rose 0.1% to $1,811.79 per ounce by 0115 GMT, but was headed for its first weekly decline in four. US gold futures
Fresh highs in GBP and NZD The post-NFP volatility has turned into a slow grind lower for the US dollar and cable (above) is at a new high along with NZD/USD. I think the continuing grind is the right trade but it’s tough to get behind any moves with 3 hours left of trading ahead
PERAK, MALAYSIA/SINGAPORE: In a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented cows graze in overgrown areas of the estate. A coronavirus pandemic-induced labour crunch has forced managers of the 2,000-hectare estate in Slim River to find creative ways to
Texas in the winter of 2020 might be just a preview I have been writing lately about natural gas, warning that it’s the next commodity story to go mainstream. Now, it’s happening. The coming winter may give the world a painful lesson in just how pervasive and vital gas has become for the economy. Bloomberg