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Markets: WTI crude oil down $4.64 to 78.84 US 10-year yields down 2.7 bps to 3.68% UK 10-year yields up 33 bps to 3.83% Gold down $27 to $1643 S&P 500 down 1.7% USD leads, GBP lags (badly) Today’s price action was probably just an extension of the FOMC trade and the growing belief that

Risk-off sentiment continued in the commodities market, whether bullion, base metals, energy or agri commodities. US Central bank continued with mega-size rate hikes and gave the message they would do everything to bring the inflation down to within their comfort zone of 2 per cent, even if it leads to a path of a painful

It’s such a week of surprises. The biggest one was probably the free fall in Sterling, as markets reaction to the “mini-budget” of the new UK government was overwhelmingly negative. Commodity currencies and Euro were also pressured on risk aversion. Dollar emerged as the strongest one after hawkish Fed hike, selloff in risk assets, and

The major US stock indices are closing lower for the 4th consecutive day. For the week, the majors major indices are also down sharply. Recall from this time last week, Adam warned that this week is the worst week on the calendar seasonally for equities, over the past 50 years.It lived up to that distinction

Gold price in the national capital fell by Rs 139 to Rs 50,326 per 10 grams on Friday amid a fall in international precious metal prices, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,465 per 10 grams. Silver also fell sharply by Rs 363 to Rs 58,366 per

Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it’s closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, despite strong rally in treasury yields. For now, Kiwi is the worst performer for the performer among the weak commodity

This is the time of year when C-suites and corporate boards meet to discuss growth plans for the year ahead. In light of the price action in financial markets, those dicussions are going to be much different than they would have been a month ago. Borrowing costs are skyrocketing and uncertainty about the economy is

Gold prices dropped more than 1% to their lowest since April 2020 on Friday as a cocktail of factors from a robust dollar and elevated U.S. bond yields to worries around more U.S. interest rate hikes diminished bullion’s appeal. Spot gold XAU= was down 1.7% at $1,642.79 per ounce by 1058 GMT and was heading

Sterling is in free fall today as markets reacted negatively to the “mini-budget” of the new government. Selloff came after Finance Minister Kwasi Kwarteng announced to cancel and planned rise in corporation tax, reverse a recent rise in income tax, and cut taxes for businesses in designated investment zones. Swiss Franc is currently the biggest

The dollar is keeping steady so far today, maintaining a decent advance from yesterday as bonds capitulated while equities were pressured. I mean, 10-year Treasury yields saw a big surge from 3.55% to 3.70% in US trading so that definitely is something. There are no easy answers on the former and Adam provided a fair

Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. FUNDAMENTALS Spot gold was flat at $1,671.60 per ounce by 0107 GMT. U.S. gold futures ticked 0.1% higher

Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among

US 10 year yields daily I’ve written plenty on bonds today and here’s where we stand: 1) Lots of talk about Japan The blowup started with intervention so that’s where it likely lies. It started in the belly of the curve and that’s the duration that reserve managers like to hold. Others though argue that

Gold price in the national capital rose by Rs 442 to Rs 50,399 per 10 grams on Thursday amid a rise in international precious metal prices and sharp rupee depreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 49,957 per 10 grams. Silver also climbed by Rs 558 to

Extreme volatility was seen in the markets in the past 24 hours. Yen rebounds broadly today after Japan confirmed that “decisive” currency intervention was made. That came after BoJ stood pat and pledged to keep rate at low level. Swiss Franc was sold off sharply after SNB hiked 75bps, but hinted at the possibility of

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The Bank of Japan announcement: Other Japan’s Matsuno says he is expecting the BOJ to continue with appropriate policy Heads up for the Bank of Japan monetary policy statement — due imminently European Union government ministers agree to hit Russia with additional sanctions ASAP USD up in Asia time … almost everything else is not

The Fed and BOJ continue to be on opposite ends of the spectrum with the former sending a rather hawkish message to markets that they are in it for the inflation fight. Meanwhile, the latter continues the same old communique while keeping monetary policy unchanged – which saw USD/JPY briefly hit above 145.00 for the