Markets continue to reverse some of last week’s move, as seen in the rebound in European and Asian equities. Dollar, Yen and Swiss Franc all turned weaker while commodity currencies strengthened. PMIs from Eurozone and UK are all solid, despite mild pull back. Yet, both are outshone by commodity currencies. Sterling is currently having a
News
Forex news from the European trading session – 23 August 2021 Headlines: Markets: CAD leads, JPY lags on the day European equities higher; S&P 500 futures up 0.4% US 10-year yields up 1.7 bps to 1.277% Gold up 0.6% to $1,791.87 WTI up 3.1% to $64.05 Bitcoin up 3.4% to $50,340 It’s all about the
NEW DELHI: After seven straight months of net inflows, gold exchange traded funds witnessed a pullout of over Rs 61 crore in July as investors diverted their money to equity and debt funds that generated attractive returns. Despite the negative flows in the category, the number of folios went up to 19.13 lakh in July
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
Sour news out of Australia over the weekend with a worsening of the COVID-19 spread, tighter lockdown restrictions introduced and protest riots in the country’s two largest cities of Sydney and Melbourne. And, in New Zealand, the battle to contain the latest outbreak kicked off last week with very harsh restrictions indeed. As for the
Dollar, Swiss Franc and Yen are taking turns to be the strongest, with the greenback having a little upper hand. But they’re kept in range against each other. Commodity currencies remain the weakest, with Aussie additionally pressured by strict lockdowns, while Loonie is dragged down by falling oil prices. Euro and Sterling are mixed in
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 were flat on Friday, as a firmer eclipsed support from rising anxiety over increasing cases of coronavirus’ Delta variant that could delay economic recovery. FUNDAMENTALSSpot gold was flat at $1,780.43 per ounce by 0056 GMT, while US gold futures was little changed at $1,782.40. The dollar index held near a more than a
Overall market sentiments deteriorated notably last week, with concerns over the swift spread of Delta variant and return to lockdowns, Fed’s tapering and slowdown in China. A softening tone from a Fed hawk on tapering gave sentiment a late lift, but it remained to bee seen if that could last. Dollar ended as the strongest
Feds Powell to speak at 10 AM ET on Friday August 27 Next week’s key events and releases will be highlighted by the Jackson Hole symposium which will take place from August 26 through August 28. The main speech made by Fed chair Powell, will take place on August 27 at 10 AM ET/1400 GMT. The market will be
NEW YORK: prices closed out their biggest week of losses in more than nine months with another down day on Friday, as investors sold futures in anticipation of weakened fuel demand worldwide due to a surge in COVID-19 cases. The crude market has now posted seven consecutive days of losses. Numerous nations worldwide are responding
PBOC left the loan prime rate (LPR) unchanged at 3.85% in July. The inaction does not suggest that the current monetary policy is appropriate. Weakness in economic activities is expected to exacerbate in the second half of the year, thanks to the resurgence of the pandemic and the lingering consequences of the flood. Speculations of
Forex news for North American trading on August 20, 2021 Back on August 11, Fed’s Kaplan said “he was in favor of announcing a plan to taper at the Sept meeting and start tapering in October”. Today near the start of the NY session, Kaplan in an interview on FOXBusiness said: The big “imponderable” is path of Delta virus. So
NEW DELHI: Gold and silver futures prices traded in the green on Friday, gaining support from rising anxiety over increasing cases of coronavirus Delta variant that could delay economic recovery. The gains were, however, capped by a firmer dollar. The dollar index held near a more than a nine-month high hit on Thursday, denting gold’s
Canadian Dollar is trading as the worst performing one today and slightly weaker than expected retail sales data provide little help. Persistent weakness in oil price is weighing down the loonie, together with overall negative sentiment. Overnight development is unchanged that Dollar, Yen and Swiss Franc are the strongest while commodity currencies are the weakest.
Forex news from the European trading session – 20 August 2021 Headlines: Markets: CHF leads, CAD lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields down 1 bps to 1.23% Gold up 0.2% to $1,781.10 WTI down 0.7% to $63.25 Bitcoin up 0.7% to $46,900 It was a quiet
New Delhi: Gold prices in the national capital on Friday jumped Rs 128 to Rs 46,353 per 10 grams, in line with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,225 per 10 gram. Silver gained marginally by Rs 6 to Rs