Trading in the Asian markets is relatively subdued again. Asian stocks are mixed even though DOW and S&P 500 rose to new record highs overnight. Dollar continues to fail to find a committed direction. While the greenback remains firm against Euro, Swiss Franc and Yen, it clearly lacks upside momentum against commodity currencies. With a
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NSW has seen a record-high new case count today and no end in sight to the spread. The state leader says to prepare for higher numbers in the days ahead. On the other side of the country, Western Australia has tightened its border control with NSW. As of August 17: NSW is to be designated under
NEW DELHI: Gold prices were mildly higher in Indian market on Friday, tracking flat trends in other Asian peers. The precious metal was headed for a second consecutive weekly decline. Gold futures on MCX were up 0.19 per cent, or Rs 87, at Rs 46,450 per 10 gram. Silver futures gained 0.31 per cent, or
Dollar is trying to regain some ground in early US session after stronger than expected PPI. Both initial and continuing jobless claims also continued to trend lower. The greenback is followed by Euro and Yen while Aussie and Kiwi are softest. Though, major pairs and crosses are staying inside yesterday’s range for now. As for
Details of the recent 30 year auction trends The U.S. Treasury will auction off the $27 billion of 30 year bonds at the top of the hour. Yesterday the 10 year auction went off without a hitch. In fact it was one of the strongest auctions in recent memory with a tale over -3 basis
New Delhi: Gold in the national capital on Thursday rallied Rs 422 to Rs 45,560 per 10 gram amid gain in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,138 per 10 gram. Silver also gained Rs 113 to Rs 61,314 per kilogram from
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slipped -0.14 mmb to 1267.52 mmb in the week ended August 6. Crude oil inventory resumed decline, falling-0.45 mmb (consensus: -1.27 mmb) to 438.78 mmb. Stockpile decreased in PADD 1, 2, and 3. Cushing stock
CAD catch up The big picture for the CAD has been as follows. April’s BoC meeting was a hawkish tilt ( on an unexpected QE reduction)and saw the CAD gain rapidly. Take a look at the USDCAD chart below and see the gains the CAD made. However, with so much strength being priced into the
NEW DELHI: After a steep fall, gold prices were little changed on Thursday. The yellow metal held steady, trading mildy lower after an overnight gain. Gold futures on MCX were down 0.14 per cent, or Rs 67, at Rs 46,321 per 10 gram. Silver futures shed 0.34 per cent, or Rs 216 lower, at Rs
Dollar drops notably in early US session after consumer inflation data. Headline CPI was steady while core CPI slowed a little. At least, inflation hasn’t been worsening from Fed’s “transitory rhetoric”. US stock futures also jump, probably on reduced concerns over monetary tightening. New Zealand and Australian Dollars are currently the strongest, followed by Swiss
Oil up $1.00 to $69.29 WTI crude fell as low as $66.67 today after the White House called for more OPEC production but after a flurry of criticism, officials walked back some of the statement, saying it was more of a long-term push. That communication is equally bizarre given that by Q2 of next year,
New Delhi: Gold in the national capital on Wednesday jumped Rs 159 to Rs 45,130 per 10 gram amid firm global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 44,971 per 10 gram. Silver also gained Rs 99 to Rs 61,250 per kilogram from Rs 61,151 per
Dollar’s rally continues in Asian session today, in particular against Euro, Swiss Franc and Yen. Though, cautious comments from Fed Evans is not giving any particular boost elsewhere. Commodity currencies are still resilient, as supported by overall optimistic sentiment, with DOW closing at new record high. Main focus will now turn to US consumer inflation
Euro’s moving parts There have been a few subtle moves over the last few weeks, so here are some of the key points not to miss. USD strength – The EURUSD is sometimes nicknamed the ‘anti-dollar’ index because it moves exactly opposite to the Dollar Index. The bullish Fed speak from Clarida, Bullard, and the
PUNE: Soyabean prices fell in futures trade on the NCDEX on Tuesday–the third consecutive day of fall–on rumours that the government may soon allow import of genetically modified soyameal. The soyabean September contract hit the lower circuit on Tuesday morning, with trade closing at Rs 7,618/quintal as the market believes that the country may import
Gold trading is slim after Monday’s sharp selloff. Despite concerns over the delta variant, the precious metals lost their safe haven appeal as speculations over Fed’s early tapering escalated after the strong nonfarm payolls data. The front-month Comex gold contract slumped to a 4-month low of 1677.9 before settling at 1726.5 on Monday. The yellow
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The decline in gold prices in recent weeks was due to a combination of factors ranging from increasing cases of Covid-19, Delta variant cases, a dovish tone by US Fed on tapering, lower bond yields in the US and good non-farm payrolls data. Rising coronavirus cases across the United States and other countries fuelled fears