Dollar’s rally continued last week as supported by hawkish comments from Fed officials. Expectations for tapering this fall continued to build up. Swiss Franc is trading broadly lower, as the pull back against Euro accelerated. Meanwhile, Australian is also trading lower on poor business confidence data. Focus will turn to Germany economic sentiment first, with
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Daily thread to exchange ideas and to share your thoughts FX is still looking a little stuck to start the week, though the dollar is keeping in a decent spot as the market battles between Fed taper expectations and delta variant concerns. EUR/USD is treading water to fresh lows since 1 April and the end-March lows @
NEW DELHI: After a steep fall, gold prices rebounded mildly on Tuesday. However, the yellow metal languished near multi-month lows on heightened market expectations of Federal Reserve’s tapering. Gold futures on MCX were up 0.40 per cent, or Rs 185, at Rs 46,071 per 10 gram. Silver futures gained 0.78 per cent, or Rs 486,
Overall markets are mixed today, as Dollar is digesting some of last week’s gains, awaiting more guidance from FOMC members regarding tapering. New Zealand and Canadian Dollar are the stronger ones for now. But Australian Dollar is among the weakest together with Euro and Swiss France. Yen and Sterling is slightly firmer. Gold and silver
Richmond Fed president Barkin speaking Demand does not yet seem indented by Delta variant Demand for labor continues to outpace supply of people willing to work Current pressure on wages is intense at lower levels of the pay scale The inflation expectations near target support idea that recent inflation rates are temporary On price said Fed
New Delhi: Gold in the national capital on Monday dipped Rs 317 to Rs 45,391 per 10 grams, in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, gold closed at Rs 45,708 per 10 grams. Silver also tumbled Rs 1,128 to Rs 62,572 per kg, from
While the currency markets are rather quite, big surprise is found in gold price, which smashed to as low as 1684, hitting the lowest level since March. Silver also tumbled to as an eight-month low of 22.5. The move was, for certain, exaggerated by the ultra thin Asian morning. Yet, the near term bearishness is
Forex news for Asia trading on Monday 9 August 2021 Gold plunged soon after the opening of Sunday evening US futures trade with a rapid drop towards $1680, down circa $80. The move came at a very low liquidity time, it doesn’t get much poorer than a Sunday evening, which is early Monday Asia time.
Gold skidded as much as 4.4% to a more than four-month low on Monday as robust US jobs data stoked fears that the Federal Reserve would raises rates quicker than expected, increasing the opportunity cost of holding non-interest bearing bullion. FUNDAMENTALSSpot gold fell 2.3% to $1,722.06 per ounce by 0048 GMT. Earlier in the session,
Dollar soared towards the end of the week as the stellar job report should give Fed much confidence to start tapering later in the year. Reactions from stock markets and yields were also positive, with DOW and S&P closing at new records while 10-year yield rebounded. Together with the steep fall in gold, overall development
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The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of
In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7% China’s trade surplus with the United States ( Reuters calculation) $35.4
NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came under pressure as the dollar strengthened after monthly US job growth
Despite recovery, crude oil prices are prone to record the first decline in 3 weeks. The sharp selloff earlier in the week is a result of a confluence of factors including resurgence of the pandemic in the US and China, China’s economic slowdown and OPEC+’s plan to increase output. The rapid spread of the delta
Forex news for North American trading on August 6, 2021 The awaited jobs report was released today at 8:30 AM ET, and it did not disappoint. The net change in nonfarm payroll jobs was 943K. That was above the 870K estimate. Moreover, the June report was revised higher by 88K to 938K, and the May report was also revised