NEW DELHI: Gold edged higher on Friday and was set for its third straight weekly gain, as concerns over the fast-spreading Delta variant of Covid-19 and a drop in US Treasury yields lifted the safe-haven metal’s demand. The yellow metal posted mild gains in domestic markets. Sentiment in wider equity markets remained fragile as Delta
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Yen and Swiss Franc turn softer today as overall sentiments stabilized. US stocks once again pared back much of earlier losses overnight and closed just slightly down. Asian markets were just mixed only, with Nikkei also reversing most of earlier losses. Dollar is currently the stronger one for today, followed by commodity currencies. As for
Is the reflation trade really dead? If you take a look at commodities and commodity currencies, the peak of the trade came around mid-March. Energy has been an exception but that’s a result of OPEC+ (oil) and hot weather (natural gas). It’s a similar story in equities where growth/tech re-took leadership from value/cyclicals around the
NEW DELHI: Gold in the national capital on Thursday was marginally up by Rs 9 to Rs 46,981 per 10 gram with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,972 per 10 grams. Silver, however, declined Rs 902 to Rs 67,758
Risk aversion generally dominates the global markets today. Following selloff in Asia, major European indexes open lower and are trading down around -2%. DOW future is also losing around -500pts. Swiss Franc and Yen are overwhelmingly the strongest ones for the day, as followed by Euro and Dollar. Commodity currencies are the worst performing, Focus
Metal news Aluminium is a metal worth considering for a medium term buy.Here are the positive reasons for that: Global aluminium demand growth is set to grow moved by energy transition related sectors like transportation and renewable energy from China, the US and Europe. Many major economies have a real push now to try and
NEW DELHI: Gold held steady on Thursday as lower US Treasury yields countered a stronger dollar after minutes from the Federal Reserve’s last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year. The yellow metal traded marginally lower in the domestic market. Fed officials last month
US stocks surged to new record overnight, shrugging off FOMC minutes. But Asian markets are walking another path, as led by the free fall in Hong Kong stocks. Yen surges broadly on risk aversion, followed by Swiss Franc. Commodity currencies are generally pressured, with Aussie weighed down by dovish RBA comments too. Euro, Sterling and
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
New Delhi: Gold in the national capital on Wednesday dipped marginally by Rs 29 to Rs 46,903 per 10 gram reflecting an overnight fall in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,932 per 10 grams. Silver also tumbled Rs 762 to Rs
The forex markets are generally range bound as traders await FOMC minutes. The main focus will be on discussions on the timing of tapering, which wasn’t clearly indicated in the statement and economic projections. Dollar’s rise appears to be losing steam as global sentiments stabilized today. DOW futures point to a recovery while S&P 500
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
NEW DELHI: Gold prices rose on Wednesday, going towards a three-week high scaled in the previous session, helped by a drop in US Treasury yields as investors awaited the minutes of the US Fed‘s June meeting for clues on policy outlook. The yellow metals posted mild gains in domestic markets. All eyes are set on
Yen and Dollar surged strongly overnight, but lost some momentum after on stocks recovered from initial steep selloff. Both are still firm with Asian markets in risk aversion mode. Canadian Dollar is currently the worst performing for the week, followed by Aussie. Focus will now turn to FOMC minutes for guidance on the next moves,
Tough to bet against the bond market It was easy enough to dismiss the drop in yields after the FOMC as a short squeeze but a second fall to these levels is a bigger concern. Maybe these are gyrations around the turn of the quarter but if that’s the case, it’s unusually large and long-lasting.
By Stanley Reed Oil prices touched their highest levels in years Tuesday, a day after OPEC, Russia and their allies failed yet again reach agreement on production increases. A teleconference planned for Monday never started, following meetings Thursday and Friday that did not reach a deal. West Texas Intermediate, the U.S. bench mark, rose as
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with Sterling. European stocks are trading mildly
ECB On the 22nd of July the ECB meet again and speculation will once again rise about whether the €1.85 billion emergency asset purchase program will continue. This question is of interest to currency traders as easing of this program is the forts step prior to rising interest rates and that sends the euro higher.