The FOMC meeting later this week takes center stage That makes it the key risk event for the market but are we really expecting anything big? Not really, or at least not something too game changing at this stage. To cut things short, the Fed is likely to repeat the same language on policy and
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NEW DELHI: Gold prices fell to a more than one-week low on Monday, weighed down by strength in the dollar, as focus shifted to the Federal Reserve’s policy review due this week. Data showed US consumer prices rose solidly in May, leading to the biggest annual increase in nearly 13 years. Investors awaited the US
Trading is generally subdued in Asian session today, with little reactions to the G7 summit. Also, China and Hong Kong are on a one-day holiday. Commodity currencies are mildly firmer while Swiss Franc and Yen are softer. But all major pairs and crosses are stuck inside Friday’s range. Instead, more volatility is seen in oil,
The Group of Seven rich nations consist of: the United States, Japan, Germany, Britain, France, Italy and Canada. The EU attend also as a member. A couple of main points of agreement: G7 leaders agreed to continue economic stimulus/support programmes “for as long as is necessary”. The intention is not to finish up the programs ‘too
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BOC remained positive about the economic outlook despite recent softer data. The members viewed that weakness in the job market was temporary. Meanwhile, they were more attentive to the rise in core inflation. We believe the plan of QE tapering remains intact while the central bank is still on the way to hike the policy
Negotiations called “intense” The talks to revive the Iran nuclear deal are resuming in Vienna on Saturday. European leaders called the negotiations “intense” with Germany calling for rapid progress. The talks kicked off with Iran, Russia, China, France, Britain, Germany and the EU gathered in a hotel. The US delegation is across the street as
The intra-week rebound in global benchmark treasury yields was rather short-lived. Yields in Germany, US and Japan then turned south after ECB’s decision on PEPP purchases. That came even though CPI jumped to 13-year high. It remains to be seen of investors are giving a strong node to central bankers’ view that it’s transitory. Swiss
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NEW YORK: Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improved outlook for worldwide demand as rising COVID-19 vaccination rates help lift pandemic curbs. Brent crude futures settled at $72.69 a barrel, rising 17 cents after reaching their highest since May 2019. For the week,
There are heavy weights event for Euro and Dollar today, but reactions are so far mild. ECB said it will continue the PEPP purchases at “significantly higher” pace in Q3. Yet, it also upgraded both growth in and inflation forecast for this year and next. Dollar shrug off very strong consumer inflation, as well as
Oil prices continue to sizzle but Saturday’s Iran meetings are a big risk WTI crude oil rose 61-cents to $70.91 today and finished the week up 1.8% after a minor stumble on Monday. Oil is up $10 since May 21. At that time there were headlines indicating an Iran nuclear deal was close. The market
NEW DELHI: Gold prices rose Rs 441 to Rs 48,530 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,089 per 10 gram. Silver also jumped Rs 1,148 to Rs 71,432 per kg, from Rs 70,284 per kg in the
Notable buying is seen in Dollar as markets enter into US session. There is no apparent reason for the rally, except that some traders could be adjusting positions ahead of the high profile G7 summit. Resilience in the Swiss Franc is affirm this pre-emptive risk aversion. Meanwhile, Sterling is also firm after solid GDP data.
Daily thread to exchange ideas and to share your thoughts After all the gyrations in reaction to the US CPI data, major currencies aren’t a whole lot changed though the dollar is holding on the weaker end of the spectrum against the euro and pound in recent weeks. That said, EUR/USD is keeping below 1.2200 while GBP/USD
The only way is down? Here is a collection of some of the arguments I have come across for equity selling and further buying. The buy side The broad fiscal polices have prevented business failures and also kept savings supported which is allowing countries to bounce back quickly. The Q1 results were very good and
Gold prices hovered near the key $1,900 per ounce level on Friday, helped by a weaker and US bond yields, as investors shrugged off data that showed a rise in US inflation and hoped the Federal Reserve would not change its dovish stance. Spot gold was up 0.1% at $1,899.28 per ounce, as of 0059
Swiss Franc is generally firm as weekend approaches. Even though there was no follow through buying in Euro after ECB overnight, the common currency is somewhat support mildly by the strength in the Franc. Meanwhile, Yen’s selloff faded quickly, together with the rebound attempt in treasury yields. Dollar, Canadian Dollar and New Zealand Dollar are