WI was trading at 2.161% at the time of the auction High yield 2.172% versus WI level of 2.161% Tail 1.1 basis point Dealers 17.98% versus 18.3% six month average Bid to cover 2.29X versus six month average of 2.39X Indirects 64.0% versus six month average of 62.7% Directs 18.0% versus six month average of 18.9% Auction grade: C- Versus the the 3
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LONDON: OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China, although it cited uncertainties around the path of the pandemic. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said demand would rise by 5.95 million barrels per day
The ECB meeting contains little surprise. On economic developments, despite the notion that recent rise in inflation has been driven by temporary factors, the staff upgraded headline inflation projections sharply for this year and 2022. All monetary policy measures stay unchanged. Obviously, policymakers avoided to mention about “taper”, amidst concerns over tightening financial conditions. Acknowledging
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NEW DELHI: Gold prices were subdued on Thursday, weighed down by a firmer dollar. Investors are on the sidelines waiting for clearer signals on inflation levels and economic growth from the US and the European Central Bank. The yellow metal was trading tepid in domestic markets, with marginal cuts. The buyers of the safe-haven metals
Euro softens broadly today as markets await ECB policy decision. Traders appear to be position for a dovish, or at least cautious, ECB press conference. Nevertheless, Sterling and Dollar are also soft, indicating that the markets are not one sided yet. Meanwhile, commodity currencies are trading mildly firmer today, together with Yen. That also suggest
EUR/USD strategy from TD TD Research discusses its expectations for tomorrow’s ECB meeting and likes selling EUR/USD around 1.22. “The ECB also meets this week and, they may attempt a backdoor taper. Still, they will most likely maintain the language in the press release that PEPP purchases will continue “at a significantly higher pace than
NEW DELHI: Gold dipped Rs 92 to Rs 48,424 per 10 grams in the national capital on Wednesday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,516 per 10 grams. Silver also went lower by Rs 414 to Rs 70,181 per kg, from Rs 70,595 per kg in
Major pairs and crosses are bounded inside yesterday’s range so far, as quiet trading continues. Dollar is mildly lower but loss is very limited, while Swiss Franc might be picking up some buying again. Stock markets are also treading water in very tight range. Nevertheless, notable weakness is seen in treasury yields. In particular, US
Daily thread to exchange ideas and to share your thoughts It is one of those days as the market is keeping quieter considering that there isn’t much to work with from a fundamental perspective. In FX, the technicals are still holding up over the past three weeks so perhaps everyone is looking for a break for now.
NEW DELHI: Gold prices surged up on Wednesday, on the back of falling US bond yields. Investors are holding back from making large bets ahead of US inflation data and the European Central Bank policy meeting this week. The precious metal traded firm in domestic markets. Labour Department data showed US job openings surged by
Global financial markets are generally treading water this week so far. Trading in the forex markets is also subdued. Canadian Dollar is currently leading other commodity currencies lower, awaiting BoC policy decision today. On the other hand, Swiss Franc is the strongest one, lifting Euro higher too. In other markets, Gold is still struggling to
Nuclear deal negotiations continue Wednesday The US released a curious statement today and asked Iran to “refrain from taking further steps” that violate the nuclear deal. That’s a hint that talks might not be heading to a conclusion. These have been billed as the ‘final’ talks but they said the same thing last week and
Domestic gold futures gave up initial gains on Tuesday but managed to hold the Rs 49,000 per 10 grams mark, as a stronger dollar overseas made the yellow metal less attractive for those holding other currencies. Investors awaited US inflation data for more clarity on interest rates in the world’s largest economy going forward. MCX
Swiss Franc jumps broadly in otherwise quiet markets today. Canadian Dollar is second strongest, then Dollar, but both are staying inside yesterday’s ranges. Sterling is currently the worst performing one, followed by New Zealand Dollar and then Yen. But the selling in the two are far from being clear. In other markets, Gold has a
Daily thread to exchange ideas and to share your thoughts The dollar is holding steadier today after a slight drop yesterday, continuing the post-NFP move on Friday last week. That said, there isn’t much changed at all in terms of the technicals and that suggests the market is still largely trending sideways for now. That has pretty
NEW DELHI: Gold prices hovered near the key level of $1,900 an ounce on Tuesday, supported by a weaker dollar and lower bond yields, while investors awaited US data later this week to gauge inflationary pressure. The yellow metal traded flat in the domestic markets. Market participants’ focus this week will be on the US
Trading continue to be relatively subdued this week so far. While Dollar weakened overnight, losses were very limited. The greenback is indeed recovering mildly in Asian session. Australian Dollar also received little lift from strong business conditions data. Gold breached 1900 handle, but lacks the conviction to extend near term rebound. WTI crude oil also