A look at seasonal trends in the forex market for June 2021 June will begin after a long weekend in the US as we turn the calendar Tuesday with an OPEC meeting that could set the table for crude and commodity currencies. In the bigger picture, economic data and central banks are growing drivers in
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The world’s worst coronavirus outbreak is changing the way Indians buy gold, hastening a shift to modern, retail stores. While buyers have been slowly shifting away from the thousands of family-run jewelry shops that control the bulk of the world’s second-biggest gold market, the pandemic has sped up the process, according to Ramesh Kalyanaraman, executive
Overall, the markets in the last full trading week of May was rather mixed. New Zealand Dollar surged initially after hawkish RBNZ. But it failed to extend much gain from there, even though it still ended as the strongest. It looked like Dollar was ready to turn around after strong inflation reading, but it also
Forex news for North American trade on May 28, 2021: Markets: Gold up $8 to $1904 WTI crude oil down 21-cents to $66.64 US 10-year yields down 1.1 bps to 1.59% S&P 500 up 0.1% USD leads, NZD lags Month end took the FX market for a bit of a ride again. There was heavy
Gold reversed course and turned positive on Friday, briefly popping above the key $1,900 level, after data showed US consumer prices surged in April and boosted bullion‘s appeal as an inflation hedge. Spot gold rose 0.1% to $1,896.96 per ounce by 12:10 p.m. EDT (1610 GMT), having earlier dipped as much as 0.8%. It is
Correlation between US stocks and bonds has turned positive and continued to rise. The phenomenon, not seen since September 2020, probably reveals increasing risk aversion, driven by rising inflation expectations. The correlation could return to negative, thus facilitating asset diversification, if inflation proves transitory and central banks could maintain its expansionary monetary policies. Otherwise, sustainably
Lively debate on what is driving the market China is the elephant in every commodity trading room. It’s a consumer of huge amounts of commodities, including about half of global copper. Due to the nature of its economy and commands from the Communist Party, buying can be lumpy due to inventory builds or exhaustion. That’s
Domestic gold and silver prices declined on Friday amid a rise in the dollar and US bond yields. A record high on Dalal Street also dented the safe-haven appeal of bullion. MCX nearby-month futures (June 4) were last seen quoting at Rs 48,380 per 10 grams in early deals in the evening session, Rs 201
Dollar surges in early US session as boosted by stronger than expected inflation readings. Indeed, the core PCE inflation hit the highest level since 1991. With the current buying momentum, the greenback is likely to end the week on a high note, with prospect of closing as the strongest. On the other hand, commodity currencies
Forex news for Asia trading on Friday 28 May 2021 USD/JPY has been relatively stable during the session here after its strong rise Thursday. Highs were just over 109.90. Cable backed off just a touch from its strong Thursday rally, back to circa 1.4185 as I post. EUR and NZD have lost a few tics
SINGAPORE: Oil prices pushed higher on Friday, supported by firm U.S. economic data and expectations of a strong rebound in global fuel demand in the third quarter, while concerns eased about the impact of any return of Iranian supplies. Brent crude futures for July gained 16 cents, 0.2%, to $69.62 a barrel by 0050 GMT
Overall markets are mixed for now, except the clear strength in New Zealand Dollar this week. While Aussie is also trading higher against others, it’s lagging Kiwi by a mile. Dollar recovered overnight but once again lost momentum quickly. Canadian Dollar has also found some footing after yesterday’s pull back. In other markets, Asia markets
Some of the details US Senate Republicans have offered a $928B infrastructure plan that includes $506B for roads, bridges and major projects. Democrats have said their floor is $1.7 trillion and this proposal taps into unspent stimulus money. I don’t see a way forward here but if there is a bipartisan deal, I expect it
NEW DELHI: Gold declined by Rs 319 to Rs 48,223 per 10 gram in the national capital on Thursday amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal closed at Rs 48,542 per 10 gram. Silver also went lower by Rs 1,287 to Rs 70,637 per kilogram from Rs 71,924
Sterling jumps broadly today as a BoE officials indicated that rate hike could come next year. UK Prime Minister Boris Johnson also said there is nothing in data that suggests a delay to reopening on June 21, even though some more time is needed to assess the situation. Nevertheless, Canadian Dollar is even stronger for
Forex news for Asia trading on Thursday 27 May 2021 The New Zealand dollar was the mover today, albeit not by much. NZD/USD slid during the early part of the session into and throughout testimony from Reserve Bank of New Zealand Governor Orr to a committee in parliament. Orr did not really add much to
NEW DELHI: Soybean prices on Wednesday fell by Rs 48 to Rs 7,162 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for June delivery fell Rs 48, or 0.61 per cent, to Rs 7,162 per quintal with an open
While Kiwi and Aussie remain the strongest ones for today, Dollar is striking back as markets enter into US session. On the other hand, Canadian Dollar is now the selling focus. Euro and Swiss Franc also turn weaker. Overall markets are mixed though, with European indexes trading water while US futures advance. Gold is maintain