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NEW DELHI: Copper prices on Wednesday traded up by 0.41 per cent at Rs 748.30 per kg in the futures market on the back of a pickup in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 3.05, or 0.41 per cent, at Rs 748.30 per
Following a weak first quarter, the strength in EURUSD has gathered momentum. The pair is the second strongest among majors quarter-to-date. A more upbeat economic outlook, heightened inflation forecasts and expectations of ECB’s tapering are key driving forces of the recent rally. Indicators Pointing to Stronger 2Q21 Leading indicators have pointed to an upbeat 2Q21.
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
HANOI/BEIJING: Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. “We’re not a huge believer in a super-cycle now. You’ve started to see some central bank starting to taper bond buying and if they are not tapering, they’ve started
The forex markets are staying in mixed consolidative mode in Asian session. Australian Dollar trades mildly higher following strong, record making, export data. But that’s offset by Melbourne’s return to pandemic restriction, on masks and gatherings. Dollar turns weaker as Asian stocks rebound, together with Yen and Canadian. European majors are generally firm. Technically, focus
Conference board consumer confidence for May 2021 conference Board consumer confidence for May 8, 2021 came in at 117.2 versus 119.0 estimate. That is down from 121.7 last month. Present situation 144.3 versus a revised 131.9 last month. It was previously reported at 139.6 expectations 99.1 versus 107.9 last month (previously reported 109.8). Lynn Franco,
Domestic gold and silver prices registered mild losses on Tuesday amid steadily declining Covid-19 infections in the country, though an easing dollar ahead of key US data limited the downside. MCX gold futures for June 4 delivery struggled below the flatline for most of the morning session and were last seen quoting down by Rs
Euro surges broadly today, while German DAX and Stoxx 600 hit new record highs. Strong German business climate reading gave sentiments a strong lift. For now the common currency is only out-performed by New Zealand Dollar, and followed by Swiss Franc. On the other hand, positive market sentiment makes Yen the weakest one, followed by
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
Gold prices edged lower on Tuesday as hopes of quick economic recovery lifted demand for riskier assets, although a weaker dollar and lower U.S. Treasury yields limited losses for the safe-haven metal. FUNDAMENTALS * Spot gold was down 0.2% at $1,877.26 per ounce by 0106 GMT. * U.S. gold futures fell 0.3% to $1,879 per
The forex markets are rather quiet in Asian session today. With some European markets and Canada on holiday, trading will likely remain subdued for the day ahead. Yen is trading mildly firmer, as near term consolidations are extending. Meanwhile, Australian Dollar and Canadian Dollar are the slightly softer ones. Technically, Canadian Dollar might be a
Chicago Fed national activity index for April 2021 Chicago Fed national activity index for April 2021 0.24 versus 1.0% estimate. The index fell from 1.71 in March. 3 of the 4 broad categories of indicators used to construct the index made positive contributions in April. However, three categories deteriorated from March The three month moving average decreased to 0.07
Domestic gold and silver prices registered mild gains on Monday as the global yellow metal benchmark consolidated near a four-and-a-half-month high. Weakness in the dollar ahead of key macro data supported precious metal prices. MCX gold futures for June 4 delivery traded stayed positive through the morning session and were last seen quoting up 0.35
By Ravindra Rao Crude oil started on a firm note last week, continuing a trend witnessed in the previous week, but succumbed to profit taking followed by a sharp rebound on Friday. A spate of negative factors pulled crude oil from March highs. These included the prospect of higher supply from Iran as world leaders
Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
Economic data released since the last meeting have continued to improve. We expect the RBNZ to upgrade economic assessments at the upcoming meeting, acknowledging recent positive developments. Yet, policymakers would continue to attribute the spike in inflation to temporary factors. All monetary policy measures will remain intact. The job market has continued to improve. The
NEW DELHI: Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran. India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some