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With Europe having to play catch up to the washout in Wall Street yesterday, US futures are finding some relief at least but the question seems to be how long can it last? The snapshot of the performance of US stocks yesterday was abysmal to say the least with the S&P 500 closing down 4.3%,

Crude oil prices have been in a downward spiral for the last three months in a row and hit an eight-month low last week. Prices have erased the entire geopolitical risk premium and are back at the levels when Russia first attacked Ukraine in February 2022. Crude prices cruised as high as $139 a barrel

Dollar surged overnight, partly as traders added bet of another aggressive rate hike by Fed next week, and partly on deep risk aversion. Though, there is no follow through buying in Asia, as the greenback is now consolidating gains. On the other hand, Yen appears to be talked up by Japanese officials, and reports that

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 your initial investment; do not

Gold price in the national capital declined by Rs 314 to Rs 50,905 per 10 grams on Tuesday amid rupee appreciation, according to HDFC Securities. The price of the yellow metal touched Rs 51,219 per 10 grams on Monday. However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared

Dollar rebounds strongly in early US session after stronger than expected consumer inflation reading. 10-year yield jumps sharply and breaks above 3.4% handle DOW futures are down over -300 pts at the time of writing. The case for a 75bps hike by Fed is pretty much sealed. The question is whether markets will bet on

On their latest call, BofA says that “by lowering peak inflation we see the govenment’s energy price cap allowing the BOE to avoid increasing the pace of hikes. But more fiscal stimulus means the BOE will have to hike more overall”. Adding that they expect a 0.50% rate hike next week and in the next

Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path. FUNDAMENTALS * Spot gold rose 0.1% to $1,725.70 per ounce, as of 0041 GMT. * U.S. gold

Dollar and Yen are staying as the weakest ones for the week as focus turns to US inflation data. European majors are the strongest ones so far, even though Euro’s rise is losing some momentum. Commodity currencies are mixed for now, despite improving risk sentiment. Technically, EUR/JPY’s rally is slowing ahead of 61.8% projection of

Markets Gold up $8 to $1724 WTI crude oil up $1.17 to $87.96 US 10-year yields up 3.5 bps to 3.35% S&P 500 up 43 points, or 1.05%, to 4110 GBP and EUR lead, JPY lags FX price action was uninspiring on Monday and that’s not a big surprise given the total lack of economic

Gold prices ticked higher on Monday as the dollar hovered near recent lows, with investors’ focus being on a key U.S. inflation reading as it could influence the size of the Federal Reserve’s next interest-rate hike. FUNDAMENTALS * Spot gold rose 0.1% to $1,717.17 per ounce, as of 0057 GMT. * U.S. gold futures were

Euro leads Sterling and Swiss Franc higher today, and stays firm so far. The common currency was apparently lifted by hawkish comments from ECB official over the weekend. Sterling shrugs off slightly worse than expected GDP and production data. Dollar and Yen are currently the weakest ones. Commodity currencies are mixed for now, with Canadian

The pair is up 0.9% on the day to near 1.1700 currently as the bounce from key support at the March 2020 lows near 1.1400 continues to extend. The initial bounce stalled around the 23.6 Fib retracement level at 1.1610 but we are running above that now with the 38.2 Fib retracement level next seen

NEW DELHI: Gold prices dropped on Monday despite weakness in the US dollar as traders weighed the impact of possible interest rate hikes by the US Federal Reserve later this month to combat the rising inflation. The Fed officials on Friday ended their public comment period ahead of the US central bank’s September 20-21 policy

Markets are generally steady in Asian session today. European majors are firming up slightly but there is no clear follow through buying so far. On the other hand, Yen is losing ground while commodity currencies are also soft. Dollar is mixed in the middle. Focuses are back to economic data this week, with particular attention

Washington Post (gated) with the report: White House officials have grown increasingly alarmed in recent days about Europe’s energy crisis While publicly adamant Putin is bluffing, WH aides privately acknowledge Russia could retaliate to price cap by sending energy prices soaring —- It’s a long piece, but, in very brief: Seeking to punish Russia for

Energy markets are not short of geopolitics these days. The petro-nations’ decision to cut output quotas next month might ultimately have a limited supply impact but sends a clear message. Similarly, the West’s idea of an oil price cap will face strong implementation difficulties but adds to the confrontation. Geopolitics look set to inject noise

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 your initial investment; do not