Prices of rubber, an industrial commodity, jumped on Tuesday to the highest level in nearly a month amid supply shortage, adding to a rebound that began last week as firm demand along with positive cues in the international market boosted sentiments of market participants. rubber futures due for delivery on May 31 traded 1.52 per
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Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed by Sterling. Technically, we’d maintain the
Latest data released by Markit – 4 May 2021 Little change to the initial estimate as the reading comes in near a record-high, highest in nearly 27 years. Production and new orders strengthened but supply chain disruptions continue to present a more complicated backdrop, leading to rising input costs. Markit notes that: Invest in yourself.
NEW DELHI: Gold and silver futures prices dropped lower up on Tuesday, as a stronger dollar and optimistic comments from US Federal Reserve Chairman Jerome Powell on the economy weighed on the metal’s safe-haven appeal. The dollar index was up 0.1 per cent against its rivals, making gold more expensive for other currency holders. The
The RBA left all monetary policy measures unchanged in May and reiterated that a rate hike would “unlikely to be until 2024 at the earliest”. However, the central bank upgraded economic projections and signaled that some amendments would be made on yield curve control (YCC) and QE in July. Economic Assessments The RBA acknowledged the
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Gold prices jumped more than 1% on Monday, with the rally spilling over into other precious metals as well, driven by a retreat in the and US Treasury yields. Spot gold was up 1.4% at $1,792.41 per ounce by 12:13 p.m. EDT (1613 GMT), after hitting its highest since April 22 at $1,797.75. US gold
Markets seem to be back in mild risk on mode in Europe, shrugging off the selloff in Asia. US futures also point to higher open, as the record run could resume this week. The currency markets are relatively mixed. Yen is stabilizing into US session after earlier selloff. Dollar is also weakening mildly for the
European Commission announces with the proposal The EU is proposing member states to ease non-essential travel restrictions into the region by taking into account progress of vaccination campaigns and developments abroad, notably allowing for persons residing in a country with a “good epidemiological situation” to enter and also those who have received the final dose
NEW DELHI: Gold and silver futures prices ticked up on Monday, supported by a muted dollar ahead of the release of a series of US data and the deepening of the coronavirus pandemic in India. The dollar index was down 0.1 per cent against its rivals, making gold less expensive for other currency holders. Meanwhile,
The forex markets are relatively quiet in Asia, with Japan and China on holiday. Main theme is extended selloff in the Japanese Yen despite steep decline in Hong Kong and Singapore stocks. Aussie and Kiwi are the mildly firmer ones while Swiss Franc is softer. Also, a major talking point is the strong rises in
A research note from JP Morgan shows the level of comfort in US stocks: Individual investors are holding more stocks than ever before Stockholdings among U.S. households increased to 41% of their total financial assets in April (highest level on record, from data going back to 1952) WSJ goes on: The enthusiasm for stocks comes
NEW DELHI: Copper futures on Friday slipped 0.28 per cent to Rs 754.80 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for May delivery eased by Rs 2.15, or 0.28 per cent, to Rs 754.80 per kg in a business turnover of
New Zealand dollar and euro trade ideas from Bank of America Bank of America Global Research expects a USD rally in the coming month and expresses this view via going short NZD/USD in spot and short EUR/USD via options. “Taking the dovish Fed as a given for now, we may still see some USD strength
Bank of England, Governor Andrew Bailey, 0.10%, Meets May 06 Prior to the latest BoE meeting on March 18 there was a tail risk of a rate hike coming into the markets. The GBP has been strongly supported over the last few weeks and the last meeting continues to provide reason for optimism regarding GBP
NEW YORK: Oil prices fell from six-week highs on Friday as investors unloaded positions after weak Japanese crude import data and on worries about fuel demand in India, where COVID-19 infections have soared. US crude and global benchmark Brent logged their biggest daily drops in more than three weeks, but saw monthly gains of near
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -1.63 mmb to 1285.52 mmb in the week ended April 23. Crude oil inventory climbed higher, by +0.09 mmb (consensus: +0.66 mmb) to 493.11 mmb. Stockpile increased in 4 out of 5 PADDs, but
This trade has been at the top of the charts all year The failure of the Canadian dollar to launch immediately after the Bank of Canada decision last week was puzzling but the market got the memo (telegram?) this week. A strong retail sales report helped to cement the momentum in the Canadian economy and