Euro finally breaks through 1.2 handle against Dollar, as the greenback’s selloff resumes today and accelerates broadly. Nevertheless, Euro is overwhelmed by others, in particular Sterling, which is the strongest for now, followed by Swiss Franc. Commodity currencies are somewhat lagging behind too, partly as they’re facing some pressure against Yen. Overall, the Dollar bearish
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TOKYO: Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude. Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel by 0139 GMT, after rising 6%
We expect the BOC to trim its asset purchases to CAD3B/week, from CAD4B/week previously. The reduction is likely driven by lower issuance by the Treasury. It will, however, leave the overnight rate at the effective lower bound of 0.25%. We also expect the central bank to upgrade the economic projections. With slacks being absorbed earlier
Goldman Sachs sees upside for the euro The euro spent the latter part of the week flirting with 1.2000 but unable to break above. Analysts at Goldman Sachs believe that it’s only a matter of time until it breaks through and runs to 1.2500. They’ve raised their three-month EUR/USD target to that level from 1.2100.
NEW DELHI: Gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 22.58 per cent to USD 34.6 billion (about Rs 2.54 lakh crore) during 2020-21 due to increased domestic demand, according to the Commerce Ministry data. Silver imports during the last fiscal, however, dipped by 71 per cent to
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
In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plummeted -9.05 mmb to 1283.58 mmb in the week ended April 9. Crude oil inventory slumped -5.89 mmb (consensus: -2.89 mmb) to 492.42 mmb. Stockpile decreased in 3 out of 5 PADDs. PADD 3 (Gulf
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
NEW YORK: Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies. Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel. The global benchmark
Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it’s unsure whether it’s ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle with some conviction, while Dollar index
Forex news for North American trade on April 16, 2021: Markets: Gold up $11 to $1775 US 10-year yield up 1 bps to 1.58% WTI crude oil down 34-cents to $63.12 S&P 500 up 17 points to record 4188 GBP leads, NZD lags The impressive reversal in cable on Friday was the main event in
Gold prices rose to a seven-week high on Friday and were on track for their best week since mid-December as retreating US Treasury yields and a softer dollar bolstered the metal’s appeal. Spot gold jumped 0.9% to $1,779.00 per ounce by 10:26 a.m. EDT (1426 GMT), having earlier hit its highest since Feb. 25 at
Sharp decline in US treasury yields overnight boosted DOW and S&P 500 to new record highs. Positive sentiments also somewhat carried on in Asian session today, as supported by solid data from China. The forex markets are quiets, however. Dollar is recovering some of this week’s losses, but remains the second worst performing, next to
Looking for the break instead of being mesmerized by the non-trend [embedded content] When I was cutting my teeth in trading, I used to get mesmerized by non-trending markets. The ups and downs can lull you to sleep. You can get used to buying low and selling high if you latch onto the idea early
NEW DELHI: Gold prices rose marginally by Rs 9 to Rs 46,431 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,422 per 10 gram. Silver also gained Rs 53 to Rs 67,460 per kg from Rs 67,407 per kg
Dollar edges lower today but there is no follow through selling so far, in quiet markets. Still, the greenback is set to end the week as the worst performer, followed by Canadian and Swiss Franc. Sterling dipped notably earlier today but quickly recovered. Australian and New Zealand Dollar are soft, consolidation this week’s gains, as