Asian markets closed in deep red earlier today while European stocks dived in initial trading. Yet, the markets were saved by much stronger than expected PMI data out of Eurozone and UK. Overall sentiments recovered notably, with US futures pointing to a rebound at open. In the currency markets, Canadian Dollar, Dollar and Aussie are
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Markit PMIs coming up Someone’s durable goods orders will be delayed with this ship blocking traffic in both directions in the Suez canal. The latest report says it will be dislodged today or tomorrow. Given that timeline, it won’t have a noticeable effect on global commerce but it certainly highlights the importance of the Suez
NEW DELHI: Gold dipped by Rs 149 to Rs 44,350 per 10 gram in the national capital on Wednesday, reflecting overnight fall in global precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 44,499 per 10 gram. Silver also declined Rs 866 to Rs 64,607 per kg, from
Crude oil prices have extended the selloff for a third consecutive week. While the demand/supply fundamentals have changed little, the major reason for the decline is the broadly-based risk aversion driven by rising yields. International Energy Agency (IEA)’s report refuting prospect of a commodity supercycle has also triggered the profit-taking selloff. Rising Yield Environment Hurts
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 a firmer dollar outweighed a dip in U.S Treasury yields, ahead of testimony from Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen. Spot gold fell 0.7% to $1,727.46 per ounce by 11:31 A.M EDT (1531 GMT). U.S. gold futures fell 0.7% to $1,725.90 per ounce. “We
Yen buying accelerates today as selloff in commodity currencies intensified. New Zealand Dollar is trading as the worst, by some distance, followed by Aussie. Canadian Dollar is dragged down by decline in oil prices, while Sterling is also pressured after poor job data. On the other hand, Dollar is following Yen as the second strongest,
FX outpaces most of everything else that is happening in the market Invest in yourself. See our forex education hub. When you look at the antipodeans being down by 1.1% (AUD) and 1.8% (NZD) on the day, with the dollar and yen leading the charge, it is easy to point towards the market being skewed
NEW DELHI: Refined soya oil prices on Tuesday fell by Rs 7.4 to Rs 1,292 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in the spot market. On the National Commodity and Derivatives Exchange, refined soya oil for delivery in April declined by Rs 7.4, or 0.57 per cent, to
Commodity currencies are generally weak in Asian session, together with Sterling. Stocks in Hong Kong and China are reacting negatively to joint sanctions by EU, UK, Canada and US over China’s genocidal treatments of Uyghurs in the Xinjiang region. EU’s action is seen as significant turning point in the relations with China, as it’s the
Forex news for North American trading on March 22, 2021. In other markets as NY session comes to a close: Spot gold is trading down $6.06 or -0.35% at $1739.11 Spot silver is trading down $0.48 or -1.85% at $25.75 WTI crude oil futures for May delivery are trading down $0.14 or -0.23% at $61.30 Bitcoin is
Gold slipped 1% on Monday, with a lull in the ‘s rally offering little respite as US equities gained and US Treasury yields remained near a one-year peak. Spot gold had fallen 0.4% to $1,737.16 per ounce by 10:49 A.M EDT (1449 GMT). US gold futures fell 0.4% to $1,735.10. “Gold should be higher yet
The financial markets are generally mixed with subdued trading today. Nikkei did had a bad day, but the selloff didn’t spread to other markets. European indices and US futures are mixed while Germany and US benchmark yields are mildly lower. As for currencies, Aussie and Sterling are currently the softer ones, followed by Dollar. Swiss
Barclays revises lower its 2022 Eurozone GDP growth forecast Amid recent developments, the firm is less confident about the strength of the recovery in the euro area as they revise lower their 2022 growth projections for the region from 5.3% previously to 4.3% currently. The 2021 GDP growth forecast remains unchanged at 3.9%. Barclays notes
NEW DELHI: Gold and silver futures fell on Monday as Turkey replaced its central bank governor with a high interest rate critic led to investors flocking towards the safety of the dollar, on fears that the move would threaten other financial markets. President Tayyip Erdogan, on Saturday, unexpectedly fired Turkey’s central bank chief, Naci Agbal,
Nikkei trades sharply lower today as selloff continues after BoJ decide to exclude Nikkei-linked ETF from its purchases. Though, Topix is also trading down deeply. The Japanese markets are weighed down by news that a fire-damaged automotive semiconductor plant is going to take at least a month to restart. Outlook Japan, markets are generally rather
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 DELHI: Copper futures on Friday slipped 1.79 per cent to Rs 663 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for March delivery eased by Rs 12.05, or 1.79 per cent, to Rs 663 per kg in a business turnover of