Dollar is back in selloff mode in early US session after slightly worse than expected jobless claims numbers. Though, at the time of writing, Yen underperforms mildly. On the other hand, buying focus is back on commodity currencies today. Australian Dollar is leading others higher. European majors are generally mixed. European indices are mixed for
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Lockdown in Germany has been extended to 7 March The daily case count is the highest in five days but it is on the lower side when compared to the December and January figures by quite a stretch. This continues to point to further moderation in the virus situation in Germany, with active cases falling
NEW DELHI: Gold and silver futures prices declined on Thursday tracking international prices as a weaker than expected rise in inflation put pressure on prices. Improving economic conditions also led to diversion of funds. US consumer prices rose moderately in January as higher gasoline prices were blunted by a slump in airline fares amid a
The forex markets are rather quite in Asia today, following subdued trading elsewhere. Dollar’s decline is slowing but it remains the worst performing major currency so far, followed by commodity currencies. Sterling and Yen are the stronger ones this week, as both are supported by rallies in respective treasury yields. Though, Swiss Franc is surprisingly
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 rose on Wednesday, extending its rally for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will drive a recovery in demand. US crude inventories fell unexpectedly in the week, dropping 6.6 million barrels according to the Energy Information Administration, compared with
Dollar’s selloff continues in early US session and it’s extending after weaker than expected core CPI reading. Sterling is lifted by strength in UK yield today, with 10-year Gilt yield hitting as high as 0.494 so far. It could try to take on a pre-pandemic floor of around 0.50%. Currency markets are relatively mixed elsewhere,
The death count is still a little worrying but cases continue to level off below 10,000 so that is some good news This is the fourth consecutive day that new cases is seen below 10,000 – the first time since October last year – so that is somewhat encouraging. Total active cases across the country
NEW DELHI: Gold and silver futures prices continued to gain on Wednesday as the path for the US stimulus package became clearer while the US dollar also fell to one week low. US President Joe Biden said he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus payments to higher-income
Dollar stays broadly weak in Asian session today even though general sentiments stabilizes. Risk-seeking trading is taking a breather somewhat after US stocks hit new intraday higher overnight. Euro is currently the stronger one for today, followed by Sterling. But Swiss Franc and Yen are currently the best performing ones for the week so far.
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
SINGAPORE: Oil prices advanced on Tuesday to their highest in 13 months, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets. Brent crude futures for April gained 50 cents, or 0.8%, to $61.06 a barrel by 0721 GMT. U.S. West Texas Intermediate crude (WTI) for March was
While silver’s retreat from the 8-year high suggests that the media-inspired short squeeze has failed and further correction is likely, the metal should benefit from the global economic recovery and the new US fiscal stimulus package in the longer-term. Although both are in the precious metal category, silver will be a better play than gold
Forex news for Asia-Pacific trading on February 8, 2021: Markets: Bitcoin touches $47,550 Gold up $11 to $1842 US 10-year yields down 1.4 bps to 1.156% Nikkei up 0.1% Brent up 47-cents to $61.03 NZD leads, USD lags Tesla’s decision to put $1.5B into bitcoin has set off a new speculative frenzy and a one-way
NEW DELHI: Gold and silver futures prices took a break from sliding and gained on Tuesday on increasing hopes of coronavirus aid supported by international prices. The main driver for gold is the confidence around US President Joe Biden’s relief bill and the expectation of a further weakening of the US dollar which will come
Dollar’s selloff finally took off overnight as US stocks were boosted further to new record highs on reflation trade and vaccine optimism. Selling is really broad based this time, as the greenback tumbled even against Yen and Swiss Franc. For now, New Zealand and Australian Dollars are the strongest ones but Canadian Dollar is lagging
Russell 2000 index also marching higher at an increasing pace and also at a record level the major stock indices (and small Russell 2000 index) are all opening and making record highs. A snapshot of the market currently shows: S&P index up 18.6 points or 0.48% at 3905.62. The new all time high price reached 3906.47 so
By Julian LeeThe OPEC+ alliance of oil producers will face a big test of its cohesion in a few weeks’ time, when ministers meet to discuss the next step in their historic production deal aimed at rebalancing the world’s oil supply with recovering demand. Things have almost moved too quickly in their favor. Recent increases