Yen and Swiss Franc are trading stronger together with Dollar today, as stock markets are pulling back slightly. On the other hand, New Zealand Dollar is leading other commodity currencies lower. US President-elect Joe Biden’s new spending package was generally ignored by investors. Instead, worse than expected US data is weighing sentiments down slightly. For
News
Goldman Sachs says more fiscal measures are coming in the US, but arguably not as much as what Biden had touted earlier In case you missed it, US president-elect, Joe Biden, outlined a $1.9 trillion proposal earlier in the day with the details can be found here. An excerpt from Goldman Sachs: For bank trade
NEW DELHI: Gold and silver futures prices in the domestic market continued to slide in the morning trade as the slide continued for the second day on Friday as India readied itself to vaccinate 30 crore citizens from January 16, lifting appetite for riskier assets. Meanwhile, US President-elect Joe Biden unveiled a $1.9 trillion stimulus
The forex markets are generally staying in tight range in Asian session today. Dollar is mildly higher even though Fed chair Jerome Powell further talked down stimulus removal. Yen is also strengthening while commodity currencies turn slightly softer. For the week, Sterling remains the strongest one, followed by Canadian. Euro is the worst performing. Selloff
Dollar modestly stronger The US dollar is firmer after a weak jobless claims number. The market reaction to that surprising print has been disjointed. Bond yields are falling now on the prospects for more easing, or the Fed running QE for longer. That’s probably an overreaction to one data point that’s likely skewed by holidays.
Oil prices dipped on Thursday as bullish signals from Chinese import data and U.S. crude oil stocks draws were outweighed by surging coronavirus cases in Europe and new lockdowns in China. Brent crude oil futures fell 42 cents to $55.64 a barrel by 1318 GMT, while U.S. West Texas Intermediate (WTI) dropped 29 cents to
Euro’s broad based decline continues today, dragging down the Swiss Franc, and to a lesser extent Sterling too. Italy bench yield jumps sharply on increasing risk of fresh elections in the summer. On the other hand, commodity currencies continue to be strong, as supported by overall solid risk sentiments. Global equities are clearly just taking
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
Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday. “Producers are grappling with huge uncertainty about where this goes from here,” said Tim Gould, head of energy supply outlooks and
Sterling strength continues today, in the otherwise mixed markets. UK Prime Minister Boris Johnson told the parliament that restrictions measures are already “starting to have an effect in many parts of the country”. Canadian Dollar is following as second strongest for today, lifted slightly by upside acceleration in oil prices. Dollar, as the third strongest,
A slow and steady start in Europe for now The market is keeping steadier after a mixed start to the new week, with the dollar holding its ground and trading a touch higher to start the session. That said, the moves are nothing that stands out all too much as we also observe more tepid
Gold prices fell Rs 108 to Rs 48,877 per 10 gram in the national capital on Wednesday as rupee appreciation capped upside in the price of the precious metal, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 48,985 per 10 gram. However, silver prices rose Rs 144 to
Similar to Australian dollar, Canadian dollar this year should continue to benefit from broad-based USD weakness, global recovery, and rebound in commodity, in particular crude oil, prices. However, with the US as its largest trading partner, BOC should track the Fed’s monetary policy closely, and avoid excessive appreciation of CAD against USD. This could limit
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 eased on Tuesday in choppy trading that had earlier seen it climb as much as 1%, as a firm dollar and rising U.S. Treasury yields outweighed support from bets on higher inflation as Washington rolls out more stimulus. Spot gold was 0.1% lower at $1,842.21 per ounce at 10:07 a.m. EST (1507 GMT). On
Sterling surges broadly today after BoE Governor criticized that negative interest rates have a lot of issues. Commodity currencies are currently the next strongest, reversing some of this week’s pull back. On the other hand, Dollar is now the weakest one for the day, as the near term recovery lost momentum. Yen and Euro are
Comments by French finance minister, Bruno Le Maire It is still early in the year but the timeline of the anticipated economic rebound (in other words, how vaccine optimism plays out) will be one of the key themes in the months ahead. The early vaccine optimism got a lot of hopes up that things could
MCX Gold February witnessed rebound from the support zones of Rs 48,600-48,700 after last week’s sharp decline. Meanwhile price is trading below the 50 per cent Fibonacci retracement level (49,700) of the recent up move, which could be the key resistance zone for the day. On the downside below Rs 48,900, key support holds near