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There are two types of emerging markets: Commodity importers and commodity exporters.The first category is headed for trouble. They’re stuck using falling currencies to pay for higher commodity imports and chewing through reserves to defend those currencies as the bills increase for food and fuel. Inflation is high locally and allowing the currency to depreciate

Gold prices on Thursday rose by Rs 402 to Rs 52,297 per 10 grams amid strong global cues, according to Securities. The yellow metal had closed at Rs 51,895 per 10 grams in the previous trade. Silver also rallied Rs 711 to Rs 56,191 per kg from Rs 55,480 per kg in the previous trade.

Dollar is staying soft in consolidation today, as traders are clearly still cautiously waiting for rate clues from Fed Chair Jerome Powell’s Jackson Hole speech tomorrow. Yen is also mixed despite surging benchmark treasury yields. Movements are mainly found in Aussie and Kiwi, on rallies, which are lifted by China’s new stimulus plan. On the

The US dollar lost a little ground during the session here today. Major currencies were higher pretty much across the board. The euro lagged a little. EUR/USD hit highs circa 0.9990, but could not get above its US timezone highs nor trouble parity. News flow was very light indeed. Central bank activity was little better.

Gold prices edged higher on Thursday as the dollar slipped, while investors looked forward to a speech by U.S. Federal Reserve Chair Jerome Powell at the Jackson Hole symposium for clues on interest rate hikes and the health of the economy. FUNDAMENTALS Spot gold was 0.1% higher at $1,753.01 per ounce, as of 0110 GMT.

Dollar’s rally was choked off by terrible PMI data, in particular services, overnight. But the greenback is trying to regain some footing in Asian session. It’s too early to say that the bullish trend in Dollar has reversed. Traders are just holding their bets for now, awaiting more guidance from Fed Chair Jerome Powell at

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 your initial investment; do not

Gold price in the national capital on Wednesday rose Rs 274 to Rs 51,909 per 10 grams amid firm global trends, according to Securities. The yellow metal had closed at Rs 51,635 per 10 grams in the previous trade. Silver also jumped Rs 448 to Rs 55,682 per kg from Rs 55,234 per kg in

Dollar is recovering some ground today but stays below yesterday’s high in general, consolidations continue. Overall trading in subdued with major pairs and crosses suck inside yesterday’s range. Kiwi and Aussie are on the softer side while the greenback and Yen are firmer. European majors are also weak but there is no follow through selling.

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 your initial investment; do not

Oil prices fell on Wednesday, taking a breather from a nearly 4% surge the previous day on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+. Global benchmark Brent crude futures fell 21 cents, or 0.2%, to $100.01 a barrel by 0114

European majors, including the Swiss Franc, are under much selling pressure currently. EUR/USD dived through parity, and hit a new low. The development came on worries that Russia will further weaponize its natural gas supplies to Europe, adding further weight to the already troubled economy. Dollar is strong as supported by rising treasury yield, with

Gold rose by Rs 157 to Rs 51,707 per 10 gram in the national capital on Tuesday amid an increase in international yellow metal prices, according to Securities. In the previous trade, the precious metal settled at Rs 51,550 per 10 gram. Silver also jumped by Rs 364 to Rs 55,662 per kg. In the

Euro’s selloff continues today after poor PMI data and stays as the worst performer for the week. Swiss Franc is also weak for now, together with Sterling. Dollar remains the strongest one, but struggle to extend gains against commodity currencies. In other markets, major European indexes are soft but downside is limited. US futures also

This from ING on: media reports that policy banks in China are going to provide CNY200bn in special loans with funds from the Ministry of Finance and the PBoC. But, says ING: With an estimated 225 million sqm of uncompleted housing, and assuming that the construction cost is CNY3000 per sqm, the total cost required

Oil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures. Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near

The markets are rather steady in Asian session today. With a near empty calendar, trading could remain subdued. Activity, however, might start to increase with the wave of flash PMI data to be released tomorrow. For now, Aussie and Kiwi are trying to recover. But Dollar is staying firm. Euro and Yen are on the

The major US indices are opening up lower on the day. There is a lot of red on the S&P 500 heat map with only a handful in the green (or up). S&P is in the red A snapshot of the markets are showing: Dow is down -403 points or -1.20% at 33294.89 S&P is