Dollar surges broadly in early US session in response to much better than expected durable goods order data. Yet, it’s actually still held well below near term resistance level to confirm bottoming. Gold’s decline is a positive sign for the greenback and we’ll see if there is following buying. Staying in the currency markets, Euro
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Daily thread to exchange ideas and to share your thoughts The euro and pound are mildly weaker as we get the session underway but nothing that really stands out all too much, with the dollar still looking mixed in anticipation of Fed chair Powell’s speech at the Jackson Hole symposium this week. Major currencies are largely keeping
NEW DELHI: Gold and silver edged higher in Wednesday’s early trade amid fears that the fast rising coronavirus cases could disrupt economic recovery but gains were capped by easing tensions between the United States and China that enhanced trade optimism. Top US and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal,
We expect US dollar’s downtrend to resume downtrend in coming months after consolidation. Fiscal stalemate suggests that the Fed would shoulder more burdens in delivering stimulus. This should lead yields to decline further, supporting weakness in the greenback. Stalled Hopes on Fiscal Stimulus – advertisement – Failure to strike a deal on a new fiscal
Results of the $50 billion US 2-year note sale $50 billion is a record size for a two year auction 2.78 bid-to-cover vs 2.34 prior Directs 13.7% vs 14.8% prior Indirects 57.6% vs 45.8% prior The bid was a tad stronger than expected. It’s insane how eager the market is to lend the US Treasury
MUMBAI: The National Commodity and Derivatives Exchange(NCDEX) on Tuesday said it will relaunch futures contract of natural whitish sesame seeds (til) on Wednesday. The til futures contract would be made available for trading from August 26, with Unjha (Gujarat) as the basis centre and Rajkot (Gujarat) as the additional delivery centre, adding one more product
European majors, as well as stock indices, are boosted by better than expected Germany business sentiments, as well as small than expected Q2 GDP contraction. There were talks that investors welcomed the US-China trade phone calls. But judging from the decline in China and Hong Kong stocks, that might not be the reason. Meanwhile, commodity
The Apple vs Epic battle rages on An early judge ruling sees Apple spared from having to reinstate Epic Games’ Fortnite game on its App Store, but the overall ruling was a bit more mixed with a temporary order granted to block Apple from limiting the game developer’s ability to provide key graphics technology to
NEW DELHI: Gold and silver prices edged higher in early trade on Tuesday amid fast rising coronavirus cases but gains were capped on weak global cues and rising risk sentiments in the equity markets. Investors now await US Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole on Thursday for clarity on the direction of
Coronavirus vaccine optimism sent US stocks to record high overnight but the positive sentiments are not carried forward to Asia. The forex markets are also treading water, with major pairs and crosses stuck inside last week’s range. US and Canadian Dollars are the relatively weaker ones while European majors are firm. But there is not
A look at EUR/GBP MUFG Research flags a scope for EUR/GBP correction to the downside over the coming weeks. “The pound is deriving support from improving cyclical UK momentum. The UK is still benefitting from the lagged re-opening of the economy which trailed other major European economies. While the euro-zone PMIs fell back sharply in August,
By Swansy AfonsoMulti Commodity Exchange of India Ltd. plans to launch a slew of index-based futures to widen its offerings to local investors, after starting a bullion index. The Kotak Mahindra Bank Ltd.-backed exchange, the nation’s biggest venue for commodities, began a cash-settled bullion index futures on Monday and plans to start a similar product
Global markets surge broadly today on more optimism on coronavirus treatment. S&P 500 and NASDAQ are both set to extend recent record runs. Yen and Dollar are back under some selling pressure, but New Zealand Dollar is not far away. On the other hand, Australian Dollar is currently the strongest, followed by Swiss Franc and
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: Gold and silver saw profit booking in early trade on Monday as investors waited for further triggers and a speech by US Fed chair Jeremy Powell that may give a clue on monetary policy going ahead. Meanwhile, coronavirus treatment hopes also lifted risk sentiments. The U.S. Food & Drug Administration on Sunday said
The FOMC minutes for the July meeting revealed that the members remained concerned about the outlook of economic recovery. They had discussed a number of tools for further easing, including forward guidance, asset purchases, and yield curve targets. Meanwhile, the members again stressed that fiscal support is particularly important in supporting businesses and families amidst
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: Domestic cotton prices have increased about 5% in the past one week and may remain firm as buying by spinning mills and overseas firms has picked up, traders said. “The domestic demand of cotton has seen an increase with most of the spinning mills now running at 80% capacity. We anticipate the domestic