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Copper prices on Friday increased by 0.51 per cent to Rs 626 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in July traded higher by Rs 3.15 or 0.51 per cent at Rs 626 per kg in a business turnover of

Dollar ended as the worst performing one last week. Selloff somewhat intensified on Friday after poor PMIs indicated that the US economy was already in contraction. Deep fall in benchmark treasury yields dragged down the greenback while traders were betting on a lower terminal rate in Fed’s tightening cycle. Canadian Dollar was the second weakest,

Markets: Gold up $5 to $1723 US 10-year yields down 15 bps to 2.75% WTI crude down $1.69 to $94.69 S&P 500 down 1.0% JPY leads, CAD lags The bond market is signaling less fear about inflation and more about growth. Yields continue to fall dramatically in a sign that bonds have seen enough hiking

New Delhi: Gold prices, while extending weakness, breached the Rs 50,000 mark on Thursday. This happened after over a year as the yellow metal slumped to 16-month lows. The rising interest rates over the inflationary worries and the dollar flexing its muscles have hit the bullion hard, which yields nothing on its own. The yellow

Yen surges broadly today, together with Swiss Franc, following resumed decline in benchmark yields in US and Germany. Euro is sold off broadly, as the ECB lift faded, and as pressured by poor PMI data. Sterling is following as the second worst. Dollar is also weak on yields. For the week, Dollar is still the

Prior 54.3 Manufacturing PMI 52.2 vs 52.0 expected Prior 52.8 Composite PMI 52.8 vs 52.5 expected Prior 53.7 The readings are slightly better than estimated but they are still weaker compared to June, reaffirming a further slowdown in the UK economy. The services and composite readings are at 17-month lows while the manufacturing reading is

New Delhi: Gold in the national capital on Friday jumped by Rs 594 to Rs 50,341 per 10 grams, reflecting a rally in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 49,747 per 10 grams. Silver also surged by Rs 998 to Rs 55,164 per kg

The lift from ECB rate hike to Euro was rather brief yesterday. The common currency remains range bound again most currencies and turns slightly softer today. Dollar, on the other hand, is regaining some ground with Canadian and Swiss Franc. Overall, the greenback is still the weakest one for the week, followed by Yen. Aussie

The ECB hiked by a higher than expected 50 basis points which helped to temporarily propel the EUR to the top of the league table of the strongest to weakest of the major currencies. However, momentum could be sustained. ECBs Lagarde said that although the rate rise was a greater than expected 50 basis points,

Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles and an ECB rate hike stoked demand worries and returning oil supply from Libya eased supply concerns. Brent crude futures lost $3.88, or 3.6%, to $103.04 a barrel by 1224 GMT after slipping 0.4% in the previous session. U.S. West Texas

Euro rises broadly after ECB raising interest rate by 50bps, and front-loads the exit from negative deposit rate. The central bank also maintains tightening bias. Swiss Franc is taken up by Euro too. Meanwhile, New Zealand Dollar is the worst performing one for today, together with Canadian and Yen. Dollar is mixed for now, and

In just two days, oil has pretty much erased its recent recovery as we see another $4 drop today to below $96 currently: Large doses of volatility have not been foreign to oil since the Russia-Ukraine conflict but there has been a bit of a habit of heavy selling in the past few weeks. Today

NEW DELHI: Gold prices tumbled on Thursday, to hit nearly their lowest in a year ahead of rake hike prospects by major central banks. The European Central Bank is set to raise interest rates for the first time in 11 years on Thursday, with a bigger-than-expected move seen as increasingly likely as policymakers fear losing

The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday’s range. BoJ’s decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed, or a bolder 50bps hike. As

This from Citi is via the folks at eFX. For bank trade ideas, check out eFX Plus . Citi discusses the EUR outlook and maintains a bearish bias and a sell-on-rallies bias. “CitiFX Strategy remains overall bearish EUR in light of Eurozone headwinds and broader Dollar strength. In the very short-term, however, should PM Draghi

Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to Securities. In the previous trade, the precious metal finished at Rs 50,182 per 10 grams. Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. “Spot gold

Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for the week so far, as it’s

It is shaping up to be one of those sessions as markets are not getting up to much, with all eyes slowly moving towards key central bank meetings in the week ahead. We’ll have the BOJ and ECB tomorrow before we get to the Fed on Wednesday next week. Major currencies are little changed for