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The bond market reaction to CPI offers a clue a theme that’s likely to envelop all markets. US 2-year yields are up 10.7 basis points to 2.92%, breaking the April/May top. That’s a sign of a market that sees a growing likelihood we break the 3% level in Fed funds. In fact, the market is

Dollar rises strongly in early US session after CPI data. Headline inflation reaccelerated with strong rise in energy and food prices From this perspective, there is little scope for Fed to pause tightening in September. It might instead continue its 50bps per meeting plan for longer. The greenback is now the strongest one for the

TOKYO: Oil prices fell on Friday but still hovered near three-month highs, with fears over new COVID-19 lockdown measures in Shanghai outweighing solid demand for fuels in the world’s top consumer United States. Brent crude futures for August was down $1.01, or 0.8%, at $122.06 a barrel as of 0141 GMT after a 0.4% decline

The expectation will be for another 8.3% y/y reading in US consumer inflation today, with the core reading expected to drop a little from +6.2% y/y in April to +5.9% y/y in May. That said, these readings will still be extremely elevated. There’s plenty of talk about peak inflation and what not but once again,

Yen is recovering slightly in Asian session today, digesting recent steep selloff. The climax selling is temporarily past as focuses turn to ECB policy decision today and US CPI tomorrow. Euro is trading mixed for the moment, except versus Yen and Swiss Franc. To be specific, it’s range bound against Dollar, Sterling, Aussie and Canadian.

Gold prices in the national capital on Thursday gained by Rs 133 to Rs 50,907 per 10 grams, supported by rupee depreciation, according to Securities. In the previous trade, the yellow metal settled at Rs 50,774 per 10 grams. Silver also jumped by Rs 273 to Rs 61,535 per kg from Rs 61,262 per kg

The m Germanyajor European indices are all closing lower on the day. The declines are led by the German DAX which is down -1.7% and Italy’s FTSE MIB which is down by a similar amount. A look at the closing levels shows: German DAX, -247.19 points or -1.71% at 14198.81 France’s CAC -90.17 points or

Euro is attempting to rally after ECB surprisingly pre-commit to rate hikes in July and September. Germany 10-year yield also jumps to 1.45% in reaction. Commodity currencies turn slightly weaker on overall sluggish market sentiment. Dollar is mixed for now, and will need some fresh inspiration from tomorrow’s CPI release. Meanwhile, Yen continues to digest

June 9: Gold inched lower on Thursday, with prices restrained by rising Treasury yields ahead of key U.S. jobs and inflation data this week. FUNDAMENTALS * Spot gold was down 0.1% at $1,852.21 per ounce, as of 0052 GMT, while U.S. gold futures also eased 0.1% to $1,853.90. * Benchmark U.S. 10-year Treasury yields firmed

Trade data from China for May. Lockdown restrictions eased back in the month. China trade balance CNY 502.89BN: expected CNY 448.9bn, prior was CNY 325.1bn Exports +15.3% y/y: expected +13.1%, prior was +1.9% Imports +2.8% y/y: expected 2.0%, prior was 0.0% USD terms China trade balance: US$78.76bn expected $58.0bn, prior was $51.1bn Exports: +16.9% y/y

Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with

Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is

One day before the ECB meeting tomorrow, the major European  indices  are closing lower on the day. The ECB is expected to keep rates unchanged as they and the asset purchase program and gear up for the rate launch in July. Traders will be looking for clues on whether the Hawks will be successful in

The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without

Sugar exporters have alleged lack of fairness and haphazard implementation of the government decision to restrict overseas sales to 10 million tonnes in the current season, which runs from October 2021 to September 2022. The May 24 order asked mills to apply online starting June 1 for approval to export sugar. The government subsequently announced

The US day drew to a close with the release of the private survey of oil stocks (inventory), showing a headline build where a draw was expected. The oil price has done relatively little after that data. The official government survey of stocks will be published Wednesday morning, US time. We had very little fresh

Australian Dollar rises broadly after RBA surprised the markets by a larger than expected 50bps rate hike. It’s now overpowering the strong Canadian and US Dollars. On the other hand, Yen’s weakness persists on rising benchmark treasury yields in the US and Europe. Sterling is turning soft after Prime Minister Boris Johnson won the confidence

Gold in the national capital on Tuesday declined by Rs 205 to Rs 50,733 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 50,938 per 10 grams. Silver also dipped Rs 964 to Rs 61,555 per kg from Rs 62,519 per kg in the previous trade. “Spot