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NEW DELHI: Gold prices dropped sharply on Wednesday following a rise in US treasury yields and cautiously positive comments from US Fed Chair Jerome Powell. However, the dollar index dropped to two-week lows, pushing up the appeal for the yellow metal. Investors trimmed bets on whether US interest rate hikes will drive further dollar gains.

Oil is up over 1% on the day again as price looks to try and inch towards testing the $115 mark once more this week. The break higher on Monday sees a technical push above trendline resistance from the late March to early May highs but we are now running into some resistance around the

The forex markets are engaging in sideway trading in very tight range in Asian session. Dollar and Yen remain the weaker ones for the week. But so far, there is not following selling to push them through near term support level yet. Overall risk sentiment is crucial in determining the next move. While US stocks

Gold prices on Monday rose above the more-than-three-month low level hit in the previous session, as a weaker dollar outweighed pressure from higher U.S. Treasury yields. FUNDAMENTALS * Spot gold was up 0.3% at $1,815.69 per ounce, as of 0057 GMT. U.S. gold futures gained 0.2% to $1,812.20. * Gold fell more than 1% on

Due at 0130 GMT today are home price data from China for April: This snapshot from the ForexLive economic data calendar, access it here. The time in the left-most column is GMT. The numbers in the right-most column are the ‘prior’ (previous month) result. A couple of snippets from analysts about the place on China’s

Yen and Dollar falls broadly today as risk-on sentiment is gaining steam. European majors are making a strong come back too. Sterling is boosted by upbeat job market data. Euro is also lifted after a ECB policymaker threw out the idea of a 50bps rate hike. Commodity currencies are mixed for the moment, slightly on

Mumbai: The price for premature redemption of sovereign gold bond (SGB) due on Tuesday has been fixed at Rs 5,115 per unit, an RBI release said. Premature redemption of Gold Bond is permitted after the fifth year from the date of issue and the due date of SGB 2016-17, Series III issued on November 17,

The dollar and the yen are the laggards as we get into European trading today. This comes as we see a more positive risk tilt, on the balance of things, as the market continues to sort out its feet. Equities are pushing higher and that is helping with the mood as we also see some

Overall risk sentiment is stable in Asian session today. Australian and New Zealand Dollar are trading mildly higher as recoveries extend, while Sterling is also slightly higher. On the other hand, Yen is softening together with Swiss Franc and Dollar, and that is in-line with risk trades. Euro and Canadian Dollar are mixed for now.

Greg had a look at the oil techs here in his post: ANZ had a bit of a summary of the drivers, this in brief from a longer piece. Monday data from China sent the price a little lower, but optimism over Shnaghai reopening soon returned: Crude oil prices were under pressure earlier in the

TOKYO: Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia. Brent crude futures were down 64 cents, or 0.6%, at $110.91 a barrel at 0137

NEW DELHI: Gold prices edged up mildly on Monday, rebounding from recent lows, even as the US dollar continued to trade firm. The dollar started the week just off a 20-year high against peers, as investors sought safety due to fears about global growth, and continued to make rival safe-haven gold less attractive for buyers

Yen and Dollar rise slightly in quiet Asia session today while Aussie and Kiwi weaken. It’s typical risk-off setting with weakness seen in oil price and gold too, but movements are limited. Major pairs and crosses are staying inside Friday’s range for now. Asia stock markets are also mixed with mild weakness seen in China

Info via Reuters citing excerpts of an article to be published by the Belfast Telegraph newspaper which were released late on Sunday. UK Prime Minister Boris Johnson wants to resolve the stalemate with the European Union over Northern Ireland’s post-Brexit trade rules but if this cannot be done he has kept open the option of

A weekend report of comments from a “top official” in Iran. Bloomberg (gated) carry the report, citing Mohsen Khojastehmehr, managing director of the National Iranian Oil Co.. he spoke with reporters Saturday in Tehran. Iran has capacity to double oil exports if there’s sufficient demand Iran will “exert maximum effort to recoup its crude oil

The resilience in the oil market this week is shocking. Consider: Brutal market for risk assets with stock markets down six weeks in a row Other commodities — namely copper — down big China lockdowns ongoing, no sign of a shift from covid-zero Worsening sentiment about the economy Insane crack spreads driving up the cost

The current financial market environment is one where market players are shunning riskier assets and moving to the safety of cash. Increasing nervousness about economic growth, inflation concerns, geopolitical issues, and the rising interest rates has caused the switch. The US dollar has emerged as the clear winner in this flight to safety, with the