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A look at oil WTI crude settled down $1.43 to $63.58 today, a 2.2% drop. The decline comes after three solid days of gains in a row. The bulls continue to point to reopening demand while the bears point to new covid shutdowns and the OPEC+ overhang. In terms of market balance, global inventories are

Domestic gold prices seesawed between gains and losses on Friday amid rising US Treasury yields and a slump on Dalal Street. Where on one hand higher US yields rendered the yellow metal less attractive, deep losses in equities back home led investors to run safer instruments, say analysts. MCX gold futures for delivery on June

Dollar rebound in early US session after much stronger than expected PCE inflation data. Though, at this point, Canadian Dollar remains slightly firmer, as supported by GDP data. Yen is also recovering with mild retreat in German and Japan yields, as well as mild risk aversion. European majors are, on the other hand, the weaker

Bank of Japan  At the last BoJ policy meeting on April 27 there were no surprises. Interest rates remained at 0.10%. The Yield Curve Control (YCC) was maintained to target 10 year JGB yields at 0.0%. The vote on YCC was made by 8-1 votes with Katoaka the dissenter. Better times ahead The general outlook

NEW DELHI: Gold and silver futures were trading with cuts on Friday as higher US Treasury yields dampened the metal’s appeal, while palladium eased off a record high scale a day earlier. Benchmark US 10-year Treasury yields rose to a more than two-week high in the previous session, increasing the opportunity cost of holding non-yielding

The financial markets are trading with a mild risk-off tone in Asia today, despite the resilience in US overnight. Solid economic data from Japan and China provided little support to sentiment. The region is generally in deep worry over record coronavirus infections in India. As for the currency markets, Yen and Dollar are set to

GBP/USD up 7 pips to 1.3943 today ANZ Research discusses GBP/USD outlook and maintains a bullish bias through year-end. ANZ targets GBP/USD at 1.46 by year-end and at 1.50 into mid-22. “Supported by growing evidence that the easing of pandemic restrictions is underpinning UK growth, GBP/USD has regained its uptrend,” ANZ notes. “Against the backdrop

LONDON: Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand. Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT. The last time copper rose above $10,000

Yen’s selloff is a dominant theme in the markets today as major global treasury yields strengthen. In particular, Germany 10-year bund year is back at around -0.18, above -0.2 handle. US 10-year yield is trading at 1.675 at the time of writing, with a take on 1.7 handle before weekend a possibility. Dollar recovers mildly

Latest data released by Destatis – 29 April 2021 Prior +1.7% Import price index +6.9% vs +6.0% y/y expected Prior +1.4% A solid bump in import prices on the month, which is helped by higher input costs due to supply constraints in general across the globe. The big spike in the year-on-year reading owes to

LONDON: Copper paused near 10-year highs on Wednesday ahead of a policy announcement by the U.S. Federal Reserve, but analysts at Goldman Sachs joined others predicting a rally to record levels. Benchmark copper on the London Metal Exchange (LME) was up 0.3 per cent at $9,884.50 a tonne at 1637 GMT after reaching $9,965 on

Dollar’s selloff resumed overnight after FOMC risk was cleared. Basically, Fed just reaffirmed it’s stance that it’s far from considering stimulus exits. Though, for the week so far, Yen is even weaker with strong rebound in global treasury yields. Euro is no far, follow Dollar as third weakest so far. On the other hand, Canadian

Initial reaction is USD selling There isn’t much to digest in the FOMC decision. There were no actions or changes to guidance. Powell will take questions shortly but if the statement is any indication, he’s not going to offer anything new. The early market reaction is modest US dollar selling. Some of that is a

Gold prices hit a near two-week low on Wednesday as investors awaited policy signals from the US Federal Reserve. Spot gold fell 0.1% to $1,774.78 per ounce by 12:32 p.m. (1632 GMT), after dipping to its lowest since April 16 at $1,762. US gold futures fell 0.3% to $1,774.20. “You’re going to see the Fed

The financial markets are generally steady today as traders are holding their bet ahead of FOMC announcement. US President Joe Biden is set to unveil a USD 1.8T package for family and education, but that’s unlikely to trigger much reaction. New Zealand Dollar and Canadian Dollar are currently the strongest ones for today, followed by

A steady session for Asian equities The Topix is seen closing up by 0.3% as Japanese stocks continue to consolidate after the drop seen in the early stages of last week. Elsewhere in the region, the Hang Seng and Shanghai Composite indices are both up 0.1%. All eyes are on the Fed today so market

Palladium prices hit a record on Tuesday, spurred by persistent supply worries, while gold held a narrow range as investors awaited policy signals from the U.S. Federal Reserve‘s meeting this week. Palladium hit a record of $2,962.50 per ounce earlier and was up 0.8 per cent at $2,948.69 per ounce by 1:02 p.m. EDT (1702

Australian Dollar tumbles broadly in Asian session after weaker than expected CPI data. Sterling is following as the second weakest , and then New Zealand Dollar. Dollar firms up mildly as traders await FOMC rate decision, but the rebound is mainly centered against Yen and Aussie. Indeed, Yen was under some notable selling pressure overnight