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Sterling rises strongly today, and overpowers Australia and New Zealand Dollar. On the other hand, Yen’s selloff continues while Dollar is following closely behind. Despite strong investor confidence data, Euro is indeed under heavy selling pressure against the Pound and Aussie. Comments from ECB chief economist Philip Lane suggests that the central bank is still

The recent rally in copper price has been driven by potential supply deficit in coming years. Stimulus measures rolled by major economies, such as the US, the UK and China, have put strong focus on green energy. Developments of which are expected to significantly raise demand for copper. Meanwhile, issues in major copper producers, especially

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NEW DELHI: Aluminium prices rose 0.6 per cent to Rs 201 per kg in the futures trade on Friday as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the May delivery gained Rs 1.20, or 0.6 per cent, to Rs 201 per

NEW DELHI: Gold rose by Rs 474 to Rs 47,185 per 10 gram in the national capital on Friday amid strong buying in global precious metals, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,711 per 10 gram. Silver also jumped Rs 1,050 to Rs 70,791 per kilogram

Return of risk-appetite pushed DOW to new record overnight while Asian markets also firm up. Dollar was under some selling pressure, but it’s still kept in range against except versus Swiss Franc and Canadian Dollar. Focus will turn to non-farm payroll report from today. A strong set of data would prompt more risk-on sentiments and

BBC reports that SNP and allies will have a majority Sterling could come under pressure when markets reopen with Scottish pro-independence parties taking a majority. It’s close, but the BBC now forecasts that they have enough votes. The Scottish National Party itself is seen falling just short but with the support of the pro-independence Green

NEW DELHI: Copper prices on Friday traded up by 0.77 per cent at Rs 776.55 per kg in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in May traded higher by Rs 5.90, or 0.77 per cent, at Rs 776.55 per

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What does option positioning tell us Bank of America Global Research tracks how option investors have traded so far in 2021. “G4: near-term bullish EUR, bearish JPY and CHF From May to July, option investors have significantly more amount of unexpired calls than puts in EURUSD, their conviction in near-term strength for EUR (Exhibit 16).

Copper soared this week to an all-time high, continuing a sizzling rally that’s seen prices double in the past year. The previous copper record was set in 2011, around the peak of the commodities supercycle sparked by China’s rise to economic heavyweight status — fueled by massive amounts of raw materials. This time, investors are

Dollar dropped broadly last week and ended sharply lower, as the huge non-farm payroll miss gave a strong node to Fed’s patient approach. Progress could only be consider substantial as seen in realized economic data, rather than projected outlook. It’s right that Fed is not even in a position to consider tapering. The expectation that

AUD/USD climbs 1.63% on the week The US dollar is down after today’s non-farm payrolls report but that only continued the selling trend this week. The Australian dollar, kiwi and surprising Swiss franc were at the top of the FX chart, followed by GBP, EUR, CAD and JPY. The moves are decent-sized with everything except

Forex news for New York trade on May 7, 2021: Markets: Gold up $16 to $1832 US 10-year yields up 1 bps to 1.58% WTI crude flat at $64.67 S&P 500 hits record 4328 EUR and AUD lead, USD lags The non-farm payrolls report certainly made for an interesting trading day and the repercussions of

Gold jumped more than 1% en route to its best week since November last year after an unexpected drop in US jobs growth in April hastened a retreat in the dollar and Treasury yields. Spot gold rose 0.9% to $1,832.07 per ounce by 12:09 p.m. EDT (1609 GMT), after hitting its highest since Feb. 11,

Domestic gold futures swung between gains and losses with a positive bias on Friday as spot gold hit a more than two-month high above the $1,800 per ounce mark amid weakness in the dollar. With a weekly gain of almost 3 per cent so far, bullion was on track to clock its best week since

Dollar dives sharply in early US session after huge employment data miss. Canadian Dollar is slightly weaker, also on job data disappointment. Euro and Swiss Franc are quick to jump on assaulting the greenback. But Yen is not too far behind, as stocks could be under some pressure after the data. As for the week,