News

By Clyde RussellLAUNCESTON: Gold suffered something akin to a flash crash in early Asian trade on Monday, and while the volatility was largely a result of thin, holiday-affected trade, the slump underscores the challenges facing the precious metal. Spot gold dropped as much as 4.4% in a short period when Asian trade started on Monday,

Dollar’s rally continued last week as supported by hawkish comments from Fed officials. Expectations for tapering this fall continued to build up. Swiss Franc is trading broadly lower, as the pull back against Euro accelerated. Meanwhile, Australian is also trading lower on poor business confidence data. Focus will turn to Germany economic sentiment first, with

ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around New Zealand. ANZ use traffic flows in this indicator as a proxy for economic growth. Heavy vehicle index -1.1% m/m in July from +2% in June.  Light vehicle index -0.8%  ANZ comments on the New Zealand economy more generally:

New Delhi: Markets regulator Sebi on Monday tweaked the framework pertaining to margin benefits on “calendar spread” position in commodity futures contracts in a bid to increase liquidity in such contracts. In market parlance, calendar spread is a trading strategy which involves the buying of a derivative of an asset in one month and selling

Overall markets are mixed today, as Dollar is digesting some of last week’s gains, awaiting more guidance from FOMC members regarding tapering. New Zealand and Canadian Dollar are the stronger ones for now. But Australian Dollar is among the weakest together with Euro and Swiss France. Yen and Sterling is slightly firmer. Gold and silver

Not much going on in the FX space to kick start the new week The dollar was the top performer on Friday by some margin, owing to the stronger US jobs report at the time here. So far today, the greenback is steadier as major currencies are showing little appetite as European trading gets underway.

NEW DELHI: Gold kicked off the new week on a negative note. The yellow metal plunged over a per cent during the early trade on Monday in the domestic market, following global footsteps. The stronger-than-expected US job market report have dampened the sentiments for bullion. The dollar index rallied which affected the demand for precious

While the currency markets are rather quite, big surprise is found in gold price, which smashed to as low as 1684, hitting the lowest level since March. Silver also tumbled to as an eight-month low of 22.5. The move was, for certain, exaggerated by the ultra thin Asian morning. Yet, the near term bearishness is

Coming up at 0130 GMT are China’s inflation figures for July CPI expected 0.8% y/y, prior 1.1% the expectations for a lower rate of growth in prices is based on less upward pressure on food/agricultural prices Meanwhile inflation at a producer level is expected to show no respite, PPI expected 8.8% y/y  prior 8.8% commodity

Dollar soared towards the end of the week as the stellar job report should give Fed much confidence to start tapering later in the year. Reactions from stock markets and yields were also positive, with DOW and S&P closing at new records while 10-year yield rebounded. Together with the steep fall in gold, overall development

The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of

NEW DELHI: Copper futures on Thursday slipped 0.38 per cent to Rs 726.60 per kg, as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the August delivery eased by Rs 2.75, or 0.38 per cent, to Rs 726.60 per kg in a business turnover

Forex news for North American trading on August 6, 2021 The awaited jobs report was released today at 8:30 AM ET, and it did not disappoint. The net change in nonfarm payroll jobs was 943K. That was above the 870K estimate. Moreover, the June report was revised higher by 88K to 938K, and the May report was also revised

NEW DELHI: Guar gum prices on Friday gained Rs 190 to Rs 7,625 per five quintal in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for August delivery traded higher 2.56 per cent, or Rs 190 to Rs 7,625 per five quintal with

In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7%   China’s trade surplus with the United States ( Reuters calculation) $35.4

NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came under pressure as the dollar strengthened after monthly US job growth