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Gold prices edged lower on Tuesday to hover near a one-week low hit in the previous session. It was headed for the biggest monthly drop in more than four years, weighed down by a firm dollar and concerns that the US Federal Reserve will tighten its monetary policy sooner than expected. Spot gold was down

Dollar and Yen are currently the mildly strong ones this week so far. US stocks ended mixed as S&P 500 and NASDAQ made new record highs, but DOW refused to follow and closed lower. Asian markets are also generally in red. Australian and New Zealand Dollars are notably weaker today, while Sterling is trailing. Technically,

Forex news for North American trading on June 28, 2021. US rates went lower today with the 10 year yield moving down about 4.6 basis points (the 30 year was down -5.1 bps).  That took the yield a few basis points below the 1.5% level. The most recent high reached 1.77%. The most recent swing

NEW YORK: Oil prices fell nearly 2% on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put a brake on the rally before this week’s OPEC+ meeting. Brent futures fell $1.33, or 1.8%, to $74.85 a barrel by 12:44 p.m. EDT (1644

Dollar is pick up some upside momentum as markets enter into US session. Overall trading is rather subdued though. Economic calendar is near empty today while central bankers’ comments are largely ignored. Sterling is currently a firmer one together with the greenback. Swiss Franc is the worst performing one, together with commodity currencies. Technically, as

What are the key risk events to take note of It’s all quiet so far to start the new week, with only the pound inching slightly ahead with cable holding just above 1.3900 for now. Besides that, there isn’t much going on in FX with equities and bonds also looking flattish to get things going

HANOI: Copper prices fell on Monday and were set for a third straight daily drop in London, as the dollar strengthened on investor concerns over inflation in the United States that could lead to sooner-than-expected policy tightening. Three-month copper on the London Metal Exchange was down 0.3% at $9,383.50 a tonne, as of 0528 GMT,

Japanese yen is the worst performing major currency against US dollar in 1H21. A more hawkish Fed and actual inflation (divergent monetary policy), widening yield differential and inflation expectations are the key drivers to yen’s depreciation. In the second half of the year, persistence of these drivers could further strengthen USDJPY, though to a lesser

Crude oil futures are up $0.75 at $74.05 At the top of the hour, the weekly Baker Hughes rig count totals will be released. The oil rig count last week came in at 373. The gas rigs were at 97. Expectations are for an increase in both to 377 and 99 respectively. The price of crude

Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)

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Classic risk-positive trade wins out The top performing G10 currencies this week were NZD, AUD and CAD, in that order. At the bottom of the list were JPY, USD and CHF. That’s a classic risk-positive trade setup that has been underlined by the selloff in bonds and the best week for US equities since April.

Gold prices held steady on Friday as investors awaited US inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. FUNDAMENTALSSpot gold was flat at $1,773.52 per ounce by 0104 GMT. Prices have risen 0.6% so far this week. US gold futures eased 0.2% to

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com

Forex news for New York trade on June 25, 2021: Markets S&P 500 up 14 points to 4280 US 10-year yields up 3 bps to 1.52% WTI crude up 69-cents to $73.99 Gold up $4 to $1779 CAD leads, GBP lags The PCE report was the focus of the session and inflation fears were running

NEW DELHI: Gold in the national capital on Friday dipped marginally by Rs 66 to Rs 46,309 per 10 gram, according to HDFC Securities. The precious metal had closed at Rs 46,375 per 10 gram in the previous trade. In contrast, silver jumped Rs 332 to Rs 67,248 per kilogram from Rs 66,916 per kilogram

Yen and Dollar ended the week as the worst performing ones, as US stock markets came back with strong rally. Risk-on sentiments pushed commodity currencies broadly higher. Yet, Yen crosses are also held below recent highs despite the rebounds. Dollar’s pull back was also relatively weak. Some more time is needed to determine if they’re