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I posted the early FX rates here: Monday morning open levels – indicative forex rates – 28 November 2022 The USD is up (risk sentiment is shaky) on the news out of China over the weekend on widespread protests over the Chinese Communist Party’s (mis) management of COVID policy. This from CNN for example: Protests

MMT, which is 1.7% lower than the same period last year. Production is projected lower due to a decline in acreages by 0.8% year-over-year (y-o-y) while yield is estimated to drop by 0.8% from the previous year. Kharif foodgrain production is estimated to drop by 6.2% y-o-y to 146.39 MMT mainly due to a fall

The major European stock indices are closing the day modestly higher (Italy’s stocks fell fractionally). German Dax +0.01% Frances CAC +0.08% UK’s FTSE 100 +0.27% Spain’s Ibex +0.34% Italy’s FTSE MIB bucked the trend with a -0.05% decline for the trading week: German Dax, +0.76% Frances CAC, +1.02% UK’s FTSE 100, +1.37% Spain’s Ibex, +3.55%

Silver prices recouped from a multi-year low on demand optimism. Global consumption of the precious white metal is expected to reach a record total this year, driven by post-pandemic industrial and physical investment demand. Silver was reeling under the bearish grip for the past several weeks. It was the worst-performing precious metal in 2022. A

With 30 minutes to go in US trading, the major indices are mixed with the Dow industrial average rising, the S&P near unchanged at the NASDAQ moving lower. The snapshot of the market currently shows: Dow industrial average up 180 points or 0.53% at 34373.80 S&P index is up 2.86 points or 0.07% at 4029.90

Last week, copper and other base metals remained under pressure as the US dollar rose following the US bond yields, mainly because the hawkish remarks of the US Fed weakened market expectations of a suspension of rate hikes. Prices also started the new week on a weaker note as fresh COVID-19 curbs in the top

The expectations of a smaller Fed hike in December was affirmed by FOMC minutes last week. Dollar ended as the worst performer, following mild risk-on sentiment. Canadian Dollar was the second worst as dragged down by falling oil prices. Meanwhile, Euro was the third weakest suffering some selloff against Sterling. Talking about the Pound, it’s

What are the key events and releases for next week’s trading: Tuesday, November 29: Canada GDP 8:30 AM ET. Estimate 0.2% versus 0.1% last month US consumer confidence 10 AM ET. Estimate 100.0 versus 102.5 last month Wednesday, November 30: US ADP nonfarm employment change estimate, 8:15 AM ET. Estimate 195K versus 239K last month

Gold prices were flat on Friday, but they were set for a small weekly gain buoyed by the dollar’s overall retreat on a perceived dovish tilt to the U.S. Federal Reserve’s interest rate hike strategy. FUNDAMENTALS * Spot gold was little changed at $1,753.47 per ounce by 0016 GMT. U.S. gold futures rose 0.5% to

With the US traders returning from the Thanksgiving Day holiday for an abbreviated session and the World Cup going on, the day was set up to be somewhat limited. The strongest to the weakest of the major currencies The USD did move higher in early NA trading. However, as debt market rates ticked higher partly

Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13 cents, or 0.2%, to trade at

The evidence is all in the data these days and while consumer price inflation remains elevated, there are tentative signs that inflation pressures are starting to cool in Europe – at least for the time being. Let’s dig straight into the recent economic releases. France PMI “Rates of both input cost and output price inflation

New Delhi: Gold prices were trading flat on Friday, headed for a weekly gain on the back of the weak US dollar after dovish tilt in Fed’s stance. The Fed’s signalling of a slowdown in the pace of rate hikes took pressure off global peers to keep on raising rates and offered relief to emerging

Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows as second as supported by retail

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Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil. A greater-than-expected build-up in U.S. gasoline inventories added to downward pressure. Brent crude futures had slid 43 cents, or 0.5%,

Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the US markets are on holiday today,

The pair is the main mover so far on the day, with it being down 0.5% to 138.80 levels. The dollar was mostly softer across the board but has recouped some losses against other major currencies as we get into European trading. Going back to USD/JPY, the thing to note is that the pair has