Hong Kong led most Asian markets lower Wednesday with tech firms in the firing line after China Telecom was banned from the United States, adding to already fraught tensions between the superpowers as concerns lingered about inflation. A strong corporate earnings season has provided some much-needed support to investors in...
The dollar fell early in the European session on Wednesday in calm trading ahead of the US Federal Reserve meeting next week, while the pound sterling is in the spotlight in the UK budget. At 02:30 am ET (06:30 GMT), the dollar index, which tracks the dollar against a basket...
Gold Eases After Failing To Hold Gains Above $1800, Weighed By Expectations For Start Of Reducing Stimulus And Rate Hike
Spot Gold eases after repeated failure to sustain gains above psychological $1800 barrier, with rising expectations that the US Federal Reserve could finally announce the start of reducing stimulus in its Nov 3 policy meeting and market participants operating with information about higher probability of rate hikes in 2022. Reduced...
Gold Price in India: Gold futures continued to decline on Wednesday, October 27, taking cues from international spot prices. On the Multi Commodity Exchange (MCX), gold futures due for delivery on December 3 were last seen down 0.40% – to Rs 47,620, from the previous close from Rs 47,813. Silver futures due for delivery on December 3 were last seen down 0.49% to Rs 64,670 from the previous close of Rs 64,989.
Although the Ghanaian local currency – the cedi – is confronted with heightened risk, Databank, the assets management company, has maintained its year-end forecast for the interbank Bank of Ghana (BoG) reference rate at GH¢6.05/USD (± 10Pesewas). Currently, the imminent depreciation risks emanate from threats of a taper-induced selloff which...
With the stability of the US dollar and the rise in US Treasury bond yields, the price of gold fell to the support level of $1783, as these factors led to curbing the demand for the yellow metal, which is considered a safe haven. Gold settled around the level of $1794 at the time of writing the analysis. Strong data on new home sales in the US and US consumer confidence lifted the dollar. Meanwhile, investors are looking forward to the upcoming monetary policy meetings of the European Central Bank (ECB), the Bank of Canada and the Bank of Japan. The European Central Bank is expected to take a docile stance when it meets on Thursday. The central bank meetings in Japan and Canada are also scheduled this week.
DXY edges up, EUR dips, USD/JPY climbs, AUD gains into CPI. Summary: FX markets settled ahead of key central bank policy meetings which begin with the Bank of Canada (Sydney 1 am, Thursday, 28 October). Tomorrow, the Bank of Japan and the European Central Bank meet on policy. Next week sees the Reserve Bank of Australia, the Bank of England, the US Federal Reserve and Norway’s Norges Bank have their meetings on interest rates and policy. The Dollar Index (USD/DXY), a popular measure of the Greenback’s value against a basket of 6 major currencies edged 0.13% higher to 93.93 (93.83 yesterday). Against the Canadian Loonie, the US Dollar (USD/CAD) was little changed at 1.2387 from 1.2386. The Euro dipped further against the Greenback to 1.1600 from 1.1612. Sterling closed flat at 1.3763 (1.3766) after trading to an overnight high at 1.3829. Despite lower US bond yields, USD/JPY pair climbed to 114.13 (113.73). The Australian Dollar (AUD/USD) settled with modest gains to 0.7504 from 0.7494 heading into today’s release of Australia’s Q3 CPI report. New Zealand’s Kiwi (NZD/USD) dipped to 0.7162 from 0.7169. The Greenback was mixed against the Asian and Emerging Market Currencies. USD/SGD (US Dollar-Singapore Dollar) closed at 1.3474 (1.3470) while the USD/THB pair (US Dollar-Thai Baht) rallied to 33.22 from 33.05. USD/CNH (Dollar-Offshore Chinese Yuan) eased to 6.3775 (6.3825).
Bitcoin (BTC) kicks off the new week by defending $ 60,000 as support and aiming for new all-time highs. After a classic contraction on Sunday, the bulls regained control and managed to hold BT / USD above the all-important $ 60,000 level. However, the all-time highs of April and October have not yet been revisited and investors are eager to watch Bitcoin’s renewed momentum.
European Central Financial institution president Christine Lagarde is predicted this week to push again towards a rising perception amongst traders that the ECB is underestimating future inflation and will increase rates of interest subsequent 12 months. Rising inflation is comparatively new floor for the ECB, which for a lot of...
Resilience and vitality highlighted for China’s financial sector to better support the real economy in H2, experts
BEIJING, Oct 26, 2021 / PRNewswire / – After enabling the stable economic recovery in the first half of 2021, China’s financial sector is urged to do well with the safety score and show more resilience and vitality in order to advance the high-quality development of China’s economy in the second half of the year.
- Advertisement - NEW YORK, October 25 (Businesshala) – The dollar stabilized after jumping from a one-month low on Monday afternoon as traders weighed the prospects for higher interest rates for various currencies and consider that coming economic data and central bank How comments might affect their position. The price...
The US dollar (USD) is known as the world’s reserve currency. Large quantities of it are held by central banks to cover international debts, facilitate changes to domestic exchange rates, make transactions or prepare for future investments. Effectively, the dollar became the reserve currency because of the economic strength of the US, and the fact as a nation, they are best equipped to pay the world’s debts.
STANFORD – US President Joe Biden insists that his $3.5 trillion ($5 trillion without the budget gimmicks) “human infrastructure” bill “costs zero dollars” – nothing, nil, nada. While every president makes foolish statements, this must be the most economically illiterate presidential utterance since Jimmy Carter’s demand that the US Federal Reserve lower interest rates in the midst of surging double-digit inflation. In Carter’s case, the result was a dollar crisis. What will come of the Biden administration’s foray into nonsense?
The week started with a pitch of caution ahead of multiple first-tier events. The European Central Bank, the Bank of Japan, and the Bank of Canada will have monetary policies this week. Furthermore, the US will release the preliminary estimate of its Q3 Gross Domestic Product, and core PCE inflation, the US Federal Reserve favourite inflation measure.
Pressure is growing on the European Central Bank to respond to rising inflation in the eurozone, as its counterparts in the United States and the United Kingdom signal willingness to take action. ECB policymakers will meet on Thursday, with markets hoping for hints on when the bank might start raising...