Breaking News

Risk appetite grows as commodities remain on the offensive

News Date: 6/10/2015 04:09:14

The dollar advanced slightly against its counterparts, as risk appetite after the weak U.S. jobs report countered fears that the fed will delay raising the rates to next year.


Against the Yen, the dollar was helped by speculations the Bank Of Japan might ease its monetary policy further, the BOJ began a two days meeting and is expected to announce its decision on Wednesday, the consensus is that it'll wait further before easing, but might lower growth and inflation forecasts, leaving the door open for further easing later in the year.


The dollar last fetched 120.48 yen, after rising 0.5% overnight to 120.55.


The Euro was on the defensive Services PMI missed the forecast, investors are watching the Euro group meeting taking place now closely for further clues about the region and new policies, the Euro last fetched $1.1179, down from $1.1317 on Friday.


The Canadian dollar rose by 0.47% against the dollar, buoyed by stabilizing commodity prices and positive trade reports, the loonie last fetched $0.7648.


Australian dollar, another commodity currency, strengthened overnight following the steadying commodity prices, and after Australia's central bank kept rates unchanged as expected, it was last treading at $0.7082.


Going out today are German factory orders report, they're expected to have grown 0.5% month on month, the Swiss CPI (consumer price inflation) is coming out as well, it's forecast to have risen only 0.1% m\m.


Retail PMI for the Euro is expected today as well, last month it was 51.4, retail sales report came out yesterday; showing unchanged sales from last month.


A reading above 50 separates growth from contraction.


For Britain, Halifax bank of Scotland is releasing its monthly report on homes prices, HMI, inflation in houses is expected to have grown only 0.1% month on month.


Trade Balance reports are coming out today for both Canada and U.S. , they're forecast to come at -1/1B, -47.6B respectively.


The Chinese market is closed for a holiday.


Crude oil prices tapered some of its gains later on Monday, but kept pushing ahead, Brent oil was last at $49.39 a barrel, U.S. oil was $46.33 a barrel, Brent oil prices are touching on a month-long resistance range, it remains to be seen whether it'll break it or retreat.


The oil sector took heart after Russia announced it's preparing a meeting with other producers to discuss the rout.


Gold futures slumped slightly on Monday, reaching $1129.60 at a low point; gold might find a support line on $1105.80, and a resistance one on $1141.60.

Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News