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China is certainly seen as the manufacturing hub of the world but there’s one area of global production that’s largely untouched and it’s the biggest one: Automotive. There aren’t many countries where you would see an Chinese built or designed vehicle on the roads but that may soon change, and it could be far more

Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand. Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a

The markets are steady after US data showed further cooling in headline and core PCE inflation. While the decline in Dollar has been slowing somewhat, there is no committed buying for a sustainable rebound. The greenback is likely to end the week mixed. Trade might be relatively subdued for the rest of the session. Traders

The CPI rate in Japan’s capital Tokyo hit a 42-year high in January. The inflation data from Tokyo is published about 3 weeks ahead of nationwide CPI and serves as a guide to what to expect. The Bank of Japan have insisted, over and over, that current high levels of inflation in Japan are transitory

Gold prices were little changed in early Asian hours on Friday, as traders awaited U.S. inflation data due later in the day to gauge the Federal Reserve‘s rate-hike stance. FUNDAMENTALS * Spot gold rose 0.1% to $1,931.95 per ounce, as of 0030 GMT, and was headed for a sixth consecutive weekly gain. U.S. gold futures

Australian Dollar strengthens further with mildly positive risk sentiment in Asia. But other major currencies are sluggish. Yen is still recovery but apparently lacks committed buying. Canadian Dollar is staying soft after yesterday’s BoC hike, but selloff is relatively limited. Euro is having a slight upper hand against Dollar, but both are actually mixed. Focuses

I wrote earlier about positive comments on the US consumer from the airline business. One industry that’s tightly connected to industrial demand is steel. Manufacturing is certainly slowing but there’s plenty of stimulus in the pipeline due to infrastructure and green energy bills. Shares of Steel Dynamics today are up 4% to a record high

Gold prices hit a nine-month high on Thursday before trading steady, as investors hunkered down for US economic data that could influence the Federal Reserve’s policy tightening path. Spot gold was flat at $1,944.96 per ounce, as of 0244 GMT, after hitting its highest since April 2022. US gold futures were up 0.2% at $1,945.60.

US futures trade higher after a batch of solid economic data. Positive risk sentiment are lifting commodity currencies in general, in particular Aussie. Dollar and Yen are turning softer while European majors are mixed, with Euro lagging behind. In the weekly picture, while Aussie is still the strongest, Dollar and Yen are the weakest. Euro

Major FX rates traded in subdued ranges during the timezone here today. Contributing to lacklustre ranges were the wait for US data later on Thursday, and holidays in mainland China and Australia today. Hong Kong markets reopened after the five-day long weekend for Lunar New Year celebrations. HK equities jumped higher. As I post Hong

Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market. Spot gold fell 0.2% to $1,927.35 per ounce by 10:20 a.m. ET (1520 GMT), after hitting its highest since

Australian Dollar rises broadly today after strong CPI data supports continuation of tightening by RBA. On the other hand, New Zealand CPI didn’t accelerate as RBNZ projected, and markets are lowering their expectation on the terminal rate. Kiwi, thus falls broadly. Canadian Dollar is firm as focus turns to BoC rate decision, where a final

The Canadian dollar declined after the Bank of Canada hiked rates, as expected, but also signaled a shift to the sidelines. “If economic developments evolve broadly in line with the MPR outlook, Governing Council expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases,”

Gold price fell Rs 198 to Rs 56,972 per 10 gram in the national capital on Wednesday amid weak global trends, according to HDFC Securities. The precious metal had settled at Rs 57,170 per 10 gram in the previous trade. Silver also declined Rs 270 to Rs 68,625 per kilogram. “Spot gold price in the

Australian Dollar remains the strongest one for today, maintaining most of post-CPI gains. But Yen is catching up with broad based recovery. Euro softens despite improvement in German business climate, and Sterling is trading lower too, while Kiwi stays as the worst. Dollar and Canadian are mixed awaiting BoC rate decision. Technically, EUR/CHF is worth

In Asia on Tuesday markets remained closed in China and Hong Kong. On Thursday (tomorrow) China and Australia will be out on holiday. The focus for the session was on New Zealand, and then Australian, CPI data for Q4 2022. There is detail on these reports and market and analyst responses in the bullets above.

Crude oil prices rebounded on Wednesday as demand recovery hopes in top importer China following its exit from COVID-19 pandemic curbs provided support after prices dropped in the previous session on concerns about global economic growth. Brent crude futures gained 59 cents, or 0.7%, to $86.72 per barrel by 0214 GMT after falling 2.3% in

Dollar softens mildly again in rather subdued trading in Asia. Many markets are still on Lunar New Year holiday. For now, Australia Dollar is the relatively stronger one for the week, followed by New Zealander. Euro is maintaining some of this week’s gains, but there is no follow through buying. Yen is the weakest one