કોમોડિટીઝ, કરન્સી, બોન્ડ્સ અને સોના-ચાંદી- ક્રૂડના આંતપ્રવાહો એક નજરે: Views on Commodities, Currencies and Bonds
અમદાવાદ, 25 એપ્રિલ
ENERGY
International and domestic crude oil futures rebounded on Monday’s session and ended higher as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Supply tightness owing to additional supply cuts planned by the OPEC+ producer group from May also lifted prices. Meanwhile, CFTC data showed speculators raised their net longs crude oil F&O positions by 11,736 contracts to 199,622 in the week to April 18. U.S. NYMEX and MCX gas futures rebounded on Monday’s session as the amount of gas flowing to U.S. LNG export plants remained on track to hit a record high for a second month in April. However, upside was capped as output in the U.S. rose to 100.3 bcfd so far in April, up from 99.7 bcfd in March. CFTC data showed speculators switched to net longs in gas F&O positions of 8,663 adding 14,442 contracts in the week to April 18.
BULLION
International and domestic gold and silver rebounded on Monday as the Dollar and the benchmark bond yields eased. However, prices have remained in a small trading range as investors turned their attention to this week’s economic data that may influence the U.S. Federal Reserve’s next policy decision. CFTC data showed speculators cut their net longs gold F&O positions by 3,311 contracts to 134,253, while speculator raised their net longs in silver F&O by 2,522 contracts to 21,753 in the week to April 18.
BASE METALS
COMEX and MCX Copper futures extended losses on Monday’s session as investors worried about China’s demand. However, a softer dollar capped downside. Most other base metals remained under pressure, with zinc hitting its weakest since November 1st week last year.
CURRENCIES
The Indian Rupee appreciated against the U.S. Dollar on Monday as foreign banks in India were seen selling the greenback on behalf of their custodial clients. The Rupee again gained past the 82-per-dollar level, outperforming its Asian peers. The Rupee settled at 81.9050 per dollar up 0.23% to post its biggest intraday percentage gain since April 13. Indian equity markets extended gains on Monday %, and also lent support. Additionally, speculation of possible inflows related to an initial public offering that may have aided the local unit this Monday. Asian currencies were mostly weaker and capped gains. In the overseas markets, the U.S. Dollar Index ended weaker on Monday against major currencies on Monday in thin trading, as investors continued to price in interest rate cuts this year by the Fed after a widely expected rate increase at next week’s policy meeting. The Japanese currency struggled amid remarks from new Bank of Japan governor bout the need to maintain monetary easing ahead of a closely watched BoJ meeting on Friday. The BoJ is widely expected to maintain the BOJ’s current ultra-easy yield curve control policy. The Euro and the Sterling gained against the Dollar on Monday.
BONDS
Indian bond yields ended lower on Monday, tracking the U.S. peers. The 10-year benchmark 7.26% 2032 bond yield ended at 7.111%, the lowest level since September 13, 2022, after closing at 7.185% in the previous session. U.S. Treasury yields ended weaker on Monday ahead of an important vote on a debt and spending bill this week. Meanwhile, U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes seen as an indicator of economic expectations, was at -62.8 basis points.
(Sriram Iyer, Senior Research Analyst at Reliance Securities)
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)
(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ, ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)
