NEW DELHI: Gold prices dropped on Wednesday as higher US Treasury yields weighed on sentiments for the yellow metal and investors awaited the Federal Reserve monetary policy outcome. While gold is seen as an inflation hedge, higher short-term US interest rates and bond yields tend to increase the opportunity cost of holding non-yield bullion. Gold
Month: May 2022
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
In this article ETSY AMZN An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector
In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.5672 vs. the last close of 0.6090. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning,
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Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4. Although markets expect a 50 basis point rate hike and an announcement by the Fed to start shrinking its balance sheet from June, it is difficult to predict how the markets will react to this trigger.
EURUSD trades to new session high and away from its 100H MA The EURUSD traded in a narrow 29 pip range as North American traders entered for the day. The price action on the hourly chart above saw the pair trading above and below its flattening 100 hour moving average. That range has now been
We saw a similar dip in the US dollar yesterday around this time. That adds to our suspicion that this drop is flow-related either around spreads, position squaring or something else. The Treasury’s refunding announcement included smaller auction coupons but BMO contends that’s not a surprise: “The refunding announcement confirmed the widely expected coupon cuts
New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more
GBP/USD staged a goodish intraday bounce from the weekly low touched earlier this Wednesday. A positive risk tone and dismal ADP report weighed on the safe-haven USD and extended support. The upside potential seems limited as the focus remains glued to the crucial FOMC policy decision. The USD edged lower in reaction to the dismal
USDJPY seems to be stuck in a range now The USDJPY is taking a breather today with a 60 pip trading range. That is about half of the oversized 122 average over the last 22 trading days (about a month of trading days). The price action has been down, up, down and back up again.
The British Retail Consortium data release for April 2022 shows prices in store chains rose by an annual 2.7% y/y, the highest rate since September 2011. from 2.1% in March From BRC chief executive Helen Dickinson: The impact of rising energy prices and the conflict in Ukraine continued to feed through into April’s retail prices,”
MELBOURNE – Oil prices slipped on Tuesday in a second day of thin trading in Asia, pulled in opposite directions by China’s COVID-19 lockdowns, which could weigh on fuel demand, and prospects for a supply hit from a possible European oil embargo on Russia. Brent crude futures fell 23 cents, or 0.2%, to $107.35 a
Australian Dollar rebounds broadly after the larger than expected rate hike by RBA, and takes up New Zealand Dollar too. But there is no clear follow through buying yet. Swiss Franc is currently the weakest one for the day, followed by Dollar and Yen. Apparently, overall development suggests steady risk sentiment, but that may not
A “now hiring” sign is posted in the window of an ice cream shop in Los Angeles, California on January 28, 2022. Frederic J. Brown | AFP | Getty Images Employment openings exceeded the level of available workers by 5.6 million in March while a record number of people quit their jobs, the Labor Department