Gold price declined by Rs 435 to Rs 49,282 per 10 gram in the national capital on Wednesday in tandem with fall in rates of the precious metal in international market, according to Securities. In the previous trade, the yellow metal had settled at Rs 49,717 per 10 gram. Silver also tumbled by Rs 1,600
Month: September 2022
In a surprised move, BoE announced to intervene in the gilt markets. While 10-year gilt yield drops notably on the news, the recovery in FTSE is just mild. Sterling also just fluctuates and it’s trading as the weakest one for the day. On the other hand, Swiss Franc buyers jump in on worsening energy crisis
Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. Bloomberg | Bloomberg | Getty Images The financial market turmoil resulting from the U.K. government’s spending plan “suggests incompetence,” according to billionaire investor Ray Dalio. “I
Lego Star Wars toys sit on display inside a Toys “R” Us Inc. store in Paramus, New Jersey, U.S., on Tuesday, Nov. 26, 2019. Bloomberg | Getty Images Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter. On Wednesday, the privately held Danish toymaker said
GBP/USD is registering minimal gains in a volatile trading session as the BoE stepped in to calm investors. Due to dysfunctional market conditions, the BoE’s QT program will be delayed until the end of October. GBP/USD Price Analysis: Range-bound around 1.0550-1.0750, with traders ready to step in an upwards/downwards break. The GBP/USD recovered some ground
This is my extracted commentary from this mornings technical video. If you want to learn about analyzing the market price action, I think it has some lessons. I will explain more below. Take a look at the video first. Lesson 1. Know what the bias is. Yes.. the price moved higher today, but overall, the
The current theme in markets is to buy the dollar, sell everything else. The early reprieve yesterday was conceded as bonds turned and that helped to signal a turnaround in broader market sentiment as well. As much as investors would like to remain hopeful, it’s tough to pick a reversal point for stocks especially when
U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives. In a whitepaper shared on Sept. 27, authors including Texas Bitcoin Foundation executive director Natalie Smolenski PhD, and former Kraken growth lead Dan Held argue CBDCs would
Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The
The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government’s growth plan will be done at next “scheduled” meeting, ruling out an emergency meeting. Dollar is also taking a breather even though 10-year yield rose to the highest level since 2010.
USD/JPY grinds higher around 24-year top, probes three-day uptrend. BOJ Minutes highlights the need for vigilance on sharp yen moves. US 10-year Treasury bond yields rose to 12-year high, DXY renewed the highest levels since May 2002. No major data on calendar, Fed’s Powell may please bulls if managed to defend heavy rate hikes. USD/JPY
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The AUDUSD is testing the lows from yesterday at 0.64377. Looking at the weekly chart below, that low took the pair below the 61.8% of the move up from the 2020 low to the high reached in 2021 at 0.64615. After a move higher today took the pair back above that retracement level, the sellers
It’s odd that the report, from Bloomberg, indicates it will be with ‘Wall Street’. That could just mean the finance community but you’d think he would be more eager to meet with banks in the UK. In any case, he might have to resort to begging them to buy some gilts at this pace. UK
New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and
Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on Tuesday, while the U.K.
US dollar recovers after September Consumer Confidence data. Stocks move off highs as US 10-year yield hits fresh highs. EUR/USD unable to sustain recovery, holds above lows. The EUR/USD dropped further after the beginning of the American session and hit levels under 0.9600. It is hovering at 0.9620/25, around the 20-hour SMA without a clear
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