Month: June 2023

Share: What you need to know on Wednesday, June 21: The US Dollar kept grinding higher on Tuesday as the market mood soured on fears that Chinese economic growth has lost momentum. The focus now shifts to Federal Reserve Chairman Jerome Powell’s testimony before Congress. The People’s Bank of China (PBoC) cut two key lending
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WTI crude oil futures settled at $71.19, down $0.74, down -1.02% The move to the downside was helped by China growth concerns and by a stronger USD after much better-than-expected housing starts and Building permits. Traders are now looking forward to upcoming weekly private inventory and EIA data, as well as other key economic indicators
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Share: Euro posts decent gains after two daily pullbacks in a row. Stocks markets in Europe extends the weekly bearish note. Renewed weakness in the US Dollar props up the pair so far. US traders return to their desks following Monday’s holiday. Investors’ attention remains on the Fed, ECB future moves. Cautiousness is expected to gather steam ahead
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Bullion prices extended their losses on Tuesday on a stronger Dollar Index (DXY). Analysts expect gold to be range bound in today’s session with a bearish tilt. MCX August Gold futures were trading at Rs 59,176 per 10 grams in the opening trade and were unchanged as against their last close while July Silver futures
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Australian Dollar is trading broadly lower today, reflecting uncertainties that emerged after release of minutes from RBA meeting earlier this month. The minutes revealed that a hold was considered at the meeting. Arguments were finely balanced even though it eventually decided to hike 25bps. These revelations have stirred market doubts about the continuity of monetary
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