Gold traded range bound in the early trade on Monday ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) which begins later in the day. The bias remained negative as the dollar index (DXY) was trading above the 101 mark and only strengthened in the last session leading to declines in bullion prices.
Month: July 2023
EURUSD trades to a new session low. The EURUSD is trading to a new set as low as the day comes toward a close. In the process, the price has dipped below the swing area between 1.1062 and 1.1075 bread see red numbered circles on the chart above. The next target on the downside comes
We’re seeing a steady start to the new day, with the PMI slump from yesterday not really impacting the risk mood all too much. In fact, outside of a sell down in the euro and pound, there wasn’t much of an outsized reaction. The focus this week remains on key central bank meetings, and we’re
As a typical Monday Asian session commences, activity in the financial markets is somewhat muted. Nikkei is displaying a notable rise, although this primarily reflects continuation of its recent flip-flopping pattern within an established range, indicative of ongoing consolidation. A similar pattern is observed across other major Asian markets as well. On the currency front,
Share: GBP/USD extends its downtrend to seven consecutive days amidst mixed economic data from the United States (US), while further deterioration in the United Kingdom (UK) economy paints a gloomy scenario as the Bank of England (BoE) struggles to curb high inflation. At the time of writing, the GBP/USD is trading at 1.2831 after reaching a high
Gold prices dropped by Rs 100 to Rs 60,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 60,450 per 10 grams. Silver also declined by Rs 200 to Rs 77,000 per kilogramme. Gold eased on
The USDCAD traded in a narrow band last week of about 120 pips. The price closed near the highs and above the 30.2% retracement of the July trading range at 1.3204. In trading today, the Asian-Pacific session saw the price initially moved to the upside but stall ahead of the high price from last Monday
Is genuine China stimulus finally coming? There has been a slow pivot in Chinese policy ongoing for the past two months but the market appeared to be frustrated with piecemeal offerings rather than broader stimulus. Inflation is low in China but policymakers have been trying to deflate real estate and move to a consumption-led economy,
Euro and British Pound face some downward pressure today, following dismal PMI data that raises concerns about the prospect of further economic contraction in Eurozone and UK. With the German Ifo business climate index on the horizon tomorrow and ECB rate decision due on Thursday, Euro is likely to face additional scrutiny. Meanwhile, Dollar seems
In this article CVX Follow your favorite stocksCREATE FREE ACCOUNT Cars drive past sign with logo at the entrance to the world headquarters of petroleum company Chevron in the Bishop Ranch office park in San Ramon, California. Smith Collection | Archive Photos | Getty Images Chevron on Sunday said the company’s Chief Financial Officer Pierre
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Former FTX CEO Sam Bankman-Fried has agreed to a gag order preventing him from making comments to third parties that may interfere with his trial — but argues other potential witnesses should be gagged as well, including current FTX CEO John Ray. The gag order against Sam Bankman-Fried was initially requested on July 20, when
Share: USD/CHF grinds near intraday high, reverses Friday’s U-turn from one-week high. CFTC data suggests bearish US Dollar bets jump to record high. US statistics flag fears of Fed policy pivot despite lifting greenback from 15-month low in the last week. First readings of US S&P Global PMIs for July will direct intraday moves, Fed
Bullion traded rangebound in the early morning session on Monday ahead of the crucial US Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins on Tuesday. The bias remained negative as the dollar index (DXY) was trading above the 101 mark. The August gold futures were trading in the red at Rs 59,220 per
The AUDUSD saw some up-and-down price action this week, with a ceiling near 0.6840 (there was a failed break on Thursday that was quickly reversed). In trading on today (on Friday), the price fell below the low from Wednesday’s trade and also the 50% midpoint of the move up from the July low to the
Major central bank decisions will take center stage this week but don’t discount the impact of the PMI data that we will see today. In the case of the Eurozone, this could play a role – alongside inflation data – to manage expectations for September. The yen is slightly higher today but the bulls were
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