Month: September 2023

Gold fell on Thursday led by steady dollar amid concerns of inflation and likelihood of further interest rate hike by the US Federal Reserve. At 104.86, the dollar index (DXY) was hovering just shy of 105 against a basket of six major currencies which lent weakness to the yellow metal. It was also the greenback’s

Agricultural Bank of China and Bank of China have announced they are adjusting rates for some existing first-home mortgages. There has been a wave of supportive moves such as this after instructions were given by authorities in the country. The property sector has been slow under the debt implosion, relief measures are ongoing.

Forex markets have found a moment of stability in today’s Asian trading session, with Dollar taking a breather as it looks for fresh catalysts to continue this week’s rally. All eyes are now on the upcoming ISM Services data, which could prove pivotal for Dollar’s trajectory. Services sector has emerged as the main engine of

Gold price declined by Rs 100 to Rs 60,200 per 10 gram in the national capital on Wednesday amid weak cues in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,300 per 10 gram. “Gold extended its fall on Wednesday, with spot gold prices (24 carats)

US ISM Services PMI Details: employment index 54.7 versus 50.7 prior new orders index 57.5 versus 55.0 prior prices paid index 58.9 versus 56.8 prior new export orders 62.1 versus 61.1 prior imports 52.3 versus 52.3 prior backlog of orders 41.8 versus 52.1 prior inventories 57.7 versus 50.4 prior supplier deliveries 48.5 versus 48.1 prior

Dollar is enjoying another rally, further solidifying its position as the strongest currency for the week so far, following an upbeat ISM Services report that well exceeded market expectations. The data affirms services sector’s dominant role in driving US economy. Additionally, it highlighted a robust uptick in both employment and prices, arguing the specter of

Gold slipped to one-week lows on Wednesday, falling further after posting its biggest intra-day decline in a month in the last session, as U.S. Treasury yields and the dollar advanced on expectations that interest rates are likely to remain high. FUNDAMENTALS * Spot gold was subdued at $1,924.41 per ounce by 0058 GMT, after posting

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Australian Dollar finds itself on shaky ground today, trading lower due to lackluster investor sentiment, and stays soft after RBA’s decision to keep interest rates unchanged, a move that was widely anticipated. New Zealand Dollar is tracking its Australian counterpart, emerging as the day’s second-worst performer. Canadian Dollar is not far behind, showing weakness ahead