MCX Gold prices got a breather on Friday from the ongoing correction as the dollar index slipped slightly. Gold traded with a positive bias at the market opening time. The MCX December gold futures were trading up by Rs 7 or 0.01% from the Thursday closing price at Rs 57,853 per 10 gram on the
Month: September 2023
The global markets experienced a noticeable shift in momentum as major US stock indexes concluded with substantial gains overnight, and treasury yields took a step back. This favorable swing persisted into Asian trading hours, marked by a remarkable rebound in Hong Kong stocks. Australian Dollar has been on the upswing, further bolstered by Copper’s resurgence
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In this article NKE Follow your favorite stocksCREATE FREE ACCOUNT A shopper leaves a Nike store along the Magnificent Mile shopping district with a purchase in Chicago, Dec. 21, 2022. Scott Olson | Getty Images Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but
Share: EUR/USD fails to attract any follow-through buying and oscillates in a range on Friday. Bets that any further ECB rate hikes may be off the table act as a headwind for the Euro. The prospects for further policy tightening by the Fed underpins the USD and cap gains. Traders now look to the Eurozone
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Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session. U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%,
The NASDAQ and S&P closed higher for the 2nd consecutive day. Admittedly the S&P index only rose marginally (0.02%) yesterday, but it still was a victory in the win column. Today, the gain was a little more respectable at 0.59%. The final numbers for the major indices are showing: Dow industrial average +116.07 points or
Dollar is experiencing a broad retreat today, reflecting a phase of consolidation after its notable advancements in the recent days. Market participants are seemingly recalibrating their positions, with the closure of the month in sight and in anticipation of pivotal economic data slated for release next week. While the rise in US 10-year yield continues
Despite its roots embedded in Bitcoin (BTC) lending, lending platform Ledn has announced the launch of an Ethereum (ETH) yield offering following user requests for a shielded alternative to manually staking Ether. The Cayman Island’s firm has added an ETH offering to its Growth Accounts products, which currently offers users ring-fenced facilities to earn interest
Share: Pound Sterling advances to 1.2200 as the risk appetite of the market participants improved. The UK economy is likely to continue to face the wrath of high inflation and slowing demand. High inflation and slowing labor demand could trigger stagflation risks in the UK economy. The Pound Sterling (GBP) recovered to near 1.2200 after
It looks like the more hawkish than expected FOMC Dot Plot last week was kind of a wakeup call for the market as it’s been selling off with almost no pullback ever since. The resilience in the economy is keeping the Fed on the hawkish camp as it wants to see more weakness in the
MCX Gold prices traded at six month lows on Thursday getting beaten by the uptick in the dollar index (DXY) which is inching towards the 107 mark against a basket of six major currencies. The MCX December gold futures were trading down by Rs 91 or 0.16% from the Wednesday closing price at Rs 58,192
The institutes (4 German, 1 Austrian) had previously expected a growth of 0.3% in the German economy during the spring. So, this is a significant revision lower as they expect higher interest rates and high inflation to weigh on consumption activity. 2023 GDP growth is now forecast to be -0.6%, then +1.4% in 2024 and
Dollar’s strength remains unabated, particularly against its European counterparts and Yen. The greenback rose alongside 10-year yield, which soared past the 4.6% mark overnight, a level unseen in over 15 years. The surging global treasury yields are a clear indicator of the market’s expectation for a prolonged period of restrictive monetary policies by central banks
Washington, D.C. – March 17, 2023: President Joe Biden and House Speaker Kevin McCarthy speak outside the Annual Friends of Ireland Luncheon at the U.S. Capitol. Drew Angerer | Getty Images News | Getty Images The U.S. is in a weaker position now than when S&P downgraded its sovereign credit rating in 2011, according to
Share: GBP/USD builds on the overnight bounce from a multi-month low and edges higher on Thursday. The USD take a brief pause after rising to a fresh YTD peak and lends some support to the major. The divergence Fed-BoE policy outlook might continue to act as a headwind and cap the upside. The GBP/USD pair
Earlier I wrote on the EURUSD as sellers pushed lower: The momentum has continued today with a break into a swing area between 1.04846 and 1.05335. In between sits the natural support at 1.0500. I added: This swing area should attract some dip buyers. If the 1.04846 level is broken, I would look for buyers
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