“We are relatively bullish on gold, and we believe gold will continue to give an impressive return next year. Comex gold can rally to $2,100/$2,180 levels per ounce in 2024 and is expected to trade in a broader range of $1,925 to $2,180 in 2024, Anuj Gupta, Head Commodity & Currency, HDFC Securities said. The
Month: December 2023
Canadian Dollar jumps against US Dollar in early US session. The move is primarily attributed to Canada’s CPI data, which came in stronger than anticipated, signaling persistent inflationary pressures. Despite this uptick, CAD is not leading the pack, as it faces stiff competition from others, including the buoyant Sterling. Pound’s significant rise can be traced
Share: Australian Dollar remains bullish after the RBA meeting minutes release. Australian policymakers suggest further tightening will depend on data and assessment of risks. New York Fed President John Williams dismissed speculation regarding a potential rate cut in March. The Australian Dollar (AUD) moves on an upward trajectory for the sixth successive session on Tuesday as
Here’s a snapshot of 10-year yields and 30-year yields for Japanese government bonds (JGBs): The former is the more crucial one and is down roughly 3 bps to 0.641% currently. That’s a far cry from the sudden spike up to 0.80% earlier this month when traders took BOJ governor Ueda’s remarks out of context for
Gold traded in a tight range on Tuesday as investors waited for more economic data in the US to gauge which way the Federal Reserve could move. While a few Fed officials have pushed back against surging market expectations of rate cuts, markets are still pricing in about a 69% chance of a Fed rate
Share: AUD/USD pulls back from recent five-month highs of 0.6735 amid a rebound in US Treasury bond yields. Regional Federal Reserve officials had pushed back against rate cut expectations. Traders await the Reserve Bank of Australia (RBA) last meeting minutes. The AUD/USD retreats from five-month highs of 0.6735 and drops below the 0.6700 figure courtesy
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices struggled for momentum in early Asian hours on Monday as investors looked forward to U.S. inflation data due later this week for more clarity on the Federal Reserve‘s interest rate path after a dovish pivot last week. FUNDAMENTALS * Spot gold was little changed at $2,019.49 per ounce, as of 0041 GMT. U.S.
Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank’s communication. These changes
Share: The Japanese Yen ticks lower against the US Dollar for the second straight day on Monday. The prevalent risk-on environment is seen as a key factor undermining the safe-haven JPY. The divergent Fed-BoJ policy expectations act as a headwind for USD/JPY and cap gains. Traders also seem reluctant to place aggressive bets ahead of
TGIF. The JPY is the strongest and the EUR is the weakest as the North American session begins. The USD is mostly but moderately lower. The greenback is only higher vs the EUR and GBP. Yesterday, the EURUSD moved higher on follow through buying after the FOMC rate decision. The ECB did not thrill to
The dollar staged a slight bounce towards the end of last week following comments by NY Fed president, John Williams, here. One can argue whether or not it is taken out of context but it speaks to the stretched positions in markets in recent weeks. And if anything else, it is a good excuse as
Gold prices struggled for momentum in the early trade on Monday as Street awaits for US inflation data due later this week for more clarity on the Federal Reserve’s interest rate path after a dovish pivot last week. The lackluster trade was despite the dollar index trading in red. Taking cues from the price of
New Zealand Dollar strengthens broadly in an otherwise quiet Asian session today, leading Aussie along with it. This notable rise can partly be attributed to two key domestic factors: a significant improvement in consumer sentiment and robust data from the country’s services sector. In the broader context, Kiwi’s strength is also accentuated by monetary policy
Share: DXY Index shows resilience despite the worst weekly performance over a month, hovering at 102.60. The US Dollar was lifted by strong S&P Global Services PMI figures from December. Dovish bets on the Fed may limit the upward movement. The US Dollar (USD), measured by the DXY index, is trading at 102.60, posting
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
UPCOMING EVENTS: Monday: US NAHB Housing Market Index. Tuesday: RBA Meeting Minutes, BoJ Policy Decision, Canada CPI, US Building Permits and Housing Starts. Wednesday: PBoC LPR, UK CPI, US Consumer Confidence, BoC Summary of Deliberations. Thursday: Canada Retail Sales, US Q3 GDP Final, US Jobless Claims. Friday: Japan CPI, UK Retail Sales, Canada GDP, US
Reserve Bank of India (RBI) has set Monday, December 18 as the date for premature redemption of SGB 2017-18 Series XII of the sovereign gold bond. The price for premature redemption is Rs 6,199 per gram. Premature redemption in the SGB scheme is permitted after the completion of the fifth year from the date of
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