Gold prices are set to end with weekly gains buoyed by a weaker greenback and lower bond yields following the US Fed’s dovish commentary which has triggered a nosedive in the dollar index (DXY). Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,490
Month: December 2023
Dollar is having a notable rebound in early US trading session, buoyed by comments from New York Fed President John Williams. Speaking on CNBC’s “Squawk Box,” Williams stated, “we aren’t really talking about rate cuts right now,” adding that it is “premature” to consider rate cuts as early as March. This assertion by a key
Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT — The European Central Bank meets this week with investors closely monitoring to see when the Frankfurt institution might start to cut interest rates. It will be too early to declare victory in the battle against inflation, but with
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT An Olive Garden restaurant in Fremont, California, US, on Thursday, Sept. 14, 2023. Darden Restaurants Inc. is scheduled to release earnings figures on September 21. Bloomberg | Getty Images Darden Restaurants on Friday reported quarterly earnings that beat expectations and raised its annual guidance, helped
Share: AUD/JPY holds positive ground around 95.15 during the early European session on Friday. Chinese leaders agreed to set China’s 2024 growth target at around 5.0% and target a budget deficit of 3% of GDP in 2024. The report that the Bank of Japan (BoJ) might exit its negative rate policy sooner than expected lends
The GBPUSD ran higher today spurred on by follow-through USD selling (GBPUSD buying) after the more dovish Fed, and follow through buying of the GBPUSD pair on the back of a more hawkish BOE today. The move to the upside worked its way toward the 1.2800 where old swing high area between 1.2789 and 1.27994
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 inched down on Friday but stayed on track for a weekly gain, as prospects of the U.S. Federal Reserve lowering borrowing costs dented the dollar and Treasury yields, boosting demand for the safe-haven asset. FUNDAMENTALS * Spot gold was down 0.1% at $2,033.29 per ounce, as of 0113 GMT. However, bullion has risen
Investor sentiment was buoyed strongly by Fed’s projection of three rate cuts in the upcoming year. This significant dovish turn by the Fed has sparked a wave of investor optimism, propelling the DOW to record-breaking high. This buoyant mood has largely permeated the Asian markets, although Japan has remained an outlier in this trend. Dollar
BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Central Bank on Thursday held interest rates
Share: Silver posts gains of more than 6% in the last couple of days, sponsored by a dovish Fed. US Treasury bond yields plunge continued for the second straight day. XAG/USD is upward biased in the near term but must reclaim $25.00 to challenge year-to-date (YTD) highs. Silver price climbs and reclaims the $24.00 figure
The EURUSD – coming into the trading day – had resistance against the 61.8% retracement of the 2023 trading range at 1.09594 (see video above). When the price in the early North American session moved through that level without much in the way of resistance, the price extended higher and is now up-testing the 1.1000
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 futures surged on Thursday amid a slip in the dollar index (DXY) and bond yields following a dovish commentary by US Federal Reserve Chair Jerome Powell. Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,380 around 9:15 am, up Rs 1,182 or
Sterling and Euro jumped sharply following the decisions by BoE and ECB to leave interest rates unchanged, in line with market expectations. Notably, both central banks diverged from Fed’s recent dovish turn, with explicit statements pushing back on the speculation of rate cuts. Bank of England Governor Andrew Bailey, speaking after the rate announcement, emphasized
Consumers showed unexpected strength in November, giving a solid start to the holiday season as inflation showed signs of continued easing. Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%, the Commerce Department reported Thursday. The total is adjusted
Share: Dow Futures (YM) has broken to new all-time high, suggesting the trend remains firmly bullish. It also suggests the next bullish cycle has started. Short term, rally from 11.10.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 11.10.2023 low, wave ((i)) ended at 36337 and dips in
US 2 year yield is trading at lowest level since June The US 2-year yield is now down -29 basis points at 4.439%. That is the lowest level since June and the largest one-day decline since March. Looking at the daily chart the prices approaching its 50% midpoint of the move up from the March
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