Month: January 2024

Gold prices held steady on Wednesday, as investors refused to make big bets ahead of a key U.S. inflation print that could offer more clarity on when the Federal Reserve might begin cutting interest rates. FUNDAMENTALS * Spot gold rose 0.1% to $2,031.30 per ounce, as of 0151 GMT, trading in a range of about
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Share: WTI Oil steadies near $72 after a positive close on Tuesday.  Overnight API was a chunky drawdown of over 5 million barrels.  The DXY US Dollar Index holds above 102.00, while traders keep powder dry ahead of Thursday’s US inflation reading.  Oil prices are going nowhere despite quite a few bullish elements to take
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Currency trading today remained lackluster, characterized by limited movements across major pairs and crosses. Key economic data releases, ranging from Japan’s Tokyo CPI, and retail sales figures from Australia and the Eurozone, to trade balance data from Canada and US, failed to significantly influence the markets. Japanese Yen is currently a marginally stronger currency, continuing
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Share: GBP/USD gains some confidence for new higher high [Video] GBPUSD stepped on the 20-day simple moving average (SMA) and climbed back above the broken short-term support trendline from October at 1.2720, reviving hopes that the soft four-day bullish wave could gain extra legs in the coming sessions. Read more… [embedded content] GBP/USD Price Analysis: Consolidates
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Gold bounced back slightly on Tuesday amid a downturn in the dollar index (DXY) even as investors remained wary ahead of the crucial US inflation numbers due for an announcement later this week. Taking cues from the international market, MCX February gold futures were trading with a positive bias in the opening trade. They were
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Today’s Asian trading session has been relatively subdued. Japan reported deeper-than-expected contraction in household spending, while Tokyo CPI core showed slowdown in line with market expectations. However, Yen’s near-term rebound seems to be losing steam as these data releases have not provided significant market impetus. Meanwhile, Nikkei index returned from holiday with a bounce, though
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