Amid rising treasury yields and some profit booking, gold prices on MCX for June futures contracts fell Rs 126 or 0.18% to trade at Rs 71,451 per 10 grams while MCX July silver contracts were up Rs 154 or 0.17% to Rs 90,591 per kg. Gold is experiencing its biggest weekly decline this year after
Month: May 2024
Dollar’s rebound is gathering momentum, as fueled by yesterday’s data indicating a resurgence in the services sector, which could impede disinflation progress. While fed fund futures still reflect over 50% probability of a rate cut in September, there is now a 0.6% chance of a rate hike—an occurrence not seen for quite some time. Currently,
The war between Russia and Ukraine — both major producers of food commodities and energy — has disrupted global production, trade and supply in these areas, leading to a surge in prices. Solstock | E+ | Getty Images LONDON — U.K. inflation came in hotter than expected with a drop to 2.3% in April, the
In this article NVDA Follow your favorite stocksCREATE FREE ACCOUNT Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Tuesday, March 19, 2024. David Paul Morris | Bloomberg | Getty Images Nvidia reports fiscal first-quarter earnings on Wednesday after the bell.
EUR/USD eases lower as risk-off flows bolster the Greenback. A spike in US Services PMIs reignite fears of sticky inflation. Fed rate cut hopes hinging in easing services inflation stumble. EUR/USD headed lower on Thursday, driven closer to the 1.0800 handle after an unexpected upswing in US Services Purchasing Managers Index (PMI) figures sparked renewed
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The North American session started with the USD as the weakest of the major currencies. And then US initial jobless claims came in better than expected – moving back to 215K. That took the concern of employment from a few weeks ago when the number suddenly spiked to 231K back out of the equation. Jobs
Gold fell to more than a week’s low on Thursday, extending its decline for a third straight session, as investors grew apprehensive over U.S. rate cut timings and on strength in U.S. business activity. Spot gold fell 1.4% to $2,346.07 per ounce, its lowest since May 14, as of 1557 GMT. The non-yielding bullion hit
As trading progresses into US session, activity in the forex markets remains relatively muted. Euro is showing signs of recovery ahead of key support levels against Dollar and crucial support against Sterling. Eurozone PMIs revealed that economic recovery is strengthening, with Germany, the region’s largest economy, finally catching up. Despite this positive data, Euro’s gains
Rows of new Tesla cars are seen in a holding area near a customer collection point on April 15, 2024 in London, England. Leon Neal | Getty Images Soaring auto insurance costs have been a principle driver behind inflation over the past year, but there could be relief on the way, according to Bank of
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. U.S. stocks were mixed on Thursday. The Nasdaq hit a record high after Club holding Nvidia’s spectacular quarterly earnings report on Wednesday. The leading AI chipmaker once again crushed analysts’
UK Services PMI dropped to 52.9 in May. Manufacturing PMI in the UK expanded to 51.3. in May. GBP/USD holds higher ground near 1.2740 after mixed UK business PMIs. The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rebounded from 49.1 in April to 51.3 in May, beating 49.5 expectations. Meanwhile, the Preliminary UK
Fundamental Overview Despite some softness against the other major currencies, the USD continued to gain against the JPY as the Yen remains under pressure from risk-on sentiment due to positive global growth impulse and the stark yield differential with the Fed, which is expected to keep rates steady at least until September. In such an
Nvidia reported earnings yesterday after the close and not surprisingly it beat expectations across the board. We saw a rally in the S&P 500 futures as a result given the big weight of Nvidia on the index. The downward spike triggered by the FOMC minutes was clearly a dip-buying opportunity since there was nothing new
Steadied by hawkish Fed comments, gold prices on MCX for June futures contracts opened flat at Rs 72,575 per 10 grams, Rs 471 or 0.64% lower while MCX July silver contracts were down by nearly Rs 1,600 or 1.72% at Rs 91,415 per kg. Gold steadied after its biggest drop this month, influenced by hawkish
Trading has been relatively quiet in Asian session today. Dollar regained some ground overnight following hawkish minutes from the latest FOMC meeting, which revealed that several members are prepared to support further rate hike if necessary. Despite this, the greenback lacks clear follow-through momentum at present. For a more sustained near-term rebound, Dollar will need
JPMorgan Chase‘s chairman and CEO Jamie Dimon says the U.S. economy could see a “hard landing.” When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?” The CEO was speaking at the JPMorgan
In what was the most anticipated quarter this earnings season, Nvidia far outpaced lofty expectations on the top and bottom lines. Even better was a big revenue guide and a broader vision from CEO Jensen Huang that reinforced the notion that companies and countries are partnering with the AI chip powerhouse to shift $1 trillion
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