Precious metals opened flat in today’s session with gold August futures contracts at Rs 68,272 per 10 gram, which is up by merely 0.01% or Rs 4 while silver September futures contracts were trading at Rs 81,450/kg, up by 0.2% or Rs 163. Gold prices have recovered by nearly Rs 900 from its low of
Month: July 2024
Dollar remains firm against European majors in relatively quiet trading today. Despite slightly better-than-expected GDP data from France, Euro has not gained significant support. While today’s Eurozone GDP and tomorrow’s CPI flash are important, they are unlikely to cause substantial movements in Euro. Traders’ attention is firmly on tomorrow’s FOMC rate decision and the accompanying
A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images British oil giant BP on Tuesday reported stronger-than-expected net profit for the second quarter and raised its dividend despite previously warning of significantly lower refining margins. The oil
Gold price remains depressed amid a modest USD strength, though the downside seems limited. September Fed rate cut bets might cap further USD gains and lend support to the XAU/USD. Traders also seem reluctant ahead of the key central bank event risks and important macro data. Gold price (XAU/USD) struggled to find acceptance above the
The price of crude oil is settling at $75.81. That is down $-1.35 or -1.75%. The high-priced today reached $77.69. The low price was at $75.35. The low was the lowest since June 7. Fundamentally, summer doldrums with weak demand from China is being offset by Middle East violence. Technically looking at the daily chart,
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 firmed on Monday amid expectations of a U.S. rate cut in September and rising geopolitical tensions in the Middle East, while focus shifted to the Federal Reserve‘s policy meeting due later this week. FUNDAMENTALS * Spot gold was up 0.5% at $2,397.65 per ounce, as of 0025 GMT. U.S. gold futures climbed 0.7%
Dollar’s rally is gaining significant traction today, as major European currencies face increasing selling pressure. The break of last week’s lows in both EUR/USD and GBP/USD pairs suggests that the greenback’s rise is poised to extend further in the near term. However, the sustainability of this rally will largely depend on market reactions to critical
In this article MCD Follow your favorite stocksCREATE FREE ACCOUNT McDonald’s fast food restaurant in Manhattan, New York, United States of America, on July 6th, 2024. Beata Zawrzel | Nurphoto | Getty Images After a challenging second quarter, McDonald’s executives told restaurant operators and analysts they are refocusing on how to recapture consumers with deals,
The Pound Sterling recovers as investors expect the BoE to cut interest rates on Thursday. A few BoE policymakers may hesitate to vote for a dovish decision due to high inflation in the UK service sector. The Fed is widely anticipated to maintain the status quo. The Pound Sterling (GBP) posts a fresh two-week low near 1.2810
Fundamental Overview Bitcoin eventually managed to break above the key 67275 resistance as the risk mood improved in the latter part of last week. From a macro perspective, nothing has changed as the Fed is going to cut into resilient growth, which should ultimately be a strong bullish driver for the market. Over the weekend,
Headlines: Markets: USD leads, GBP and NZD lag on the day European equities mostly higher; S&P 500 futures up 0.4% US 10-year yields down 4 bps to 4.158% Gold up 0.1% to $2,388.23 WTI crude down 0.6% to $75.52 Bitcoin up 3.2% to $69,629 It was mostly a quiet session as markets are gearing up
Gold August futures contracts at MCX opened flat on Monday at Rs 68,160 per 10 gram, which is down by merely 0.04% or Rs 26 while silver September futures contracts were trading at Rs 81,700/kg, up by 0.4% or Rs 329. The prices of gold have fallen by Rs 3,400/10gm in July so far while
Trading in the forex markets has been notably subdued during the Asian session today, even as major Asian stock indexes showed strong rebounds. This muted activity in currency trading is not surprising given that it’s a typical Monday, coupled with an ultra light economic calendar. However, significant volatility is anticipated later in the week with
The Philips office building in Warsaw, Poland, on July 29, 2021. Nurphoto | Nurphoto | Getty Images Shares of Dutch device maker Philips jumped more than 10.5% in early deals Monday after the company reported better-than-expected second-quarter earnings. The stock pared gains slightly to trade up 10.45% by 9:32 a.m. London time. Comparable group sales
The Australian Dollar gains ground as the RBA is expected to hold interest rates next week. National Australia Bank (NAB) anticipates that the RBA’s cash rate will remain stable at 4.35% until May 2025. The US Dollar loses ground as the Fed is expected to deliver three rate cuts this year. The Australian Dollar (AUD)
The USDCAD broke above the “Red Box” that I have been talking about for weeks and weeks. That led to buying yesterday, but the high extreme price from April could not be broken convincingly and there was a rotation lower. However, buyers did come in near the high of the “Red Box” (see chart below
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
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