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Month: July 2024
Gold has outperformed Nifty over the first half of 2024, delivering 13.37% returns compared to the 50-stock index which has yielded 10.5% in the first six months. In rupee terms, the MCX gold contract has gained nearly Rs 8,400 per 10 grams while Sensex surged 2,279 points at the end of June 30, 2024. Summing
Yen’s renewed selloff captured some attention in the otherwise subdued Asian session today. With no new comments from Japanese authorities, market participants are left to speculate on when and where the next intervention might occur. A pivotal moment on the horizon is BoJ’s meeting on July 31, where the central bank is expected to outline
[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell joins a panel including his global counterparts Tuesday at a European Central Bank forum. Powell will join ECB President Christine Lagarde and Brazil Central Bank
AUD/USD continues sideways trading around 20-day SMA. Fed Minutes on Wednesday follow RBA’s turn. May’s Retail Sales from Australia and US ADP figures are also due on Wednesday. Powell showed confidence in inflation coming back down to 2% sooner than expected. Tuesday’s session witnessed the Australian Dollar (AUD) clearing losses against the US Dollar following
The AUDUSD buyers remain in control with the price above the 100/200 bar MA on the 4-hour chart. Both those MAs come in at 0.6644. The price is currently near 0.6662. Going into the close – and into the new trading day – those MA will be the key barometer for the pair. Staying above
Pres. Biden is to give an interview with ABC News with the first clip airing on Friday. The question is will it be live? Will it be unedited? Will the questions be telegraphed before the interview? The American people and the world want to see live, in the moment. There needs to be more transparency
Oil prices were little changed on Tuesday, holding near the two-month highs reached in the previous session, on expectations for rising fuel demand from the summer travel season and possible U.S. interest rate cuts that could boost economic growth. Brent crude futures rose 20 cents to $86.80 per barrel as of 0142 GMT after gaining
In the forex market, clear weakness of Yen, Swiss Franc, and Kiwi contrasts with a broader sense of indecision elsewhere. Dollar’s rally attempt quickly lost momentum as it struggled to break through near-term resistance levels against both the Euro and Sterling. Additionally, the greenback remains stuck within familiar ranges against the Aussie and Loonie, a
U.S. Federal Reserve Bank Chair Jerome Powell announces that interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin building on June 12, 2024 in Washington, DC. Kevin Dietsch | Getty Images Federal Reserve Chair Jerome Powell expressed satisfaction Tuesday with the progress on inflation over the past year
Gold is trading in a narrow range as the outlook for a key driver – US interest rates – remains opaque. The Fed continues to weigh up the pros and cons of cutting interest rates, a potentially positive event for Gold. Multiple geopolitical factors suggest a broadly bullish backdrop for the precious metal. Gold (XAU/USD)
The NZDUSD is trading near session lows and in the process is testing its converged 100 and 200-day moving averages near 0.6068. When both the 100 and 200 day moving averages are converged, it represents a key risk/bias defining level for both buyers and sellers. Moving below with momentum and traders will target the 50%
The dollar showed much resilience in trading yesterday, despite a softer US ISM manufacturing report here. One of the reasons for that has been the continued climb in bond yields, with 10-year yields in the US rising to 4.49% overnight. It is settling around 4.45% so far today but that is still up 26 bps
Gold August futures contracts at MCX opened flat on Tuesday at Rs 71,689 per 10 gram, up 0.05% or Rs 35 while silver September futures contracts were trading at Rs 89,867/kg, up by 0.13% or Rs 117. On Monday, gold and silver settled on a flat note in the international and domestic markets. Gold August
Dollar surged across the board overnight and stayed firm in Asian session, fueled by the strong rally in benchmark US Treasury yields. This rally is partly attributed to rising expectations of a Donald Trump victory in the upcoming presidential election. Analysts suggest that a Trump win would likely lead to heightened tariffs and expanded fiscal
David A. Steinberg, CEO of Zeta Global Holdings, at the New York Stock Exchange. Source: NYSE Measuring the strength of the sprawling U.S. economy is no easy task, so one firm is sending artificial intelligence in to do the job. The Zeta Economic Index, launched Monday, uses generative AI to analyze what its developers call
US Dollar recovers after slight losses following ISM PMIs data. Dollar finds cushion on high US Treasury yields. Signs of disinflation have begun to surface in the US economic landscape, which might justify bringing cuts forward. As the week begins, the US Dollar based on the DXY Index has cleared daily losses and currently sits
Crude oil futures are settling at $83.38. That is up $1.84 or 2.26% on the day. The gain is the largest one day gain since June 10 when the index rose 2.93% and driven by expectations of higher summer demand and concerns over potential supply shortages due to OPEC+ production cuts. Oil prices increased by