Gold October futures contracts at MCX opened higher today at Rs 72,230 per 10 gram, which is up by 0.56% or Rs 406 while silver December futures contracts were trading at Rs 87,727/kg, down by 0.73% or Rs 632. In the last 2 days, the prices of gold have gained Rs 1,300/10 gm while silver
Month: September 2024
EUR/USD may have reached too far, too fast in midweek recovery. ECB rate cut bump proved fleeting as markets pivot to focus on Fed. Investors are jostling for position as rate market weigh odds of a 50 bps Fed cut. EUR/USD kicked back into the 1.1100 handle on Friday, before market forces weighed on the
The AUDUSD is higher for the week after dipping lower earlier in the week where the 200 day moving average stalled the fall. The subsequent move to the upside was able to extend above resistance rotated back down toward support and extend above resistance and and step pattern defined by technical levels. Today the run
UPCOMING EVENTS: Monday: New Zealand Services PMI. Tuesday: Eurozone ZEW, Canada CPI, US Retail Sales, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Wednesday: UK CPI, US Housing Starts and Building Permits, BoC Summary of Deliberations, FOMC Policy Decision. Thursday: New Zealand Q2 GDP, Australia Labour Market report, BoE Policy Decision, US
Indian Railway Finance Corporation Share Price 168.14 10:54 AM | 13 Sep 2024 1.12(0.68%) One97 Communications Share Price 664.9 10:54 AM | 13 Sep 2024 -1.11(-0.17%) YES Bank Share Price 23.72 10:54 AM | 13 Sep 2024 0.29(1.24%) ITC Share Price 513.8 10:54 AM | 13 Sep 2024 -5.71(-1.1%) HDFC Bank Share Price 1661.25 10:54
The NZD/JPY pair has been in a downtrend, declining in four of the last six sessions. The RSI is oversold and has a declining slope, indicating that selling pressure is increasing. The MACD is also negative and the histogram is rising. Friday’s session saw the NZD/JPY pair decline by more than 1% to 86.60 marking another
The USDCAD closed the week at 1.3558. The current price is a little higher at 1.3580. The high price for the week reached 1.3622 on Wednesday. That move took the price above a swing area with the high at 1.36188, but quickly reversed lower. The high price stalled ahead of the 38.2% of the move
NASDAQ and S&P indices end the week with five straight days of gains As the day and week comes to a close, the JPY is ending the day as the strongest of the major currencies and the NZD is the weakest. The US is ending the day mixed with most of the declines coming vs
Gold prices powered higher on Friday, beating record levels, as a boost in bullish momentum fuelled by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates was catalysed by fund inflows and a drop in the dollar. Spot gold was trading at record levels, up 0.9% at $2,582.04 per ounce
US Federal Reserve Chair Jerome Powell arrives to testify before the Senate Banking, Housing, and Urban Affairs Hearings to examine the Semiannual Monetary Policy Report to Congress at Capitol Hill in Washington, DC, on July 9, 2024. Chris Kleponis | AFP | Getty Images Federal Reserve officials head into their policy meeting Tuesday closer to
It was a solid quarter for the companies in our stock portfolio, with the bulk of our names reporting what we felt were good-to-great earnings reports. Continued economic growth on the back of a resilient consumer and increasing business confidence ahead of what most expect to be a lower interest rate environment helped drive the
The negative outlook remains, RSI and MACD suggest bearish momentum. The multiple rejections by the 20-day SMA suggest that the buyer’s traction is too weak. A break from above mentioned average would improve the outlook. In Friday’s session, the EUR/GBP pair fell slightly by 0.15% to 0.8435, showcasing a negative technical outlook. Bears continue to
The financial markets have been more influenced by speculations than by concrete economic data, as anticipation builds ahead of Fed’s interest rate decision on September 18. Recent US economic indicators, including the latest CPI report and the prior week’s non-farm payrolls, pointed toward a cautious and modest 25bps rate cut. However, traders and investors chose
The price of crude oil is now trading in negative territory and $69.08. That is down from a high of $70.32. Looking at the hourly chart, the price action this week did move above its 200-hour moving average (currently at $68.93) on its way to the high today. That move higher today also exceeded above
China retail sales, industrial output, investment data for August 2024 – another round of disappointing results. Retail Sales +2.1% (YoY) (Aug) expected 2.5%, prior 2.7% Industrial Production +4.5% (YoY) (Aug) expected 4.8%, prior 5.1% Fixed Asset Investment +3.4$(YTD) (YoY) (Aug) expected 3.5%, prior 3.6% Unemployment 5.3% expected 5.2%, prior 5.2% Also published were home prices
Oil prices fell on Friday as U.S. Gulf of Mexico crude production resumed following Hurricane Francine and rising data showed a weekly rise in U.S. rig count. Brent crude futures settled at $71.61 a barrel, down 36 cents, or 0.5%. U.S. West Texas Intermediate crude (WTI) settled at $68.65 a barrel, down 32 cents, or
Maremagnum | Corbis Documentary | Getty Images LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday. Gross domestic product (GDP) came in below the expectations of economists polled by Reuters, who had forecast growth of 0.2%. The country also
For very good reason the market is preoccupied by the potential policy decisions of the Federal Reserve, Rabobank’s Senior FX Strategist Jane Foley notes. Risk of EUR/USD dips back to 1.10 “In July, market expectations regarding a possible September rate cut from the Fed began to firm up. Consequently, since the start of that month
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