Oil prices were little changed on Friday but were set for a weekly rise amid optimism economic stimulus efforts will prompt a recovery in China, the world’s biggest oil importer. Brent crude futures fell 1 cent to $73.25 a barrel by 0145 GMT. U.S. West Texas Intermediate crude was at $69.60, down 2 cents, from
Month: December 2024
Silver price drops sharply to near $29.60 as US bond yields rise on expectations that the Fed will follow gradual rate-cut cycle in 2025. Heightened geopolitical tensions in Middle East failed to uplift the Silver price. The outlook of the Silver price has weakened amid a breakdown of the upward-sloping trendline around $30.00. Silver price
Yen saw broad declines during Asian session, briefly falling below 158 against Dollar, but the selloff was quickly mitigated by verbal intervention, as least partially. The decline was triggered by weaker-than-expected Tokyo inflation data. Stripping out energy and food prices, core-core inflation remained relatively stable, signaling limited urgency for BoJ to proceed with further rate
The EUR/USD is edging higher, reaching a new daily high while breaking above the 50% midpoint of the trading range since the September 2022 low, which stands at 1.04053 (see daily chart). On the hourly chart, the pair has been oscillating above and below this midpoint over the past five trading days. Following the FOMC
At the end of the day, policymakers can and will spin the narrative to however they see fit with their decision. And with the BOJ these days, the leaked reports leading up to their meeting seem to be the more important part of the narrative. The latest inflation numbers from Japan’s capital here today might
Gold February futures contracts at MCX opened flat on Friday at Rs 76,900 per 10 gram, which is up by 0.1% or Rs 73 while silver March futures contracts were trading higher at Rs 89,994/kg, up by 0.4% or Rs 358.Displaying some positive momentum, gold prices surged by Rs 250/10 grams in the last one
AUD/USD softens to around 0.6215 in Friday’s early Asian session. Fewer Fed rate cuts bets and Trump’s policies continue to support the USD. RBA’s Meeting Minutes revealed the board had grown more confident about inflation, but risks persisted. The AUD/USD pair remains on the defensive around 0.6215 during the early Asian session on Friday. The incoming
The AUDUSD moved higher in the early Asian trading after the Christmas hiatus and the move higher took the price above the 100 hour MA (blu e line currently at 0.6239). The break gave buyers some hope in the short term, but the high price ended up stalling at the underside of the broken trend
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
2024 Recap – Trends and Lessons The base metals industry faced a volatile year in 2024, characterized by persistent macroeconomic challenges and shifting demand patterns. The U.S. The Federal Reserve’s higher-for-longer rate stance capped speculative sentiment, while inflationary pressures and concerns over a global economic slowdown shaped investment flows.China, the world’s largest consumer of base
The US Dollar trades sideways and remains unphased by headlines out of China about ramping up bond sales next year. Chinese policymakers plan to sell a record 3 trillion yuan of special treasury bonds in 2025, the highest on record. The US Dollar Index (DXY) resides above 108.00, very close to eke out a fresh two-year
This according to the NPC Standing Committee, as announced yesterday. For now, the agenda is said to encompass “reviewing the government work report, and examining the report on the implementation of the annual plan on national economic and social development for 2024 and the draft plan on national economic and social development for 2025”. Adding
Gold February futures contracts at MCX opened slightly higher on Thursday at Rs 76,589/10 gram, which is up by 0.42% or Rs 319 while silver March futures contracts were trading flat at Rs 89,570/kg, up by 0.27% or Rs 244. Gold prices remained flat this week so far, gaining merely Rs 169/10 grams, while the
GBP/USD trades near 1.2570 as volume remains low during the holiday week. The US Dollar Index DXY stays stable around 108.15, showing little movement. Fed’s gradual interest rate cuts expectations weigh on the Greenback. The GBP/USD pair has seen a modest rise to 1.2550, as low trading volume characterizes the market this week due to
The USD/JPY moved lower on Friday after reaching its highest level since July 18, 2024. The pair hit a high of 157.92, entering a key swing area on the daily chart between 157.665 and 158.419, but momentum failed to hold. The release of lower-than-expected PCE data on Friday contributed to the decline. As the price
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 price slipped Rs 100 to Rs 78,600 per 10 grams in the national capital on Tuesday, according to the All India Sarafa Association. The precious metal had closed at Rs 78,700 per 10 grams in the previous trading session. However, silver jumped Rs 500 to Rs 90,500 per kg against the previous close of
The GBP/USD pair has seen a modest rise to 1.2550, as low trading volume characterizes the market this week due to the upcoming Christmas holidays. The pair has been consolidating, with minimal price action as the market adjusts to a quiet holiday period. Similarly, the US Dollar Index (DXY) is largely flat, hovering above 108.00, showing no significant changes as traders
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