Gold prices for August futures have fallen by Rs 3,500 per 10 gm in the last seven trading sessions following the customs duty cuts announced by the government in the Union Budget. The precious metal is currently trading at Rs 69,213/10 gm. Domestic gold prices plunged drastically to Rs 67,400/10 gm — the lowest since
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Yen rose broadly today after the BoJ raised interest rates for the second time this year, and maintained hawkish bias. However, buying momentum has not been decisive. This lack of strong momentum can be attributed to the fact that the rate hike decision was likely well priced in by the markets. Nikkei’s rebound following the
Aaron P | Bauer-Griffin | GC Images | Getty Images Europe’s largest lender HSBC posted a narrow decline in pretax profit in the first half of the year, but beat expectations on the back of a high-interest rate environment. The bank posted pretax profit in the six months to June of $21.56 billion, down from
Australia’s Consumer Price Index (CPI) rose 1.0% in the second quarter (Q2) of 2024, compared with the 1.0% increase seen in the first quarter, according to the latest data published by the Australian Bureau of Statistics (ABS) on Wednesday. The market consensus was for a growth of 1.0% in the reported period. Annually, Australia’s CPI inflation rose
The EURJPY moved higher earlier today, breaking above the 100-hour MA (blue solid line on the chart below) in the process (currently at 166.679. The subsequent move higher extended toward the 100-day MA (step blue line on the chart below) in the Asian and early European session, but fell short of that target at 167.98.
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
Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session, over concerns about Chinese demand and as the market shrugged off the risk of conflict escalating in the Middle East. Brent crude oil futures fell by 12 cents or 0.15% to $79.78 a barrel by 0033 GMT. U.S. crude futures
Overall trading in the forex markets remained relatively subdued today. Dollar continues to hold the top position, despite the absence of clear follow-through buying momentum. Investor caution is also evident in US stock futures, which are moving within a tight range. Any movement in the US markets is likely to be temporary today, as traders
The lights of Frankfurt am Main’s banking skyline glow in the last light of day. Boris Roessler | Picture Alliance | Getty Images The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed Tuesday. The zone’s gross domestic product rose by
In this article FSLR Follow your favorite stocksCREATE FREE ACCOUNT Chuck Smith monitors the manufacturing process of the series 6 solar panels during a tour of a First Solar plant in Walbridge, Ohio, U.S., October 6, 2021. Picture taken October 6, 2021. Dane Rhys | Reuters First Solar reported second-quarter results Tuesday that beat revenue
Silver price becomes flat after the release of the better-than-expected US JOLTS Job Openings data for June. US employers posted fresh 8.18 million vacancies. The Fed is expected to leave interest rates steady for eighth straight time. Silver price (XAG/USD) surrenders its intraday gains and falls slightly below $28.00 in Tuesday’s New York session. The
Fundamental Overview The USD has been rallying steadily against most major currencies in the recent couple of weeks, although the catalyst behind the move has been unclear. A good argument has been that most of the moves we’ve been seeing in the past 10 trading days were driven by deleveraging from strengthening Yen. Basically, the
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
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
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,