Gold prices fell Rs 200 to Rs 79,100 per 10 grams in the national capital on Wednesday amid a firm trend in international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity settled at Rs 79,300 per 10 grams in the previous session. Snapping a three-day losing run,
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The columns of Royal Exchange are dressed for Christmas, at Bank in the City of London, the capital’s financial district, on 20th November 2024, in London, England. Richard Baker | In Pictures | Getty Images LONDON — U.K. inflation rose to 2.6% in November, the Office for National Statistics said Wednesday, marking the second straight
The latest input to the eurozone’s growth story – another decline in the German Ifo index – should keep market’s dovish tendency in European Central Bank pricing well intact, even if consensus is building that the upcoming German election will generate some degree of fiscal support. Ultimately, a retightening in the very wide Atlantic spread seems unlikely in
Sterling remains resilient, as supported by UK employment data indicating that wages remain robust. This development aligns with improved conditions in the UK’s services sector, as seen in yesterday’s PMI release, and suggests that underlying price pressures have not diminished despite growing pessimism tied to the Autumn Budget’s uncertainty. Markets maintain near-zero expectations for a
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Major currencies are mostly little changed with exception of the aussie and kiwi today. Both the antipodes are being pulled lower, breaking to fresh lows for the year. AUD/USD is down 0.4% to 0.6311 now upon a break of key technical support from the August low highlighted here. Meanwhile, NZD/USD is down 0.3% to 0.5735
Bullion remains under pressure as gold February futures contracts at MCX extended losses on Wednesday, opening flat at Rs 76,852 per 10 gram, which is down by 0.02% or Rs 19 while silver March futures contracts were trading at Rs 90,700/kg, down by 0.19% or Rs 175. Gold prices have fallen by Rs 300/10 grams
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C. Andrew Caballero-Reynolds | AFP | Getty Images Inflation is stubbornly above target, the economy is growing at about a 3% pace and the
The Dow Jones accelerated into further losses, falling nearly 0.8%. Losses are concentrating in the Dow as investors second-guess Fed action. Continued declines in key health and tech stocks are further dragging the Dow lower. The Dow Jones Industrial Average (DJIA) shed another 300 points on Tuesday as losses accumulate in the key index and
Canadian Dollar trades broadly lower today while commodity currencies are generally soft. Canada’s CPI report reinforced the outlook of stable inflation hovering around target. BOC has likely completed its aggressive rate-cutting phase and pauses in policy easing are anticipated at some meetings next year. Nonetheless, the direction remains clear: further rate reductions are expected to
Both the AUDUSD and the NZDUSD are trading lower and in the process testing key support targets. The video above goes through the technicals driving the pairs. Below are the key technical points outlined in the video for each pair. AUDUSD Technical Analysis:The AUDUSD is retesting a key support swing area on the daily chart
High yield 4.686% WI level at the time of the auction: 4.671% Details Tail: 1.5 bps vs 6-month average 0.6bps Bid-to-Cover: 2.50X vs 6-month average 2.57x Dealers: 17.9% vs 6-month average 13.3% Directs ( a measure of domestic demand): 20.1% vs 6-month average 15.3% Indirects (a measure of international demand): 62.0% vs 6-month average 71.4%
Oil prices were range-bound in early Asian trading on Tuesday as investors worried about Chinese demand and awaited further market direction from a U.S. interest rate decision due on Wednesday. U.S. West Texas Intermediate crude was down 6 cents at $70.65 a barrel at 0112 GMT, while Brent crude futures fell 1 cent to $73.90
German IFO Business Climate Index misses estimates with 84.7 in December. The IFO Current Economic Assessment Index rose to 85.1 in the reported month. The headline German IFO Business Climate Index dropped to 84.7 in December from 85.6 in November. The data came in below the consensus 85.6 print. Meanwhile, the Current Economic Assessment Index rose to
The forex market began the week on a subdued note, with mild risk-off sentiment setting the tone. China’s latest economic data painted a bleak picture, with retail sales significantly underperforming expectations and fixed asset investment experiencing a deeper decline. While industrial production growth met forecasts, it failed to offset concerns about the broader economic slowdown.
The USDCAD has moved lower after failing to sustain a break higher earlier today. Technically, the pair briefly pushed above the April 19, 2020 high at 1.4264, reaching a session high of 1.4270, but momentum quickly faded. The price rotated back below last week’s high at 1.4244 (Friday) and extended to a corrective low of
AUD/USD daily chart The pair is down 0.4% today and erasing the advance from yesterday, moving back to test the August low of 0.6347. We’ve been here before with the low last week touching 0.6336 but ultimately, the daily and weekly close held. Will it be the same this time around? The pressure is definitely
Gold February futures on MCX opened flat on Monday at Rs 77,088 per 10 grams, a slight rise of 0.04% or Rs 27. Meanwhile, silver March futures were trading at Rs 91,005 per kg, down 0.2% or Rs 178. Over the past week, gold prices have dropped by Rs 1,900 per 10 grams, while silver
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