NEW DELHI: Gold prices slipped sharply on Thursday as the strong US dollar weighed on the sentiment. Expectations of another big rate hike from the US Federal Reserve further dented the yellow metal. The dollar index edged towards recent peaks as hotter-than-expected inflation data boosted bets for even more aggressive monetary policy tightening by the
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The markets are overall steady in Asia today. Yen attempted a rebound yesterday but there was no follow through buying so far. Dollar’s rally also lacks sustained push. While commodity currencies are staying as the worst performer for the week, there is sign of some live against Euro. But that’s probably more due to Swiss
A trader works on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, U.S., July 27, 2022. Brendan Mcdermid | Reuters The U.S. Federal Reserve could be forced to pivot away from
US Monthly Retail Sales Overview Thursday’s US economic docket highlights the release of monthly Retail Sales figures for August, due later during the early North American session at 12:30 GMT. On a monthly basis, the headline sales are estimated to remain flat for the second straight month. Excluding autos, core retail sales probably rose a
USDCHF The USDCHF has been trading up and down in a consolidating range today. The sideways price action has been able to sideways its way back above the 100 hour MA (blue line) which was catching up to the price action after the sharp fall lower last week. The higher than expected CPI yesterday, pushed
Reuters monthly poll of Japanese firms taken August 31 – September 9: three quarters of Japan firms concerned about Taiwan crisis; slim majority have no plan to respond 58% of Japan firms see Taiwan crisis to affect their business relations with china only 13% of Japanese firms expect yen at 141 or more vs dollar
Gold price in the national capital declined Rs 265 to Rs 50,616 per 10 grams on Wednesday despite rupee depreciation, according to HDFC Securities. The price of the yellow metal had touched Rs 50,881 per 10 grams on Tuesday. However, the COMEX spot price of gold was marginally higher at USD 1,705 per ounce compared
Yen is shrugging off rally in US and European benchmark yields today, and rebound on threat of intervention in Japan. European majors are also finding some foots while Dollar turned mixed. Still commodity currencies are under broad based selling pressure. While US futures might point to a flat open, selling could come back later in
The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession. The producer price index, a gauge of prices received at the wholesale level, fell 0.1%, according to a Bureau of Labor Statistics report Wednesday. Excluding food, energy
AUD/NZD takes offers to refresh intraday low after strong NZ Q2 GDP. New Zealand’s Q2 GDP rose past market expectations and prior on QoQ. Mixed concerns surrounding China, RBA versus RBNZ game tests bulls. Australia’s employment data for August will be important for fresh impulse. AUD/NZD renews intraday low around 1.1220 on strong New Zealand
Ethereum’s blockchain Merge is expected to take place around 05:05 UTC on Sept. 15. It is a milestone that marks a full transition towards Proof-of-Stake (PoS) for Ethereum, and eliminates the need for energy-intensive mining by a projected 99.9% when compared to Proof of Work (PoW). Some miners are also getting ready for a hard
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The USD is extending to a new high vs all the major currencies with the exception of the JPY and CHF as London/European traders head for the exits. EURUSD: The EURUSD is falling below its 200 hour moving average at 0.99976 and trading back below the parity level at 0.9993. GBPUSD: The GBPUSD is moving
With Europe having to play catch up to the washout in Wall Street yesterday, US futures are finding some relief at least but the question seems to be how long can it last? The snapshot of the performance of US stocks yesterday was abysmal to say the least with the S&P 500 closing down 4.3%,
Crude oil prices have been in a downward spiral for the last three months in a row and hit an eight-month low last week. Prices have erased the entire geopolitical risk premium and are back at the levels when Russia first attacked Ukraine in February 2022. Crude prices cruised as high as $139 a barrel
Dollar surged overnight, partly as traders added bet of another aggressive rate hike by Fed next week, and partly on deep risk aversion. Though, there is no follow through buying in Asia, as the greenback is now consolidating gains. On the other hand, Yen appears to be talked up by Japanese officials, and reports that
Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy