NEW DELHI: Gold prices were trading almost flat on Wednesday as the weakness in the dollar was balanced by rate-hike fears by the US Fed next week. The yellow metal failed to make the most of a pullback in the dollar, with demand for bullion being restrained amid prospects of aggressive monetary policies and rising
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Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for the week so far, as it’s
EURUSD price has displayed recovery signs and is likely to recapture 1.0200 on ECB’s rate hike expectations. The DXY has made a confident pullback after sensing lower selling pressure around 106.40. Political turmoil in Italy and renewed obscurity over gas supply from Nord Stream1 have soured market mood. EURUSD price shifted into a correction mode
GBPUSD moved back below the 200 bar MA The GBPUSD has now moved back below the natural support at 1.2000 and has seen some liquidation of some long positions. The price has moved down to 1.19850. Looking at the 5 minute chart above, the pair is testing the midpoint of the day’s trading range and
Prior -1.7% Market index 281.1 vs 300.0 prior Purchase index 208.0 vs 224.3 prior Refinancing index 655.7 vs 685.3 prior 30-year mortgage rate 5.82% vs 5.74% prior Ouch. That’s another steep drop in mortgage activity as both purchases and refinancing activity declined strongly in the past week. For some context, the purchase index is now
Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to Securities. In the previous trade, the precious metal finished at Rs 50,182 per 10 grams. Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. “Spot gold
New Zealand and Australian Dollar trade broadly higher on the back on improving market sentiment. Asia indexes are tracking US stocks higher. On the other hand, Dollar continues to extend its near term correction, in particular against commodity currencies. Yen is also under some pressure. Meanwhile, European majors are mixed for now, waiting for UK
In this article NFLX Netflix shares jumped after the company said it lost fewer subscribers than anticipated during the second quarter. The streamer also said it aimed to unveil its lower-cost, ad-supported tier in early 2023. This comes on the heels of Netflix tapping Microsoft to be its partner on the ad-supported offering. “We’ll likely
USD/CAD languished near a two-week low amid the prevalent USD selling bias. Softer crude oil prices could undermine the loonie and help limit the downside. Investors await the Canadian CPI report before placing fresh directional bets. The USD/CAD pair edged lower for the fourth successive day on Wednesday and was last seen trading near a
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Japan’s self-regulation “experiment” for the crypto industry is reportedly not working as well as intended, according to local government and industry experts. Since 2018, the Japan Virtual Currency Exchange Association (JVCEA), a self-regulation entity, has been tasked with creating guidelines for the country’s crypto industry, with arguments at the time that the entity could be
Natural gas is trading between the 38.2/50% retracement Natural gas futures moved up to a high price today of $7.46 before topping and rotating marginally to the downside. The current price range that $7.23. Looking at the hourly chart the recent cycle high peaked on June 8 at $9.65. The subsequent move to the downside
Changes in the CPI m/m are expected to be lower than those in June (both headline and core) according to consensus forecasts (see pic from the calendar below). CIBC in Canada preview thoughts: While recent pull backs in the prices of oil and some agricultural commodities should provide relief in the future, it will not
Gold in the national capital on Tuesday rose by Rs 6 to Rs 50,290 per 10 grams amid firm global trends, according to Securities. In the previous trade, the yellow metal settled at Rs 50,284 per 10 grams. Silver, however, dipped by Rs 137 to Rs 55,539 per kg from Rs 55,676 per kg in
Dollar’s correction continues today and falls broadly. US stocks point to stronger extended rebound. Yen is also weak. Kiwi is currently the strongest, followed by Australian. Euro and Swiss Franc are next. In particular, Euro is lifted by reports that ECB would consider both a 25bps and 50bps hike this Thursday. Sterling also follows Euro
U.S. Treasury Secretary Janet Yellen (pictured here at a news conference, ahead of the G-20 meeting in Bali on July 14), said supply chain resilience is a key focus of the Biden-Harris administration. Made Nagi | Reuters U.S. Treasury Secretary Janet Yellen has reiterated the need for the United States and its trusted trading partners