The latest World Economic Outlook 2021 GDP seen at 5.9% from 6.0% in July 2022 GDP remains at 4.9% Cuts US forecast by 1 percentage point this year China 2021 GDP cut to 8.0% from 8.1% Risks tilted to the downside including emergence of new variants and more persistent supply-demand mismatches The IMF highlighted there
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New Delhi: Gold in the national capital on Tuesday rose by Rs 129 to Rs 46,286 per 10 gram amid rally in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,157 per 10 gram. In contrast, silver dipped Rs 120 to
COIN surges on Monday along with other crypto stocks. Bitcoin is the catalyst as it surges higher again. COIN looks better technically on the chart. Crypto stocks were the hot sector on Monday as the rally in Bitcoin continues. The move was started by market man Powell, normally so kind to equity markets, but this
Overall outlook in the financial market is unchanged, with Yen selloff as the main theme, as major global treasury yields continue to march higher. Euro is second weakest after ECB officials talked down the threat of inflation. Australian Dollar is trading broadly higher, followed by Kiwi. Dollar, Sterling and Loonie are mixed, with the greenback
Stocks still off into the close The US stock indices sold off into the close and are closing near the low levels for the day. The Dow and S&P are lower for the 2nd consecutive day Utilities and Communications lag Materials and Real Estate lead A look at the indices at the close show: Dow -249.40
An overnight piece from Platts on OPEC. Analysts at the firm note that many OPEC members did not hit their increased quota in September the coalition is producing far below what it said it would 19 members with production quotas under the OPEC+ supply accord were a combined 570,000 b/d below their allocations for the
London: World prices vaulted Monday to fresh multi-year pinnacles on strong demand and tight supplies, fuelling inflation worries and weighing on most European stock markets. London Brent oil jumped to a three-year high at $84.38 per barrel, while New York’s WTI crude leapt to a seven-year peak $81.72, though both eased lower later in the
AUD/JPY reaches a fresh three-month high around the 83.50 range. On Monday, the cross-currency broke the 200-day moving average, suggesting upside bias prevails. AUD/JPY: The daily chart depicts that the pair might consolidate or correct lower before resuming the uptrend. The AUD/JPY is trading lower as the Asian session kicks in and is trading at
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Falling to the weakest level since August, USDCAD was the worst performer amongst majors (CAD best performer against USD). Loonie’s rebound was driven by energy prices and strong job data. Elevated inflation also has again heightened speculations about BOC’s rate hike. The major driver of loonie’s strength was energy price. Crude oil price rallied as
Bitcoin (BTC) kept markets guessing into the Wall Street open on Oct. 11 after seeing rejection on hitting its highest since May. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price teases $58,000 February high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD tracking $57,000 after reaching $57,450 on Bitstamp — its best since May
10 year up to 1.614%. The nUS 10 year yields continue to move higher with the 10 year now up to 1.614%. That’s up 4.3 basis points on the day. The move higher is starting to hurt the NASDAQ index which is currently down -53 points or -0.37% at 14600.26. The USDJPY is also being impacted as
Yen continues to soften The yen is hitting new lows as higher energy prices inspire a fresh rotation into reflation trades. In Friday’s wrap I highlighted the AUD/JPY chart and the potential for a break above the September high. That’s exactly what we got today as that move follows earlier breakouts in CAD/JPY and USD/JPY.
New Delhi: Gold in the national capital on Monday fell Rs 59 to Rs 46,038 per 10 grams amid weak international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,097 per 10 grams. Silver also tumbled Rs 196 to Rs 60,369 per kg, from Rs
The total of Americans submitting jobless claims fell sharply last week as enhanced federal unemployment benefits wound down, the Labor Department reported Thursday. Initial filings for unemployment benefits totaled a seasonally adjusted 326,000 for the week ended Oct. 2, below the 345,000 Dow Jones estimate and a drop from the previous week’s 364,000. The numbers
Apple stock retraces but fails to beak 21-day moving average on Friday. Has Apple bottomed out as a double bottom looks possible? AAPL stock has been falling and Monday is likely to be a quiet session. Friday saw a brief rally for tech stocks after the weak employment number. The weak data, led short-term traders