US major indices sink, but close off lows. Russell 2000 led the way to the downside. The Dow and the NASDAQ closed down near 1%. A snapshot of the final numbers shows: Dow industrial average -396.63 points or -1.00% at 39170.23. At session lows the index was down -515.16 points S&P index -37.98 points or
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After hitting an all-time high level, gold prices on Tuesday fell Rs 50 to Rs 68,370 per 10 grams in the local market, following weak trends in the international markets, according to HDFC Securities. In the previous session, the precious metal closed at Rs 68,420 per 10 grams. However, silver prices climbed Rs 430 to
Currency markets shifted their attention towards the sell-off in Swiss Franc today, a reaction to the substantial rally observed in European and US treasury yields. With the 10-year yields in Germany and UK climbing back above 2.4% and towards 4.1% respectively, and US 10-year yield setting sights on 4.4%. The surge in yields comes on
Prior 42.5 Despite a slight revision higher to the initial reading, it is still a five-month low. Weak demand conditions is still the main problem and we’re starting to see employment conditions also take a slight hit. The good news at least is that price pressures are easing a touch amid the softness in demand.
Notwithstanding a firmer dollar index (DXY), gold prices held their ground on Tuesday in hopes of an early rate cut as softer inflation numbers in the US lifted sentiments. The domestic yellow metal prices took cues from their overseas peers and traded with a positive bias. The MCX June gold futures were trading at Rs
Dollar stayed broadly firm in Asian session today, after rallying on robust manufacturing data and significant rebound in treasury yields overnight. The spotlight now shifts to upcoming comments from Fed officials, including Governor Michelle Bowman and New York Fed President John Williams, as markets seek clues about the central bank’s monetary easing path. The burning
The price of the WTI crude oil futures are settling at $83.71 – its highest close since October 27, 2023. The price is up $0.54 or 0.77% on th day. The high price today reached $84.49. The low price was at $82.60.The gains today come after a 3.2% increase last week. China’s Caixan Manufaturing PMI
Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook. Brent crude was 35 cents lower at $86.65 a barrel by 1230 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude
The forex markets roared back to life from holiday lull in early US session, Dollar surges broadly as buoyed by unexpectedly strong ISM manufacturing data. This report marks a pivotal shift for the sector, which has transitioned back into expansion after 16 months of contraction. Additionally, the prices component of the report soared to its
As a reminder, major markets in Europe are closed today amid Easter Monday. That is to keep liquidity conditions thin, with little appetite among traders to chase any big moves. So far, the major currencies space is rather tame with very, very light changes overall. USD/JPY in particular is still keeping above the 151.00 mark.
Gold prices hit a fresh lifetime of Rs 69,487 on Monday, gaining nearly Rs 1,800 per 10 gram in the opening trade, taking cues from international prices as benign US inflation data unleashed the bulls. At 9:30 am, the MCX April gold futures were trading at Rs 68,930 per 10 grams, up by Rs 1,253
Activity in global financial markets remain generally subdued due to the extended Easter holiday in many regions. Nevertheless, Japan’s markets kicked off the new fiscal year on a tumultuous note, with Nikkei index having a sharp sell-off. Analysts have largely dismissed the latest quarterly Tankan survey as the catalyst for this downturn. Instead, the sell-off
UPCOMING EVENTS: Monday: China Caixin Manufacturing PMI, US ISM Manufacturing PMI, BoC Business Outlook Survey. Tuesday: RBA Minutes, Switzerland Retail Sales, Switzerland Manufacturing PMI, German Inflation data, US Job Openings. Wednesday: China Caixin Services PMI, Eurozone CPI and Unemployment Rate, US ADP, Canada Services PMI, US ISM Services PMI. Thursday: Switzerland CPI, Eurozone PPI, US
Gold traded in a narrow range on Wednesday amid an uptick in the dollar index (DXY). Investors await more data scheduled for release this week to get a grip on which way the Fed could lean on the issue of interest rate cuts. The MCX April gold futures were trading at Rs 66140 per 10
China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global. The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small
Global oil prices edged up on Thursday, recovering from two consecutive sessions of decline, as investors reassessed the latest U.S. crude oil and gasoline inventories data and returned to buying mode. Brent crude futures for May were up 29 cents, or 0.34%, at $86.38 a barrel while the more actively traded June contract rose 28
Mon: BoJ Tankan Survey (Q1), South Korea Prelim Trade Balance (Mar), Chinese Caixin Manufacturing PMI Final (Mar), US ISM Manufacturing PMI (Mar), US S&P Global Manufacturing PMI Final (Mar) Tue: RBA Minutes (Mar), CNB Minutes (Mar), South Korean CPI (Mar), EZ/UK Manufacturing PMI Final (Mar), German Prelim CPI (Mar), US Non-Durable Goods R (Feb), Chilean
Candlestick charts are a cornerstone of technical analysis, providing a visually intuitive way to understand price movements in the MCX Gold and Silver markets. By recognising specific candlestick patterns, traders can glean valuable insights into market sentiment and identify potential trading opportunities. Here, we’ll delve into several major reversal candlestick patterns that can be instrumental