The major European indices are closing with mixed results: German DAX, -0.03% France CAC, +0.04% UK FTSE 100, -0.20% Spain’s Ibex, +1.02% Italy’s FTSE MIB +0.57% For the trading week, major indices moved higher led by Spain’s Ibex.: German DAX, +0.69%. The index did reach a new all-time high at 18039.05 before rotating lower France
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Gold prices recently touched a historic high in both the international and domestic markets. The benchmark London Spot Gold hit a lifetime high of $2195 an ounce in the first week of March, surging more than 6 percent so far this year. Tracking the overseas sentiment, domestic gold prices also surged, placing prices well above
ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices. Key Points: Steady Global Consumption: Global gold demand remained consistent at
The metal was down over 1% on the week as it posted its second consecutive weekly loss. It closed 0.24% lower at $2156 Friday on hotter than expected US export price Index data (February). The ten-year US yields at 4.308% were up 0.38% on the last trading day of the week; however, the yields surged
Dollar ended the week as the strongest currency, boosted by the fresh round of inflation data that led markets to reassess expectations around Fed’s rate cuts. This recalibration was also marked a pronounced rebound in treasury yields and a notably cautious sentiment pervading the stock market. Despite this rally, Dollar remained confined within the previous
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 47 cents or 0.6% to $84.95 a barrel at 1434 GMT, a day
Dollar rebounded strongly overnight along with rally in treasury yields, and maintained its strength in Asian session. This resurgence is largely attributed to traders recalibrating their expectations for Fed’s monetary policy, in light of this week’s inflation data that surpassed forecasts. Both CPI and PPI reports for this week have painted a picture of persistent
Over the weekend, the Chinese Inflation data beat expectations by a big margin: CPI Y/Y 0.7% vs. 0.3% expected and -0.8% prior. CPI M/M 1.0% vs. 0.7% expected and 0.3% prior. Core CPI Y/Y 1.2% vs. 0.4% prior. Core CPI M/M 0.5% vs. 0.3% prior. China National Bureau of Statistics (NBS) on the CPI rise:
Gold prices held steady on Friday as they looked set to log their first weekly drop in four as investor hopes of a U.S. interest rate cut in June took a hit after data over the week showed bubbling price pressures. Spot gold was little changed at $2,163.10 per ounce, as of 10:17 a.m. EDT
Yen’s pull back continues today despite more positive news on wages negotiations in Japan. Remarkably, the currency has undone its gains from last week against all major counterparts, barring the even more beleaguered New Zealand Dollar. Expectations are still leaning towards an imminent interest rate hike by BoJ; however, speculation is rife that the central
Japan’s finance minister Suzuki said today that the country was “no longer in deflation.” This is a sharp turnaround from comments from officials previously. Indeed, it was only Tuesday when Suzuki was reported as saying we cannot declare deflation as beaten. Suzuki’s comment today is clear support for the Bank of Japan to tighten policy.
– Gold prices were headed on Friday for their first weekly fall in four as surprisingly hot U.S. inflation readings suggested that the Federal Reserve could reduce the number of rate cuts this year and may push the first cut beyond June. FUNDAMENTALS * Spot gold was up 0.1% at $2,162.66 per ounce, as of
Overall, the forex markets are still stuck in consolidative trading in Asian session, with expectations set for a subdued European session given the light economic calendar. However, anticipation builds for volatility spikes with releases of US retail sales and PPI later today. For now, Canadian Dollar is the stronger one for the week, followed by
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices fell on Thursday in the opening trade amid profit booking after a strong rally that took yellow metal prices to the lifetime highs of 66,356 per 10 grams. They have corrected by Rs 549 or 0.82% from their peak. They were trading at Rs 65,807, down by Rs 90 or 0.14%. May Silver
Consolidative trading continues in the forex markets in general. There is little reaction to the batch of economic data released from there US. Comments from ECB officials were also largely ignored. For now, commodity currencies are the stronger ones for the week, as led by Canadian Dollar, while Euro is also firm. Sterling and Swiss
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not