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Gold prices traded flat in early Asian trade hours on Thursday, within close range of record-high levels on a broadly weaker dollar, as traders awaited more economic data that could steer hopes for a mid-year rate cut by the U.S. Federal Reserve. FUNDAMENTALS * Spot gold was flat at $2,173.89 per ounce, as of 0147
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In today’s subdued Asian session, the currency markets saw minimal movement, with most major pairs and crosses gyrating within yesterday’s range. Japanese Yen managed to carve out modest gain, buoyed by optimistic remarks and tangible actions related to wage growth within the country. Chief Cabinet Secretary Yoshimasa Hayashi’s commentary on seeing “strong momentum” for wage
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Gold prices plunged Rs 400 to Rs 65,950 per 10 grams in the national capital on Wednesday amid weak trends in the overseas markets, according to HDFC Securities. The precious metal had closed at Rs 66,350 per 10 grams in the previous trade. Silver also plummeted Rs 600 to Rs 75,300 per kg. In the
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Yen declined notably during the European session and stays weak as markets enter into US session. The selloff comes in the wake of rebound in European and US benchmark yields. Despite positive news from Japan, where large corporations have committed to significant wage increases for the first time in decades, the Yen struggled to find
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Yen weakened broadly in Asian session today, reversing some of its robust since the previous week. This shift in momentum comes amid tempered expectations for an imminent BoJ rate hike at next week’s meeting. Japanese Finance Minister Shunichi Suzuki’s comments that the country is not yet ready to declare victory over deflation, despite positive signs
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Dollar saw only a temporary uplift from stronger-than-expected CPI figures from the US. The greenback reverted to pre-release levels, while stock futures rebounded. Traders appeared to be refraining from taking decisive bets. This reaction suggests that the inflation data, despite being higher than anticipated, may not be sufficiently influential to deter Fed from cutting interest
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Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies. Brent futures for May delivery rose 23 cents to $82.44 a barrel by 0221 GMT. The U.S. crude April contract rose 17 cents to end at $78.10 a barrel. “Crude oil traded in
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Yen rises broadly in Asian session today, lifted by economic data indicating Japan’s narrow escape from recession last year. This economic turnaround, while not directly influencing BoJ decision on interest rates decision next week, certainly does not obstruct the pathway for a hike. Yen’s momentum, though currently modest, could amplify with anticipated positive developments from
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Yen continues to stand out as the strongest currency in today’s relatively subdued markets, supported by anticipations of an imminent rate hike by BoJ next week. Swiss Franc and US Dollar are trailing behind in strength, indicating a preference for safer assets. Conversely, Australian Dollar, New Zealand Dollar, and Sterling find themselves at the lower
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