Spot gold closed with a minor loss of $2 at $2018 on Friday. Much awaited US December core PCE deflator inflation data, the Fed’s preferred gauge of inflation, came in at 2.9%, slightly below the forecast of 3% and the previous reading of 3.2%. The headline index remained steady at 2.6%, which was in line
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I’m surprised that Trafigura was still transiting the Red Sea with oil but I suspect they won’t be anymore. The company said firefighting equipment on board is being deployed to control a fire caused in one cargo tank on the Marlin Luanda, which is an oil tanker. Marlin Luanda The ship was reportedly carrying naphtha
The year 2023 was not the best of times for base metals. Besides copper, which managed to hold ground, most other base metals experienced a tough period due to China’s economic woes, feeble global growth outlook, higher interest rates and oversupply fears. Copper ended the previous year with a gain of 2% while aluminium and
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
Venturing into the realm of options trading in MCX Gold and Silver can open new avenues for traders seeking to manage risk and enhance returns. Here, we explore four strategies that traders can employ to navigate the dynamic precious metals market effectively. Bull Call Spread: In a Bull Call Spread strategy, a trader simultaneously buys
The past week in the financial markets was a blend of the anticipated and the unforeseen, creating a cloud of indecision among traders. Central bank decisions by ECB, BoC, and BoJ unfolded largely as anticipated. But BoJ’s slightly hawkish communication provided a temporary lift to Yen. Despite ECB President’s cautious stance, traders continued to bet
Markets: CAD leads, JPY lags S&P 500 down 0.1% US 10-year yields up 1.5 bps to 4.15% Gold down $1 to $2018 WTI crude oil up $0.81 to $78.17 The market didn’t know exactly what to do with the US PCE report. On the hawkish side, the headline PCE number wasn’t as cool as GDP
Gold prices held steady on Friday as investors’ attention shifted to the U.S. Federal Reserve‘s policy meeting due next week for more insights into the interest rate outlook. Spot gold was little changed at $2,016.95 per ounce by 02:15 p.m. ET (1915 GMT), down 0.6% so far this week. U.S. gold futures settled mostly flat
The subdued trading in the forex markets observed through the week continued in today’s Asian session. Despite numerous central bank decisions and key economic data releases, most major currency pairs and crosses are staying within last week’s range. Euro, as the worst performer. so far is a notable exception. This lackluster performance seems tied to
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 eased in early trading on Friday, but were set to close higher for the week on positive economic data from the United States and China and a draw in U.S. crude stocks. Brent crude futures eased 32 cents, or 0.39%, to $82.12 a barrel by 01:15 GMT. U.S. West Texas Intermediate crude fell
Dollar falls mildly in early US trading hours, following the release of core PCE inflation data which indicated a slightly sharper than expected slowdown. However, this weakness in Dollar is somewhat counterbalanced by unexpectedly robust growth in consumer spending. Despite these movements, Dollar remains within its established trading range, with a decisive breakout yet to
To be fair, Lagarde’s speech went about as one would thought it would have. She acknowledged better inflation developments while reaffirming a more data-dependent approach. While she did say that it is fairly premature to discuss rate cuts now, she did mention that one should not be “fixated on the calendar”. Adding to that, she
Gold prices edged higher on Friday, but were on track for their second consecutive weekly fall as data indicating strong growth in the U.S. economy kept the dollar firm, while focus shifted to a key inflation print due later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $2,021.79 per ounce by 0155
Range trading continues in most major pairs and crosses for the week so far. Dollar’s selloff was relatively short-lived overnight, as US stocks retreated rather deeply after initial rally. There is sign of profit-taking in equities, which could curb any selling pressure in the greenback in the near term. However, Dollar’s next move remains contingent
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 edged higher on Thursday as Treasury yields fell after US GDP data highlighted that pace of inflation fell, while focus shifted to PCE data for further hints on the Federal Reserve’s interest rate cut strategy. Spot gold rose 0.5% to $2,022.84 per ounce by 10:14 a.m. ET (1514 GMT). U.S. gold futures rose 0.4%
Commodity currencies bounce in early US session, spurred by unexpectedly robust US GDP data that has invigorated stock futures. This surge in risk appetite is exerting some pressure on Dollar, although the impact remains relatively contained for the moment. The sustainability of this risk-on sentiment is still in question, which will be critical for the