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
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Gold prices steadied on Monday as traders braced for fresh data on U.S. economic growth and the Federal Reserve‘s preferred inflation gauge due later this week, ahead of the central bank’s interest rate verdict next week. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,030.87 per ounce by 0116 GMT. * U.S. gold futures rose
UPCOMING EVENTS: Monday: PBoC LPR, New Zealand Services PMI. Tuesday: BoJ Policy Decision, New Zealand CPI. Wednesday: Australia/Japan/Eurozone/UK/US Flash PMIs, BoC Policy Decision. Thursday: ECB Policy Decision, US Durable Goods Orders, US Jobless Claims, US Q4 Advance GDP. Friday: Tokyo CPI, US PCE. Monday The PBoC is expected to keep the LPR rates unchanged at
Ahead of the Union Budget 2024, which is now less than a fortnight away, the domestic commodity industry has urged the government to allow the resumption of trade in banned agricultural commodities including wheat, paddy (non-basmati), chana, and others. The sentiments were echoed by the industry representatives on January 22 on the occasion of 20
The weekly Bakers Hughes Rig count shows: Oil rigs -2 to 497 Natural gas +3 to 120 Total Rigs +1 to 620. Crude oil prices are trading down -$0.77 or -1.04% at $73.19 Looking back in time to January 2023, the oil rigs were at 623 (vs 497 today), the gas rigs at 150 (vs
Oil prices drifted lower on Friday after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China. Brent crude futures fell 17 cents, or 0.2%, to $78.93 a barrel by 0151 GMT, and U.S. West Texas Intermediate
US stocks close sharply higher with the S&P index closing at a new record level and above the 4800 level. The NASDAQ index led the way. For the week, the major indices all closed higher for the 2nd consecutive week after sharp declines in week 1 of the 2024 trading year. The final numbers are
NEW YORK -Oil prices were little changed on Friday but headed for a weekly gain, as Middle East tensions and disruptions to oil output offset concerns about the global economy. Brent futures were up a cent to $79.11 a barrel at 11:41 a.m. (1641 GMT). U.S. West Texas Intermediate crude fell 9 cents to $73.99.
Last week’s market development suggest growing skepticism among traders on their own aggressive bets on early rate cut by major central banks. After a batch of economic data from US and UK, as well as the chorus of central banker comments, Q2 is starting to look much less likely for the start of a global
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
NEW YORK -Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41. For the
Yen’ decline resume today after release of Japan’s latest CPI data, which suggests that BoJ is not be under immediate pressure to exit its negative interest rate policy. . Economists have noted a crucial aspect of Japan’s inflation dynamics: while cost-push inflation is clearly easing, the transition to demand-pull inflation remains unconfirmed. The market’s attention
Taiwan’s Presidential election was held over the weekend. William Lai, of the pro-sovereignty Democratic Progressive Party (DPP) has been elected President. The party has governed Taiwan for the past eight years. This will be its third consecutive presidential term. Lai won 40% of the vote. Ahead of the main opposition Kuomintang (KMT) party’s Hou Yu-ih
Notwithstanding a Friday uptick, Gold is set to close the week on declines dragged by a higher dollar index (DXY). Today, in the early trade the yellow metal advanced with some softening in the greenback. Taking cues from the international market, MCX February gold futures were trading at Rs 61,884 per 10 grams, up Rs
Sterling fell broadly today following weaker-than-expected retail sales data. Despite this, the British currency’s losses have been somewhat contained, indicating a degree of resilience. Concurrently, Japanese Yen and Australian Dollar are showing attempts to recover, but these efforts lack significant follow-through momentum. The day’s activities seem more reflective of temporary consolidations rather than indicative of
Gold prices were set on Friday for their worst week in more than a month, as the dollar and Treasury yields strengthened after U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,023.52 per ounce by 0158 GMT.
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
The forex market displayed relative tranquility in Asian session, with major currencies confined to tight ranges. This subdued atmosphere reflects a degree of stabilization in investor sentiment, mirrored in the performance of major Asian stock indexes which are either experiencing mild recoveries or registering only slight losses. A notable exception to this picture is China’s