Gold prices rose on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank‘s interest rate trajectory. Spot gold rose 0.5% to $2,015.79 per ounce by 1255 GMT, but was lingering near its five-week low
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The major US stock indices are mixed in early US trading. A snapshot of the market currently shows: Dow Industrial Average -83.40 points or -0.22% at 37185.50 S&P index up 20.63 points or 0.45% at 4760.50 NASDAQ index is leading the way with a gain of 155 points or 1.04% at 15008.10 The small-cap Russell
Dollar bounces in early US session, buoyed by unexpectedly low initial jobless claims data, which also lifts US 10-year yield. One of the key themes emerging this week is recalibration of market expectations regarding rate cut by Fed in March, with the probability now down to around 56%. Today’s job data is likely another factor
Gold prices edged higher on Thursday, helped by a softer U.S. dollar and lower Treasury yields, but hovered near five-week lows as investors tempered rate-cut optimism after hawkish comments from central bank officials and robust data. FUNDAMENTALS * Spot gold rose 0.2% to $2,010.59 per ounce by 0121 GMT, a day after it fell to
The continuing messages from Chinese authorities are of plans for no large scale stimulus, with overnight reports of: Chinese Premier Li Qiang gave his clearest signal yet that Beijing won’t resort to huge stimulus to revive growth amid the worst bout of deflation in decades Li was speaking to the World Economic Forum. This should
Prevailing mood of risk aversion was evident in Asian session today. Hong Kong stocks led the region lower, reflecting investors’ dissatisfaction with the latest batch of Chinese economic data. While China’s Q4 GDP growth wasn’t far off from analysts’ expectations, it still fell short for some, contributing to the market’s cautious stance. Additionally, concerns were
Gold prices slipped on Wednesday in early trade amid gains in the dollar index. Taking cues from the international market, MCX February gold futures were trading lackluster. Gold futures were trading flat at around Rs 62,000 per 10 grams, though the bias was slightly negative. Meanwhile, the March Silver futures were trading at Rs 71,865
The stocks are opening lower after better retail sales have pushed up yields, especially in the shorter end. The market seems to like lower yields vs. better growth. Fed’s Waller yesterday poured some cold water on rates moving lower sooner rather than later. The market is still focused on the idea that the Fed has
Sterling emerged as the star performer in today’s market, largely driven by surprising inflation data from the UK. CPI inflation in December showed an unexpected acceleration, with core CPI remaining at elevated level. This development led to a swift change in the market’s perspective concerning BoE’s policy, reducing the anticipated number rate cuts this year
Data coming up on Wednesday, 17 January 2024 from the US includes December retail sales. Here’s a look at the range of expectations (the ‘why do this?’ follows just below) ps. It’s a big day from the Federal Reserve also, with NY President Willaims (and others) speaking, and the release of the Beige Book. I’ll
Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses. Global benchmark Brent crude futures fell 36 cents, or 0.5%, to $77.93 a barrel by 0215 GMT. U.S. West Texas Intermediate crude
Dollar rises broadly on risk-off sentiment today, as as Hong Kong stocks led the region lower. The greenback’s strength comes despite growing calls for Fed to initiate policy loosening earlier. Notably, Goldman Sachs has joined this chorus, predicting an initial rate cut as early as March and a total of five cuts throughout the year.
The Empire Fed fell to -43.7 in January from -14.5 previously. It’s the earliest manufacturing data point of the month and at first glace it suggests a sharp contraction in activity. New orders plunged to -49.4 from -11.3. The dollar fell around 20 pips across the board but there are indications this survey is an
Gold prices slipped on Tuesday in early trade amid gains in the dollar index and higher bond yields even as the Street awaits comments from a host of US Federal Reserve’s speakers later this week to get more clarity on the Central Bank’s rate trajectory. Taking cues from the international market, MCX February gold futures
Dollar continues its strong rally in early U.S. session, making an attempt to surpass January high against Euro. The market appears to be ignoring surprisingly poor results of Empire State Manufacturing survey. Instead, mild risk-off sentiment is prevailing, offering some support to the greenback. New Zealand and Australian Dollars are the weakest performers so far
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Gold prices advanced on Monday, as the metal’s appeal was boosted by safe-haven demand owing to tensions in the Middle East, while markets raised bets that the Federal Reserve will cut rates as soon as March. Spot gold was up 0.2% at $2,052.10 per ounce, as of 10:34 a.m. ET (1534 GMT). U.S. gold futures
The forex markets commenced the week on a relatively quiet note, despite generally positive risk sentiment. This was highlighted by Japan’s Nikkei, which continued its impressive performance, breaking above 35k mark to reach new three-decade highs. The robust momentum could continue until the eagerly awaited BoJ meeting later in the month, where fresh economic forecasts