Gold prices fell on Friday as the dollar and Treasury yields strengthened after traders lowered bets for US interest rate cuts to materialize by March next year following a stronger-than-expected jobs data. Spot gold fell 1% to $2,008.79 per ounce by 9:55 a.m. ET (1455 GMT), and was down nearly 1% for the week so
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Japanese Yen continues to dominate as the strongest currency for the week, finding additional support from Japan’s unexpectedly robust wage growth data. However, its rally is currently pausing, with global financial markets redirecting their focus towards the impending US non-farm payroll data. Dollar, currently ranking as the second strongest currency, faces a critical test with
A man can dream, right? Today might end with the biggest Canada-Japan trade of all time. Well maybe not in financial markets but certainly in the world of sports. The rumor mill is insane right now around baseball megastar Shohei Ohtani and the possibility that he signs with the Toronto Blue Jays. The two-time MVP
Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,512 at the opening time, up Rs 46 or 0.07% from Thursday’s closing price. Meanwhile, the March Silver futures were trading at Rs 74,649 per kg, higher by Rs 336 or 0.45%. Read More In
Dollar jumps in early US session, buoyed by a robust set of employment data. headline job growth exceeded expectations, narrowly missing 200k mark, while unemployment rate showed a decline. This data suggests a still-tight job market, raising concerns among some market participants that underlying inflation pressures may not be easing as hoped. Notably, strong wage
The US non-farm payrolls data is due at 8.30 am US Eastern time on Friday, 8 December 2023. The ranges for the key data points are: Headline number 100K to 275K Unemployment rate 3.8% to 4.0% Average earnings m/m 0.2% to 0.4% (for the y/y 3.9 to 4.2%) And, while I’m here, for the Michigan
Gold prices were set to mark their first weekly fall in four after the dollar firmed, but traded steadily on Friday as investors stayed cautious ahead of key jobs print due later in the day to gauge the potential for U.S. rate cuts by March. FUNDAMENTALS * Spot gold edged up 0.2% to $2,032.36 per
Yen and Dollar strengthened notably in Asian session today, amid a backdrop of risk aversion that’s reflected in the continued downturn in Hong Kong’s stock market and softness in Japan. A key factor impacting market sentiment is the unexpected slump in China’s imports, including the decline in crude oil imports – the first such annual
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, dragged by an uptick in the dollar index which has managed to claw back to levels above 104 after falling to nearly 11-week lows. It is now trading at two-week highs. MCX February gold futures were trading at Rs 62,413 at the opening time, down Rs 27 or 0.04%, tracking
Yen is trading as the runaway leader in today’s market, dominating traders’ focus. This rally was initially triggered by comments from BoJ Governor Kazuo Ueda regarding the central bank’s potential strategies upon exiting negative interest rates. Buying momentum for then intensified further following Ueda’s meeting with Japanese Prime Minister Fumio Kishida to discuss his monetary
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 rose on Thursday, as signs of a cooling U.S. labour market supported bets of an interest rate cut early next year, while traders also awaited key jobs print due later in the day that could offer clues on the Federal Reserve’s trajectory. FUNDAMENTALS * Spot gold was up 0.1% at $2,027.12 per ounce
Global market sentiment shows signs of stabilization in Asia today, marked by gains in major indices like Nikkei Hong Kong’s HSI. This shift indicates that the markets have largely absorbed the impact of Moody’s downgrade of China’s rating outlook, redirecting attention towards economic data and central bank policies. The spotlight is now on BoC’s interest
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
Glitter in gold is rising by the day riding on the greenback’s weakness and falling bond yields as Street gets convinced of the likelihood of interest rate cut by the Fed sooner than later. MCX February gold futures were trading at Rs 62,245 at the opening time, up Rs 60 or 0.10% from Tuesday’s closing
Euro and Sterling are falling broadly in European session today, a trend largely driven by notable decrease in benchmark yields in Germany and the UK. German 10-year bund yield has reached its lowest point since June. Simultaneously, UK 10-year gilt yield has dipped below 4% mark for the first time since May These movements in
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