Gold prices steadied on Wednesday, as the dollar levelled with bets for an interest rate cut by the Federal Reserve in the first half of 2024, ahead of key U.S. jobs data this week that could offer more clarity on the central bank’s rate path. FUNDAMENTALS * Spot gold edged up 0.1% at $2,020.39 per
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Today’s Asian session saw broad decline in Australian Dollar, along with New Zealand and Canadian Dollars. This pattern suggests a shift towards risk aversion among investors, a sentiment echoed by the performance of major Asian stock indexes. Hong Kong stocks, in particular, continued their recent down trend, reaching new lows due to disappointing earnings results
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 edged lower on Tuesday, trading $100 below the record high level hit in the last session, as the dollar held firm and investors awaited more U.S. economic data this week that could influence the Federal Reserve’s rate outlook. Spot gold was down 0.3% at $2,024.30 per ounce by 1200 GMT. Bullion had climbed
Commodity currencies, particularly Australian Dollar, are experiencing notable selling pressure today. However, it should be noted that European investor sentiment, while not explicitly full-blown risk-on, clearly lacks the typical features of risk aversion. In the US, futures markets are just slightly down, indicating a cautious rather than outright negative sentiment among traders. This subdued response
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
LONDON -Oil prices extended declines on Monday, pressured by investor scepticism over the latest OPEC+ decision on supply cuts and uncertainty surrounding global fuel demand, though the risk of supply disruptions from the Middle East conflict limited losses. Monday’s fall adds to a 2% decline last week after the supply cuts announced on Thursday by
Gold and Bitcoin are leading the charge in Asian markets today, with Gold breaking to a new record high and Bitcoin surpassing the 40000 mark. This surge contrasts with the mixed performance of Asian equity markets, where indices like Japan’s Nikkei and Hong Kong’s HSI experienced some pressure. The varied market reactions come at a
The US dollar is at the best levels of the day as S&P 500 futures extend declines to 32 points, or 0.7%. Risk aversion is creeping in with yields rising 7 bps at the front end. Gold is now down 1.2% after rising to a recorder earlier. EUR/USD is down 63 pips and is now
Gold prices on Monday increased Rs 450 to hit a fresh record high of Rs 64,300 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 63,850 per 10 grams. However, silver remained flat at Rs 80,200 per kilogram.
Today’s markets are characterized by a sense of caution, with most major pairs and crosses gyrating inside Friday’s range. Japanese Yen is an exception as a stronger performer, although it has not yet seen significant follow-through buying. Dollar and the Euro are currently in a consolidation phase, with traders adopting a ‘wait and see’ approach.
Gold extended its Friday run to highs above $2140 during the early Asian morning. Its since tumbled back to be around $2092 as I post. Its been a bit of a choose your own adventure when posing narratives for the moves. I’ve heard everything ranging from driven by expectations of rate cuts (that’d be me),
Mumbai: Investors must brace for sharp swings in prices of gold after the recent run-up that pushed the precious metal to record levels on Friday. Fund managers and analysts said upside in gold could be limited hereon citing overbought levels and uncertainty over the pace at which central banks would cut interest rates. Silver would
UPCOMING EVENTS: Monday: Switzerland CPI. Tuesday: Tokyo CPI, China Caixin Services PMI, RBA Policy Decision, Eurozone PPI, Canada Services PMI, US ISM Services PMI, US Job Openings. Wednesday: Australia GDP, Eurozone Retail Sales, US ADP, BoC Policy Decision. Thursday: China Trade data, Switzerland Unemployment Rate, US Challenger Job Cuts, US Jobless Claims. Friday: Japan Wage
Domestic gold surged to a fresh all-time high as the most active MCX near-month futures boomed to Rs 63350 per ten grams last week. Firm overseas prices, weak Indian rupee and expectations of an increase in jewelry demand and peak wedding season propelled the sentiment towards the metal. The Indian trade body is expecting business
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 week ending December 1 was marked by speeches of two important Federal Reserve officials – Waller, the Federal Reserve Governor and Powell, the Federal Reserve’s Chair. Financial markets construed the much awaited Powell‘s speech Friday as decisively dovish as he did not seem to push hard against the markets’ expectations of hefty rate cuts
Financial markets were dominated by themes of cooling inflation, a slowing economy, and increasing expectations of policy easing by both ECB and Fed last week. This convergence of factors ignited a full risk-on mode among investors, propelling major US stock indexes and Germany’s DAX to sharp gains. In tandem, benchmark treasury yields in both Europe