MCX Gold prices traded at six month lows on Thursday getting beaten by the uptick in the dollar index (DXY) which is inching towards the 107 mark against a basket of six major currencies. The MCX December gold futures were trading down by Rs 91 or 0.16% from the Wednesday closing price at Rs 58,192
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The institutes (4 German, 1 Austrian) had previously expected a growth of 0.3% in the German economy during the spring. So, this is a significant revision lower as they expect higher interest rates and high inflation to weigh on consumption activity. 2023 GDP growth is now forecast to be -0.6%, then +1.4% in 2024 and
Dollar’s strength remains unabated, particularly against its European counterparts and Yen. The greenback rose alongside 10-year yield, which soared past the 4.6% mark overnight, a level unseen in over 15 years. The surging global treasury yields are a clear indicator of the market’s expectation for a prolonged period of restrictive monetary policies by central banks
Oil prices surged about 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of supply tightness amid OPEC+ production cuts. Brent crude futures breached $97 a barrel, and was trading up $2.55 to $96.51 a barrel by 11:40 a.m. ET (1540 GMT). U.S. West Texas Intermediate crude futures (WTI) climbed
Australian retail sales is listed as high impact (see screenshot below). Dunno ’bout that. The release might shift AUD/USD a few tics if we’re lucky. A beat will lend AUD a bid, a miss and the offer should prevail. Fo a few tics at least. This snapshot from the ForexLive economic data calendar, access it
Dollar rally shows no signs of stopping in early US session, and the greenback it buoyed slightly by stronger than expected data on durable goods orders. Yet, looming in the background is the potential for the fourth US government shutdown in the last ten years, a scenario that’s only days away. Minneapolis Fed President Neel
Gold prices were hovering at two month lows with an unrelenting greenback, triggering the slide. The MCX October gold futures were trading down by Rs 182 or 0.31% from the Tuesday closing price at Rs 58,250 per 10 gram on the MCX while the December Silver futures were trading at Rs 71,110 per kg, lower
Prior -0.4% Broad money growth in the euro area declines further as financial conditions continue to tighten and rather quickly I might add in the last few months. A credit crunch is something the ECB wants to avoid but considering the circumstances, they might have to endure a taste or two of that at least
Amid the backdrop of surging treasury yields, Dollar has pressed on, extending its recent rally. The mounting sentiment of risk aversion has provided additional tailwinds for the greenback, especially after the DOW experienced its sharpest decline since March. For now, Yen emerges as the day’s runner-up in strength, shadowed closely by Canadian Dollar. Conversely, Australian
Oil prices rose by about 1% after reaching a two-week low earlier in the session on Tuesday, as investors weighed expectations of tighter supply against demand concerns stemming from an uncertain economic outlook. Brent crude futures were higher by 83 cents, or 0.89%, at $94.12 a barrel at 1:33 p.m. EDT (1733 GMT), while U.S.
The US has a growing theft problem. Target highlighted growing ‘organized theft’ in its latest earnings call and now it’s backing it up with actions. The retail giant will close nine stores: Three in the San Francisco bay area Three in Portland Two in Seattle One in New York City The company still has a
Dollar, although retaining its strength, is witnessing mild deceleration in upside momentum as US session starts. The spotlight now shines on any potential progress within the US Congress to prevent a partial government shutdown looming this Sunday. While the notion of a shutdown isn’t unfamiliar in the US, having occurred 14 times since 1981, this
Gold prices were down on Tuesday in the morning trade amid continued strength in the dollar index (DXY) which shot up above the 106 mark against six major currencies. The MCX October gold futures were trading down by Rs 26 or 0.04% from the Monday’s closing price at Rs 58,675 per 10 gram on the
The pair is down 0.5% today as a more dour risk mood is weighing on commodity currencies while also helping to lift the dollar. The latter is also benefiting from higher Treasury yields, stemming from last week’s breakout move. That is pushing AUD/USD back under 0.6400 again after several failed attempts to hold a push
Dollar is being the standout performer this week, bolstered significantly by surging US treasury yields. Dollar index, which gauges the greenback against a basket of six major currencies, reached a high not seen since the previous November, breaking 106 mark. Contributing to the bullish momentum, EUR/USD has plunged through a pivotal support level at 1.06,
NEW YORK – Oil prices were nearly flat in choppy trade on Monday as Russia relaxed its fuel ban, after earlier gains on a tighter supply outlook, while investors eyed elevated interest rates that could curb demand. Brent crude futures were flat at $93.27 a barrel by 1:04 p.m. EDT (1704 GMT). U.S. West Texas
Crude oil prices remained settled at $89.68 today. That was down $-0.35 or -0.39%. The high today reached $90.83. THe low was at $89.03. Russia lifted some export bans, but restrictions on gasoline and high-quality diesel persist. Chevron plans to increase its oil output in Venezuela to 200k BPD by early 2024. Technically, looking at
Swiss Franc weakens broadly today, influenced predominantly by rally in benchmark European yields. Specifically, Germany 10-year yield breached 2.8% mark, reaching an 11-year peak. Euro managed to bounce back against the Australian and New Zealand dollars, which were burdened by concerns surrounding China’s property sector. However, Euro’s ability to gain against other currencies seems limited