Gold prices were down on Monday in the morning trade amid continued strength in the dollar index (DXY) which was up 0.12% at 105.49 against six major currencies. The MCX October gold futures were trading down by Rs 61 or 0.10% from the Friday closing price at Rs 58,885 per 10 gram on the MCX
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Some very bad news out of China over the weekend. Local authorities in Guizhou province say that a coal mine fire killed 16 people on Sunday. blaze broke out at the Shanjiaoshu coal mine in Panguan, a town in Guizhou province initial investigation suggests that the people who died were trapped after a conveyor belt
Asian stock markets commenced the week with divergent performances. While Japan’s Nikkei showed resilience, bouncing back after enduring its most challenging week this year, Hong Kong’s stocks weren’t as fortunate. The uncertainty surrounding China Evergrande Group’s protracted debt restructuring initiative ignited a fresh wave of selling, impacting not just Evergrande but also its contemporaries. Consequently,
Base metals prices retreated from their January highs as Chinese economic woes threatened the demand from the world’s largest commodity consumer. Fears of excess supplies and the US Fed’s rate hike policies also added pressure on prices throughout the period. In the benchmark LME platform, prices of the most used industrial commodities like copper and
Following a bustling week with significant Central Bank decisions in the limelight, the upcoming week holds the potential for a quieter economic events calendar. The FX market may be influenced by month-end rebalancing. Highlights for Tuesday include Japan’s BoJ Core CPI y/y data and the release of CB Consumer Confidence, New Home Sales, and the
During the September FOMC meeting, the Federal Reserve maintained the federal funds rate target range at a 22-year high of 5.25%-5.5%. Fed Chair Jerome Powell, however, conveyed that interest rates must remain elevated for an extended period due to the renewed strength in the economy. While the central bank is nearing the end of its
Major US stock indices are mixed now with the Dow Industrial Average note negative, and the S&P index trading above and below unchanged. The NASDAQ index is holding onto a 0.25% gain. A snapshot of the market currently shows: Dow industrial average -74.68 points or -0.22% at 33995.75 S&P index -0.13 points or unchanged at
Spot gold closed with a weekly gain of 0.10% at $1,925 and was up 0.31% on Friday. The week ending September 22 was marked with crucial monetary policy decisions of three key central banks – Federal Reserve, Bank of England and Bank of Japan. The US Federal Reserve, in a widely expected move, skipped a
The major US stock indices traded above and below unchanged today in up-and-down trading, but each of the indices is ending the day in the red. A snapshot of the closing levels shows: Dow industrial average -106.60 points or -0.31% at 3393.83 S&P index -9.96 points or -0.23% at 4320.05 NASDAQ index -12.19 points or
Despite a confluence of favorable conditions that are typically Dollar bullish — a decidedly hawkish Federal Reserve, plummeting stocks, and soaring yields — the greenback’s response was unexpectedly tepid last week. While it managed to gain ground against European majors and Yen, it faltered when squared against the robust commodity currencies. Dollar Index, a measure
Gold prices edged higher on Friday, helped by a slight pullback in the dollar and bond yields as investors digested a hawkish stance from the Federal Reserve and waited for more comments from policymakers for clues on the rate outlook. Spot gold rose 0.3% to $1,924.60 per ounce by 09:53 a.m. EDT (1353 GMT), following
The NZD and the AUD are ending the day as the strongest of the major currencies. The JPY is the weakest. The latest central bank decision came before the US open, when the Bank of Japan in The rates unchanged but did say that they would consider easy policy exit 1 achievement 2% inflation is
Sterling finds itself under tremendous selling pressure following release of lower-than-anticipated headline and core CPI readings from the UK. This development is seen as a favorable turn of events for BoE policymakers, solidifying the anticipation that the rate hike expected to be announced tomorrow may be the last in the current cycle. On the heels
Oil prices rose on Friday as renewed global supply concerns from Russia‘s fuel export ban counteracted fears that slowing economies and high interest rates could crimp demand. Brent futures were up 78 cents, or 0.84%, at $94.08 a barrel by 1443 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by $1.02, or 1.14%,
> Stallantis: We have a real soluton on the table Stallantis responds to the UAW strikes Still have not yet received a response to Thursday’s offer We have a real solution on the table. Offer includes a long-term solution for Belvidere The offer includes current full-time employees earning between $80,000 and $96,000 a year by
Yen languishes as the day’s worst performer, with sentiments taking a hit due to BoJ’s silence on potential policy tweaks. European majors aren’t faring much better, as subpar PMI data from both Eurozone and UK echo the sentiment that further tightening might not be on the cards for ECB and BoE. The Swiss Franc also
International gold prices were up on Friday in the morning trade though the uptick was capped amid continued strength in the dollar index (DXY) which was up 0.14% at 105.63 against six major currencies. However, the gold rate on the MCX took a downturn as traders preferred booking profits. The MCX October gold futures were
USD/JPY 5 mins chart After he supposedly let slip on a “quiet exit” in the interview here two weekends ago, there were some quarters of the market that reacted strongly in thinking that a change is afoot at the BOJ. But when it comes down to the line, Ueda is once again disappointing yen bulls.