Euro and Sterling stumbled today as they responded to less than impressive economic indicators. Despite a slight uplift in German economic sentiment, the broader picture reflected deteriorating current situation, adding pressure on the common currency. Concurrently, the Pound exhibited a steeper reaction to the shrinking payroll employment coupled with the decelerated wage growth noted in
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Gold traded range bound on Tuesday ahead of the US inflation numbers amid a flat dollar index (DXY) which was hovering around 104.75 against a basket of six top currencies, though the bias remained positive. The MCX October gold futures were trading up by Rs 35 or 0.06% from the Monday closing price at Rs
It is a quieter one to start the day, after all the hot and heavy action from yesterday. It looks like markets are settling down in anticipation of the US CPI report coming up tomorrow. So far today, it’s a snoozefest in FX especially as seen here. There will be a couple of releases to
Yen displayed impressive strength in Asian session, following hawkish remarks from BoJ Governor Kazuo Ueda over the weekend. Speculation is rife that the central bank is laying down preparations to exit negative rates early next year, with sustained wage growth being a key prerequisite, as echoed by various BoJ officials. Meanwhile, both Australian and New
The Sovereign Gold Bond Scheme 2023-24 – Series II is open for subscription from today, September 11. The issue price is Rs 5,923 per gram of gold, while there is a discount of Rs 50 for those investors who subscribe online. For such investors, the issue price of a Gold Bond will be 5,873 per
You never really know where you are in the economic cycle until it’s over but there’s been a groundswell of economic commentary saying that the US economy is now early in a recovery. “It’s official: we’re in a recovery,” says Bank of America today. Elsewhere, Goldman Sachs highlights that lower-income consumers are improving. That’s something
Trading in the European session has been relatively muted, with the primary contributor to the quietness being a notably thin economic calendar. Euro experienced a mild dip following European Commission’s downgrade of growth projections for Eurozone for the current year and next. While Euro displayed pronounced weakness against commodity-linked currencies, its descent was restricted against
Gold traded with gains on Monday amid a weak dollar index which was down 0.35% at 104.75 against a basket of six top currencies. The MCX October gold futures were trading up by Rs 52 or 0.09% from the Friday closing price at Rs 58,950 per 10 gram on the MCX while the December Silver
USD/JPY is down 0.9% or a little over 130 pips on the day, to around 146.40 levels currently. It comes after a marked gap lower in the pair following BOJ governor Ueda’s remarks on a “stealth exit” from the current ultra easy monetary policy. In the big picture though, it’s not that big a blow
Crude oil prices clocked at a ten-month high last week, driven by worries about supply shortages after an unexpected extension of voluntary supply cuts by Saudi Arabia and Russia. Hopes of a delay in further rate hikes by the US Federal Reserve and positive fuel demand from China aided the demand outlook. The most active
UPCOMING EVENTS: Tuesday: UK Labour Market report, German ZEW, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, UK GDP, EZ Industrial Production, US CPI. Thursday: Australia Labour Market report, Japan Industrial Production, Switzerland PPI, ECB Policy Decision, US Jobless Claims, US PPI, US Retail Sales. Friday: NZ Manufacturing PMI, China Industrial Production and Retail
Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks. The US 10-year treasury note yield climbed towards 4.3%, supported by a surprising drop
Markets: Gold flat at $1918 US 10-year yields flat at 4.26% WTI crude oil down 48-cents to $87.35 S&P 500 up 0.2% CAD leads, JPY lags The euro ends the day flat but it certainly wasn’t quiet as some hawkish ECB sources reports ahead of next week’s meeting, along with some lumpy flows led to
Highlight of the week ending September 8 was a somewhat unexpected surge in the US yields despite a softer than expected US non-farm payroll report for the month of August released on September 1. Notwithstanding the somewhat weaker than expected monthly job report, the US yields surged on the huge quantum of corporate bond issuance
Verteran political player, Nancy Pelosi, 83, is lacing up her political sneakers for another run in Congress. A surprise? Not really. She’s been at it since 1987! Pelosi’s reelection bid: Quick stock market takeaway Why stock market junkies should care: 📌 Political stability often means $$$ for the market. 📌 Pelosi = Pro-Democrat. A stronger
In a week characterized by significant currency movements, Dollar asserted its dominance, closing as the top performer and pushing the Dollar Index tantalizingly close to a pivotal medium-term resistance zone. The upcoming fortnight will be instrumental in assessing Dollar’s upside momentum, which, in turn, will shed light on whether the currency is embarking on a
Gold price rose by Rs 100 to Rs 60,150 per 10 grams in the national capital on Friday amid strong cues in the overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,050 per 10 grams. However, silver remained flat at Rs 74,100 per kilogram. In the
China’s consumer-price index and producer-price index from the National Bureau of Statistics. higher services prices (prices of air tickets, tourism and accommodation rose over the summer holiday season) dragged CPI up from its negative return in the previous month neverthelss CPI came in lower than the surveyed consensus of expectations from economists food prices fell