UPCOMING EVENTS: Monday: PBoC LPR. Wednesday: NZ Retail Sales, AU/JP/EZ/GB/US PMIs, Canada Retail Sales. Thursday: US Jobless Claims. Friday: Fed Chair Powell speaks at the Jackson Hole Symposium (24-26 August). Monday The PBoC is expected to cut the LPR rates by 15 bps as it did the last week with the MLF. The rate cuts
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Gold‘s is expected to remain under pressure in the international markets amid a stronger dollar index (DXY) and higher US bond yields, with a rub-off impact on the local prices, as well, when trading resumes next week. The movement will likely remain sideways with limited upside, experts tell ETMarkets. Gold has been losing its appeal
Monthly options expiration was likely a factor in trading today but, in any case, the dip buyers returned and stocks mounted a solid comeback, led by value. S&P 500 flat Nasdaq Comp -0.2% Russell 2000 +0.8% DJIA +0.1% Toronto TSX Comp +0.1% On the week: S&P 500 -2.1% Nasdaq -2.6% DJIA -2.2% This was the
Last week, the financial world navigated a storm of uncertainty and volatility. From skyrocketing treasury yields to the extended declines in equities, from the downward spiral of Chinese stock market to the tumultuous Yuan exchange rate, and not forgetting the unexpected nosedive in Bitcoin. At the same time the dynamics of these developments are closely
COMEX Gold prices declined for the fourth consecutive week, facing pressure from robust US economic indicators and the slightly hawkish tone of the FOMC meeting minutes. The erosion in gold’s value comes as it broke below the significant threshold of $1,900 per troy ounce and currently hovers near its lowest point since March 2023, a
Mon: PBoC LPR, German PPI (Jul) Tue: US Richmond Fed Index (Aug), New Zealand Retail Sales (Q2) Wed: EZ/UK/US Flash PMIs (Aug), Canadian Retail Sales (Jun), US New Home Sales (Jul) Thu: Fed’s Jackson Hole Symposium (24-26th Aug), CBRT Announcement, BoI Announcement, BoK Announcement,US Durable Goods (Jul) Fri: Fed’s Jackson Hole Symposium (24-26th Aug), Japan’s
Oil prices looked set to close lower this week following seven weeks of gains, as China‘s economic woes eclipse signs of tight supply. The seven-week upswing in prices, galvanised by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), was the longest streak for both benchmarks this year. Brent futures rose
There was no major news coming out of the Fed chatter. Most of the focus was on interest rates, and stocks. Bitcoin fell toward technical support. Crude oil prices rebounded off of low levels and closed higher on the day, but down on the week. On Friday, if you were to look at the price
As the trading week draws to a close, Dollar appears to be finally capitalizing on heightened risk aversion, extending its recent surge. Major European stock indexes are painting a gloomy picture, while US futures points to negative opens. British Pound, once the darling of the markets, has started to wane after an unexpectedly dismal retail
Gold edged up from 5-month lows on Friday as the U.S. dollar and bond yields slightly fell from highs, but bullion was set for its fourth consecutive weekly decline on concerns over the Federal Reserve’s higher-for-longer interest rate outlook. FUNDAMENTALS * Spot gold gained 0.2% to $1,892.70 per ounce by 0141 GMT, after touching its
Bear in mind that the selling does tend to intensify in US trading as it has been the case since last week. But already we are seeing some cautious tones in Europe today, with S&P 500 futures and Dow futures both down 0.2% and Nasdaq futures down 0.3%. That is weighing further on European indices
In the face of mounting tumult across stocks, bonds, and the crypto realm, the currency market projects an island of relative calm. Despite the extended rout in equities and treasuries and the dramatic tumble in Bitcoin, the forex market has responded with comparative restraint. A discernible dip in commodity currencies is on display, with Australian
Gold hovered around a five-month low on Thursday, after data pointed to a resilient U.S. economy and raised prospects that the Federal Reserve may hike interest rates once more this year. Spot gold was up 0.3% at $1,896.70 per ounce by 1144 GMT, trading near its weakest level since March 15 of $1,888.30. U.S. gold
Info via Reuters that is seeking protection from creditors in the United States under Chapter 15 of the U.S. bankruptcy code Earlier this week, the embattled property developer resolved to delay its meetings for the Hong Kong CEG Class A and Class C holders of debt to provide them more time to consider its fresh
Dollar relinquished its early gains, entering US session as the day’s softest currency. Even as US benchmark 10-year yields skyrocketed to touch 4.3% mark, they found themselves lagging behind their German and UK counterparts. On the flip side, Australian Dollar is mustering a recovery, buoyed in part by China’s proactive measures to stabilize Yuan’s exchange
Gold fell on Thursday after a firmer dollar index (DXY) and Fed July FOMC minutes triggered mayhem on the Street due to expectations that the Federal Reserve would carry on with its policy tightening. The DXY was trading with a positive bias at 103.54 against a basket of six top currencies, making the yellow metal
Prior -€0.3 billion The seasonally adjusted trade balance came in at a surplus of €12.5 billion, but came as exports were down 0.5% on the month while imports slumped harder by 5.6% on the month. The latter in particular remains a function of a further improvement in energy price developments in the region, much compared
Australian Dollar faced a discernible decline during today’s Asian trading session, continuing its broad-based selloff throughout the week. The catalyst behind Aussie’s downturn can be traced back to the underwhelming employment figures released from Australia. Additionally, a prevailing risk-averse sentiment, inherited from US markets overnight, further burdened the risk-sensitive currency. Following closely, New Zealand Dollar