Gold traded with weakness in the early trade on Thursday ahead of the US inflation data. The anticipation of the CPI numbers has kept the movement rangebound. The dollar index (DXY) was hovering over the 102 mark against a basket of six major currencies, though the bias was slightly negative. Meanwhile, from the Indian standpoint,
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The quieter tones from earlier are starting to break a little, with the dollar now slipping against the major currencies bloc. EUR/USD is up 0.3% to 1.1010 though there are large option expiries likely to keep the pair in check for now. GBP/USD is also up 0.2% to 1.2740 while AUD/USD is up 0.5% to
Most major Asian stock markets are trading in the red, echoing the downturn witnessed in the US markets overnight. An exception to the trend is Japan’s Nikkei, which surged on the back of robust earnings reports from heavyweights like Honda and oil & gas explorer Inpex. This uplifted sentiment has simultaneously weighed on Yen, causing
Oil hit new peaks on Wednesday with Brent crude touching the highest price since April, as tighter supply owing to Saudi and Russian output cuts offset concerns over slow demand from China and a report showing rising U.S. crude inventories. Top exporter Saudi Arabia last week extended its voluntary production cut of 1 million barrels
WTI crude oil breaks above ceiling area The price of WTI crude oil futures broke higher today, and in the process, moved above a key swing area ceiling between $82.43 and $83.44 (see red numbered circles). That ceiling was started way back in November 2022. The high price extended up to $84.65. The low today
Dollar has regained some prominence in today’s trading, albeit just as a part of this week’s oscillating trends. A majority of major currency pairs and crosses are confined within yesterday’s trading ranges. The day’s lull is evident, with a notable absence of significant economic announcements from Europe and US. Additionally, leading central bankers have remained
Bullion recovered some losses in Wednesday’s early trade on softness in the dollar index (DXY) as Moody’s cut credit ratings of several small and mid-sized US banks. Street awaits US consumer price data that could have a bearing on the US Fed’s decision on whether to go with more hikes in the next monetary policies.
It’s one of those summer days in Europe as markets are keeping quiet but the dollar is mildly softer across the board. It isn’t much in the context of trading ranges this week and it is likely to keep that way until we get to the US CPI report tomorrow. But at least there are
Asian markets exhibited mild risk-off sentiment today, but with limited selloffs observed. China’s data revealed a foray into deflation, though expectation remains that this may not be a prolonged phase, especially given the milder-than-expected dip in CPI. While this doesn’t offer a significant boost in market sentiment, it’s somewhat less gloomy than anticipated. In the
Gold hit a four-week low on Tuesday as the dollar climbed after weaker-than-expected Chinese trade data, while caution in the run-up to U.S. inflation readings this week also kept appetite for zero-yield bullion subdued. Spot gold was down 0.4% to $1,928.61 per ounce by 1200 GMT after hitting its lowest since July 11. U.S. gold
It was looking bleak for the oil bulls earlier today as crude prices fell $2 on worries about the Chinese economy. But the buyers put on a tour de force in New York trading, taking WTI to $83.03 from $79.90. This kind of turnaround on a day with a poor risk backdrop is a sign
Dollar is surging broadly in early US session as risk aversion appears to be intensifying slightly. The appears to be a reaction to Moody’s cut the credit ratings of a host of small and mid-sized U.S. banks late Monday, and changed its outlook to negative for 11 banks. 10-year yield sinks below 4% handle on
Gold traded in the red in the early trade on Monday as the dollar index (DXY) strengthened ahead of the July inflation numbers which are due this week. The DXY was trading with a positive bias at 102.29, up 0.24%. The October gold futures were trading with declines at Rs 59,405 per 10 grams on
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Today’s Asian session witnessed a revitalized forex market, triggered largely by pivotal economic data releases. Japan’s weaker-than-anticipated wage growth data placed Yen under notable pressure, reinforcing BoJ’s commitment to persist with its ultra-loose monetary policy. Simultaneously, unexpectedly poor trade figures from China exerted downward force on Hong Kong stocks, as well as on Australian and
Gold prices declined by Rs 100 to Rs 60,200 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 60,300 per 10 grams. Silver also declined by Rs 200 to Rs 74,800 per kg. In the international
I’m struggling to see a way forward for the German economy. Today’s data showed German industrial production falling 1.5% in June. That was worse than the 0.5% decline expected and continues a series of soft readings for factories. Production is now down 1.8% year-over-year and that may just be the start. German electricity use has
Today’s financial markets exhibited subdued activity, with few standout movements. Notably, even as Eurozone’s investor confidence data outperformed expectations, Euro lagged, moving in tandem with Swiss Franc. On the other hand, Sterling is trading mildly higher, echoing the rise of commodity currencies, while Dollar is steady, devoid of fresh buying enthusiasm. The spotlight shifts to