Euro falls broadly today following release of weaker than expected German Ifo business climate data, although losses remain somewhat contained for the moment. It appears traders are holding their bets in anticipation of the upcoming FOMC and ECB rate decisions. Further, with July drawing to a close and the markets in a characteristic summer lull,
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Gold traded range bound in the early trade on Monday ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) which begins later in the day. The bias remained negative as the dollar index (DXY) was trading above the 101 mark and only strengthened in the last session leading to declines in bullion prices.
We’re seeing a steady start to the new day, with the PMI slump from yesterday not really impacting the risk mood all too much. In fact, outside of a sell down in the euro and pound, there wasn’t much of an outsized reaction. The focus this week remains on key central bank meetings, and we’re
As a typical Monday Asian session commences, activity in the financial markets is somewhat muted. Nikkei is displaying a notable rise, although this primarily reflects continuation of its recent flip-flopping pattern within an established range, indicative of ongoing consolidation. A similar pattern is observed across other major Asian markets as well. On the currency front,
Gold prices dropped by Rs 100 to Rs 60,350 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 60,450 per 10 grams. Silver also declined by Rs 200 to Rs 77,000 per kilogramme. Gold eased on
Is genuine China stimulus finally coming? There has been a slow pivot in Chinese policy ongoing for the past two months but the market appeared to be frustrated with piecemeal offerings rather than broader stimulus. Inflation is low in China but policymakers have been trying to deflate real estate and move to a consumption-led economy,
Euro and British Pound face some downward pressure today, following dismal PMI data that raises concerns about the prospect of further economic contraction in Eurozone and UK. With the German Ifo business climate index on the horizon tomorrow and ECB rate decision due on Thursday, Euro is likely to face additional scrutiny. Meanwhile, Dollar seems
Bullion traded rangebound in the early morning session on Monday ahead of the crucial US Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins on Tuesday. The bias remained negative as the dollar index (DXY) was trading above the 101 mark. The August gold futures were trading in the red at Rs 59,220 per
Major central bank decisions will take center stage this week but don’t discount the impact of the PMI data that we will see today. In the case of the Eurozone, this could play a role – alongside inflation data – to manage expectations for September. The yen is slightly higher today but the bulls were
The metal benefitted from the peak rate narrative being pushed by the markets as inflation readings in the US, Australia, New Zealand, and the UK came in short of forecast, which has given rise to a possibility of key central banks soon hitting a pause button in their rate hike mission aimed at reining in
UPCOMING EVENTS: Monday: EZ-UK-US PMIs. Tuesday: US Consumer Confidence. Wednesday: Australia CPI, FOMC Policy Decision. Thursday: ECB Policy Decision, US Jobless Claims, US Q2 GDP. Friday: BoJ Policy Decision, US PCE, US ECI. Monday: The Eurozone Manufacturing PMI is expected to tick lower to 43.3 vs. 43.4 prior, while the Services PMI is seen at
After three straight quarters of outflows, gold exchange-traded funds (ETFs) attracted Rs 298 crore in the April-June period, and experts believe that investors will continue to invest some portion of their assets in the safe haven product. However, the inflows were down by almost 80 per cent compared to the year-ago period. On the other
oil with 200 dma WTI crude oil has been flirting with the 200-day moving average all week and finally had a look above it, rising to $77.29. However it wasn’t able to break the weekly high of $77.32 and has backtracked slightly to $77.06. In all, I wouldn’t be comfortable calling that a technical break
COMEX gold rose during the first half of the week as recent data from the US, particularly the CPI and retail sales, showed that price pressures are cooling, warranting a smaller Fed action than previously expected. Investors are now expecting the US Fed to hike rates by 25 bps in July and pushed back against
The Dow industrial average kept its winning streak alive with a slim gain of 0.01% today. The S&P index also rose modestly. The NASDAQ index fell for the 2nd consecutive day and is closing lower on the week. The final numbers are showing: Dow industrial average up 2.5 points or 0.01% at 35227.70 S&P index
Dollar recovered broadly last week and it seemed to have emerged from its near-term selling climax. While it’s premature to call for bullish trend reversal, the greenback has likely entered at least a consolidation phase, with potential for a more robust recovery on the horizon. Dollar’s next move will likely hinge more on overall risk
Gold was trading range bound in the early trade on Friday after a sharp fall in the previous session on the back of a strengthened dollar index (DXY) which is inching back to the 101 mark. It was hovering around 100.79 against a basket of 6 major currencies, though the bias was negative. The August
Markets: Gold down $8 to $1961 WTI crude oil up $1.27 to $76.92 US 10-year yields down 1.7 bps to 3.83% S&P 500 down 2 points to 4564 CHF leads, JPY lags The economic calendar was light and there was little in the way of unscheduled news to jar the market. Heavy options expiries in