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Gold prices were steady in early Asian hours on Tuesday as investors maintained a cautious stance ahead of U.S. inflation data that could influence the Federal Reserve’s rate policy trajectory. FUNDAMENTALS * Spot gold held its ground at $1,925.89 per ounce by 0047 GMT. U.S. gold futures were flat at $1,931.30. * The Fed will

Japan PPI, AKA Corporate Goods Price Index, for June 2023. This is ‘wholesale’ level inflation, the price that firms charge each other for products. -0.2% m/m expected +0.2%, prior -0.7% +4.1% y/y expected 4.4%, prior 5.1% This data point is from the Bank of Japan. A piece in the Niklkei today cites an expected policy

British Pound sees a broad rally today, fueled by robust wage growth, indicating that secondary inflationary pressure remains persistent, which will likely force BoE to continue tightening. In contrast, Euro fell sharply due to plunging economic sentiment, leading to a downside breakout in EUR/GBP, resuming its recent downward trend. As it stands, Yen remains the

Bullion traded negative in the opening trade on Tuesday amid weakness in Dollar Index (DXY) that led to rupee appreciation. A weaker dollar aids importers of bullion as the dollar-priced commodities become cheaper, denting the prospects of bullion prices on the exchanges. In the physical markets, prices are expected to come down. The DXY fell

Headlines: Markets: JPY leads, NZD lags on the day European equities higher; S&P 500 futures up 0.2% US 10-year yields down 4 bps to 3.966% Gold up 0.6% to $1,936.05 WTI crude up 0.7% to $73.50 Bitcoin down 1.2% to $30,409 It was a bit of a mixed session today in European trading, with the

Dollar’s selloff gained momentum in today’s Asian trading session, breaking through near-term support levels against Euro and Sterling. The market remains skeptical about the possibility of Fed implementing two or more rate hikes this year. With US CPI release scheduled for tomorrow, traders appear to be positioning themselves for potential downside surprises. Meanwhile, major US

Gold prices edged higher in early Asian hours on Monday after U.S. jobs data last week cast doubts over the labour market’s strength, prompting investors to be more sceptical of the Federal Reserve’s rate hike trajectory. FUNDAMENTALS * Spot gold was up 0.1% at $1,925.49 per ounce by 0104 GMT. U.S. gold futures were down

The ANZ – Roy Morgan consumer confidence survey is conducted weekly. Its running along close to its 3 year low. ANZ comments: Consumer Confidence fell despite the RBA leaving the cash rate unchanged Small gains in current and future financial conditions and in future economic conditions were offset by a decline in the time to

Australian and New Zealand Dollar are under some selling pressure today, with the Sterling following suit. These currency fluctuations do not appear to be tied to any specific market developments, but their concurrent weakness may suggest a cautious undertone prevalent among risk-averse traders. Notably, market participants might be realigning their positions in anticipation of this

Bullion traded weak in the opening trade on Monday as Dollar Index (DXY) strengthened. It had fallen on Friday below the 103 mark as weaker-than-expected non-farm payroll data in the US enthused bullion as the yellow metal ended with sharp gains on Friday. The outlook for bullion is expected to remain sideways over this week

Headlines: Markets: USD leads, AUD lags on the day European equities slightly higher; S&P 500 futures flat US 10-year yields flat at 4.048% Gold flat at $1,923.62 WTI crude down 0.7% to $73.36 Bitcoin down 0.2% to $30,194 It’s a quiet one to start the new week in Europe, as markets are gearing towards the

Dollar recovers mildly during today’s Asian trading session but remains generally weak. Concurrently, Japanese Yen has begun to pare back some of its late rally from last week, but there is no sign of sustained selling. Risk markets are showing a mixed performance, reacting minimally to China’s data that indicate escalating deflation risks. Notably, the

The week ending July 7 turned out to be a week of whipsaws for the gold traders as, depending on the US data released through the week, the metal swung from one end to the other end of its current trading range of $1900-$1950. The US macroeconomic data released in the week were mixed. ISM

The news last week that China is cranking up its retaliation, firing a shot across the bows on minerals: with the danger the moves extend to more critical elements: This has focused minds in ‘the West’, given that at present China accounts for 90 percent of the global refined output of rare earths. Goldman Sachs

Spot gold fell to a four-month low, correcting more than seven percent from May, when it reached close to its all-time high. A steady US dollar and expectations of more rate hikes from the US Federal Reserve weighed on the prices of the yellow metal. A similar selloff was witnessed in domestic gold also. In

GBPUSD 4 hour chart The pound has extended today’s day to 100 pips, touching 1.2848 in a late-week push. As the 4-hour chart above shows, buyers ran into the June high of 1.2848 exactly before backing off a few pips. The bulls may try to make another push late or in low liquidity at the

COMEX Gold prices are poised for the fourth consecutive weekly decline and are hovering near four-month lows, weighed down by higher treasury yields and steady greenback. The yellow metal started the week on a positive note, after the ISM Manufacturing PMI in the United States fell to 46 in June 2023, from 46.9 in May

IATA chart Global air travel is perhaps the single-best indicator of covid impacts and the latest data shows that we’re on the cusp of a full retracement. The May report from IATA shows that passenger-kilometers are at 96.1% of the pre-pandemic level, which is up 39.1% year-over-year. I strongly suspect the job is completed in