A weaker than expected non-farm payroll data in the US enthused bullion as the yellow metal ended with sharp gains on Friday. But the outlook for bullion is expected to remain sideways over this week, investors can find buying opportunities on dips. While the unemployment rate retreated from its 7-month high, the numbers were far
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The major indices gave up gains into the close with all the major indices closing lower on the day. At session highs the Dow was up 114.11 points S&P was up 28.29 points, and the she NASDAQ index was up 125.47 points. At the close, the indices were all negative. Dow industrial average -187.25 points
Japanese Yen exhibited an impressive rally last week and ended as the strongest performer. The move was spurred by Japan’s substantial wage growth, which shot JGB yield higher and countered the impact of rising benchmark yields in the US and Eurozone. In light of these developments, signs are pointing towards a potential bullish reversal for
Gold prices on Friday were on track for a fourth consecutive weekly loss as investors bet the Federal Reserve will keep interest rates higher for longer, weighing on non-yielding bullion. FUNDAMENTALS * Spot gold held steady at $1,911.85 per ounce by 0023 GMT, but was down 0.4% for the week. U.S. gold futures ticked up
Markets: Gold up $13 to $1924 WTI crude oil up $1.86 to $73.66 US 10-year yields up 2.3 bps to 4.06% S&P 500 down 0.2% JPY leads, USD lags The initial reaction to the non-farm payrolls report was mixed as the softer headline competed with higher-than-anticipated wage growth. The dollar fell, then recovered most of
Dollar falls broadly after US non-farm payroll report didn’t provide any shock to the markets. Nevertheless, the headline job growth was still solid, with unemployment rate steady, and wages growth staying at a relatively high level. US 10-year yield dipped initially following the release by quickly recovered. Stocks futures attempted to pare earlier against but
Gold prices declined by Rs 110 to Rs 59,240 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had ended at Rs 59,350 per 10 grams. Silver also plunged by Rs 600 to Rs 71,500 per kilogramme. “Gold edged lower
There’s not much of direction so far on the session and you can understand why there is that sense of apprehension. Everyone is waiting on the US non-farm payrolls later and it’s tough to gather much conviction at the moment. European stocks started the day with losses but are now seeing a more mixed performance:
Markets are firmly entrenched in a risk-off mode as focus shifts to impending US Non-Farm Payroll data. Expectations for two additional Fed hikes have been gaining traction this week following a string of strong employment data. The deep pullback in US equities overnight extended into Asian trading hours. Concurrently, benchmark 10-year yield managed to close
Gold prices were flat in early Asian trade on Thursday as investors digested minutes from the Federal Reserve’s latest meeting, while positioning for a raft of economic data that could influence the U.S. central bank’s policy trajectory. FUNDAMENTALS * Spot gold was unchanged at $1,917.09 per ounce by 0022 GMT. U.S. gold futures shed 0.2%
Markets: WTI crude oil up 7-cents to $71.86 US 10-year yields up 9.6 bps to 4.04% EUR leads, CAD lags Gold down $7 to $1909 S&P 500 down 0.8% The US economy continues to run hot. The ADP number was shockingly strong, setting up what could be a 15th consecutive beat on non-farm payrolls tomorrow.
Today’s release of US ADP jobs data, showing stellar job growth yet continuing slowdown in wage growth, has left Dollar traders seemingly indecisive. Treasury yields have surged post-release, with 2-year year yield hitting its highest level since 2007 and benchmark 10-year yield breaking 4% threshold. US futures have also seen a tumble, driven by expectations
Gold prices rose by Rs 70 to Rs 59,350 per 10 grams in the national capital on Thursday, according to HDFC Securities. The precious metal had closed at Rs 59,280 per 10 grams in the previous trade. Silver also jumped Rs 600 to Rs 72,100 per kg. “Spot gold prices in the Delhi markets trading
That is one equation in markets that more often than not, doesn’t make much sense. But the flows are showing up that way so far in European trading, with the dollar losing ground now across the board. EUR/USD is up 0.3% to 1.0886 at the highs for the day: EUR/USD hourly chart The pair is
Yen and Dollar are gaining momentum in today’s trading as market sentiment appears to have soured in Asia. The development could be interpreted more as a response to escalating US-China tensions rather than hawkish tone of FOMC minutes released overnight. After all, the minutes just reinforced expectations of further monetary tightening, despite a pause in
Morgan Stanley on Wednesday lowered its oil price forecasts, predicting a market surplus in the first half of 2024 with non-OPEC supply growing faster than demand next year. The Wall Street bank cut its Brent price outlook for the third quarter this year to $75 from $77.50 per barrel and lowered its fourth quarter forecast
The USD is ending the day as the strongest of the major currencies. The dollar gained in the Asian and early European trading, and then got another boost from the Fed minutes this afternoon. The strongest to weakest of the major currencies At the June meeting, some Federal Reserve policymakers suggested they would have supported
Dollar and Japanese Yen are posting marginal gains as market attention shifts towards the release of June FOMC meeting minutes. Concurrently, major European indices are slightly down, reflecting a similar sentiment in US futures market. This development has put commodity currencies on the back foot. However, neither Dollar nor Yen has demonstrated enough strength to