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Brent crude oil prices were little changed in early trading on Friday, but were set to notch their first monthly gain this year as a steep drawdown in oil stocks and OPEC+ plans to cut output outweighed demand fears stemming from rising interest rates. Brent crude futures for September delivery fell 19 cents, or 0.3%,
Dollar bulls experienced a somewhat disheartening week, as the initial rally supported by hawkish remarks from Fed Chair was halted by subsequent inflation data release. Consequently, the greenback managed to secure only the third position for the week, trailing behind Swiss Franc and Euro. The vigorous late-week rally in US stocks, coupled with the sluggishness
The price of Apple closed above $3 trillion for the 1st time. It was also the 1st company to do that. The NASDAQ index had its best start to the year in 40 years. The major indices all closed higher for the week and the month. The final numbers are showing: Dow industrial average rose
Highlights of the week ended June 30 include views and opinions of the key central bankers at ECB forum held from June 27 to June 28 in Sintra, Portugal. Market participants keenly watched a panel discussion involving Federal Reserve Chair Powell, Bank of England Governor Bailey, ECB’s President Lagarde and Bank of Japan’s Governor Ueda
US core PCE prices (excluding food and fuel costs) for the month of May rose 0.3% as expected but the YoY level was mostly lower at 4.6% versus 4.7% last month and expected. The PCE price index fell from 4.3% to 3.8%. That was the 1st decline below 4% since early 2021. Personal consumption (adjusted
Gold prices rose Rs 80 to Rs 59,030 per 10 grams in the national capital on Friday amid gains in overseas precious metal prices, according to HDFC Securities. The yellow metal had settled at Rs 58,950 per 10 grams in the previous trade. Silver, however, tumbled Rs 550 to Rs 70,700 per kilogramme. “Gold slightly
Dollar sees a significant dip in early US session after release of economic data showed a slower than expected headline PCE inflation and a slight decline in core PCE inflation. In contrast, Eurozone reported a tick up in core inflation for the same period. Stock futures rally on this news, while benchmark treasury yields dip
Eurostoxx +0.6% Germany DAX +0.8% France CAC 40 +0.8% UK FTSE +0.5% S&P 500 futures +0.3% Nasdaq futures +0.5% Dow futures +0.1% Perhaps we are seeing some window dressing at play before we hit the end of the quarter and the half-year mark? In any case, it’s a tough one to say for sure especially
Gold struggled for momentum in early Asian trading on Friday, as traders awaited key U.S. inflation numbers due later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes. FUNDAMENTALS * Spot gold was flat at $1,908.33 per ounce by 0122 GMT.
In the run-up to the close of the first half, forex markets appear to be treading water in today’s Asian session. Market responses to China’s lackluster PMI data have been tepid, while Yen remains largely unfazed by Japan’s industrial production figures and Tokyo’s CPI. Asian indexes are mixed with mild selloff in Nikkei. Dollar and
Reuters have the report, citing unnamed sources: The United States and the Netherlands are set to further restrict sales of chipmaking equipment to China, to prevent the technology from being used to strengthen China’s military While the Dutch are planning to curb certain equipment from national champion ASML, and other companies, the U.S. is expected
Commodity exchange MCX has decided to extend its software support contract with 63 moons technologies, the former promoter of the bourse, after repeatedly failing to transition to a new trading platform within stipulated deadlines. In separate early morning stock exchange filings, Multi Commodity Exchange of India Ltd and 63 moons said the contract has been
In the currency trading arena, there’s been a notable lack of movement today. Gold has caught the market’s attention, sliding past the 1900 psychological level. Yet Dollar remains relatively undisturbed, also showing no significant response to the latest jobless claim data and Q1 GDP final figures. Likewise, the release of higher-than-anticipated German CPI data sparked
It has been quite a straightforward downside move in gold after the break of its 100-day moving average (red line) earlier this month. Price is now down 0.1% to $1,905 levels as sellers stay on the hunt of a push towards the $1,900 mark: Gold (XAU/USD) daily chart The correction after approaching the 2020 and
Gold prices lingered near their lowest in nearly four months on Thursday, as U.S. Federal Reserve Chair Jerome Powell kept the door open for more interest rate hikes to bring down inflation.FUNDAMENTALS* Spot gold rose 0.25% to $1,912.19 per ounce by 0123 GMT. On Wednesday, the metal hit its lowest since mid-March at $1,902.69.* U.S.
In today’s Asian trading session, forex markets are experiencing a lull, with most of the major currency pairs and crosses moving within the boundaries set by yesterday’s trading ranges. The anticipated volatility sparked by the robust remarks from the heads of the ECB, Fed, BoE, and BoJ during the ECB forum overnight failed to materialize.
Goldman Sachs ’ Peter Oppenheimer is chief global equity strategist and head of Macro Research in Europe within Global Investment Research. He spoke in an interview on Wednesday with CNBC. Some comments summarise his views: “We’ve seen a big rally in equities, of course, over recent months. Much of that, I think, is reflecting an