US trading may tail off early today ahead of a three-day weekend but that won’t be before some critical pieces of economic data. We get four numbers to start the day at 8:30 am ET (1230 GMT) including: April PCE April durable goods orders April advance goods trade balance April advance wholesale inventories Earlier this
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Gold futures have given negative returns in May, dragged by strength in the Dollar Index (DXY) which is now hovering over 104 against a basket of six major currencies. Yellow metal is likely to take cues from the bullion prices in international markets, going ahead. With the US debt ceiling likely to get resolved soon
Dollar has maintained its position as the strongest performer for the week, despite the noticeable waning of its upside momentum over the past two days. Today, markets anticipates the release of several US economic indicators, including PCE inflation and durable goods orders. However, the primary driver is likely to be any updates on the debt
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Gold slid to its lowest in two months on Thursday as optimism around the U.S. debt ceiling talks lowered safe-haven demand for bullion and robust economic data fueled bets of another rate hike by the Federal Reserve. Spot gold was 0.4% down at $1,949.69 per ounce by 10:10 a.m. EDT (1410 GMT), having hit its
Dollar continues to be the strongest one for the week and sees fresh buying in early US session. Republican House Speaker Kevin McCarthy noted the debt ceiling negotiations have made some progress. But that was largely ignored by stock investors, even through treasury yields are on the rise. As for today, Canadian Dollar and Swiss
This adds to the earlier decision from Fitch here, which is pretty much the same story. DBRS Morningstar notes that the review with negative implications “reflects the risk of Congress failing to increase or suspend the debt ceiling in a timely manner”. Adding that: “While we still expect Congress to raise the debt ceiling before
– Gold prices held steady on Thursday after minutes from the U.S. Federal Reserve’s last meeting signalled a likely pause in the rate-hike campaign in June, while debt ceiling negotiations kept investors on the edge. FUNDAMENTALS * Spot gold was flat at $1,957.69 per ounce by 0034 GMT. U.S. gold futures were down 0.2% at
Dollar surged overnight trade and maintained its momentum into today’s Asian trading session. This robust performance followed the release of FOMC minutes, which depicted a high degree of uncertainty regarding the future trajectory of monetary policy. Despite this ambiguity, a pause in the tightening cycle by June does not necessarily signal its end, and any
Singapore Q1 GDP (final) -0.4% q/q expected -2.5%, prior +0.1% Singapore’s MTI maintains 2023 GDP growth forecast at +0.5% to +2.5%, with growth likely to come in at around mid-point of the range Says Singapore’s external demand outlook for rest of the year has weakened Says growth outlook for aviation and tourism-related sectors of economy
Gold prices were steady on Wednesday as another round of talks to raise the U.S. government’s debt ceiling ended with no progress, while investors assessed the possibility of further rate hikes by the Federal Reserve. FUNDAMENTALS * Spot gold held steady at $1,975.99 per ounce by 0020 GMT. U.S. gold futures edged 0.1% higher to
Today’s trading session saw broad selling pressure on commodity currencies, partially due to risk-off sentiment prevalent in the market and partly due to the dovish rate hike from RBNZ. As it stands, Euro seems to be the major benefactor, in part due to its rebound against Swiss Franc. However, despite a slight recovery, the common
Prior -5.7% Market index 205.0 vs 214.9 prior Purchase index 158.3 vs 165.4 prior Refinance index 443.0 vs 468.2 prior 30-year mortgage rate 6.69% vs 6.57% prior A surge higher in rates in the past week weighed further on mortgage applications with both purchases and refinancing activity slumping heavily. The market index is the lowest
Gold futures traded flat on the MCX in Wednesday’s trade as a stable dollar index kept gains for the bullion in check. MCX Silver futures, meanwhile, hit an 8-month low. The dollar has gained nearly 2% over the past one month negating gains for bullion from the US debt crisis and economic uncertainties in the
New Zealand Dollar falls broadly today as the markets considered the RBNZ rate hike as a dovish one, probably with interest rate already peaked. The development also takes Aussie lower too. Meanwhile, Sterling is attempting a bounce after strong core CPI reading, as well as services prices. But buyers of the Pound appear to be
Reuters Tankan sentiment index for big manufacturers +6 first positive reading this year is expected to rise further, to +8, in August Service-sector index 25 hit its highhest this year seen at 24 in August The solid readings may further fuel speculation that the BOJ may embark on normalising its easing policy sooner rather than
Price volatility will remain high till the outcome of the event and hence, irrespective of the outcome, the consumption of oil will continue. Rest of the factors like slowdown in China and strengthening dollar might create impact on the prices in turn create high volatile moves in the counter, Prathamesh Mallya, Deputy Vice President, Research
Forex markets have turned noticeably risk-off today, with Aussie and Kiwi showing broad-based declines. Despite Loonie holding strong, it is being outperformed by both Dollar and Yen. Meanwhile, European majors present a mixed picture, with Sterling lagging behind Euro and Swiss Franc. Today’s PMI data illustrated a ‘two-track’ economy in Europe, marked by robust services