Gold prices eased in early Asian trade on Tuesday as traders assessed comments from U.S. central bank officials on interest rates staying high, while market focus was also on developments in the debt-ceiling debate. FUNDAMENTALS * Spot gold was down 0.3% at $2,014.62 per ounce by 0029 GMT, while U.S. gold futures eased 0.2% to
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This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. MUFG has indicated that the Australian Dollar (AUD ) is one of the weakest performers among
Canadian Dollar is enjoying a broad rally in early US trading session, fueled by data that revealed unexpected reacceleration in Canadian consumer inflation for April. The evidence for BoC to resume tightening measures is steadily accumulating. Amid slight risk-off sentiment in US markets, due to persistent uncertainties over debt ceiling negotiations, Swiss Franc and Japanese
Gold prices slipped on Tuesday led by some recovery in the dollar index. The MCX June Gold futures were trading at Rs 60,951 per 10 grams in the opening trade, down Rs 76 or 0.12%. Meanwhile, July Silver futures retreated Rs 152 or 0.21% to trade at Rs 73,250 per kg. The DXY was trading
Australian Dollar took a dive in today’s Asian trading session, reeling from a sharp decline in consumer sentiment and a slew of weaker-than-anticipated economic data from China. Despite the headwinds facing Aussie, New Zealand Dollar held its ground, buoyed by Westpac’s predictions of continued monetary tightening by RBNZ from the present 5.25% to 6.00% in
Global oil demand set to rise by 2.2 mil bpd in 2023 to a record 102 mil bpd Current market pessimism stands in stark contrast to tighter market balances in 2H 2023 That is when we expect demand to exceed supply by almost 2 mil bpd China will account for nearly 60% of global oil
Gold prices climbed Rs 370 to Rs 61,350 per 10 grams in the national capital on Monday amid a global rally in the precious metal, according to HDFC Securities. The yellow metal had ended at Rs 60,980 per 10 grams in the previous trade. Silver also zoomed by Rs 750 to Rs 74,350 per kg.
Market sentiments show signs of revival today, appeared to be buoyed by optimism over a potential debt ceiling agreement between US Democrats and Republicans. Over the weekend, Treasury Secretary Janet Yellen delivered upbeat remarks, indicating that negotiations were in full swing and marked by “some areas of agreement.” This optimism has brought a ripple effect
Markets: Gold up $4 to $2015 US 10-year yields up 4 bps to 3.50% WTI crude oil up $1.30 to $71.34 S&P 500 up 0.3% AUD leads, JPY lags Despite a poor Empire Fed survey and negative headlines from McCarthy on the debt ceiling, the market mood was positive on Monday as yields rose, stocks
COMEX Gold prices are poised for the first weekly loss in three, after touching a near record high of $2,085.4 per troy ounce in the previous week. The yellow metal edged higher at the start of the week, as the latest SLOOS survey showed that Q1 credit standards tightened. The Federal Reserve said banks reported
Yen declines broadly in Asian session, appears to be more of a reaction to rally in Nikkei, which broke through 29500 level for the first time since November 2021, and now seems poised to challenge 30000 psychological level. Dollar, along with its safe-haven counterpart, Swiss Franc, also trended lower as these currencies recalibrate following last
2023 GDP growth seen at 1.1% (previously 0.9%) 2024 GDP growth seen at 1.6% (previously 1.5%) 2023 inflation seen at 5.8% (previously 5.6%) 2024 inflation seen at 2.8% (previously 2.5%) For some context, the previous forecasts were made back in February. So, while better economic growth is a positive, inflation remaining stubbornly high is surely
Gold is expected to remain range bound over the next week in the absence of any clear triggers. The yellow metal ended flat while silver closed with declines dragged by the dollar index which managed to breach the 102 mark against the basket of six major currencies. The price is expected to move between support
Incumbent President Erdogan’s vote in Turkey’s Presidential vote is below 50%. Just under 90% of the vote have been counted. If no candidate gets more than 50% of the vote a runoff vote will be next. There are reports of Turkey’s state banks buying TRY to support the currency. As a guide its circa 19.70
Spot gold rose to a near-all-time high in the first week of May. Multiple catalysts like the weak US dollar, the US debt ceiling standoff, and global economic fears pushed prices higher. Tracking overseas sentiment, spot and futures prices in the domestic market hit a historic high. Predictions of a pause in US interest rates
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Oil prices rose in early Asian trade on Thursday after strong demand for fuels in the U.S. outweighed concerns about the possibility of the world’s biggest oil producer and consumer defaulting on its debt. Brent crude futures rose by 26 cents, or 0.34%, to $76.67 a barrel by 0015 GMT. U.S. crude futures rose 28
In the currency markets last week, Dollar, Yen, and Swiss franc Emerged as the standout performers. Conversely, New Zealand and Australian dollars lagged, painting a picture suggestive of risk aversion within the markets. However, this sentiment has not yet manifested itself in the stock markets, at least not with major American and European indices. It’s