The major US stock indices are ending the day lower. The Dow Industrial Average is closing down (only 0.03% but still lower) for the 5th consecutive day. In the month of May, the Dow was only up one day (last Friday). The final numbers are showing: Dow industrial average of -8.9 points or -0.03% at
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Oil markets regained some ground in early Asian trade on Friday with traders engaged in short-covering ahead of the weekend, but uncertainties regarding the U.S. debt ceiling and renewed fears over a U.S. regional banking crisis capped gains. Brent crude futures rose by 36 cents, or 0.5%, to $75.34 a barrel by 0051 GMT. U.S.
The USD is the ending the day as the strongest of the major currencies, while the NZD is the weakest. The strongest of the weakest of the major currencies The move higher in the greenback can be attributed to: Higher inflation expectations from the University of Michigan Consumer survey Concerns about the debt ceiling leading
Gold prices tumbled Rs 710 to Rs 60,970 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. The yellow metal had settled at Rs 61,680 per 10 grams in the previous trade. Silver also plummeted Rs 2,690 to Rs 73,445 per kg. “Gold prices in the Delhi
Dollar is capitalizing on its recent rebound in early US sessions, bolstered by data that showed a 0.4% month-on-month rise in import prices for April – marking the first increase since late 2022. This resurgence places the Greenback on track to be this week’s top performer, trailed by Japanese Yen and Swiss Franc. This picture
Below are the major releases for next week, organized by day, including expectations and previous release values: Monday, May 15 8:30am: USD – Empire State Manufacturing Index Expectation: -1.9 Previous: 10.8 Tuesday, May 16 2:00am: GBP – Claimant Count Change Expectation: 31.2K Previous: 28.2K 8:30am: CAD – CPI m/m Previous: 0.5% 8:30am: CAD – Median
Gold prices were steady in early Asian trade on Friday as investors assessed recent U.S. data that signalled a slowing economy and its impact on the Federal Reserve‘s interest rate trajectory. FUNDAMENTALS * Spot gold held its ground at $2,016.86 per ounce by 0021 GMT after ending lower in the previous session. U.S. gold futures
In the wake of comments from BoE Governor Andrew Bailey suggesting a potential pause in rate hikes, Sterling has taken a sharp downward turn overnight. Despite the expected 25bps hike yesterday, Bailey’s interview with Bloomberg TV sent ripples through the market, causing a broad sell-off of the Pound. With UK GDP data on the horizon,
HICP +3.8% vs +3.8% y/y prelim The good news at least is that annual core inflation is seen easing slightly from 7.5% in March to 6.6% in April. But as ever the case, one month does not make a trend so we’ll have to see how things develop in the months ahead to be more
Gold prices declined Rs 330 to Rs 61,370 per 10 grams in the national capital on Thursday amid weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 61,700 per 10 grams. Silver also tumbled Rs 1,650 to Rs 75,950 per kg. “Spot gold prices in the
Sterling’s response to BoE rate hike has been somewhat ambivalent. Despite BoE’s openness to further tightening and a rosier economic outlook, forecast for inflation indicates a marked downturn, with a “material” undershooting expected in the forecast horizon. The voting pattern held no surprises, leaving the Pound now turning its attention to tomorrow’s GDP data for
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Gold prices ticked up on a softer dollar in early Asian hours on Thursday, while investors awaited further clarity on the U.S. Federal Reserve’s monetary policy path. FUNDAMENTALS * Spot gold rose 0.2% to $2,032.48 per ounce, as of 0030 GMT. U.S. gold futures were up 0.1% at $2,039.00. * The dollar index slipped 0.1%,
As the market holds its breath for today’s BoE rate decision and economic projections, Sterling is trading on a softer note, barring against Euro. Overnight attempts to resume the recent rally against Dollar were short-lived, with the Pound returning swiftly to its familiar range. The potential for hawkish and dovish surprises, or simultaneously both, at
Well, I can safely say that markets were rather hoping for a bigger surprise – whichever way – from the US CPI data yesterday. The end result was a bit of a snoozefest as it doesn’t add or take away much from the prevailing outlook, as discussed here. There was a retreat in bond yields
Gold prices declined by Rs 265 to Rs 61,585 per 10 grams in the national capital on Wednesday amid a fall in international precious metal prices, according to HDFC Securities. The yellow metal had ended at Rs 61,850 per 10 grams in the previous trade. Silver, however, rose by Rs 120 to Rs 77,800 per
Dollar finds itself on the back foot in early US trading as data showed both headline and core CPI slowed in April. This data release has also sent 10-year yield plummeting below 3.5% mark. Japanese Yen is finding some strength, bolstered by the drop in yields. On the other hand, commodity currencies are regaining their
Traditionally April is a surplus month as it is the month for US taxpayers to square up their taxes. US federal budget US surplus $176 billion vs $235 billion expected revenues fell sharply from record to set a year earlier at down -132 billion or 43% from April 2022 surplus of $308 billion revenues for