Next week is arguably the biggest one for the earnings for the quarter. There are a number of big cap companies on the calendar, with the potential to surprise and send stock prices higher or lower Moreover with the economy sitting on the fence (soft landing? hard landing? no landing?), forecast for forward earnings will
News
Many Indians believe that buying gold on the auspicious day of Akshaya Tritiya will bring in luck and prosperity. Over the past six months, the price of gold has risen approximately 20%, to over $2,000 per ounce in the international market & Rs 60,000/- plus in the Indian market. The performance of gold in the
Last week, market movements centered around central bank policy expectations, with limited clear alternate influences. Comments from Fed officials and recent economic data suggest that Fed’s tightening cycle is not over yet. This pushed US Treasury yields higher, but stock market indexes remained relatively stable. The steady market sentiment slightly restrained Dollar’s rally momentum, leading
The markets traded in relatively narrow trading range today and for the week. Looking at the low to high trading ranges for the major indices: The NASDAQ index range for the week was only 258 points. That was the lowest range since December 2021. The S&P index range for the week was 55.62 points. That
Buying gold in physical form is still the most preferred option for people during Akshaya Tritiya. If both purity and price are your consideration, investors could look to buy it keeping this in their minds. “Gold purchases are an inseparable part of Akshaya Tritiya celebrations for millions of Indians as a sign of prosperity, and
Japanese Yen rose broadly in today’s Asian trading session following the release of CPI data, indicating inflation remains persistently above BoJ’s target. While it is still early for BoJ to make any changes to monetary policy, a case for a shift later this year is building. Meanwhile, Dollar and Euro are firmer in relatively quiet
Markets: S&P 500 flat at 4155 WTI crude oil up $0.43 to $77.80 US 10-year yields up 2.3 bps to 3.568% Gold down $22 to $1982 EUR leads, CAD lags The daily changes in the largest currencies on Friday were minimal but the day wasn’t without drama. In particular, the US PMI from S&P Global
Gold prices plunged by Rs 430 to Rs 60,550 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 settled at Rs 60,980 per 10 grams. Silver also tumbled Rs 670 to Rs 75,080 per kg. Retail demand is likely
Japanese Yen is extending its rally in the early US session holding on to its gains and emerging as the second strongest currency for the week, just behind Swiss Franc. Despite persistently above-target inflation data, it remains unlikely that BoJ will make a shift in monetary policy next week. Additionally, the lack of volatility in
The pound is doing that thing where it is following the action in commodity currencies again today, with it being one of the worst performing major currencies alongside the antipodeans. GBP/USD is now down 0.5% to 1.2380, sitting near the lows for the day. The pair had already come under pressure from the softer UK
Gold has been one of the top-performing asset classes in terms of returns over the past year. The returns from the yellow metal from the last Akshaya Tritiya (May 3, 2022) are around 20% and is likely to maintain momentum for the next 12 months. Investors can consider buying gold and related instruments not just
Swiss Franc is currently the strongest performer for the day, showing a notable gain the Euro. Japanese Yen and Australian Dollar follow closely, indicating that the market moves are not predominantly driven by risk aversion. In contrast, New Zealand Dollar is the weakest, as lower-than-expected inflation data increases hopes that RBNZ is nearing a pause
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
NEW DELHI: Gold prices softened on Thursday following strength in the US dollar as Street keeps its eyes fixed on the Federal Open Market Committee (FOMC) meeting scheduled early next month. Bullion is expected to trade range-bound over the next two weeks. Any rate hike by the US Federal Reserve is expected to strengthen the
New Zealand Dollar dropped broadly in Asian session today after a lower-than-expected consumer inflation reading increased speculation that the next RBNZ rate hike may be the last in the current cycle. This development also pulled Australian Dollar down, making them the day’s worst performers so far. In contrast, Swiss Franc and Euro are trading higher,
For some context, the cutoff date for this is currently in early June and typically the can will get kicked down the road. We’re likely to see Yellen announce a revised date in the near future on this. However, JP Morgan says that it expects both the debate over the debt ceiling as well as
National Commodity and Derivatives Exchange Ltd. (NCDEX) on Wednesday launched futures contracts in Isabgol seed for trading. The contracts are available for trading in four months from May to August 2023. Moving forward, the exchange will add new contracts as per the contract launch calendar. Unjha in Gujarat being the traditional trading hub of Isabgol
Sterling climbed broadly today following the release of data showing that March’s inflation slowed less than expected, with CPI remaining in double digits. This development supports expectations of a further 25bps rate hike by BOE in May, with some speculating that an additional increase could bring the terminal rate to 4.75% in June. Despite this,