The banking turmoil proved to be a minor setback as European equities are continuing to keep the faith in a stellar run higher so far in 2023. French stocks are at fresh record highs as it looks to break away from key resistance from the January 2022 high of around 7,384. It’s an impressive run
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Gold prices edged higher on Wednesday as the dollar pulled back, with investors focussing on key U.S. inflation data due later in the day for signs on how close interest rates are to peaking. FUNDAMENTALS * Spot gold was up 0.1% at $2,005.18 per ounce, as of 0051 GMT. U.S. gold futures rose 0.1% to
The overall set of US consumer inflation reports appears to have been well received by investors. DOW futures jumped over 200 points following the release and maintained most of the gains before open, while treasury yields tumbled at both short and long ends. Although Fed is still on track to deliver another rate hike in
Bank of America has published its latest credit card spending data and the is some concerning news. Card spending per household fell 1.5% m/m in March. They note that spending was particularly weak in gasoline, furniture, home improvement and department stores. With that, they see a 0.5% decline in the retail sales control group in
NEW DELHI: Gold and silver futures started Wednesday’s session on a strong note ahead of key inflation data from India and the US and Federal Reserve policy minutes. The June gold futures rose Rs 260 or 0.43% per 10 grams to Rs 60,765 while May Silver futures were trading at Rs 75,677 per kg, up
Market volatility could see a significant uptick today with three heavyweight events on the schedule. US consumer inflation data for March has the potential to shift market expectations regarding the Fed’s rate path. While headline CPI is expected to drop for the ninth consecutive month to 5.2%, core inflation is forecast to break its five-month
German DAX futures +0.1% UK FTSE futures flat US futures are also little changed as we get into the start of European trading, with traders and investors all awaiting the US CPI data later in the day. 10-year Treasury yields are also flat at 3.435%, though 2-year yields are down slightly by 1 bps to
Gold price jumped by Rs 280 to Rs 60,680 per 10 gram in the national capital on Tuesday amid gains in the precious metal’s prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,400 per 10 gram. Silver also climbed by Rs 470 to Rs 74,950 per
European majors are taking center stage today as markets reopen after holidays. Although not spectacular, Eurozone data revealed improvements in investor confidence, which has bolstered overall market sentiment. Major European indexes and benchmark treasury yields are trading slightly higher. In contrast, commodity currencies and Dollar are trading on the softer side, while Yen is mixed
The prior 3-year auction came after Powell’s hawkish Humphrey Hawkins testimony but prior to the bank runs and sold at 4.635%, or around 80 bps above current levels. The prior two auctions were a 0.6 bps stop-through and a record 4 bps tail. This one was right on the screws so it shouldn’t have any
Domestic gold prices edged up on Tuesday, tracking gains in the international market and amid a softer US dollar. Investors await this week’s US inflation data for further cues as that could influence the Federal Reserve’s monetary policy trajectory. MCX June gold futures were trading at Rs 60,380 per 10 grams at 10:45 am, up
Australian Dollar is having a broad recovery in Asian session today, bolstered by improvements in both consumer and business confidence data. While the rally’s strength is still limited, Aussie appears to have some room for further upside before encountering near-term resistance levels. European majors follow as the next strongest, with Sterling holding a slight advantage
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
Oil prices edged higher on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers offset concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6% after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia,
Today’s trading remains relatively subdued, as many markets are still closed for holidays. Canadian and US Dollars are showing mild strength, while Yen struggles as the weakest currency, followed by New Zealand Dollar and Euro. Sterling, Australian Dollar, and Swiss Franc exhibit mixed performance. Most pairs and crosses stay within Friday’s range, except for Yen
The White House is Kirby is saying that US is in talks with China about potential visit of Treasury Secretary Yellen and commerce Sec. Raimondo. In addition, US treasuries Shambaugh is saying: US remains committed to maintaining open lines of communications with China There is plenty of scope for economic relationship that benefits both US
Gold prices fell on Monday tracking a firm US dollar. Greenback revived on fears of further rate hike by the US Federal Reserve in its next monetary policy meeting after the non-farm payroll data pointed to a tighter labour market, dashing hopes of any rate pause in the immediate term. MCX June gold futures were
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