> US wholesale inventories (revised) for January -0.4% versus -0.4% expected Wholesale inventories and wholesale sales for January 2022 Revised wholesale inventories for January -0.4% versus -0.4% preliminary December wholesale inventories +0.1% preliminary report for January came in at -0.4% Wholesale sales for January rose 1.0% versus 0.1% expected. Prior month was 0.0% revised to
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Gold prices rose marginally on Tuesday as investors awaited Congressional testimony by U.S. Federal Reserve Chair Jerome Powell and monthly jobs data, both of which could influence the interest rate policy. Spot gold was up 0.1% at $1,847.81 per ounce, as of 0344 GMT. U.S. gold futures eased 0.1% to $1,853.20. Higher interest rates to
Australian dollar experienced a broad decline today following a subtle dovish shift in the statement, raising speculation of a potential earlier pause in the tightening cycle. While the general expectation of another hike in April remains unchanged, May is getting slightly more uncertain. So far, New Zealand dollar is the strongest performer today, followed by
More from the Chinese Foreign Minister: Whatever currency that is used in China-Russia trade should be a currency that’s simple to use, safe, trustworthy – Most international trade is denominated in the US dollar. This doesn’t really suit these two states. The yuan would probably;ly be better than the ruble at this time of sanctions
After gold jewellery, the government plans to make hallmarking of gold bullion mandatory and is ready with the draft guidelines, Bureau of Indian Standard (BIS) Director General Pramod Kumar Tiwari said on Monday. Hallmarking — a quality certification — has been made mandatory with effect from July 1, 2022 for gold jewellery (14, 18, and
Swiss Franc climbed against major currencies following the release of stronger-than-expected inflation data, which is expected to bolster the case for SNB to raise interest rates by 50bps during their upcoming meeting this month. Euro also gained ground, supported by hawkish comments from ECB officials, while Dollar trailed behind. Conversely, Australian Dollar is trading as
> iVEY PMI comes in at 51.6 versus 54.7 last month Seasonally adjusted Ivy PMI Ivey PMI’s seasonally adjusted comes in a 51.6 versus 60.1 last month Ivey PMI not seasonally adjusted comes in at 50.8 versus 54.7 last month ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT –
Gold prices retreated on Monday from an earlier 2-1/2 week high as traders awaited U.S. Federal Reserve Chair Jerome Powell‘s testimony this week for hints on future rate hikes. Spot gold was down 0.2% at $1,851.52 per ounce as of 0930 GMT after hitting its highest since Feb. 15 in earlier trade at $1,858.19. U.S.
Mixed market sentiment led to a recovery in Yen during Asian session. Nikkei opened higher following a strong close in Wall Street on Friday. Meanwhile, stocks in Hong Kong and China were sluggish despite China’s announcement of an ambitious growth target of around 5% this year. Euro and Swiss Franc are trailing the Yen higher,
Comments from Vice Chair of the National Development and Reform Commission of the People’s Republic of China (NDRC) after the country’s growth target was set at around 5% over the weekend. This was seen as a little disappointing. Analyst consensus was a touch higher around 5.5%. The more modest target reduces the need for economic
Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China‘s factory activity offset growing concerns about rising U.S. crude stocks and potential rate hikes in Europe. Brent crude futures fell 39 cents, or 0.5%, to $84.36 a barrel at
USD/BRL weekly MUFG has been riding the recent wave of EUR/USD weakness. The pair bounced back this week but is still below their entry price and they maintain that trade, while adding a short in USD/BRL (spot ref 5.2200) with a target at 4.9000 and a stop at 5.4500. The stop for the EUR/USD trade
Gold price jumped Rs 160 to Rs 55,940 per 10 grams in the national capital on Friday amid a rise in rates of the precious metal in overseas markets, according to HDFC Securities. The yellow metal had closed at Rs 55,780 per 10 grams in the previous trade. Silver also climbed Rs 220 to Rs
Daily changes: S&P 500 +1.6% Nasdaq Comp +2.0% DJIA +1.2% Russell 2000 +1.3% Toronto TSX +1.2% Weekly changes: S&P 500 +1.9% Nasdaq Comp +2.6% Russell 2000 2.7% Toronto TSX +1.7% Greg highlighted the technical earlier and how the S&P 500 has quickly comeback from a trip below the 200-dma. The weekly chart shows a nice
Gold prices climbed to their highest in more than two weeks on Friday and were on track for their biggest weekly rise since mid-January, supported by a softer dollar as investors gauged the U.S. central bank’s policy path. Spot gold was up 0.5% at $1,844.60 an ounce by 1244 GMT, after hitting its highest since
China’s parliamentary committees meet in the week ahead, beginning on Sunday in an event that will outline key government policies and targets. Chief among them will be a GDP growth estimate, which government advisors currently recommend at 4.5-5.5%. The consensus from economists is 4.9% but there’s some chatter about 6%. The two swing factors are
Gold closed with strong gains of 2.50% on the week as the markets took solace in their notion that the US Federal Reserve may pause rate hikes in next few months and the next hike would be 25 bps, not 50 bps. The US 10-year yields were up 0.30% on the week, while the US
The likelihood of higher and sustained interest rates in the US and Europe is increasing as time goes on. This expectation has led to some volatility in risk markets, but the late rally in stocks indicates that sentiment remains resilient. Despite a rally in treasury yields, Dollar ended the week as the worst performer, with