Gold prices held steady on Friday but were on track for a fifth straight weekly gain, as a weaker dollar and hopes of slower U.S. interest rate hikes boosted safe-haven bullion’s appeal. FUNDAMENTALS * Spot gold was little changed at $1,930.59 per ounce, as of 0054 GMT. Prices rose 0.5% this week. * U.S. gold
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Australian Dollar tumbles broadly today after weaker than expected job data. Overall risk-off sentiment is also pressuring commodity currencies. On the other hand, Yen and Swiss Franc are strengthening together with Dollar. As for the week, Swiss Franc and Sterling are currently the best performer, thanks to additional support from buying against Euro. Aussie and
If you can make it all the way to January 19 without a truly tough day then it’s been a great start to the year: Stoxx 600 -1.6% German DAX -1.6% France’s CAC -1.8% UK’s FTSE 100 -1.0% Spain’s IBEX -1.5% Italy’s FTSE MIB +0.3% The question is, whether European stocks fall hard or this
Gold prices fell by Rs 52 to Rs 56,475 per 10 grams in the national capital on Thursday amid weak global trends, according to Securities. The precious metal closed at Rs 56,527 per 10 grams in the previous trade. Silver also tumbled Rs 850 to Rs 68,500 per kg. “Spot gold prices in the Delhi
Euro is lifted slightly by hawkish comments from ECB officials, as well as the meeting accounts. But overall, it’s risk-on sentiment that matters more for now, supporting Yen and Dollar too. Commodity currencies are so far the worst performers, with Aussie also weighed down by poor job data. Sterling and Swiss Franc are currently mixed.
Yen bulls are certainly not shying away even after the BOJ policy decision yesterday. In part, I think the constant barrage of commentary (from government officials and those with ties to the central bank) still suggesting a policy shift is enough to fuel the market’s appetite. Meanwhile, the dollar also made a strong comeback after
Gold prices inched higher in early Asian trade on Thursday as investors weighed chances of the U.S. Federal Reserve slowing its pace of interest rate hikes. FUNDAMENTALS * Spot gold was up 0.2% at $1,907.18 per ounce, as of 0028 GMT. U.S. gold futures rose 0.1% to $1,909.40. * Few Fed officials signalled on Wednesday
Yen falls broadly after BoJ defied some speculations and kept yield cap unchanged today. The announcement also sent Nikkei sharply higher while shot 10-year JGB yield down. Nevertheless, it’s still a bit early to confirm reversals in Yen crosses. Meanwhile, commodity currencies are trading firmer today. European majors are on the weaker side. In particular,
The US treasury is to auction off $12 B of 20 year bonds at the top of the hour. The current yield is around 3.72%. The 6 month averages of the major components shows: Tail -0.5 bps Bid to cover, 2.57X Directs (a measure of domestic demand), 17.2% Indirects (a measure of international demand), 71.9%
Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold. Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, after hitting a
Sterling and Swiss Franc rise notably today, with help from the buying against Euro. The common currency is weighed down by talks of slower ECB tightening in March, but remains resilient against Dollar. Nevertheless, the Pound and Swissy are outshone by Kiwi for now. Yen is starting to reverse some BoJ triggered selloff in early
The BOJ announced no change to its policy today (but it did up inflation forecasts slightly as expected) and that disappointed yen bulls and bond bears. However, the surprise factor was that they instead double downed on defending their yield curve control policy – instead of those anticipating that perhaps they may further tweak or
Russia became the third-largest oil supplier to India in 2022, making up about 15% of total purchases, dragging down OPEC‘s share to the lowest in more than a decade, data obtained from industry sources show. Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging on Russian oil sold at a discount
European majors are trading generally higher today, with help from strong improvement in Germany economic sentiment as well as solid UK job data. Commodity currencies are turning softer, with Canadian Dollar shrugging off CPI data. Dollar is mixed despite sharp decline in New York State manufacturing data. Yen is so far the weakest for today,
Stoxx 600 daily The euro fell and European stocks gained further (though later gave much of it back) on an ‘ECB sources’ report suggesting that after 50 bps in Feb, the ECB will slow to 25 bps. Stoxx 600 +0.3% German Dax +0.3% France’s CAC +0.4% UK’s FTSE 100 -0.2% Spain’s Ibex +0.1% Italy’s FTSE
Gold price fell Rs 130 to Rs 56,680 per 10 grams in the national capital on Tuesday amid weak global trends, according to Securities. The precious metal had closed at Rs 56,810 per 10 grams in the previous trade. Silver also declined Rs 232 to Rs 69,793 per kilogram. “Spot gold prices in the Delhi
Markets are generally stuck in tight range in Asian session today, with better than expected data from China providing no inspirations. Dollar is staying in consolidations in tight range, with no sign of a sustainably rebound yet. Similarly, Yen is in retreat in rather shallow manner. Volatility might start to jump with UK employment and
The Bank of Japan is meeting today, its policy decision will be handed down tomorrow sometime after 0230 GMT (which is 2130 US ET). The Bank intervened in the Japanese Government Bond market yet again today, buying the 10yr JGB. The yield on the 10 year JGB rose above the BOJ’s ceiling at 0.5%. USD/JPY