Markets: Gold up $34 to $1867 US 10 year yields down 17 bps to 3.55% WTI crude oil flat at $73.67 S&P 500 up 95 points to 3924 NZD leads, USD lags We’re only four days into 2023 trading and we’ve already had some twists and turns, including some big ones today. The dollar was
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New Delhi, Gold price in the national capital declined Rs 153 to Rs 55,650 per 10 grams on Friday amid a fall in precious metal prices globally, according to Securities. The yellow metal had ended at Rs 55,803 per 10 grams in the previous trade. Silver also fell Rs 7 to Rs 68,700 per kilogram.
While the US delivers a set of solid non-farm payroll data, Dollar struggles to ride on it to extend the near term rebound. On the other hand, the report is being cheered by stocks investors, with futures shooting higher. Thus, risk-on sentiment is capping the greenback’s rally attempt. Softer than expected wage growth might be
Alongside the yen, the pound is a notable laggard today as cable falls further following a breakdown yesterday below 1.2000. The drop also took out support from the 23.6 Fib retracement level of the swing higher since September, seen at 1.1953. That gives sellers with more scope to chase a further downside move – potentially
Oil prices rose around 1% on Friday, extending gains from the previous trading session after data showed lower fuel inventories following a winter storm that hit the United States at the year end. Brent crude futures last gained 79 cents, or 1%, to $79.48 a barrel at 0203 GMT, after settling up 85 cents at
The forex markets are largely in tight range in Asian session today. Dollar is currently the strongest one for the week, after the rally attempt overnight. But traders are still holding their bets ahead of today’s non-farm payroll data. For now, Canadian Dollar is the second best, followed by Aussie. Yen is the worst performer,
November wages data from Japan: total cash earnings +0.5% yr/yr overtime pay +5.2% yr/yr inflation-adjusted real wages -3.8% yr/yr (Inflation -adjusted real wages are a key indicator of consumer purchasing power. They dropped at the fastest pace of decline since a 4.1% drop in May 2014 and followed a revised 2.9% fall in October. In
The ET Money Show: Why gold shines bright this year? – The Economic Times Video | ET Now ET Now | 05 Jan 2023, 08:16 PM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=96770134&rlvideo=1808152121″></iframe> The asset which is glowing brightly this year is gold! Will Gold deliver glittering returns in 2023?, we discuss
Dollar rises broadly in early US session as lifted by stronger than expected ADP private job data. Meanwhile, stock futures turn south, apparently triggered by affirmation of continuous tightening by Fed. Yet, traders would still hold the larger bets until tomorrow’s non-farm payrolls data. For now, Swiss Franc is following the greenback as the second
The saying is that central banks will look to stick with their prevailing argument/narrative for as long as they can get away with it, and that will apply again to the ECB as we kick start the new year. I mean, you don’t have to look too far back to be reminded of how stubborn
Gold prices held steady on Thursday, hovering close to a near seven-month high scaled in the previous session, while market participants prepared for U.S. jobs data that could influence the Federal Reserve‘s policy trajectory. * Spot gold held its ground at $1,854.89 per ounce, as of 0042 GMT. Prices rose as much as 1.4% to
Overall, the movements in the markets remain indecisive. Yen is staying soft after reversing all of earlier gains in the week, but holds above near term support levels. Dollar is stuck in familiar range against European majors and commodity currencies. The hawkish FOMC minutes provided no inspiration to the greenback. While Aussie surged yesterday, there
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Gold prices extended their New Year rally to jump more than 1% and hit their highest since mid-June on Wednesday, helped by a weaker dollar and growing expectations of less aggressive interest rate hikes at upcoming Federal Reserve meetings. Spot gold jumped 1% to $1,857.71 per ounce by 1326 GMT, hitting its highest since June
It’s looks like a rather typical risk-on day today, with Dollar and Yen trading broadly lower, while Aussie leads commodity currencies higher. Major European indexes are firmly up while US futures also point to higher open. US and European benchmark yields are trading down again. Gold is extending recent rebound, but oil prices are falling
The dot plots revealed that the Fed was seeing a more hawkish outlook for interest rates and it will be interesting to see what is it in the meeting minutes to reveal such sentiment. Especially when we are seeing inflation pressures cool off, not just in the US but also in Europe now. That said,
Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve’s December policy meeting. The Fed raised interest rates by 50 basis points (bps) in December after four consecutive increases of 75 bps each. If the Fed intensifies its rate hikes, that could
Aussie rises broadly today on news that China is considering to lift the ban on its coal partially. The move also takes Kiwi higher. On the other hand, Dollar is turning softer together with loonie. Despite yesterday’s rally attempt, the greenback is clearly hesitating ahead of today’s ISM manufacturing and FOMC minutes, as well as