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New Delhi: Gold prices traded flat on Wednesday as investors held back from making big bets ahead of the US Federal Reserve’s latest policy meeting, which could offer clues on further interest rate hikes. Fed’s minutes are due later in the evening. US durable goods data and weekly initial jobless claims are also on traders’
New Zealand Dollar rises broadly after RBNZ delivered the historical 75bps rate hike as widely expected. Yet, it’s staying in near term range against the greenback. For now, Euro is following Kiwi as second strongest for the day, then Swiss Fran and Sterling. Canadian Dollar is the weakest, followed by Yen and Aussie. Apparently, Aussie
The November FOMC meeting statement caused a bit of a stir when the Fed introduced this new passage to markets: “In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and
NEW DELHI: Gold prices rose on Tuesday, recouping some of the last session’s decline, as the US dollar eased, with the focus turning to minutes from the US Federal Reserve’s latest meeting for clues on future rate hikes. Gold futures on were trading higher, gaining 0.21% or Rs 108 at Rs 52,400 per 10 grams.
Dollar and Euro are so far the worst performer in quiet trading today. The greenback is clearly weighed down again by stocks’ rise and yield’s decline. There are news that China’s Shanghai is back in tougher restrictions, but investors are not too bothered. Canadian Dollar is also soft after data showed retail sales contraction. Meanwhile,
The US treasury will complete their auction cycle for the week a day early as a result of the Thanksgiving holiday on Thursday. They will auction off $35 billion of 7 year notes at the top of the hour. The current yield is around 3.883%. The six-month averages of the major components shows: bid to
Gold price in the national capital rose Rs 30 to Rs 52,731 per 10 grams on Tuesday amid appreciation in rupee, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 52,701 per 10 grams. Silver also climbed Rs 856 to Rs 61,518 per kilogram. The rupee appreciated 14 paise to
Dollar’s rebound stalled once again quickly, as risk markets appear to have stabilized. Overall, Swiss Franc is following the greenback as the second strongest for the week so far, then Canadian. Yen is the worst performer, followed by Aussie and Kiwi. Euro and Sterling are mixed with Sterling having an upper hand. Canadian retail sales
The greenback was the best performing major currency yesterday as it continued its recovery path from the latter stages of last week. That saw a turnaround in near-term sentiment for some dollar pairs but traders are still looking rather tentative for now. The dollar is slightly on the backfoot today, with broader market sentiment also
Oil prices dropped to their lowest since early January on Monday after the Wall Street Journal reported that Saudi Arabia and other OPEC oil producers are discussing an output increase. Brent crude futures for January had slipped $4.07, or 4.7%, to $83.55 a barrel by 1518 GMT. U.S. West Texas Intermediate (WTI) crude futures for
Dollar’s broad based rebound continues into early US session, as support by recovery in yields. While overall markets are trading in mild risk-off mode, there isn’t much follow through selling in European stocks and US futures. The greenback’s rally could be killed off quickly if risk sentiment turns. But for now, Dollar is the strongest
The USDCAD moved higher earlier in the session supported by the story that OPEC+ was mulling a 500K barrel per day production increase (see earlier post here). That pushed the price to the low of a defined swing area between 1.3494 and 1.3510, helped by the tumble in oil which saw the price test the
Goldman Sachs on Sunday cut its fourth-quarter Brent oil price forecasts by $10 to $100 a barrel, citing factors including a likely hit to consumption from China‘s COVID case spike. But the investment bank said that the China concerns were “another speed bump on the road higher,” since the major consumer has indicated that this
Dollar opened the week broadly higher, following last week’s late recovery. Swiss Franc also picks up some buying, especially against Euro and Sterling. Commodity currencies are mixed for now, with Canadian Dollar having an upper hand. Yen is also mixed as corrective trading continues. The week is relatively light with holidays. But there are still
This will be a continuation of the post I made last week here, highlighting the similar situation currently. As things stand, the dollar is continuing to show some fight as the selling momentum stalls. As mentioned then, this is where buyers and sellers will have to do battle in determining whether the next leg for
Maize prices have started rebounding in the past few days. Prices in Chhindwara rose about 5% since November 1 to date, trading at Rs 2,200 per quintal (ex-warehouse). In the ongoing season, maize prices bottomed out at Rs 2,100 levels, touched on October 27, 2022. Thereafter, prices have traded in a narrow range of Rs
The Baker Hughes rig count for the current week shows: Oil rigs rose 1 to 623. Gas rigs +2 to 157 Total rigs +3 to 792 The price of crude oil tumbled to a low of $77.24 but is trading at $78.82 currently The high reached $82.62 today. The price is below the 100 week