I posted earlier in the session on the new plan coming to support the nearly-dead property sector in China. This is in addition to China’s 20-point plan to deal with COVID in a more targeted way, not the slash-and-burn lockdown imposed across cities of millions when a handful of cases were found. Links here: The
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Gold prices inched lower on Friday but were headed for a weekly gain as data pointed at signs of slowing inflation, lifting hopes that the U.S. Federal Reserve would scale back on aggressive rate hikes. FUNDAMENTALS * Spot gold was 0.1% down at $1,751.87 per ounce, as of 0048 GMT. It is up 4.2% for
She sees further Fed hikes Too soon to call a peak in the rate cycle Risk of over tightening on rates has increased Comments from last Friday from Collins: It’s premature to comment on the ultimate level of rates I don’t believe a big slowdown is needed to achieve price stability Signs inflation surge is
Soybean Indore prices have shown a whopping 8% rally after the removal of stock limits on Oil and Oilseed for wholesale dealers and big retail chains, which was announced on November 01, 2022, and long demanded by the millers, crushers, and associations. This Step has perked up bulk demand for soybean that is not able
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Gold prices were trading flat on Friday, but were set for their biggest weekly gain in more than eight months, as positive US data boosted hopes against the Fed’s aggressive rate hikes. US consumer prices rose less than expected in October, indicating that inflation was slowing, which raised hopes that the Fed will begin scaling
The set of lower than expected consumer inflation data from the US was music of joy for investors. Stocks surged while treasury yield tumbled, on expectation that Fed is ready to start slowing down tightening pace in December. Risk-on sentiment was broad-based with NASDAQ starting to realign with DOW, despite crypto rout. Dollar suffered steep,
The major US stock indices are ending the day with gains that capped off a strong week. The final numbers are showing: Dow industrial average rose 33.07 points or 0.10% at 33748.64 S&P index rose 36.61 points or 0.93% at 3992.94 NASDAQ index rose 209.19 points or 1.88% at 11323.34 Russell 2000 rose 14.81 points
Spot gold prices in the international market have found support near $1600 an ounce and showing signs of reversal. The US midterm election, mixed US economic releases, and hints of a possible end of Russia-Ukraine war influenced the precious yellow metal. Negative investor sentiment due to a rapid rise in global interest rates, a strong
The USD moved lower for the 2nd consecutive day and the 5th day in the last 6 trading days. The dollar index (DXY) is down nearly 4% this week with all the major currencies gaining vs the greenback. The decline is the largest % fall since March 2009. The better-than-expected CPI on Thursday was a
Gold price in the national capital rallied Rs 294 to Rs 52,663 per 10 grams on Friday amid a rise in price of the metal in the international market, according to Securities. In the previous trade, the yellow metal had closed at Rs 52,369 per 10 grams. Silver also surged by Rs 638 to Rs
Dollar was sold off broadly overnight, following risk-on sentiments. Investors appeared to welcome the results of US mid-term election so far. But the decline in the greenback is not too committed so far. Dollar is still holding on to near term support levels against European majors, and even Aussie. The skepticism about risk sentiment is
Headlines: Markets: JPY leads, USD lags on the day European equities mixed; S&P 500 futures up 0.4% Gold up 0.2% to $1,758.77 WTI crude up 3.2% to $89.24 Bitcoin down 3.2% to $17,230 The post-CPI dump in the dollar continues to play out, as we see technical extensions across the board with the greenback suffering
Oil prices rose on Friday as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer China raised the spectre of weaker fuel demand. Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at
Dollar is overwhelmingly the worst performer for the week, after yesterday’s post-CPI selloff. Yen is the strongest one, with help from the steep decline in US yields too. European majors follow as next strongest, with Swiss Franc having an upper hand against Euro and Sterling. While US stocks surged and Asia followed, commodity currencies are
The United States Treasury has said it’ll be extending a general license that was set to expire next month. This allows some energy-related transactions with several Russian entities including Sberbank, VTB Bank, Alfa-Bank and Russia’s central bank to continue through to May 14, 2023. The comes just weeks before the Group of Seven’s December 5
Gold rallied by Rs 135 to Rs 51,898 per 10 gram in the national capital on Thursday amid a rise in price of the metal in international market, according to Securities. In the previous trade, the yellow metal had settled at Rs 51,763 per 10 gram. Silver, however, dropped by Rs 250 to Rs 61,618
Dollar dives sharply in early US session after lower than expected CPI readings. CPI might have really started to turn around, and that would support Fed to start slowing the pace of tightening. For now, Sterling, Aussie and Yen are the strongest ones while Swiss Franc and Euro are lagging behind. But it will take