Prior was +8.2% m/m CPI +0.4% vs +0.6% expected Prior m/m reading was +0.4% Real weekly earnings -0.1% vs -0.1% prior Core inflation: Ex food and energy +6.3% vs +6.5% y/y expected Prior ex food and energy +6.6% Core m/m +0.3% vs +0.5% exp Prior core m/m +0.6% This inflation report sets the stage for
News
New Delhi: Gold prices traded in a narrow range on Thursday as cautious investors stayed on the sidelines ahead of the key US inflation report to gauge the size of the Federal Reserve’s future interest rate hikes. The US consumer price index (CPI) report for October is due later in the day. Economists expect core
The selloff in cryptocurrencies spread to global stocks. Commodity currencies tumbled broadly following risk-off sentiment. Swiss Franc and Euro are currently the biggest winner from market sentiment, while Sterling softened notably against European peers. Dollar and Yen are mixed for now. Focuses will turn to US inflation today, which has the potential to trigger further
This brief from Soc Gen on the euro – outlining support and resistance ahead Interestingly, daily RSI has registered a multi month peak recently pointing towards short-term upside momentum. In case of a break beyond this channel, a revisit of the peak of September near 1.0190 is not ruled out. Graphical levels of 1.0360/1.0450 consisting
, Gold price in the national capital fell Rs 141 to Rs 51,747 per 10 grams on Wednesday amid rupee appreciation, according to Securities. In the previous trade, the yellow metal had settled at Rs 51,888 per 10 grams. Silver, however, climbed Rs 132 to Rs 62,400 per kilogram. The rupee appreciated 50 paise to
Swiss Franc rises broadly today as yesterday’s risk-on sentiment quickly faded. Dollar is also recovering together with Canadian while Yen is also slightly higher. On the other hand, Sterling is under some pressure, in particular against European majors. Australian and New Zealand Dollar are not far behind. In other markets, Gold lacks follow through buying
Prior -0.5% Market index 199.9 vs 200.1 prior Purchase index 162.6 vs 160.5 prior Refinance index 373.1 vs 386.7 prior 30-year mortgage rate 7.14% vs 7.06% prior Another week, another drop in mortgage activity as overall housing market conditions continue to take a hit as rates stay elevated amid a more hawkish Fed. As a
NEW DELHI: Gold prices retreated on Wednesday from a one-month peak scaled in the previous session, although prices flitted in a tight range as cautious investors stayed on the sidelines ahead of US inflation data due later this week. Investors’ focus remains on the US consumer price index report due on Thursday. The data is
Deutsche say they expect the UK to escape a recession in 2022 “by the smallest of margins”. But, after that their outlook is bleak indeed: Looking further ahead, we remain more downbeat on the economic outlook. Headwinds to the UK economy will almost inevitably push the economy into recession, with global growth slowing, confidence deteriorating,
Copper prices edged up on Tuesday, supported by low inventories level, but China‘s determination to maintain a strict zero-COVID policy capped gains. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) was up 0.3% at 65,780 yuan ($9,061.11) a tonne, as of 0755 GMT, while three-month copper on the London Metal Exchange (LME)
Markets continue to tread water today, having basically no reaction to economic data and comments from central bankers. For now, European majors are the slightly stronger ones, as led by Sterling. Commodity currencies are the weaker ones, with the Loonie being the softest. Dollar and Yen are mixed for now. But still, most pair and
The pair is little changed today and remains close to the notable resistance point at 0.6500 after its recent recovery when the dollar hit its latest peak last month. Since then, the greenback has very much consolidated gains against most major currencies and it is no different against the aussie. As things stand right now,
In these trying times, when inflation has begun to bite the consumers, gold should be reigning supreme. That is what conventional wisdom would say. Gold as a hedge against inflation is a textbook play, except that markets don’t play to the textbooks. Markets play to the momentum. For reasons we will discover later in the
The currency markets are generally quiet, without committed directions. Dollar is recovering broadly, ahead of near term support against European majors. Commodity currencies are softening while Yen is mixed. Some focuses be on US mid-term elections, as well as a Bundesbank symposium. But overall trading activities might remain subdued until US CPI release on Thursday.
Some encouraging data out of the UK for October. Not all good news however, devil-in-the-details sort of thing. Via a Reuters report: The British Retail Consortium said spending at major stores in October was 1.6% higher than a year earlier, slowing from 2.2% in September and representing a big fall in the volume of purchases
Gold price in the national capital gained Rs 81 to Rs 51,201 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had settled at Rs 51,120 per 10 grams. Silver, however, dropped Rs 244 to Rs 60,596 per kilogram. In the international market, gold was trading flat at USD
European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer ones overall. Dollar and Yen are
That’s a positive response to the setback from the start of trading today, with US futures having fallen by around 0.5% as we began European morning trade. The risk mood was rather sluggish early on after news that China is denying any pivot from its zero-Covid policy over the weekend. That saw the dollar gap