RBA SoMP due at 0030 GMT. It’ll up[date the Bank’s forecasts for inflation, GDP. The CPI projections are keenly awaited. The RBA has slowed its pace of rate hikes awaiting further data on how the economy is progressing compared with its forecasts. The Statement on Monetary Policy sets out the Bank’s assessment of current economic
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Gold price in the national capital fell Rs 402 to Rs 50,597 per 10 grams on Thursday, amid weak global trends, according to Securities. In the previous trade, the yellow metal had closed at Rs 50,999 per 10 grams. Silver, also, tumbled Rs 1,244 to Rs 58,111 per kilogram. “Gold inched lower on Federal Reserve
Sterling dives sharply after dovish BoE rate hike, which saw two doves dissented. Aussie and Kiwi are following as next weakest as risk-off sentiment persists. Dollar’s post-FOMC rally is accelerating, partly supported by expectation of a higher terminal rate for Fed, and partly by risk aversion. Yen is following as next strongest, and then Canadian,
It’s been a while since I’ve touched on gold but much like most other asset classes this year, it has been a rather straightforward trend against the dollar. With the greenback benefiting from a hawkish Fed and yesterday still being the case, gold is finding itself under pressure yet again as we head towards the
Gold prices edged higher on Thursday, helped by a slight dip in the dollar, although U.S. Federal Reserve Chair Jerome Powell’s hawkish remarks limited further gains in zero-yielding bullion. FUNDAMENTALS * Spot gold rose 0.2% to $1,638.32 per ounce, as of 0118 GMT, after falling 0.8% on Wednesday. * U.S. gold futures fell 0.6% to
Yen trades generally lower in quite Asian session today, but markets are relatively steady elsewhere. Stock markets are mixed with Nikkei closing higher, following the rebound in the US last Friday. But China is weighed down by poor PMI data. Generally speaking, traders are cautious ahead of many key events ahead in the week, including
Y’all Fed up yet? Right then, here is what is ahead for Asia on the data agenda. Nothing too much here to jiggle around major FX to much extent. The services (private survey) PMI from China will still be showing the effects of rolling COVID outbreaks and lockdowns. Still waiting for the Xi ‘pivot’ on
Gold price in the national capital gained Rs 51 to Rs 50,964 per 10 grams on Wednesday amid weak rupee, according to Securities. In the previous trade, the gold had touched Rs 50,913 per 10 grams. Silver, however, dropped Rs 502 to Rs 59,265 per kilogram. The rupee depreciated 12 paise to 82.71 against the
The financial markets are all very steady today, awaiting FOMC rate decision. A 75bps hike a done deal, and the key is whether Fed Chair Jerome Powell would signal slower tightening pace ahead. For now, Dollar is the weaker one for today, followed by Euro and Sterling. On the other hand, Yen is the stronger
A further slump in demand conditions sees the euro area manufacturing downturn deepen in October, with the headline reading being a 29-month low. Geopolitical uncertainty, high inflation and weaker economic conditions around the world weighed on foreign client spending with manufacturing output falling for a fourth straight month. S&P Global notes that: “The eurozone goods-producing
NEW DELHI: Gold prices ticked marginally higher on Wednesday supported by a pullback in the US dollar. All eyes were on the US Federal Reserve’s outlook on the future pace of interest rate hikes at the central bank’s policy outcome later in the day. Investors widely expect the Fed to raise its benchmark overnight interest
Dollar is trading mildly lower in Asian session today, but manages to maintain most of this week’s gain so far. The greenback will look into today’s FOMC rate decision, where a 75bps hike is well priced in. Today’s Fed meeting is not about today, but how Chair Jerome Powell would indicate the rate path ahead.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold price in the national capital rose Rs 177 to Rs 50,869 per 10 grams on Tuesday amid a rise in the prices of the precious metal in the international market, according to Securities. In the previous trade, the yellow metal price had touched Rs 50,692 per 10 grams. Silver price increased Rs 1,022 to
Dollar is back under some selling pressure today as 10-year yield dips back below 4% handle. Broad risk sentiment is also mildly positive. European majors are generally weaker too, together with Canadian. Yen rebounds on falling yields, but it’s outshone by New Zealand Dollar. Kiwi is supported additionally by buying against Aussie, which is also
German DAX futures +0.6% UK FTSE futures +0.6% Spanish IBEX futures +0.7% This mirrors the optimism seen in US futures, with S&P 500 futures up 0.6% at the moment. Nasdaq futures are up 0.7% and Dow futures up 0.5% as risk sentiment is looking rather positive in the transition to Europe. Chinese stocks have rallied
New Delhi: Gold prices were trading flat on Tuesday after touching their lowest levels in more than one week. The dollar held firm ahead of the US Federal Reserve’s policy meeting, where another rate hike is expected. US central bankers are expected to continue their inflation fight, even as a debate over when to downshift
Australian Dollar trades higher today, following recovery in Asian stock markets. RBA hikes by 25 bps as widely expected and indicates more tightening to come ahead. There is little reaction as the message is well digested by the markets already. Nevertheless, Aussie is slightly outperformed by New Zealand Dollar for the moment. On the other