It is a familiar start to the new week as equities are seen being more optimistic again and we all saw how things turned in the second-half of last week. Some dovish Fed talk on Friday was what really helped to secure a solid week of gains and the positive momentum is carrying forward, well
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SINGAPORE – Oil prices fell on Monday after China released much-delayed trade data which showed that demand in the world’s largest crude importer remained lacklustre in September as strict COVID-19 policy and fuel export curbs depress consumption. Brent crude futures for December settlement slid 40 cents, or 0.4%, to $93.10 a barrel by 0340 GMT
Sterling is the better performer in Asian session today. It’s supported by news that former Prime Minister Boris Johnson withdrew from party leadership contest on Sunday, even with enough support to make the final ballot. The development left business friendly Rishi Sunak, a former Finance Minister, as a favorite to replace outgoing Prime Minister Liz
The major European indices are ending the day with solid gains. Looking at the closing levels: German DAX, +1.58% France’s CAC, +1.59% UK’s FTSE 100 +0.64% Spain’s Ibex, +1.79% Italy’s FTSE MIB, +2.0% Looking at the daily chart of the German DAX, the high price today reached 13020.45. That was about 6 points shy of
Gold prices slipped on Monday, having risen 1.8% in the previous session, as the U.S. dollar firmed, although faint hopes that the U.S. Federal Reserve will adopt a less aggressive policy stance later in the year cushioned further decline. Spot gold fell 0.1% to $1,654.68 per ounce, as of 0330 GMT. Prices marked their biggest
Overall market sentiment is mixed today. European stocks are trading up together with US futures. But heavy selling was seen in Hong Kong and China stocks earlier. Commodity currencies appear to be weighed down by the negative side of the picture, while Dollar is firmer with European majors. Sterling is so far the better performer
Bloomberg with the report on continued COVID-related restrictions in China. This is in Guangzhou, the southern Chinese manufacturing hub that’s home to about 19 million people: All primary and middle schools in Haizhu district, where about 10% of the city’s total population lives, will halt in-person lessons from Monday. The restrictions come more than a
NEW DELHI: Tracking global cues, gold prices continued to fall on Friday and were headed for a straight second weekly loss. The yellow metal breached the Rs 50,000 mark despite the festive season in India. US Treasury yields held near multi-year highs following strong labour market data and hawkish comments from Federal Reserve officials, dampening
By Themla Gower The 20th National Congress of the Chinese Communist Party has now ended. Here are the top ten public policy takeaways from this rare event. 1) COVID containment: until a stronger, domestically-produced vaccine is produced, nothing fundamentally changes2) Economic growth targets: becoming #1 in the world is now considered not necessary nor advisable3)
As the Diwali festival approaches, millions of people in India and around the world prepare to celebrate. The vibrant festival is noted for its god worship, traditional gifts, lighting, decorations, diyas, sweets, and so on. Goddess Lakshmi, the Hindu goddess of fortune and prosperity, is associated with gold and is considered a vital aspect of
Chinese President Xi Jinping wrapped up the People’s Congress with a power move that vanquished his rivals and humiliated his predecessor. The moves leave no doubt that he personally consolidated power at the event, which takes place every 5 years. It was already widely expected that he would be confirmed for another 5-year term —
Negative investor sentiment due to a rapid rise in global interest rates, a strong US dollar, and higher bond yields, gold lost its glitter throughout this year. London spot gold prices fell for the seventh consecutive month in October, shedding more than 10% since January. Rising interest rates are typically an obstacle for gold as
On the day: S&P 500 up 91 points to 3766, or 2.5% Nasdaq Comp +2.3% Russell 2000 +2.3% DJIA +2.5% Toronto TSX +1.5% On the week: S&P 500 +4.7% Nasdaq Comp +5.2% DJIA +4.9% This is a nice daily candle but it will need to get above the October 18 with earnings set to pick
Buying gold is both prestigious and auspicious for Indians. Gold sales grow throughout festivals and wedding seasons. The best time to buy gold, however, is during Makar Sankranti, Akshaya Tritiya, Dussehra, Dhanteras, and Diwali. Dhanteras falls on the 13th day of the Hindu lunar calendar, marking the first day of the five-day Diwali festival. According
It’s a week of drama. In the UK, Liz Truss became the shortest-serving Prime Minister as political chaos continued, and the race for the next PM started immediately. In the US, stocks surged on Friday on talks that Fed could start slowing its rate hikes in December. Meanwhile, in Japan, the government waited patiently until
Markets: Gold up $27 to $1654 US 10-year yields down 1 bps to 4.22% WTI crude oil up 48-cents to $84.99 S&P 500 up 88 points to 3754 JPY and AUD lead, USD lags This week had it all and a good portion of it unwound today. We looked like we were going to get
Gold ETFs may gain traction during the Diwali and Dhanteras period and investors can consider 5% -10% of their fund allocation in this product, experts said. Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Asset Management Company, said, “Festivities have kicked in yet again and it is that time of the year where gold
Yen remains the biggest loser for the week even though Japan has stepped up with the rhetorics against “speculations”. Dollar is standing above 150 level against Yen for now, without clear sign of actual intervention. The pair is supported by 10-year yield which broke above 5.2 handle. Nevertheless, thanks to stabilization in overall market sentiment,