The major US indices are up for the 2nd consecutive day. Yesterday, the NASDAQ index soared by 3.43%. The S&P index increase by 2.65%. Today the border indices are tacking on additional gains of 2.25% or more. A snapshot of the market currently shows Dow industrial average up 605 points or 2.0% at 30785 S&P
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Gold prices in the national capital fell Rs 10 to Rs 50,783 per 10 grams on Tuesday amid appreciation in rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 50,793 per 10 grams. Silver, however, climbed Rs 774 to Rs 57,064 per kilogram from Rs 56,290 per kg. The
Japan appeared to have intervene in the currency markets again today. But USD/JPY is holding its head up, staying resilient around 32-year high. Both Dollar and Yen are among the worst as the financial markets are basically trading with solid risk-on sentiment. New Zealand and Australian Dollar ride on such sentiment and are the strongest
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
NEW DELHI: Gold prices rose on Monday, supported by technical trading after the previous session’s steep fall and a pause in the dollar rally. However, an impending oversized rate hike by the US Federal Reserve limited bullion’s appeal. A “hotter-than-expected” September inflation report doesn’t necessarily mean the US central bank needs to raise rates higher
Sterling is trading as the strongest one for today so far, even though there is not clear follow through buying except versus Yen. The Pound is supported by UK Finance Minister Jeremy Hunt’s decision that the government will reverse “almost all” the tax measures in the Growth Plan announced just three weeks ago. Yen’s decline
The major US stock indices are opening higher and erasing most of the declines from Friday’s plunge: Dow industrial average is up 527 points or 1.78% at 30162 S&P index is up 76.0 points or 2.12% at 3659 NASDAQ index is up 264 points or 2.57% at 10,584 The S&P last week closed just below
Gold price in the national capital fell Rs 40 to Rs 50,833 per 10 grams on Monday amid a fall in the precious metal prices in the overseas market, according to Securities. In the previous trade, the yellow metal had touched Rs 50,873 per 10 grams. Silver also declined by Rs 594 to Rs 56,255
The forex markets are rather steady in quiet Asian session today. Dollar is paring some gains while Euro and Yen are soft too. Sterling is leading the way higher, followed by commodity currencies. But overall, almost all major pairs and crosses are bounded inside Friday’s range. The economic calendar is also rather light today. Traders
Chinese President Xi Jinping gave his speech opening the 20th Communist Party congress in Beijing on Sunday. I posted this earlier: Reuters have a summary piece covering more: China will make its COVID-19 prevention measures more scientific, accurate and effective, a party spokesman said on Saturday, while reiterating Beijing’s stance that its pandemic approach is
Soybean prices have been trading lull despite soybean crop loss due to the recent rainfall. Prices are likely to correct further due to higher production and carryover stock. Prices of soybean can correct to Rs 4,500 per quintal in the coming weeks. The soybean crop has been damaged by 0.34MMT in MP and Rajasthan due
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
Mounting concerns over slowing demand from the top commodity consumer China, recession worries in top economies, and a strong US dollar weighed down base metals. Prices decreased heavily from the first quarter of the year when commodity prices rallied to multi-year highs immediately after the Russian invasion of Ukraine. China’s demand for industrial metals has
Key earnings for the week starting October 17: Monday, October 17 Bank of America Charles Schwab Bank of New York/Mellon Tuesday, October 18 J&J Netflix Goldman Sachs Intuitive surgical Interactive brokers United Airlines Wednesday, October 19 Tesla Procter & Gamble IBM Lam R Goldman esearch Travelers Alcoa Thursday, October 20 AT&T Freeport-McMoran Dow Whirlpool Friday,
Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month. FUNDAMENTALS * Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT. * U.S. gold futures dropped 0.6% to $1,666.80. * The dollar index was
It was an ugly day for stocks but if you told me before the CPI data that it would be hot and that stocks would trade flat on Thursday-Friday, I’d say that’s constructive. It sure doesn’t feel that way though. S&P 500 down 86 points to 3583 or 2.4% Nasdaq Comp -3.1% Russell 2000 -2.6%
New Delhi: Gold prices edged lower on Friday, adding more to the weekly decline, following the red-hot inflation numbers in the US, which increased the possibility of another aggressive rate hike from the US Federal Reserve. Data released on Thursday showed US consumer prices increased more than expected in September, as rents surge by the
There were so many important headlines last week. USD/JPY surged to new 32-year high with support from stronger than expected CPI, and as 10-year yield broke 4% handle. Japan maintained their stance that they will act resolutely on market volatility, without actual intervention. DOW staged a historic 1500pts U-turn on Thursday but gave up much