NEW DELHI: Gold prices slipped sharply on Thursday as the strong US dollar weighed on the sentiment. Expectations of another big rate hike from the US Federal Reserve further dented the yellow metal. The dollar index edged towards recent peaks as hotter-than-expected inflation data boosted bets for even more aggressive monetary policy tightening by the
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The markets are overall steady in Asia today. Yen attempted a rebound yesterday but there was no follow through buying so far. Dollar’s rally also lacks sustained push. While commodity currencies are staying as the worst performer for the week, there is sign of some live against Euro. But that’s probably more due to Swiss
Reuters monthly poll of Japanese firms taken August 31 – September 9: three quarters of Japan firms concerned about Taiwan crisis; slim majority have no plan to respond 58% of Japan firms see Taiwan crisis to affect their business relations with china only 13% of Japanese firms expect yen at 141 or more vs dollar
Gold price in the national capital declined Rs 265 to Rs 50,616 per 10 grams on Wednesday despite rupee depreciation, according to HDFC Securities. The price of the yellow metal had touched Rs 50,881 per 10 grams on Tuesday. However, the COMEX spot price of gold was marginally higher at USD 1,705 per ounce compared
Yen is shrugging off rally in US and European benchmark yields today, and rebound on threat of intervention in Japan. European majors are also finding some foots while Dollar turned mixed. Still commodity currencies are under broad based selling pressure. While US futures might point to a flat open, selling could come back later in
With Europe having to play catch up to the washout in Wall Street yesterday, US futures are finding some relief at least but the question seems to be how long can it last? The snapshot of the performance of US stocks yesterday was abysmal to say the least with the S&P 500 closing down 4.3%,
Crude oil prices have been in a downward spiral for the last three months in a row and hit an eight-month low last week. Prices have erased the entire geopolitical risk premium and are back at the levels when Russia first attacked Ukraine in February 2022. Crude prices cruised as high as $139 a barrel
Dollar surged overnight, partly as traders added bet of another aggressive rate hike by Fed next week, and partly on deep risk aversion. Though, there is no follow through buying in Asia, as the greenback is now consolidating gains. On the other hand, Yen appears to be talked up by Japanese officials, and reports that
Westpac have updated their Australian dollar outlook, in brief: The Russia-driven supply squeeze should keep a floor under energy prices, strengthening Australia’s already large trade surpluses. But Aussie rallies should be capped against a US dollar backed by the Fed’s determination to remain aggressive on rate hikes until there is compelling evidence of core inflation
Gold price in the national capital declined by Rs 314 to Rs 50,905 per 10 grams on Tuesday amid rupee appreciation, according to HDFC Securities. The price of the yellow metal touched Rs 51,219 per 10 grams on Monday. However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared
Dollar rebounds strongly in early US session after stronger than expected consumer inflation reading. 10-year yield jumps sharply and breaks above 3.4% handle DOW futures are down over -300 pts at the time of writing. The case for a 75bps hike by Fed is pretty much sealed. The question is whether markets will bet on
Prior 89.9 US small business confidence picked up slightly in August as worries about inflation subsided and demand for workers remained strong despite relative economic uncertainty. The number of businesses that reported that inflation was their single most important problem was seen at 29% – down 8 points from July, which was the highest since
Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path. FUNDAMENTALS * Spot gold rose 0.1% to $1,725.70 per ounce, as of 0041 GMT. * U.S. gold
Dollar and Yen are staying as the weakest ones for the week as focus turns to US inflation data. European majors are the strongest ones so far, even though Euro’s rise is losing some momentum. Commodity currencies are mixed for now, despite improving risk sentiment. Technically, EUR/JPY’s rally is slowing ahead of 61.8% projection of
Referring to this from Monday’s info: Goldman Sachs‘ chief economist Jan Hatzius is not worried: “I don’t think it’s a black swan” “I don’t think it’s going to have a major impact on food prices, certainly beyond the very near term” Hitting 30% of US freight sure sounds like a supply chain snarl worry. ADVERTISEMENT
Gold prices ticked higher on Monday as the dollar hovered near recent lows, with investors’ focus being on a key U.S. inflation reading as it could influence the size of the Federal Reserve’s next interest-rate hike. FUNDAMENTALS * Spot gold rose 0.1% to $1,717.17 per ounce, as of 0057 GMT. * U.S. gold futures were
Euro leads Sterling and Swiss Franc higher today, and stays firm so far. The common currency was apparently lifted by hawkish comments from ECB official over the weekend. Sterling shrugs off slightly worse than expected GDP and production data. Dollar and Yen are currently the weakest ones. Commodity currencies are mixed for now, with Canadian
That’s a tough pill to swallow and Russia is quite literally laughing its way to the bank, as one can say. In July, Germany imported goods from Russia totalling a value of €2.9 billion. That amount is 10.2% higher than the value of imports seen in July 2021. Of course, the main reason for the