Yen rises strongly today, and buying intensifies in early US session, after surprisingly poor US GDP data. Benchmark treasury yield in both the US and Germany tumble sharply, aiding Yen’s advance. Swiss Franc is also strong For now, Euro is the worst performer for today, as selling started earlier in European session already, while Sterling
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NEW DELHI: Gold price little changed on Wednesday ahead of the Federal Reserve’s outcome as investors stayed cautious over the outlook for the bullion. The US central bank is widely expected to raise interest rates by another 75 basis points (bps) at the conclusion of its policy meeting on Wednesday, as it attempts to tame
Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro is staying under much pressure on
I can’t find any headlines behind the quick $1.40 drop in crude oil prices but it’s spilled over into the Canadian dollar. The selling started right at the top of the hour so I’m guessing that some flows are involved. We get weekly inventory data today from the US later today. The API numbers were
Gold in the national capital on Wednesday rose Rs 115 to Rs 51,166 per 10 grams, amid a rise in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 51,051 per 10 grams. Silver also climbed Rs 482 to Rs 55,485 per kg from Rs 55,003 per
The currency markets continue to be relatively steady today, as traders are holding their bets ahead of Fed’s expected 75bps rate hike. Euro is recovering slightly but remains the worst performer for the week, followed by Yen. On the other hand, Canadian Dollar is leading Australian and Sterling higher. Dollar is mixed for now. The
The UK’s Recruitment & Employment Confederation’s measure of confidence in hiring and making investment fell to -13 in the three months to June the lowest since the same period in 2020 down from -7 in the three months to May – Remarks from the report: “This new report clearly shows the effect of rising inflation
Gold rose marginally on Tuesday on the back of a weaker dollar, but the upside was capped as investors refrained from taking bigger bets ahead of the US Fed’s meeting over interest rate hikes. Expectations of around a 100-basis point rate hike surged after US annual consumer prices saw their sharpest spike in more than
Markets continue to be very quiet in Asian session today. Investors are clearly holding their bets ahead of tomorrow’s FOMC rate hike. Dollar is a softer one together with Yen and Swiss Franc. On the other hand, Canadian Dollar is firmer together with Aussie. Euro and Sterling are mixed. Generally speaking, most major pairs and
Sees 2022 growth at 3.2% vs 3.6% in April Sees 2023 growth at 2.9% vs 3.6% in April Chief economist says world ‘may soon be teetering on the edge’ of recession Sees 2022 China GDP 3.3% vs 4.4% in April Eurozone 2022 GDP 2.6% vs 2.8% in April; 2023 1.2% vs 2.3% in April US
New Delhi: Gold in the national capital on Tuesday fell by Rs 28 to Rs 51,192 per 10 grams, according to Securities. In the previous trade, the yellow metal finished at Rs 51,220 per 10 grams. Silver also declined by Rs 203 to Rs 55,297 per kg from Rs 55,500 per kg in the previous
Euro is under heavy selling pressure today on renewed worries over cut off of Russia gas supply. It’s additionally pressured and Germany 10-year yield breaks below 1% handle again. For now, Sterling appears to be a distant second. On the other hand, Dollar and Yen are gaining most, followed by Swiss Franc. Commodity currencies are
ANZ-Roy Morgan Australian Consumer Confidence at a still very weak 82.5 prior 81.8 These sorts of levels were seen in the early pandemic stage. Terribly weak. Meanwhile household spending data is remaining solid. Meanwhile, the RBA will not what appears to be an unanchoring of inflation expectations in the survey: Household inflation expectations rose by
Oil prices rose on Monday, bolstered by a slightly weaker U.S. dollar and stronger equity markets in a session that seesawed between supply fears and expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement rose 68 cents, or 0.66%, to $103.88 a barrel by 1402 GMT, while
Dollar recovers mildly in quiet Asian session today, but it’s bounded inside Friday’s range except versus Canadian. The greenback will most probably wait until Fed Chair Jerome Powell’s comment, after another 75bps this week, before taking another firm move. As for today, Euro is so far the firmer ones, follow by Yen. New Zealand Dollar
It’s a huge week for US corporate earnings including all the big tech names but the economy hangs more on overall consumer demand. That’s why today’s results from barbecue-maker Weber come as a bit of a shock. We’ve known there would be a transition to services spending from goods spending for a long period but
Gold prices declined marginally to Rs 51,145 per 10 grams while silver plunged by Rs 1,331 per kg in the national capital on Monday, according to Securities. In the previous trade, the precious metal settled at Rs 51,150 per 10 grams. Silver fell sharply by Rs 1,331 to Rs 54,351 per kg from Rs 55,682