Prior +6.6% Market index 320.4 vs 307.4 prior Purchase index 242.8 vs 225.0 prior Refinancing index 712.7 vs 735.5 prior 30-year mortgage rate 5.98% vs 5.65% prior A rush in home buying before the Fed? That is perhaps the case as the average long-term mortgage rate climbs by another 33 bps to its highest since
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Gold price in the national capital on Wednesday fell by Rs 205 to Rs 50,487 per 10 gram in line with a decline in international rates of the precious metal, according to Securities. In the previous trade, the yellow metal settled at Rs 50,692 per 10 gram. Silver also tumbled by Rs 926 to Rs
Overall risk sentiment is rather indecisive in the markets. While US stocks staged a strong rebound overnight, there is no follow through buying in Asia. Dollar and Yen are trading mildly higher today, together with Swiss Franc. New Zealand Dollar is leading commodity currencies lower. Sterling is mixed for now but more volatility is likely
Reuters reports on remarks from Heather Boushey, a member of President Joe Biden’s Council of Economic Advisers, on Tuesday at an event hosted by the Washington Post. Asked about Biden’s recent comment that a recession was not inevitable, Boushey said she agreed, adding strong family balance sheets, the low unemployment rate and the economy’s ability
Oil prices rose almost $2 on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.80, or 1.6%, to $115.93 a barrel by 1209 GMT. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday,
Yen’s selloff accelerates today as US stocks are set to stage a rebound after the long weekend. For now, Euro is the strongest one with help from rebound against Sterling and Swiss Franc. It’s followed by Canadian Dollar, which is supported by slightly better than expected retail sales data. On the other hand, Kiwi and
The speed bump from jawboning by Japanese officials and market concern about a BOJ policy pivot slowed down the USD/JPY surge in the past week but now that we’ve cleared the latter, it is looking like buyers are taking charge again. The pair is now running up to 135.96, its highest since October 1998. The
New Delhi, Gold prices in the national capital on Tuesday dipped marginally by Rs 24 to Rs 50,686 per 10 grams, according to Securities. In the previous trade, the precious metal settled at Rs 50,710 per 10 grams. Silver, however, gained Rs 13 to Rs 60,609 per kg from Rs 60,596 per kg in the
The markets are rather mixed in Asian session today, engaging in mostly consolidative moves. New Zealand Dollar trades broadly lower following record low consumer confidence data. But Canadian and Australian Dollars are firmer on steady risk sentiment. Dollar is also weak together with Yen while European majors are mixed. Technically, NZD/USD dips slightly after failing
Posting this as an ICYMI. It comes via Bloomberg (gated). In very brief: China’s refining sector is set up mainly to serve its domestic market The government controls how much fuel can be sent abroad via a quota system It had 17.5 million barrels a day of capacity at the end of 2020, and will
Safe Haven! Is gold the best hedge against inflation? – The Economic Times Video | ET Now ET Now | 20 Jun 2022, 08:24 PM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=92343235&rlvideo=1808152121″></iframe> The ET Money Show | Is gold the best hedge against inflation?| Harsh Roongta decodes Read more on To see
Markets are generally quiet today, with a near empty European calendar and US holiday. Major European indexes are recovering slightly but lack follow through buying. Gold and oil are staying in tight range. In the currency markets, Aussie and Kiwi recover mildly while Dollar, Yen and Euro are the softer ones. But with the exception
Steady as she goes for the Swiss franc as it continues to creep higher after the SNB policy pivot last week. The downside push in USD/CHF ran into trendline support before stalling at the end of last week and that is the key area being tested once again currently. That said, the double-top pattern just
After a strong performance earlier this month, oil prices sold off violently last week, falling sharply along with risk assets including stocks. For the week, Brent futures declined for the first time in five weeks, while WTI dropped for the first time in eight weeks. Crude oil fell 7 per cent on Friday and was
Overall markets are rather steady in Asian session today. Even the free falling crytocurrencies are stabilizing slightly. Major Asian indexes, except Nikkei, are treading water. Dollar and Yen are softening slightly with Sterling. Aussie and Euro and mildly higher. But most major pairs and crosses are just stuck inside Friday’s range. Sterling would be a
Today’s runoff election in Colombia is decided as Rodolfo Hernandez has conceded to Gustavo Petro. The polls were even but Petro’s win is a rejection of two decades of the political establishment in Colombia. He was previously the mayor of Colombia and is expected to emphasize social policies. Petro had received 40% of the vote
Investment in Sovereign Gold Bonds (SGBs) went up sharply during COVID-impacted years as investors looked for safer options amid volatility in equity markets with 2020-21 and 2021-22 accounting for nearly 75 per cent of total sales of the bonds since the inception of the scheme in November 2015. The next tranche of SGBs is scheduled
The major US stock indices are closing the day with mixed results: Dow industrial average is down -38.31 points or -0.13% at 29888.79 S&P index is up 8.09 points or 0.22% at 3674.85 NASDAQ index is up 152.26 points or 1.42% at 10798.36 Russell 2000 is up 15.85 points or 0.96% at 1665.69 Some details