NFP to round things off in trading this week Amid all the focus on central banks over the past few days, one can easily forget that we still have one of the bigger data points that the Fed and the market tends to look at. With that in mind, we may not get much notable
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Gold prices have witnessed negative returns in India till now in 2021, losing 5% when compared with the broad rallies of 2019 and 2020, which saw 13% and 26% returns, respectively. Gold prices started the year on a negative note as the reopening of global economic activities and large-scale vaccination improved investment sentiment in riskier
We were surprised that the Committee voted with overwhelming majority to leave the Bank rate at 0.1%. Despite Governor Andrew Bailey’s hawkish comments ahead of the meeting, the was one of those who voted to leave the policy rate unchanged. The BOE also decided to leave the QE program at 875B pound. On the economic
Bailey speaking after the BOE Market rate pricing was perplexing Says he’s not surprised to see a correction in markets Over the summer we were observing evidence of rising inflation pressures but market rates were coming down If we see inflation expectations de-anchor we will have to act He’s not making any friends today. Invest
Softening gold prices and pent-up demand have driven festive gold and jewellery sales with early numbers indicating strong sales on Dhanteras on Tuesday. Leading trade body, the India Bullion & Jewellers Association (IBJA), said this year’s Dhanteras sales are expected to return to pre-Covid levels and surpass those of last year by 15-20%. “Reports trickling
US stocks surged to new records overnight despite Fed’s tapering announcement. Positive sentiments also continued in general in Asia. Dollar remains mixed for now and traders are probably awaiting tomorrow’s non-farm payroll report before taking a commitment. Focus will now turn to BoE rate decision, as Sterling is trading with an undertone. Technically, The general
Kaisa shares and dollar bonds tumble amid fears of a liquidity crunch After the firmed stated that its October sales plunged by over 30% compared to a year ago yesterday, its shares are dropping by more than 12% on the day with the low earlier being an all-time low (drop of more than 14%).Invest in
Gold prices inched lower on Wednesday as investors awaited the result of a U.S. Federal Reserve policy meeting to assess how the central bank plans to combat rising inflation and ease worries about economic recovery. FUNDAMENTALS * Spot gold fell 0.2% to $1,784.04 per ounce by 0138 GMT. U.S. gold futures dropped 0.2% to $1,785.30.
The markets are generally quiet as FOMC tapering announcement is awaited. Major European indexes tread water while US futures are mixed. Global benchmark yields are trading lower for now. In the currency markets, Canadian and Dollar are both weakening mildly today. Stronger than expected ADP job report gives little support to the greenback. New Zealand
Sideways trading through the statement Early US dollar strength has moderated in the lead-up to the FOMC decision, with the euro and pound bouncing back. Gold has finally found a floor at $1760 after the earlier agressive selling. The S&P 500 is down 6 points. Many eyes are on the front end of the Treasury
New Delhi: Gold price in the national capital on Wednesday tumbled by Rs 375 to Rs 46,411 per 10 grams amid a decline in the international prices of precious metals as well as rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,786 per 10 gram. Silver
Overall markets are quite mixed for now. While US indexes surged to new record highs overnight, positive sentiment was not carried forward to Asia. Major pairs and crosses are also stuck in range. It seems that traders and investors have turned into cautious mode, awaiting Fed’s tapering decision. For now, Euro and Swiss Franc are
The FOMC meeting is the key focus in the day ahead As such, one can expect quieter tones to prevail in the run up to that and in the European morning session ahead. As for what to expect from the Fed, I outlined some thoughts earlier in the week as per below: I believe this
NEW DELHI: Gold and silver prices declined on Wednesday following the trend in the international markets and ahead of the crucial US Federal Reserve policy meeting outcome. The Fed is expected to announce its stimulus tapering timeline at 1400 GMT on Wednesday. It is likely to begin paring its monthly asset purchases by $15 billion
Yen extended rebound in European session following the sharp fall in benchmark Germany yield. But struggling to extend gain as markets enter into US session. Overall markets are mixed as investors are probably turning cautious ahead tomorrow’s FOMC policy decision. As for today, Aussie remains the worst performing one after post RBA selloff, followed by
Odd fixing time this week The London fix this week hits right at noon in New York because the UK changes clocks a week before NY. That might have left the market a bit thinner, especially ahead of the Fed tomorrow. In any case, the commotion currencies are getting hit hard today, especially the antipodeans.
New Delhi: Gold in the national capital on Tuesday gained Rs 53 to Rs 46,844 per 10 grams reflecting overnight rebound in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,791 per 10 grams. Silver also moved higher by Rs 45 to Rs 63,333
Australia Dollar tumbles broadly today as markets are dissatisfied with RBA’s dovish stance, even though yield curve control is abandoned. Commodity currencies are also trading generally lower. On the other hand, Yen is staging a strong rebound after Japanese Finance Minister Shunichi Suzuki said he’s keeping an eye on the weakening exchange rate. The move is