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.
News
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
Cases are on the rise in Germany The 7-day incidence rate may have dropped today to 153.7 from the latest peak yesterday at 154.8 but that is still much higher than the 110.1 reading a week ago. For added context, towards the end of August, the figure was seen just above 50.0. Meanwhile, total active
NEW DELHI: Gold prices edged lower on Tuesday as a firm dollar made the bullion less appealing for holders of other currencies. That said, investors are eyeing a pivotal US Federal Reserve policy meeting. The Federal Reserve’s two-day policy meeting concludes on Wednesday as investors will seek cues on tapering amid growing concerns over a
The November FOMC meeting would see the Fed making a formal announcement on QE tapering. We expect the plan would begin immediately and is expected to end by mid-2022. The Fed funds rate will stay unchanged at 0-0.25%. The market has priced in over 60% of a rate hike in June 2022. This appears unlikely
Bank of American and Goldman Sachs with some bullish comments The OPEC+ decision is on Thursday and another 400k/bpd is expected to be added as OPEC sticks to the script. There’s some tail risk they could add more as the US and others lean on them. WTI is up 51-cents to $84.08 and rose as
New Delhi: Gold prices declined marginally by Rs 10 to Rs 46,673 per 10 gram in the national capital on Monday amid muted global trends, according to HDFC Securities. The precious metal had settled at Rs 46,683 per 10 gram in the previous trade. Silver also declined by Rs 230 to Rs 63,014 per kg
Japan’s Nikkei index surges sharply by over 2% in Asian session, in very positive response to the easy win of the Liberal Democratic Party in Sunday’s election. Prime Minister Fumio Kishida’s LDP retained comfortable majority in the House of Representatives, ensuring continuity of the economic policies. While other Asian markets are mixed, Yen is trading
Remarks by Japan prime minister, Fumio Kishida To include targeted payouts to temporary workers, families with children in need Wil consider resuming “go to” subsidised travel programme To unveil government’s COVID-19 response around the same time Japan to start booster shots in December That will at least help to ease the burden on the economy
NEW DELHI: Gold prices edged up higher in the domestic markets on Monday, bucking the global trend. However, it traded in a range ahead of the festive season. Gold futures on MCX were trading 0.15 per cent or Rs 75 at Rs 47,705 per 10 grams. Whereas, silver futures were down 0.16 per cent or
Euro ended as the worst performing one after the post ECB rally faded quickly. It’s clear that ECB would lag behind other major central banks in stopping to add stimulus, not to mention raising interest rate. The selloff in Euro also dragged down Sterling, as both were sold off against Swiss Franc. Australian Dollar ended
Reuters, citing a draft The global minimum tax has been in the works for awhile so it’s not a surprise. I could see it impacting capital flows over time but it’s tough to see it in any tradable way, especially with so much of the implementation (and loopholes) still unknown. Other headlines from the draft:
NEW DELHI: Gold prices declined in the domestic markets, bucking the global trend. At the international level, the yellow metal was set to mark its straight third weekly gains. Ease in US bond yields and a tepid dollar aided bullion’s safe-haven appeal. A weaker greenback makes gold more attractive to buyers holding other currencies. Meanwhile,
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Purchasing Managers’ Index (PMI) data from China’s National Bureaus of Statistics and the China Federation of Logistics and Purchasing (CFLP) Manufacturing PMI 49.2 expected 49.7, prior 49.6 the second month of contraction in a row, energy shortages and high input prices taking a toll Non-manufacturing PMI 52.4 expected 52.9, prior 53.2 this is a reasonable
Mumbai: Finally, gold is set to regain its sparkle this Diwali as jewellers are expecting up to 30 per cent sales growth over the pre-Covid levels on the back of a faster-than-expected economic recovery along with lower prices and pent-up demand. The gems and jewellery industry witnessed a near washout during ‘Diwali’ and ‘Dhanteras’ 2020,
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