NEW DELHI: Gold prices declined on Monday, hitting multi-week lows. Markets are closely watching the US Federal Reserve meeting this week for clues on when the central bank will start tapering its crisis-era stimulus measures. Gold futures on MCX were marginally down 0.09 per cent, or Rs 41, at Rs 45,945 per 10 gram. Similarly,
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Plenty of bravado out there On the one side, there’s an army of China alarmists warning that Evergrande’s looming default is a Lehman moment for China’s property market. On the other, there are those brushing it aside, confident that China will bail out whoever needs bailed out and keep the economy strong no matter what.
Dollar and Yen were the runaway leaders in the forex markets last week. While Fed is not quite likely to announce tapering this week, recent solid data argues that November would finally be the date. Stocks in US and Europe have been losing much upside momentum as central banks are starting to prepare for slowing
Not a great look There’s been a brewing controversy around covid booster shots, which the President touted last month. Biden said they would start rolling out next week. However public health officials have some concerns around the quality of data mandating them. Many argue that the current vaccine regiment is extremely effective at preventing hospitalizations
Gold prices were set for a second weekly loss as a firmer dollar dented the metal‘s allure for holders of other currencies while investors await a key US Federal Reserve meeting for clues on how soon the central bank will start to taper stimulus. FUNDAMENTALSSpot gold was flat at $1,754.86 per ounce, as of 0037
Since the Jackson Hole symposium and the FOMC minutes, the pandemic has worsened in the US, while economic growth appears to be losing steam. These suggest that all monetary policy measures will stay unchanged with asset purchases staying at US$120B per month and the Fed funds rate target at 0-0.25%. We don’t expect any breakthrough
State media in China, Xinhua, with the article on remarks as Li Keqiang toured Guangxi province in the south of the country. Plenty in the report is familiar, he said the Party would vigorously promote reform and opening up, maintain economic operations within a reasonable range, form a more stable industrial chain supply chain Bloomberg (may be
NEW YORK: Oil prices fell on Friday as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output. Brent crude futures fell 33 cents to settle at $75.34 a barrel. US West Texas Intermediate (WTI) crude futures fell 64 cents to settle at $71.97 a barrel. For
Rally in Yen and Swiss Franc dominated trading for most of the day, and it stays firm in early US session. Nevertheless, as sentiment of US traders are not too pessimistic, buying in both slows a little bit. On the other hand, Australia, New Zealand and US Dollars are taking turns to be the worst
Forex news for North America trading on Sept 17, 2021: Markets: Gold down $1 to $1752 US 10-year yields up 4.3 bps to 1.376% WTI crude oil down 59-cents to $72.01 USD leads, CAD lags Coming into New York trade the market mood was fairly neutral. There were some concerns about China/Evergrande but the moves
MELBOURNE: Oil prices barely moved on Friday even as more supply came back online in the US Gulf of Mexico following two hurricanes, with benchmark contracts on track to post weekly gains of around 4% as the output recovery is seen lagging demand. US West Texas Intermediate (WTI) crude futures slipped 2 cents to $72.59
Swiss Franc and Yen are both under some selling pressure today, following rallying major global treasury yields. Sterling is weighed down by weak retail sales while Euro is not too far away. Dollar is mixed and Canadian and Aussie are the relatively stronger ones. The economic calendar is light in US session, and risk markets
The bounce after the European close fades There was a nice bounce after Europe logged off but it’s faded in the last 40 minutes. The S&P 500 is now retesting the lows of the day. It’s a pivotal moment here for risk assets into the weekend. That said, even if we get a terrible close
New Delhi: Gold in the national capital on Friday tumbled Rs 1,130 to Rs 45,207 per 10 grams reflecting overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,337 per 10 grams. Silver also plunged Rs 708 to Rs 60,183 per kg,
Overall markets are relatively quiet today so far. Yen continues to reverse this week’s gain as risk sentiment appear to have stabilized. Dollar also softens while Sterling dips mildly after poor retail sales data. On the other hand, commodity currencies are recovering, as lead by Canadian, which is then supported as WTI oil price stays
GBP gains ahead? The Bank of England has been pretty pessimistic for quite some time in its rate statements. However, reading the details has meant that signs of optimism keep sitting under the surface. The last central bank meeting was no different with both growth and inflation revised higher again. he BoE see GDP staying
NEW DELHI: Gold prices held steady on Friday, after a sharp fall in the previous session. A firmer dollar dented the metal’s appeal as investors await a key US Federal Reserve meeting for clues on the central bank’s taper plan. Gold futures on MCX were marginally down 0.06 per cent, or Rs 26, at Rs