The latest World Economic Outlook 2021 GDP seen at 5.9% from 6.0% in July 2022 GDP remains at 4.9% Cuts US forecast by 1 percentage point this year China 2021 GDP cut to 8.0% from 8.1% Risks tilted to the downside including emergence of new variants and more persistent supply-demand mismatches The IMF highlighted there
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New Delhi: Gold in the national capital on Tuesday rose by Rs 129 to Rs 46,286 per 10 gram amid rally in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,157 per 10 gram. In contrast, silver dipped Rs 120 to
Overall outlook in the financial market is unchanged, with Yen selloff as the main theme, as major global treasury yields continue to march higher. Euro is second weakest after ECB officials talked down the threat of inflation. Australian Dollar is trading broadly higher, followed by Kiwi. Dollar, Sterling and Loonie are mixed, with the greenback
An overnight piece from Platts on OPEC. Analysts at the firm note that many OPEC members did not hit their increased quota in September the coalition is producing far below what it said it would 19 members with production quotas under the OPEC+ supply accord were a combined 570,000 b/d below their allocations for the
London: World prices vaulted Monday to fresh multi-year pinnacles on strong demand and tight supplies, fuelling inflation worries and weighing on most European stock markets. London Brent oil jumped to a three-year high at $84.38 per barrel, while New York’s WTI crude leapt to a seven-year peak $81.72, though both eased lower later in the
Falling to the weakest level since August, USDCAD was the worst performer amongst majors (CAD best performer against USD). Loonie’s rebound was driven by energy prices and strong job data. Elevated inflation also has again heightened speculations about BOC’s rate hike. The major driver of loonie’s strength was energy price. Crude oil price rallied as
Yen continues to soften The yen is hitting new lows as higher energy prices inspire a fresh rotation into reflation trades. In Friday’s wrap I highlighted the AUD/JPY chart and the potential for a break above the September high. That’s exactly what we got today as that move follows earlier breakouts in CAD/JPY and USD/JPY.
New Delhi: Gold in the national capital on Monday fell Rs 59 to Rs 46,038 per 10 grams amid weak international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,097 per 10 grams. Silver also tumbled Rs 196 to Rs 60,369 per kg, from Rs
New Zealand Dollar trades mildly lower together with commodity currencies in quiet Asian session. Overall markets are mixed as Japan and Hong Kong stocks head lower, decoupling from the strong rebound in the US overnight. Dollar appears to be supported by the rise in treasury yields, with 10-year yield back above 1.5 handle. Yen is
An extract from ABN Amro on gold, analysts looking for USD1700 by the end of this year and USD1500 at end 2022. Citing 3 reasons. 1. Tighter global monetary policy ahead: Fed to start hiking early 2023 Bank of England and Bank of Canada to probably hike before then ECB, Bank of Japan, Reserve Bank
NEW DELHI: Gold prices edged higher on Friday but were stuck in a narrow range. Investors moved to the sidelines ahead of a US payrolls report that is expected to provide clues on the Federal Reserve’s tapering timeline. Gold futures on MCX were higher 0.16 per cent, or Rs 75, at Rs 46,902 per 10
Yen was once again sold off broadly last week, following late rally in treasury yields despite disappointing US job report. Resilience in overall risk appetite also kept the Japanese currency pressured. Meanwhile, Euro followed as as distant second worst on selloff in crosses, as well as Dollar. New Zealand Dollar’s weakness was a surprise as
This of course follows along from the stink caused by Australia agreeing to buy US nuclear submarines and tear up its contract with France for diesel subs. Part of the new AUKUS agreement. US to sell 12 Sikorsky Romeo Seahawk helicopters to Australia will eventually replace the Australian Navy’s 6 Airbus-made MRH-90s Australia’s navy already
Petrol and diesel prices were hiked across India for the sixth consecutive day on Sunday. In Delhi, the petrol prices were hiked by 30 paise per litre, taking it to Rs 104.14, while diesel prices in the national capital have gone up to Rs 92.82 per litre with the hike in price by Rs 0.35.
China has flagged banning private capital from news reporting and distribution. Part of China’s crackdown on … everything? The National Development and Reform Commission of the People’s Republic of China (NDRC) published a proposal late Friday: Seeking to bar private investments in the establishment and operation of news outlets also will not be permitted to
New Delhi: Gold in the national capital on Friday rose Rs 50 to Rs 45,959 per 10 grams amid gain in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,909 per 10 grams. Silver in contrast dipped by Rs 922 to