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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Copper has declined by more than 17 percent from its lifetime highs. Tepid demand from China, surging inventories in warehouses, and a strong US dollar have contributed to the bearish sentiment in prices. Copper inventory levels at different warehouses have reached multi-year highs. Latest London Metal Exchange (LME) data show that inventories in the LME-registered

Investors expressed clear dissatisfaction with last week’s US non-farm payroll report, not much due to a miss in job growth expectations, but data left the size of the upcoming Fed rate cut unsettled, raising fears that Fed’s indecisive stance could worsen the already fragile economic outlook. In response, US equity markets ended the week sharply

On Friday, shares of Nvidia fell 4% and chipmakers dragged the Nasdaq to its lowest in the three weeks. One reason for the sell-off was a Goldman Sachs note from Peter Oppenheimer arguing that traffic to ChatGPT was plunging. Goldman published this chart, which was later widely circulated (including in the Financial Times). It showed

On Friday, spot gold was highly choppy and volatile in reaction to the US nonfarm payroll report (August) as the report sent mixed signals on the possible pace of rate cuts that are likely to begin at the September FOMC meeting to be concluded on September 18. Fed officials’ comments on the US monetary policy

Markets: Gold down $20 to $2496 US 10-year yields down 1.4 bps to 3.72%, 2-year yields down 9.3 bps to 3.65% WTI crude oil down $1.07 to $68.08 S&P 500 down 1.7% JPY leads, AUD lags Non-farm payrolls Friday lived up to the hype, though it wasn’t exactly straightforward. The kneejerk reaction to the report

China’s central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed on Saturday. China’s gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves, however, rose to $182.98 billion compared with $176.64 billion at

The August US non-farm payroll report has been interpreted as largely dovish by the markets. Job growth showed clear signs of slowing, but the slight decrease in the unemployment rate has helped ease immediate recession fears. As a result, market expectations for a 50 bps rate cut by Fed this month have now risen above

WTI crude is still clinging to support but the picture is looking increasingly dire for brent. The global benchmark closed today at the lowest since December 2021. There have been a series of daily lows right around these levels and there are intraday lows that are worse since 2021 but this is the lowest daily

Oil pared gains on Friday after data showed U.S. employment increased less than expected in August, and was on track for a heavy weekly loss as demand concerns outweighed a delay to supply increases by OPEC+ producers. Brent crude futures rose 29 cents, or 0.4%, to $72.98 a barrel by 1320 GMT. U.S. West Texas

The financial markets are in a state of heightened anticipation as the much-awaited US non-farm payroll report is set to release today. This key data set will be critical in assessing whether the US economy is veering towards a recession, following the jump in the unemployment rate in July. For Fed, the NFP data will

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold October futures contracts at MCX opened flat on Friday at Rs 71,981 per 10 gram, which is up by 0.09% or Rs 64 while silver December futures contracts were trading at Rs 85,005/kg, up by 0.06% or Rs 49. In the last 2 days, the prices of gold have gained Rs 500/10 gm while

Dollar bears attempted to push the greenback lower following the release of much weaker-than-expected ADP employment data, but the downward momentum lacked conviction. Traders remain cautious, given that ADP data has not consistently aligned with non-farm payrolls, leaving room for surprises when the NFP is released tomorrow. Furthermore, today’s upcoming ISM services report could still

Crude oil futures is settling at $69.15 after trying to rebound for the first time in four trading days. It was not meant to be. The price is closing lower for the fourth consecutive day. The high for the day reached $70.78. The low for the day reached $68.79. What is not logical is that

OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in nine months, three sources from the producers’ group told Reuters on Thursday. Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China,

Dollar weakened broadly overnight after the latest JOLTS report showed significant drop in job openings, hitting the lowest level since January 2021. Economists are increasingly worried that the US labor market is cooling not just to pre-pandemic levels but potentially beyond. Such outlook could raising the possibility that the Federal Reserve may need to act

Prior +3.9%; revised to +4.6% The devil is in the details. The reading here has been volatile for many months already in 2024 and this is one of those times reflecting that again. If you actually exclude large orders (which tend to be a one-off), incoming orders were actually down by 0.4% in July compared