Adds that there is no sign that the shortages will ease Supply crisis to last until at least the end of the year This just adds to more of a passive outlook on the economy towards Q4 and more so for Germany, which relies heavily on its industry/manufacturing sector. Not only that, as long as
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NEW DELHI: Gold and silver futures continued to be under pressure on Friday following the Fed announcement of tapering. Gold is often considered a hedge against higher inflation, but a Fed rate hike would increase the opportunity cost of holding gold, which pays no interest. Fed Chairman Jerome Powell said the tapering process could conclude
The BOE voted 9-0 to leave the Bank rate at 0.1% at the September meeting. The members voted 7-2 to keep the QE program at 895B pound. Deputy governor Dave Ramsden and external member Michael Saunders favored lowering the amount of asset purchase to 840B pound. Policymakers warned that inflation could rise above +4% by
Forex news for US trade on Sept 23, 2021: Markets: Gold down $21 to $1747 S&P 500 up 53 points to 4448 WTI crude oil up $1.00 to $73.22 US 10-year yields up 9.2 bps to 1.42% NZD leads, JPY lags With the Fed out of the way and more indications that China is prepared
New Delhi: Gold in the national capital on Thursday declined Rs 294 to Rs 45,401 per 10 gram reflecting overnight fall in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,695 per 10 gram. In contrast, silver gained marginally by Rs
Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both will look into BoE and SNB policy decision today. Commodity currencies are on the softer
Latest data released by Markit – 23 September 2021 Prior 59.0 Manufacturing PMI 58.7 vs 60.3 expected Prior 61.4 Composite PMI 56.1 vs 58.5 expected Prior 59.0 The downside misses were already telegraphed by the German report earlier but this reaffirms a loss in growth momentum in the euro area as supply bottlenecks arguably a
NEW DELHI: Gold and silver futures dipped on Thursday, following global trends after US Federal Reserve signalled easing its monthly bond purchases by next year and a sooner-than-expected interest rate hike. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
No taper tantrum today The dots moved up Powell said it would only take a decent employment report for him to taper and that many are already ready to taper Powell roughly outlined a taper timeline Powell said long-term inflation expectations are still anchored. With the word ‘still’ indicating some new uncertainty Some of that
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Markets have turned quiet today as focus is shifted to FOMC policy decisions. While a tapering announcement is highly unlikely, there are still prospects of hawkish surprises in the dot plot and the economic projections. In the currency markets, Sterling is currently the worst performing one for the week, followed by Kiwi and then Aussie.
Modest gains in early trades German DAX futures +0.6% UK FTSE futures +0.6% Spanish IBEX futures +0.7% This follows a decent rebound in trading yesterday after the poor start to the week on Monday. The overall risk mood is keeping relatively steady for now as China jitters are placed on the sidebar with the Fed
NEW DELHI: Tracking global cues, gold prices were little changed in the domestic market, trading almost flat on Wednesday. Asian markets were trading cautiously amid rising uncertainties triggered by China’s Evergrande debt crisis and anticipation of policy cues from the US Federal Reserve on its timeline for reducing stimulus in the world’s largest economy. Gold
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both remain under pressured. Meanwhile, Swiss Franc and Canadian Dollar are taking the lead and strengthen
Back and forth trading in oil today WTI crude oil came into US trading at the highs of the day near $71.60 but fell sharply as sentiment deteriorated in early equity trading, dropping to $69.67 and briefly touching below yesterday’s low. Crude steadied from there and returned to $70.51. The daily chart is comfortably within
New Delhi: Gold in the national capital on Tuesday was marginally down by Rs 3 to Rs 45,258 per 10 grams inline with weak global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,261 per 10 grams. Silver gained Rs 40 to
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst performing so far, worse than even commodity currencies. Selling in European crosses is clearly weighing