News

Market activity in Asia has been unusually subdued today, with trading volumes even quieter than expected for the first session of the week. The holiday closures in Japan and China are partly responsible for the reduced momentum, but a larger factor looms over the markets: the upcoming FOMC meeting, which is one of the most

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 on Monday at Rs 73,645 per 10 gram, which is up by 0.18% or Rs 130 while silver December futures contracts were trading nearly 1% highest at Rs 90,008/kg, up Rs 828. In the last one week, the prices of gold have gained Rs 2,200/10 gm while silver

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 higher today at Rs 72,230 per 10 gram, which is up by 0.56% or Rs 406 while silver December futures contracts were trading at Rs 87,727/kg, down by 0.73% or Rs 632. In the last 2 days, the prices of gold have gained Rs 1,300/10 gm while silver

UPCOMING EVENTS: Monday: New Zealand Services PMI. Tuesday: Eurozone ZEW, Canada CPI, US Retail Sales, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Wednesday: UK CPI, US Housing Starts and Building Permits, BoC Summary of Deliberations, FOMC Policy Decision. Thursday: New Zealand Q2 GDP, Australia Labour Market report, BoE Policy Decision, US

Indian Railway Finance Corporation Share Price 168.14 10:54 AM | 13 Sep 2024 1.12(0.68%) One97 Communications Share Price 664.9 10:54 AM | 13 Sep 2024 -1.11(-0.17%) YES Bank Share Price 23.72 10:54 AM | 13 Sep 2024 0.29(1.24%) ITC Share Price 513.8 10:54 AM | 13 Sep 2024 -5.71(-1.1%) HDFC Bank Share Price 1661.25 10:54

NASDAQ and S&P indices end the week with five straight days of gains As the day and week comes to a close, the JPY is ending the day as the strongest of the major currencies and the NZD is the weakest. The US is ending the day mixed with most of the declines coming vs

Gold prices powered higher on Friday, beating record levels, as a boost in bullish momentum fuelled by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates was catalysed by fund inflows and a drop in the dollar. Spot gold was trading at record levels, up 0.9% at $2,582.04 per ounce

The financial markets have been more influenced by speculations than by concrete economic data, as anticipation builds ahead of Fed’s interest rate decision on September 18. Recent US economic indicators, including the latest CPI report and the prior week’s non-farm payrolls, pointed toward a cautious and modest 25bps rate cut. However, traders and investors chose

China retail sales, industrial output, investment data for August 2024 – another round of disappointing results. Retail Sales +2.1% (YoY) (Aug) expected 2.5%, prior 2.7% Industrial Production +4.5% (YoY) (Aug) expected 4.8%, prior 5.1% Fixed Asset Investment +3.4$(YTD) (YoY) (Aug) expected 3.5%, prior 3.6% Unemployment 5.3% expected 5.2%, prior 5.2% Also published were home prices

Oil prices fell on Friday as U.S. Gulf of Mexico crude production resumed following Hurricane Francine and rising data showed a weekly rise in U.S. rig count. Brent crude futures settled at $71.61 a barrel, down 36 cents, or 0.5%. U.S. West Texas Intermediate crude (WTI) settled at $68.65 a barrel, down 32 cents, or

Yen continues to strengthen broadly today, maintaining its position as the best-performing currency of the week so far. Renewed speculation around a possible 50bps rate cut by the Fed has provided an extra lift to the Japanese currency. Additionally, renewed weakness in US and European benchmark yields further supports the Yen’s rally. BoJ is widely

The major US stock indices closed the day with gains. The NASDAQ and the S&P had a perfect week with five straight winning days. The NASDAQ index erased it -5.77% decline from last week with a gain of 5.95%. A snapshot of the closing levels today shows: Dow industrial average rose 297.01 points or 0.72%

Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of super-sized reduction in U.S. interest rates next week, while palladium has gained over 15% so far this week. Spot gold was up hitting a record 0.3% at $2,567.23 per ounce by 0703 GMT, after high of $2,570.21 earlier in

Dollar fell sharply overnight as the probability of a 50bps rate cut by Fed next week increased significantly. According to fed fund futures, the odds of a half-point cut now sit at around 40%, a notable jump from just 14% the day before. Market participants had widely assumed that Fed was firmly on track for

USD/JPY vs US Treasury 10-year yields (%) daily chart 10-year yields in the US are now down by 5.5 bps to 3.625% and that is weighing further on USD/JPY today. The pair is now down 1% to fresh lows at 140.43 and that is bringing closer the December 2023 low at 140.24 as well as

China, the world’s largest metals consumer, and uncertainty about the timing of interest rate cuts. However, the market reversed course in the following month, with most metals rebounding strongly, particularly aluminium, which managed to recover its earlier losses. After plunging to near six-month lows, aluminium prices staged an impressive comeback, climbing to nearly one-month highs.