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Dollar is trading with a slightly firm tone this week, though overall forex market activity has been relatively subdued. It’s worth noting that last month’s sharp selloff in US stocks was actually started with disappointing ISM manufacturing data, which was then exacerbated by the non-farm payrolls report. Given this backdrop, today’s release could trigger volatility

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Gold October futures contracts at MCX opened flat on Tuesday at Rs 71,526 per 10 gram, which is down by 0.1% or Rs 75 while silver December futures contracts were trading at Rs 84,426/kg, down by 0.15% or Rs 128. Gold prices have fallen by Rs 660/10 gm in the last 3 days while silver

In relatively quiet market environment, Japanese Yen is coming under increasing pressure, with notable selloff driven by rising benchmark yields in the US and Europe. With major European stock indexes largely flat and the US and Canadian markets closed for a holiday, the Yen’s decline has gained momentum. Several Yen crosses have broken near term

ISM manufacturing US markets are closed on Monday for Labor Day but will come to life on Tuesday including some notable economic data. The highlight is the 10 am ET release of the August ISM manufacturing index. In July, the survey disappointed with a fall to 46.8 compared to 48.8 expected. This month, economists expect

Gold prices were flat on Monday, after falling 1% in the previous session, with U.S. inflation data suggested that the Federal Reserve was more likely to go for a smaller-than-expected interest rate cut this month. FUNDAMENTALS * Spot gold was flat at $2,502.89 per ounce, as of 0015 GMT after hitting a session low of

In a typical Monday’s Asian trading session, the forex markets remained relatively subdued, with only modest movements observed. A mild sense of risk aversion was noted in the stock markets of Hong Kong and China, which exerted slight downward pressure on commodity currencies. This sentiment was largely driven by the disappointing official China PMI manufacturing

So, what’d I miss? It’s shaping up to be a bit of a lackluster start to the new week, with it being a North American holiday. The dollar is mixed and lightly changed overall after having seen a bit of a push and pull in trading last week. Nvidia earnings looked like it might’ve caused

Gold October futures contracts at MCX opened flat on Monday at Rs 71,500 per 10 gram, which is down by 0.16% or Rs 111 while silver December futures contracts were trading at Rs 84,190/kg, down by 1.2% or Rs 1,020. On Friday, gold and silver settled on a weaker note in the domestic and international

UPCOMING EVENTS: Monday: US/Canada Holiday, China Caixin Manufacturing PMI, Swiss Manufacturing PMI. Tuesday: Swiss CPI, Swiss Q2 GDP, Canada Manufacturing PMI, US ISM Manufacturing PMI. Wednesday: Australia Q2 GDP, China Caixin Services PMI, Eurozone PPI, BoC Policy Decision, US Job Openings, Fed Beige Book. Thursday: Japan Average Cash Earnings, Swiss Unemployment Rate, Eurozone Retail Sales,

Gold prices were little changed on Wednesday, but held near a record high hit last week on prospects of imminent U.S. rate cuts and safe-haven demand fuelled by the Middle East crisis. FUNDAMENTALS * Spot gold was flat at $2,524.88 per ounce, as of 0033 GMT. Bullion hit a record high of $2,531.60 on Aug.

SPX daily chart There was no lack of drama in the final day of equity trading in what was a wild ride in August. The S&P 500 opened strongly and then gave it all back to trade in negative territory at midday. However some steady bids emerged in the afternoon before a massive wave of

Gold prices gained on Thursday, helped by prospects of a U.S. interest rate cut in September and a weaker dollar, as traders awaited jobs data and a key inflation print from the world’s top economy for signals on the Federal Reserve‘s policy path. FUNDAMENTALS * Spot gold rose 0.46% to $2,513.73 per ounce, as of

In the final week of August, financial markets delivered unexpected developments that caught many by surprise. Investor sentiment decisively shifted towards a risk-on approach, propelling major indices like DOW and DAX to new record highs. This optimism was largely driven by expectations of forthcoming monetary easing from key central banks, including Fed and ECB. Despite

Markets: Gold down $19 to $2501 WTI crude oil down $2.47 to $73.44 US 10-year yields up 4.3 bps to 3.81% S&P 500 up 0.6% USD leads, JPY lags. It was tough to tie the fundamentals to the market moves today, as is often the case at month end. Tokyo CPI was hot earlier and

Gold investors returning from their summer holidays will be eager to see whether the precious metal can sustain its record-breaking rally, or if it will succumb to the curse of September. Bullion has dropped every September since 2017. Over that period, the average decline has been 3.2% in September – easily the worst month of

August 2024 official Chinese PMIs from the National Bureau of Statistics (NBS): Composite is 50.1 August Manufacturing PMI 49.1 expected 49.5, prior49.4 Services 50.3 expected 50.0, prior 50.2 — The Chinese economy has been showing, and continues to show, a patchy and uneven recovery. Key trouble spots include: an uncertain property sector outlook, the sector

Gold prices were little changed on Friday, but were poised for a monthly gain on prospects of a U.S. interest rate cut in September, while traders awaited key U.S. inflation data for further insights. FUNDAMENTALS * Spot gold was down 0.1% at $2,517.91 per ounce, as of 0037 GMT, and was on track to log