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Yesterday, the US CPI was a friendly number as it came in lower than expectations. Today, the PPI data was the exact opposite. The headline numbers for the month were not only higher, but the prior months were revised higher as well. The USD and yields move higher initially after the report, but the memory

Spot gold corrected lower on Friday following three straight days of gains which had pushed it to the highest level since May 22. The metal closed with a slight loss of 0.11% at $2411 on Friday as it rose for the third straight week. It was up 0.83% on the weekly closing basis. The US

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Motilal Oswal Financial Services forecasts a bullish outlook for silver, projecting prices to reach Rs 1,25,000 domestically within 12-15 months. Despite recent gains of over 30%, analysts anticipate periodic profit-taking, advising investors to capitalise on any significant dips in prices. Key support levels identified by Motilal are near Rs 86,000-86,500. The upward revision of price

Dollar is under some selling pressure in early US session despite stronger-than-expected PPI readings. However, downside momentum of the greenback is relatively limited. The post-CPI selloff yesterday did not gain significant traction, partly because stock markets unexpectedly retreated. Currently, futures are indicating a flat opening, and if activity in risk markets remains subdued in this

The Japanese government tends to release their economic growth forecasts twice a year, one in January and one in July. The latest one should come some time next week and the sources above are saying that they will be cutting its growth forecast for fiscal year ending March 2025. The revised estimate is to see

Gold prices traded marginally higher early on Friday amid some profitbooking after a strong Thursday rally which saw the yellow metal breach its highest levels in five months after softer US inflation data cheered Street on hopes of at least two rate cuts this year. The Indian bullion prices took their cues from the international

Japanese Yen is currently the best performer of the week, bolstered by alleged intervention by Japanese authorities overnight. Both Finance Minister Shunichi Suzuki and outgoing top currency official Masato Kanda declined to confirm whether Japan had intervened, with Suzuki reiterating that foreign exchange levels should be market-determined but rapid fluctuations are undesirable. He added that

ICYMI, Adam had the breaking info: Going with the flow worked out well this time, its created a bit of a ‘gap’ now. 159-161, give or take. Recent months have shown that gaps like this hanging overhead get nibbled at. Will it be any different this time? There does seem to be a broader move

Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve‘s interest rate path. Spot gold was up 0.2% at $2,375.70 per ounce, as of 0200 GMT. U.S. gold futures rose 0.1% to $2,381.30. The dollar was on

Dollar tumbled sharply in early US session following lower-than-expected consumer inflation readings. Headline CPI showed its first month-over-month decline since early 2023, while core CPI annual rate unexpectedly slowed to its lowest level since April 2021. Now, a September Fed rate cut is becoming a realistic possibility. Fed fund futures are quick to react and

As for this year itself, the agency is keeping their demand growth forecast largely steady at 970k bpd. IEA notes that the post-pandemic rebound in Chinese consumption has now run its course. And while China has accounted for roughly 70% of global demand gains last year, it is only holding a share of around 40%

Gold August futures have surged nearly Rs 1,200 so far in July, opening today at Rs 72,820 per 10 grams, while silver September futures have increased by Rs 3,900 in the same period, with prices opening today at Rs 93,476 per kilogram. Gold and silver closed with mixed results ahead of US inflation data, while

Dollar weakened notably against Sterling and Aussie overnight, but held steady against other currencies. Market focus is now on the upcoming US consumer inflation data, with expectations of a slowdown in the headline CPI and steady core CPI. Fed Chair Jerome Powell’s testimony this week boosted risk sentiment, driving US stocks to record highs. However,

Fed Powell reiterated the dual risks. That is it’s not just inflation as chair Powell feels it is starting to decelerate again. This time employment is also a concern. Bad news is still good news. That may change going forward, but for now the broader S&P and NASDAQ once again closed at record levels. For

Oil prices steadied on Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) kept its growth forecast for oil demand unchanged for this year and next, while U.S. crude and gasoline inventories likely fell last week. Brent futures were down 11 cents, or 0.1%, at $84.55 a barrel at 1212 GMT, after falling 1.3%

Yen continues its extended selloff today, except against New Zealand Dollar, in an otherwise subdued forex market. Reports indicate that BoJ may lower its economic growth forecasts for this year at its meeting later in July, while predicting that inflation will hover around 2% target in the coming years. These updated forecasts could keep the

In case you missed the decision earlier: RBNZ leaves it cash rate on hold at 5.50%, as expected NZD/USD daily chart The pressure is staying on the New Zealand dollar today, as it is holding at the lows for the day currently. NZD/USD is down 0.8% to near 0.6070 and is testing key support levels