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Forex markets remain directionless as the week’s highly anticipated central bank activities. The rate cuts by both BoC and ECB failed to provide the expected catalysts for significant currency movements. Neither Canadian Dollar nor Euro managed to break out of their recent trading ranges following these policy adjustments. Similarly, Dollar continues to gyrate within its

US jobs report for May 2024 Prior month: 175K revised 165K Details of the May 2024 jobs report: non-farm payroll for May 272K vs 185K estimate. Two-month net revision -15K vs -22K prior Unemployment rate 4.0% vs 3.9% expected Prior unemployment rate 3.9% Participation rate 62.5 % vs 62.7% prior U6 underemployment rate and blood

Gold prices fell by Rs 1,200 per 10 gram on Friday reacting to sudden halt in gold buying by the Chinese central bank, which came on the back of spot gold prices hitting record highs that People’s Bank of China (PBOC) stopped gold purchases to its reserves in May. The move came after 18 months

Dollar rebounds broadly in early US session following stronger-than-expected employment data. Despite a slight uptick in unemployment rate, robust headline job growth and wage increases highlighted the US job market’s continued tightness. This suggests that Fed should remain cautious about premature policy easing. In reaction to the data, US futures tumbled significantly, pointing to a

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

Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply. Brent crude futures rose 27 cents, or 0.34%, to $78.68 a barrel by 0103 GMT,

Following ECB’s decision to lower interest rates by 25 bps, a move that aligned with market expectations, Euro remained relatively steady within its near term trading range. ECB President Christine Lagarde, speaking at the post-meeting press conference, deliberately avoided providing explicit forward guidance, stating that ECB is not pre-committing to any particular rate path. Lagarde

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

As the bullion displayed volatility over the last few days, the August futures of the yellow metal opened 0.55% or Rs 396 higher at Rs 72,914 per 10 grams, while silver July futures opened at Rs 91,550/kg, 1.22% or Rs 1,106 higher. Gold and silver recovered from their lows amid interest rate cuts by the

Canadian Dollar remains the weakest performer for the week at this point. Yet, losses is so far contained, with the recovery after the brief selloff following BoC’s rate cut overnight. While further cuts are anticipated within the year, the likelihood of another immediate adjustment in July is currently seen as unlikely , with market odds

ABN AMRO analysts on the European Central Bank meeting today, are with the broad consensus expecting a 25bp rate cut. But express caution on the path after that, citing the recent data, for example, firm services inflation still prevalent: the probability of a July follow up rate cut has fallen further ECB will maintain a

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent crude futures fell 20 cents or 0.3 % $78.16 a barrel. Brent closed below $80 for the first time

Trading in the forex markets is subdued US session gets underway, with weaker-than-expected U.S. ADP private job data failing to stir significant movement in the Dollar. Despite the slowdown in job gains and pay growth, the job market remains robust. US futures are pointing to a flat open, and the 10-year yield is down slightly.

ADP national employment report Prior month 192K revise to 188K National employment change for May xxxK vs 175K estimate Goods producing 3K vs 47K month Service providing 149K vs 145K last month Wages for job stayers 5% unchanged from prior month Wages for job changers -7.8% from 9.3% prior month. A lower number is indicative

Oil prices extended losses slightly from the previous session in early Asian trading on Wednesday after an industry report showed builds in U.S. crude and fuel stockpiles, adding to concerns around demand growth. Brent crude futures fell 14 cents, or 0.2%, to $77.38 a barrel by 0005 GMT. U.S. West Texas Intermediate crude futures fell

Forex trading in Asian session today was relatively muted, with market participants holding off on major moves in anticipation of impending key events. The spotlight is on BoC, with traders eagerly awaiting its rate decision. There is considerable speculation on whether the central bank will opt for an interest rate cut at this meeting or

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

Amid highly volatile sessions and disappointing US PMI data, gold August futures at MCX opened flat at Rs 72,160 per 10 grams down by 0.06% or Rs 43, while silver July contracts stood at Rs 92,099/kg, up 0.07% or Rs 66. Domestic markets settled on a positive note. Gold August futures contract settled at Rs72,203