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Oil prices rose on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates. Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer

In holiday-thinned Asian trading today, Euro’s sharp decline was the focal point. Investors’ reaction to European Parliament election results was overwhelmingly negative. The far-right’s significant gains have sparked concerns, driving the common currency through key support level against both Sterling, and a near term support again Dollar. This technical development suggests further downside risks for

Major US stock indices open lower to start the trading week. Last week the major indices did advance rebounding from the declines in the previous week. Dow Industrial Average average rose 0.29% S&P index rose 1.32% NASDAQ index rose 2.38% The snapshot of the market today shows: Dow Industrial Average average is trading down 80

Gold prices on MCX for August futures contracts fell by Rs 3,400 in the last 20 days and opened at Rs 71,012 per 10 grams while MCX July silver contracts experienced a sharp decline of Rs 6,000 in the same time period to open at Rs 89,474 per kg. Gold dropped 3.7%, its largest decline

As US session begins, Euro continues to face significant downward pressure, largely influenced by political developments in France. The call for a snap election following the far-right National Rally party’s gains in the EU election has sparked concerns among investors, driving French 10-year yield to its highest level since November. Additionally, the spread between French

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

UPCOMING EVENTS: Tuesday: UK Labour Market report, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, China CPI, UK GDP, US CPI, FOMC Policy Decision. Thursday: Australia Labour Market report, Swiss PPI, Eurozone Industrial Production, US PPI, US Jobless Claims. Friday: New Zealand Manufacturing PMI, BoJ Policy Decision, US University of Michigan Consumer Sentiment. Tuesday

Gold prices rose on Thursday, building on the previous session’s gains as investors awaited U.S. non-farm payrolls data that could determine whether interest rates will be cut earlier than expected this year. FUNDAMENTALS * Spot gold was up 0.4% at $2,365.40 per ounce, as of 0121 GMT, after a more than 1% gain on Wednesday.

The PBOC is China’s central bank and the biggest buyer of gold in the world. Data hit on Friday that the Bank bought zero gold in May: In May 2024 gold prices hit a record high, and it looks like the PBOC stepped back from reserve buying in response. The Bank had been buying in

Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Brent crude futures settled 25 cents lower at $79.62 a barrel, while U.S. West Texas Intermediate crude (WTI) fell

The major US stock indices are closing lower on the day, but higher for the week. This week, both the S&P and NASDAQ indices traded to the new all-time high levels. The S&P index reached a site today of 5375.08. That is its new all-time record high. The gains could not be maintained and the

Gold accelerated declines on Friday after a stronger-than-expected U.S. jobs report doused expectations for U.S. interest rate cuts this year, adding to bearish sentiment driven by data showing top consumer China held off on bullion purchases in May. Spot gold dipped about 3% to $2,304.54 per ounce as of 1757 GMT. U.S. gold futures settled

The US jobs report came in stronger, but then again there was some ambiguous/less strong components. Non-farm payroll rose 272K vs 185K estimate. Private payrolls rose 229K vs 170K estimate Average hourly earnings rose 0.4% vs 0.3% expected Average earnings YoY rose 4.1% vs 3.9% expected Those were the stronger-than-expected pieces of the report. The

Oil prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move. Brent crude futures rose 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas

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