Risk-on sentiment returned to global markets again in early US trading, driven by lower-than-expected inflation data. While annual PCE core inflation edged up to 2.7%, the monthly increase was a modest 0.1%. This tamer monthly inflation growth suggests that underlying price pressures would, at least, not obstruct Fed’s to another aggressive rate cut at its
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
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
. Continuing a firm momentum for the third straight session, gold prices rose Rs 50 to hit a fresh high of Rs 78,300 per 10 grams, according to the All India Sarafa Association. On Thursday, the precious metal had finished at Rs 78,250 per 10 grams. Silver also jumped Rs 500 to Rs 94,500 per
Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month
EUR/USD reverses intraday losses on softer-than-expected US PCE inflation report for August. Flash French CPI (EU norm) and Spain’s HICP fell below 2% year-on-year in September. Softer-than-expected inflation data from France and Spain has prompted ECB rate cut bets in October. EUR/USD recovers the majority of its intraday losses and returns above 1.1150 in Friday’s New York session. The
Risk-on sentiment continues to dominate global financial markets today, driven by widespread monetary easing and a significant boost from China’s latest stimulus measures. US equities finished strong overnight, with all major indexes posting gains. S&P 500 hit a fresh record for the third consecutive time this week. Meanwhile, Germany’s DAX also surged to an all-time
Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the
Headlines: Markets: JPY leads, GBP lags on the day European equities higher; S&P 500 futures down 0.1% US 10-year yields down 0.4 bps to 3.784% Gold down 0.1% to $2,667.98 WTI Crude up 0.2% to $67.82 Bitcoin up 1.1% to $65,410 Shigeru Ishiba finally won Japan’s top job, as he won the LDP leadership race
Speaking on the occasion, Manish Sarda, Chairman, IFAPA, said, “India is the largest exporter of manganese alloys and the third-largest exporter of ferrochrome. However, the industry’s global standing and foreign exchange generation potential is constrained due to high domestic power prices compared to other exporting geographies, tariffs on key imports, etc. For instance, the current
Costco on Thursday reported ho-hum quarterly results, with a small topline miss being more than offset by strong profitability to deliver an earnings beat. The report didn’t blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion,
Gold price climbed to a fresh all-time peak on Thursday amid dovish Fed expectations. The USD languished near the YTD low and shrugged off Thursday’s upbeat US data. The upbeat market mood caps the XAU/USD ahead of the key US PCE Price Index. Gold price (XAU/USD) extended its record-breaking run for the fifth straight day
Swiss Franc remained relatively stable today following SNB’s decision to cut its policy rate by 25bps, bringing it down to 1.00%. This move defied some market speculations that anticipated a larger 50bps reduction. Despite opting for a smaller cut, SNB issued a decidedly dovish statement, sharply downgrading its inflation forecasts. The central bank signaled a
In this video, I take a look at the three major commodity currency pairs vs the USD: The AUDUSD, USDCAD and NZDUSD. The AUDUSD has been testing swing highs going back to June and July 2023 both yesterday and today. Yesterday the price moved above does highs between 0.68947 and 0.68997, but could not sustain
Headline CPI 2.2% y/y, in line with expectations but down from August expected 2.2%, prior 2.6% Core 2.0% y/y, and ditto, in line with expectations but down from August expected 2.0%, prior 2.4% this is ex food Core-core 1.6% y/y, in line with expectations and an unchanged rate from August expected 1.6%, prior 1.6% this
Gold prices on Thursday jumped by Rs 400 to breach a record Rs 78,000 per 10 gram level in the national capital on sustained buying by jewellers as well as strong trends in global markets. Maintaining its record-breaking run for the second day, gold spurted by Rs 400 to a fresh lifetime high of Rs
AUD/USD recovers sharply from 0.6820 as the Australian Dollar strengthens. Investors await Fed Powell’s speech for fresh interest rate guidance. The core PCE inflation is expected to have accelerated to 2.7% in August. The AUD/USD pair bounces back strongly from Wednesday’s low of 0.6820 to near the round-level resistance of 0.6900 in Thursday’s North American session.
Asian markets are maintaining a risk-on tone today, despite the lackluster US market performance overnight. Sentiment remains buoyed by China’s recent monetary stimulus measures, even as doubts linger about their overall effectiveness due to the absence of significant fiscal support. Nevertheless, stocks in Hong Kong and China continue to trade higher. In Japan, Nikkei is