NEW DELHI: Gold and silver futures traded flat on Thursday as support from easing US Treasury yields was offset by a strong dollar, which emerged as a preferred safe-haven amid growing concerns about extended lockdowns in Europe. US Treasury yields dipped after the Treasury saw average demand for an auction of five-year notes, with the
Markets are generally steady in Asian session today, with mild recovery seen in Nikkei. Though, movements in other markets are rather subdued. Commodity currencies recover in general while Yen, Swiss Franc and Dollar are the weaker ones. However, for the week, Dollar and Yen remain the strongest one while New Zealand and Australian Dollar are
Treasury Secretary Janet Yellen speaks during a virtual roundtable event with participants from local Black Chambers of Commerce on February 5, 2021 in Washington, DC. Drew Angerer | Getty Images Banks have improved their capital positions and should be allowed to continue to buy back their own shares, Treasury Secretary Janet Yellen said Wednesday. Regulators
A combination of diverging forces failed to provide any meaningful impetus to gold. The range-bound price action constitutes the formation of a bearish rectangle pattern. Neutral oscillators warrant caution before positioning for any firm near-term direction. Gold lacked any intraday directional bias and seesawed between tepid gains/minor losses through the first half of the European
Crypto-powered esports streaming app Theta’s mainnet 3.0 launch has been delayed until June. In an announcement from Theta Labs, the company stated that its development team is still working “to incorporate some building blocks” for a non-fungible token, or NFT, marketplace for the Theta Mainnet 3.0. They are also working to ensure that the network
Gold consolidates recent losses inside a short-term trading range above $1,725. US dollar strength fails to stop gold buyers as downbeat bond yields drive safe-haven demand to the yellow metal. China’s struggle with the West joins fears of slower economic recovery and tapering to weigh on the mood. US GDP, central bankers’ comments will decorate
Dow turns negative at the close It was an ugly day for the NASDAQ index. It fell 2% on the day on a decline of 265.8 points. The S&P index and Dow were down more modestly but both closed at the session lows. The declines today cannot be blamed on yields moving higher. The treasury curve is lower across the board with
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A 3 percent drop in gold prices beginning March has spurred demand for the yellow metal in the physical and paper form. Wealth managers said that clients looking at gold as a long-term investment with regular interest earning are buying sovereign gold bonds (SGBs) from the secondary market at the current rate, which is below
Asian markets closed in deep red earlier today while European stocks dived in initial trading. Yet, the markets were saved by much stronger than expected PMI data out of Eurozone and UK. Overall sentiments recovered notably, with US futures pointing to a rebound at open. In the currency markets, Canadian Dollar, Dollar and Aussie are
A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume. Mortgage applications to purchase a home rose 3% last week from the previous week, according to the Mortgage
Jason Kempin | Getty Images Entertainment | Getty Images The furniture retailer RH, formerly Restoration Hardware, on Wednesday reported fourth-quarter earnings and sales that topped Wall Street estimates, as it continued to see robust demand for its high-end furniture and home wares. CEO Gary Friedman said the momentum is expected to continue into this year,
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AUD/USD staged a goodish bounce amid a modest USD pullback from multi-month tops. Recovering US equity futures prompted some profit-taking around the safe-haven USD. The attempted recovery runs the risk of fizzling out rather quickly and remain limited. The AUD/USD pair has recovered around 35-40 pips from daily swing lows and was last seen trading
The stellar German PMI report won’t do much to change market sentiment EUR/USD got a light jump from the strong report earlier, moving up from 1.1820 to 1.1833 but that is quickly fading as the report will not do much to change things on the day.Invest in yourself. See our forex education hub. Sure, Germany
Latest data released by Markit/CIPS – 24 march 2021 Prior 49.5 Manufacturing PMI 57.9 vs 55.0 expected Prior 55.1 Composite PMI 56.6 vs 51.4 expected Prior 49.6 That is a solid beat and adds to the optimism surrounding the rebound in the UK economy once restrictions are eased later on in the year. Business activity