The gains picked up during the handover from Asia to Europe, following comments from China’s Politburo here. That amplified Beijing’s commitment from all of the measures announced this week and also drove Chinese equities to surging gains on the day. S&P 500 futures were already up 0.3% at the time but extended that to 0.8%
The initial reaction to the gold import duty cut in the July Budget was short-lived as prices of the yellow metal surged Rs 76,000/10 gms to new record highs in just 2 months. Amid positive global cues and the festive season around the corner, analysts now see gold prices surging further to as high as
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | Reuters The Swiss National Bank on Thursday took a third step to loosen monetary policy this year, bringing its key interest rate down by 25 basis points to 1.0%. The trim,
The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Shares of H&M tumbled 7% on Thursday after the world’s second-largest listed fashion retailer posted a miss on operating profit and abandoned its earnings margin target.
The Australian Dollar gains ground as the RBA and Fed adopt different policy outlooks. The Reserve Bank of Australia is highly expected to keep interest rates unchanged in the near future. The US Federal Reserve may deliver more rate cuts by the end of this year. The Australian Dollar (AUD) retraces its recent losses against
Euro is gaining broadly today, even though there is no major fundamental news driving its ascent. Market expectations are mounting that ECB may cut interest rates as early as October, with HSBC projecting 25bps cuts at every meeting from October through April 2025. This would bring the deposit rate to 2.25%, which is considered close
The NZDUSD has been tracking the 100-hour MA higher There have been some brief moves below the 100 hour MA over the last few weeks, with a few times when the price dipped below the MA but quickly rebounded higher. Today, there has been another dip below the 100 hour MA. Seller are “making 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
Gold prices were steady near record highs on Wednesday, as a weaker dollar and an escalated conflict in the Middle East lifted bullion’s safe-haven appeal, while investors braced themselves for new signals on the U.S. interest rate trajectory. FUNDAMENTALS * Spot gold held its ground at $2,658.07 per ounce, as of 0016 GMT. Bullion hit
AUD/USD struggles to extend its upside above 0.6900, while its upside remains firm. The Australian Dollar remains firm as the RBA is expected to keep interest rates steady at their current levels for the entire year. Firm Fed large rate cut bets weigh on the US Dollar. The AUD/USD pair edges lower after posting a
Dollar continued its broad-based weakness in Asian session, with selling pressure shifting towards European majors. EUR/USD is approaching its August high as the near-term rebound gathers momentum. This decline in the Dollar is partly attributed to weaker-than-expected US consumer confidence data released overnight, which has intensified market expectations of consecutive 50bps rate cuts by Fed
Light Crude Oil Futures Technical Analysis – Key Junction at $70.3 Hello, this is Itai Levitan at ForexLive.com, bringing you a technical analysis on Light Crude Oil Futures (Ticker: CL). As expected and communicated in my last oil technical analysis, the current touchpoint at the top pane of this channel is playing out as anticipated.
Headlines: Markets: EUR leads, JPY lags on the day European equities mixed; S&P 500 futures flat US 10-year yields up 2.4 bps to 3.760% Gold flat at $2,655.73 WTI crude down 0.7% to $71.05 Bitcoin down 1.0% to $63,603 It was a quieter session but there were some decent markets moves to be had. The
Following a high of Rs 75,049 on Tuesday, Gold October futures contracts at MCX soared to a new all-time high of Rs 76,000 per 10 grams, reflecting an increase of 0.24% or Rs 177. Gold prices have been surging for a week now post the US Fed cut rates by 50 bps, going up by
Australia’s monthly Consumer Price Index (CPI) declined by 2.7% in the year to August, compared to a 3.5% increase seen in July, according to the data published by the Australian Bureau of Statistics (ABS) on Wednesday. The market forecast was for 2.8% growth in the reported period. Market reaction to the Australia’s monthly CPI inflation At the time of writing,
The forex market continues to display a mild risk-on mood, with commodity-linked currencies Australian, New Zealand, and Canadian Dollars gaining ground. In contrast, safe-haven currencies Japanese Yen, Swiss Franc, and Dollar are under pressure. Australian Dollar jumps earlier today following RBA’s decision to hold rates steady, combined with China’s broad stimulus package aimed at boosting
The USD is continuing its run to the downside with the greenback trading at new lows for the day vs ALL the major currencies. EURUSD: The EURUSD is trading to a new intraday high of 1.11661. That is just short of the high from yesterday at 1.11665. Move above and the high from Friday at
Via a note from JP Morgan on the China stimulus proposals that hit the headlines on Tuesday: The US has been the anchor for global growth, but a China reboot will also benefit the globe It may create another inflationary pressure, so keep an eye on commodities and bond yields over the coming weeks —