Amid easing Middle East tensions, safe haven buying in bullion seems to be diminishing as gold prices on MCX for June futures contracts fell by Rs 102 or 0.14% on Friday to trade at Rs 70,634 per 10 grams while MCX July silver contracts were down by Rs 44 or 0.05% to Rs 81,319 per
Dollar falls steeply in early US session following a disappointing non-farm payroll report that fell short of market expectations across key metrics including job growth, unemployment rate, and wage growth. DOW futures surge over 500 pts at the same time while 10-year yield dives through 4.5% mark. Despite the single month’s data being insufficient for
US ISM Services PMI dropped into the contraction territory below 50 in April. US Dollar Index stays in negative territory below 105.00. Business activity in the US service sector contracted in April, with the ISM Services PMI edging lower to 49.4 from 51.4. in March. This reading came in below the market expectation of 52.0. Other details
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from
Apple did it again: Despite all the worries about China, the consumer tech giant hit back with beats on the top and bottom lines, sending shares up 6% in after-hours trading. This is why we own it. This is why we don’t trade it. Apple’s fiscal first quarter revenue hit $90.75 billion, down 4% from
S&P index trades between 50 and 100 day MAs The S&P index is trading higher and near session highs. The current price is up 36 points at 5054.25. The high for the day reached 5058.01. That puts the price near the middle between key day MAs. On the downside, is the 100-day MA at 4979.26.
After the second round of yen-tervention this week, the pair caught a modest bounce from 153.00 to 156.00 yesterday. All that before a turn right before US trading to just under 155.00 and that kept running all the way to where we are now, near the 153.00 mark. The low earlier today hit 152.75, though
Gold prices were set for a second consecutive weekly fall, even as bullion traded almost flat on Friday as investors refrained from taking big positions ahead of U.S. non-farm payrolls data that could offer more cues on the Federal Reserve’s policy path. FUNDAMENTALS * Spot gold was nearly unchanged at $2,302.51 per ounce, as of
Markets sentiment in the US stabilized overnight, responding positively to Fed Chair Jerome Powell’s less hawkish-than-anticipated remarks in the post-FOMC press conference. DOW closed slightly up, while S&P 500 and NASDAQ saw mild losses only. Treasury yields and Dollar both fell in response to these developments. Key takeaways from Powell’s address include a clear stance
Indian Rupee drifts higher on Friday amid the softer Greenback. The positive outlook in the Indian economy and capital inflows support the INR. Investors await the US ISM Services PMI and the employment data on Friday. Indian Rupee (INR) gains momentum on Friday as the cautious comments by the Federal Reserve (Fed) Chair Jerome Powell
A jobseeker takes a flyer at a job fair at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024. Allison Joyce | Bloomberg | Getty Images Hiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. Nonfarm payrolls
Coterra Energy topped Wall Street expectations Thursday with first-quarter results that further proved the Club holding’s nimble production strategy is the right one for shareholders. Revenue in the three months ended March 31 fell 19% year over year to $1.43 billion, beating the consensus forecast of $1.39 billion, according to analyst estimates compiled by LSEG.
The major European stock indices are ending the day mixed. The German DAX and France CAC both moved lower. A snapshot of the closing levels shows: German DAX, -0.15% France CAC, -0.88% UK FTSE 100 under +0.63% Spain’s Ibex, +0.19% Italy’s FTSE MIB, unchanged Eurostat 50 index -0.51% Looking at European benchmark 10 year yields:
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Gold prices climbed Rs 500 to Rs 72,350 per 10 grams in the national capital on Thursday amid a rally in precious metal rates in the global market, according to HDFC Securities. In the previous session, it had closed at Rs 71,850 per 10 grams. Silver prices also jumped Rs 400 to Rs 83,500 per
Swiss Franc saw a significant rebound in European session, driven by stronger-than-expected inflation figures for April. Despite this upside surprise, inflation remained within SNB’s target range of 0-2% for the eleventh consecutive month. Currently, economists are still largely anticipating a further 25 basis point rate cut by SNB in June, which would adjust the policy
Oil took it on the chin with a 5.5% in just three trading days. WTI Oil’s recovery to $80 gets cut short by positive news from Hamas. The US Dollar Index holds ground above 105.50 and trades flat ahead of weekly Jobless Claims. Oil prices are giving up their gains for this Thursday and are at risk
Private payrolls increased at a faster-than-expected pace in April, indicating there are still plenty of tail winds for the U.S. labor market, according to ADP. A separate report indicated that job openings continue on the decline, falling to their lowest level since early 2021. The payrolls processing firm reported Wednesday that companies added 192,000 workers