Gold price jumped by Rs 89 to Rs 56,126 per 10 gram in the national capital on Wednesday amid gains in rates of the precious metal globally, according to Securities. In the previous trade, the yellow metal had settled at Rs 56,037 per 10 gram. Silver also rose Rs 677 to Rs 69,218 per kilogram.
EUR/CHF is providing some excitement in otherwise dull markets today. The cross finally breaks out from the sideway pattern started back in October. Some buying is also seen in Euro against Sterling and Aussie, but it’s staying in very tight range against the greenback. Indeed, Euro and Dollar are currently the strongest ones for the
Noting that fiscal policy risk is adding to inflation pressure, European Central Bank policymaker Pablo Hernandez de Cos said on Wednesday that the ECB will continue to raise interest rates significantly at future meetings at a steady pace. “Keeping interest rates at tight levels will reduce inflation by dampening demand and will also protect against the risk of a
The US CPI will be released at 8:30 AM ET tomorrow with the focus on things like the services CPI ex shelter. That measure of inflation was outlined by SF Fed Pres Mary Daly. See post HERE. I speak to that measure of inflation in the morning forex report, along with technical looks at the
A bankruptcy lawyer told the court today that it has recovered more than $5 billion in cash, “liquid cryptocurrency” and other investment securities. That doesn’t include the roughly $400 billion in crypto held by the Securities Commission of the Bahamas. In addition, the holdings don’t “ascribe any value to holdings of dozens of illiquid cryptocurrency
The World Bank slashed its global growth forecasts from projections it made in mid-2022 on the back of what it sees as broadly worsening economic conditions. The international development institution downgraded almost all of its forecasts for advanced economies in the world, cutting its growth outlook for the global economy to 1.7% for 2023, it
Gold prices scaled an eight-month peak on Wednesday, underpinned by a subdued dollar, although they traded in a tight range as traders positioned themselves for inflation data that could influence the US Federal Reserve’s rate-hike stance. Spot gold was up 0.3% at $1,883.48 per ounce, as of 0727 GMT, its highest level since early-May. US
Australian Dollar regains some ground in Asian session today, following stronger than expected monthly CPI data. In the background, market sentiment also stabilizes after Fed Chair Jerome Powell refrained from commenting on monetary policy or inflation. New Zealand Dollar is currently the second strongest, followed by Swiss Franc. Yen is the worse performer, followed by
USD/CAD struggles to capitalize on the overnight bounce and edges lower on Wednesday. An uptick in crude oil prices underpins the Loonie and caps the upside amid a softer USD. Traders seem reluctant and prefer to wait for the release of the US CPI report on Thursday. The USD/CAD pair attracts some sellers in the
The major US stock indices are picking up some steam to the upside. The major indices are near their highs on the day. A snapshot of the market currently shows: Dow Industrial Average up 128 points or 0.3% at 33645.52 S&P index of 21.96 points or 0.56% 3914 NASDAQ index up 90.78 points or 0.85%
Matsuno specifically refers to this: Matsuno: Welcome various companies’ policies for wage hikes, including Fast Retailing’s Hope for maximum wage increases from companies Also not happy with China stopping issuing visas to Japanese re COVID restriction on Chinese to Japan: Have asked China to lift visa suspension To respond appropriately based on China’s coronavirus situation
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Web3 accelerator Beacon has wrapped up its first cohort with 13 graduating companies and has provided a venue for project founders to demo their blockchain-based startups. Beacon’s first 12-week cohort, dubbed Cohort 0, kicked off in October with 15 companies across various cryptocurrency subsectors, including decentralized finance (DeFi), gaming and infrastructure. Beacon held a demo
Gold price fell Rs 105 to Rs 56,160 per 10 grams in the national capital on Tuesday, according to Securities. The yellow metal had ended at Rs 56,265 per 10 grams in the previous trade. Silver also tumbled Rs 833 to Rs 68,725 per kilogram. “Comex gold prices traded flat in Asian hours on Tuesday
Dollar recovers broadly today as risk sentiment turns negative again. Hawkish comments from Fed officials this week reminded people that even though a smaller hike is possible for February, interest rates are going to stay high for “a long time”. Euro is currently the second strongest for the day, followed by Canadian. On the other
What you need to take care of on Wednesday, January 11: The FX board saw little action on Tuesday amid a scarce macroeconomic calendar and as investors await some central banks’ clarity. US Federal Reserve Chief Jerome Powell and his counterparts from Canada and Japan were on the wires, although as part of a symposium