NEW DELHI: Gold prices edged higher on Thursday on the back of mild weakness in the US dollar. A widely expected interest rate hike by the US central bank sent the currency tumbling. The US Federal Reserve on Wednesday approved a 75-basis-point interest rate hike, its largest in more than a quarter of a century,
US stocks recovered overnight after Fed delivered the 75bps rate hike as market priced in, while Dollar and yields retreated. Asian markets are mixed with some weakness seen in Hong Kong HSI. For the week, the greenback remains the strongest one, except versus Yen which it’s paring gains against. Sterling is the worst performing as
The Federal Reserve raised its target federal funds rate by 0.75 percentage points, the largest increase in nearly three decades, at the end of its two-day meeting Wednesday in an effort to quell runaway inflation. “The motivation for all of this is that prices are going up,” said Chester Spatt, a professor of finance at Carnegie Mellon
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A swift move above the 20- and 50-EMAs has strengthened the pound bulls. The cable has attacked the formed inventory distribution, which supports the bullish reversal. A (60.00-80.00) bullish range shift by the RSI (14) adds to the upside filters. The GBP/USD pair displayed a firmer rebound after hitting a low of 1.1933 on Wednesday.
USDCHF tests a support target The USDCHF did spike higher post FOMC decision, but hit the May extremes that started at 1.0048 and moved to 1.00637. Sellers leaned. The high reached 1.00493. The subsequent move to the downside has now reached to the lows from earlier today at 0.9961. That low is also near a
> Fitch expect economic conditions in New Zealand to be broadly stable over the next 2 years Eamonn Sheridan Wednesday, 15/06/2022 | 22:13 GMT-0 15/06/2022 | 22:13 GMT-0 Fitch agency on NZ says New Zealand large banks are well-placed for rising interest rates ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most
NEW DELHI: Gold prices gained mildly on Wednesday, on the back of weaker treasury yields, ahead of the US Federal Reserve’s meeting. However, the firm US dollar capped gains. Investors have dramatically raised their bets that the Fed will hike interest rates by 75 basis points (bps) rather than 50 bps, a swing in expectations
The forex markets are generally staying inside yesterday’s range so far today. Stocks in Europe and US futures are recovering while treasury yields retreat. Traders are clearly turning cautious ahead of FOMC rate decision. The question is whether Fed would deliver 75bps hike as markets priced in, or stick to its 50bps per meeting plan.
Federal Reserve Chair Jerome Powell. Xinhua News Agency | Xinhua News Agency | Getty Images Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point
Gold gained traction on Wednesday and snapped a two-day losing streak to a near one-month low. Retreating US bond yields prompted some USD profit-taking and extended some support to the metal. Hawkish Fed expectations might cap gains for the XAUUSD ahead of the key central bank event risk. Gold attracted some buying on Wednesday and
The 200-week moving average has been pivotal in the Nasdaq for decades. The share since the financial crisis shows it being tested repeatedly and never breaking aside from a two-week period at the height of the pandemic fears. This level is a good spot for a bounce but if it breaks, it could mean much
It’s very much the same old stuff from Kishida. The BOJ has bigger concerns at the moment as 10-year JGB yields are straying offside from their implicit cap of 0.25%: The yen may be getting a bit of a reprieve on the day as the dollar shakes off some of its gains and Treasury yields
Gold prices in the national capital rose by Rs 3 to Rs 50,304 per 10 grams in line with a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,301 per 10 grams. Silver also gained Rs 304 to Rs 60,016 per kg from
The forex markets are steady in tight range in Asia, while Dollar remains the strongest one for the week. Main focus today is on whether Fed would deliver a 75bps hike as markets fully priced in, or stick to its “original plan” of 50bps hike per meeting. Yen is staying as the second strongest on
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