New Delhi: Gold in the national capital on Thursday rallied by Rs 559 to Rs 51,081 per 10 grams reflecting gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 50,522 per 10 grams. Silver also jumped Rs 1,179 to Rs 63,427 per kg from
Sterling drops sharply today even after BoE raised interest rate as expected. The trigger was the warning that of recession as high inflation hurts real incomes of household and profits of businesses. Aussie and Kiwi are also trading lower as yesterday’s risk-on rally fades. Dollar, on the other hand, is regaining some of the post
In this article NKLA Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev
Here is what you need to know on Thursday, May 5: The Fed basically baulked at killing the equity market on Wednesday as it trod a by now well-worn conservative path in hiking rates: 50 bps as expected. By taking a 75 bps hike off the table, the bond market immediately repriced the front end
NASDAQ index tests its 100 hour moving average The NASDAQ index is up 413 points or 3.27% at 12978. Looking at the hourly chart, that takes price above its 100 hour moving average at 12946 for the 1st time since April 5. Stay above that moving average is the best case scenario for the buyers.
The markets – at least for today – breathed a sigh of relief as Fed Chair Powell took 75 basis points off the table, but did say that 50 bp hikes are in play for the next two meetings and that inflation is still much too high. To give a point of reference, before the
NEW DELHI: Gold prices dropped on Wednesday as higher US Treasury yields weighed on sentiments for the yellow metal and investors awaited the Federal Reserve monetary policy outcome. While gold is seen as an inflation hedge, higher short-term US interest rates and bond yields tend to increase the opportunity cost of holding non-yield bullion. Gold
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
In this article ETSY AMZN An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector
In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.5672 vs. the last close of 0.6090. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning,
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Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4. Although markets expect a 50 basis point rate hike and an announcement by the Fed to start shrinking its balance sheet from June, it is difficult to predict how the markets will react to this trigger.
EURUSD trades to new session high and away from its 100H MA The EURUSD traded in a narrow 29 pip range as North American traders entered for the day. The price action on the hourly chart above saw the pair trading above and below its flattening 100 hour moving average. That range has now been
We saw a similar dip in the US dollar yesterday around this time. That adds to our suspicion that this drop is flow-related either around spreads, position squaring or something else. The Treasury’s refunding announcement included smaller auction coupons but BMO contends that’s not a surprise: “The refunding announcement confirmed the widely expected coupon cuts
New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more