An analyst at BoA says that market sentiment is overall negative (this is despite the S&P500 heading back into a bull market Thursday!) but that even so many stocks are sitting at high valuation levels: “Stocks do trade at statistically rich levels on most measures. But where one might expect multiples to expand with inflows
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Gold price declined by Rs 420 to Rs 60,380 per 10 gram in the national capital on Thursday amid a fall in prices of the precious metal overseas, according to HDFC Securities. The yellow metal had closed at Rs 60,800 per 10 gram in the previous trade. Silver, however, jumped Rs 500 to Rs 73,300
First-time jobless claims rose sharply last week in a potential sign that the labor market is softening up after more than a year of interest rate hikes. Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000 from the upwardly revised level of the previous
Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes JPY outlook as the Yen is beginning to look at the BoJ meeting. BoJ in focus The Q1 real GDP gain of 2.7% saar, compares with a 25-year average growth rate of 0.7% and the 2% (YoY) deflator compares to a 25-year average of
The global forex markets are in a state of relative tranquillity today, as the dust begins to settle following two central bank surprises. With a light economic calendar on the horizon, trading activity is predicted to stay muted. Australian Dollar currently retains its pole position, closely pursued by its Canadian counterpart. However, with the release
The AUDUSD is trading to a new session low at 0.66529. The pair has moved back into the trading range from after the RBA rate hike yesterday. Earlier today the price broke to a new high going back to mid-May. That move higher yesterday took the pair above the 50% midpoint of the May trading
A little higher, a little lower, and all around we go. That’s the mood in markets this week as we continue the slow countdown to the US CPI and Fed decision next week. The dollar is now slightly lower on the day as major currencies are stretching their previously narrow ranges in European morning trade.
MCX Gold futures traded flat on the MCX on Thursday as traders preferred to hold their bets on the yellow metal ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) meeting outcome, scheduled for next week. The August Gold futures were trading at Rs 59,511 per 10 grams on MCX, up Rs 8.
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Fintech giant Intuit, whose product offerings include TurboTax, Mint, Credit Karma, Mailchimp and QuickBooks, recently expanded its software services platform to include GenOS, an operating system for generative artificial intelligence (AI) technologies. According to Intuit, the new operating system will come with a suite of tools, including a developer studio, UX library, runtime layer and
Yen is encountering renewed selling pressure, particularly against European majors. This weakness is partly attributed to the rising treasury yields that have dampened enthusiasm for the Japanese currency. However, its losses remain contained for the moment. On the other hand, Australian Dollar is seeking to prolong its short-term rally, most notably against New Zealand Dollar.
The USDCHF is having another up-and-down trading day today with the price trading above and below its near converged 100 and 200-hour moving averages (near 0. 9070). The early US sessions saw the price moving low but was then boosted after the Bank of Canada rate hike. Momentum took the price back above the 100
US Treasury Secretary Yellen spoke in a wide-ranging interview with CNBC on Wednesday. You can find the full transcript here. Some of the highlights: Says I see a path to bringing down inflation while maintaining strong labor market Seeing some signs of easing in labor market We’ll continue to see economic progress over the next
“Amid currency fluctuations, traders and investors are advised to remain cautious while trading in crude oil futures as there could be some volatility in the markets. We are recommending ‘buy on dips’ in crude oil for mid- to long-term as demand is expected to increase for upcoming winter and stormy season ahead,” says Anuj Gupta
Share: USD/CHF shows bullish momentum, targeting the 0.9100 mark with 0.27% gains. RSI and three-day RoC indicators suggest bullish dominance despite sideways movement. Overcoming the 0.9120 hurdles could steer the USD/CHF toward the 0.9147 and 0.9200 landmarks. USD/CHF bounces off the 50-day Exponential Moving Average (EMA) and threatens to claim the 0.9100 figure late after
Australian Dollar is staying generally firm in Asian session today, as supported by hawkish comments from RBA Governor Philip Lowe. More tightening could still be underway after yesterday’s surprised rate hike. Aussie basically shrugged off Weaker than expected Q1 GDP growth. Meanwhile, market reactions to the poor set of trade data from China was surprisingly