Gold prices ticked lower on Thursday after minutes from the Federal Reserve’s latest policy meeting indicated that the U.S. central bank would likely keep interest rates higher for longer to check high inflation. FUNDAMENTALS * Spot gold was down 0.1% at $1,823.69 per ounce, as of 0039 GMT. U.S. gold futures slipped 0.5% to $1,833.10.
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Reaction to FOMC minutes overnight was relatively muted with major US indexes closing mixed, while 10-year yield dipped slightly. Dollar, however, is making some progress by breaking to the upside against Euro. But momentum of the greenback is so far rather weak. At the same time, Yen is trying to recover against Europeans and commodity
In this article NVDA Follow your favorite stocksCREATE FREE ACCOUNT Nvidia Corp CEO Jensen Huang holds one of the company’s new RTX 4090 chips for computer gaming in this undated handout photo provided September 20, 2022. Nvidia Corp | via Reuters Nvidia stock rose more than 8% in extended trading on Wednesday after the company
Share: USD/INR is displaying wild moves as investors are discounting the impact of the release of the overnight FOMC minutes. Fed policymakers are favoring the continuation of policy tightening to avoid fears of a recovery in US inflation. The asset is testing the breakout of the Descending Triangle chart pattern around 82.70. The USD/INR pair
According to a press release on Feb. 22, Tencent Cloud, the cloud computing branch of Chinese internet giant Tencent, announced that it had concluded multiple agreements with blockchain firms to support the active development of the Web 3.0 ecosystem. Firstly, Tencent Cloud signed a memorandum of cooperation with decentralized blockchain infrastructure provider Ankr to jointly
The AUDUSD has reached a new session low of 0.68104. That barely took out the early European session low of 0.68106. The low from last week reached 0.6811. The hold up at the low is the 200 day moving average which currently comes in at 0.68038. Dip buyers are leaning against the key moving average
Reuters is reporting that Russia is intending to cut crude exports from its western ports by 1/4 in March/April. Recall Russia voluntarily cut oil production by 500K BPD in March in response to sanctions. Yesterday crude oil settled at $76.16. The current price is trading at $75.56. That’s down $0.60 on the day or -0.74%.
Gold price rose Rs 90 to Rs 56,350 per 10 gram in the national capital on Wednesday amid gains in prices of the precious metal overseas, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 56,260 per 10 gram. Silver also jumped Rs 113 to Rs 66,083 per kg.
Risk sentiment appears to have stabilized as markets enter into US session. There have been increasing speculation that Fed would revert to a 50bps rate hike in March. Traders might try to scrutinize FOMC minutes to get more hints on the chance. But overall, that’s not the majority’s opinion for now. In the currency markets,
An engine undergoes assembly at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images Carmaker Stellantis on Wednesday announced record full-year results, reporting a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual jump in global battery and electric vehicle sales.
Share: Strategists at Commerzbank have adjusted their Gold price forecast. They now expect XAU/USD to slump toward $1,800 in the first half of the year before drifting back higher toward $1,950 by year-end. Gold likely to remain under pressure in the short term “In the short term, the Gold price is likely to remain under pressure
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With US growth seemingly not abating, inflation still a concern, and the US dollar coming off a more than 50% correction adding to potential inflationary forces, does the US dollar have to continue the move back higher to get things back in balance? It makes sense and indeed the dollar has been stepping higher. Looking
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Oil prices were steady on Wednesday as investors await the U.S. Federal Reserve’s comments after recent data pointed to the possibility of more interest rates hikes, which may lower economic growth and limit global fuel demand. Brent crude futures for April delivery were up 2 cents to $83.07 a barrel by 0242 GMT after falling
Markets are generally staying in consolidation mode in Asian session today. The retreat in Dollar this week is so far shallow, suggesting more upside is in favor. But the next move will still be dependent on overall risk sentiment. As for today, focuses will be on PMIs from Eurozone and UK, as well as Germany