The US Federal Reserve’s announcement that it is raising interest rates by 0.75 percentage points and will potentially follow up with further moves of a similar size led to some nervousness in the gold and silver markets. The metals remain tossed and torn between the inflation issue and the related tightening of monetary policy by
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The U.S. has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may have become an inevitable part of the financial cycle that fluctuates between periods of expansion and contraction. “History teaches us that recessions are inevitable,” said David Wessel, a senior fellow in economic studies
The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD. St. Louis Fed President Bullard: Achieving a soft landing is feasible. AUD/USD plummets from weekly highs reached on Thursday around 0.7069, down below the 0.7000 mark, after Wednesday’s
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The NZDUSD – like other pairs vs the USD yesterday – saw the pair shoot higher. The move extended above the 100 and 200 hour MAs, and for this pair also extended briefly above the 50% retracement at 0.63857. However, going into the close yesterday, the price rotated lower to the 200 hour MA closing
The USD moved lower yesterday helped by the Swiss National Bank surprise tightening, and a string of weaker data. Today the story was different. The Bank of Japan kept rates unchanged and said that they would continue the put a ceiling on the 10 year yield by being a buyer. The industrial production was weaker
New Delhi: Gold prices in the national capital on Friday rallied by Rs 416 to Rs 50,802 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,386 per 10 grams. Silver also surged by Rs 1,014 to Rs 61,343 per kg from Rs 60,329 per kg in
Swiss Franc remains the strongest one for the week and stays firm into US session. Dollar is also regaining some ground, as the second best. On the other than, commodity currencies are the worst performing one, as led by Canadian. In other markets, European indexes are mildly in black while US futures are nearly flat.
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was
The gold spot is falling due to broad US dollar strength and steady US real yields. US Industrial Production expànded at a lower rate than in April, showing that the US economy is slowing. Gold Price Forecast (XAUUSD): To consolidate amid the lack of a catalyst. Gold spot (XAUUSD) drops courtesy of a buoyant greenback,
The bull market is gone and the reality of a long crypto winter is surely giving traders a bad case of the shivers. Bitcoin’s (BTC) price has fallen to lows not even the bears expected, and some investors are likely scratching their heads and wondering how BTC will come back from this epic decline. Prices
The GBPUSD rallied strongly yesterday. The BOE did raise rates by 25 basis points as expected. Weaker US data also contributed to a sharp move to the upside from a fundamental perspective. Technically yesterday, the price stepped above its 100 hour moving average (blue line, then above a ceiling level from Tuesday and Wednesdays trade
Prior was +1.1% (revised to +1.4%) Capacity utilization 79.0% vs +79.2% exp Manufacturing output -0.1% vs +0.3% exp Prior manufacturing output +0.8% The headline is a touch soft but it’s balanced out by the positive revision. More-concerning are the forward-looking manufacturing surveys showing a drop in new orders. It will take some time to chew
New Delhi: Amid the rising inflation, the best hedge against inflation is running out of favour. Gold is not the first choice for investors to make or save their fortunes in these tough times. The rising bond yields and stronger dollars are denting the yellow bullion’s appeal as investors will have to pay more for
Yen trades broadly lower today after BoJ left monetary policy unchanged, including keeping the 10-year JGB yield cap. Selling is not too fierce for now on mixed sentiment in the Asian markets. But if global stocks stage a pre-weekend rebound, the decline in Yen could quickly intensify. Meanwhile, Swiss Franc is still the strongest one
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 4, 2022 in Washington, DC. Win McNamee | Getty Images The Federal Reserve looks set to raise its benchmark rate again today, and may even hand out the first three-quarter-point hike in 28 years. The central