Gold traded in a tight range on Wednesday ahead of the release of the Federal Reserve’s FOMC minutes later today. Yellow metal’s recent uptick, where it has risen for four successive sessions, has been on a softer dollar index (DXY) which has fallen 0.70% over the past five sessions. The bias in gold was positive
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New Zealand and Australia Dollar rise appreciably in Asian session today, buoyed by a significant rebound in stock markets of China and Hong Kong. This positive momentum is largely attributed to the ripple effects of China’s larger-than-expected interest rate cut earlier in the week. Hang Seng Index, in particular, showcased a robust increase of around
The Canadian dollar is softer today after a CPI surprise. The monthly inflation report showed prices up 2.9% y/y compared to 3.3% expected. It’s a welcome relief for Canadians but will it change the path for the Bank of Canada? Markets are currently pricing in a 24% chance of a March cut compared to 19%
What has taken most market participants by surprise is the resilience of the US economy and labor market despite real rates being as high as they are at present. Until earlier this week it seemed like rate cuts were on the horizon, but the latest January CPI print indicates that the progress on inflation could
Canadian Dollar weakens broadly in early US session, sparked by data indicating a stronger-than-anticipated progress in disinflation. Headline CPI fell below the 3% mark, accompanied by significant easing in core inflation measures. This development potentially opens the door for BoC to consider an interest rate cut sooner than anticipated, with the second quarter now appearing
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
After hitting a nearly one-week high on Monday, gold prices marginally declined on Tuesday amid a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last US Federal Reserve policy meeting for more clues on its interest rate cut timing. The April gold futures were trading at Rs 61,954 per 10
The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China’s surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and,
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. Brent crude futures were down 58 cents, or 0.69%, at $82.89 a barrel. U.S.
Activity in the global financial markets are rather muted today, with major European stock indexes reading water within a narrow range. US futures are also showing little change, reflecting the quietness of US market holiday. In the currency sphere, movements are similarly subdued, with Euro and Swiss Franc ranking as the day’s weaker currencies followed
PMI Monday marks a bank holiday in the U.S. in observance of Presidents’ Day. Tuesday will bring attention to Australia with the release of the Monetary Policy Meeting Minutes. However, the most significant event of the day will be the inflation data for Canada. Wednesday the focus will shift to Australia’s Wage Price Index quarter-on-quarter
A softer dollar index (DXY) lifted the appeal of gold which was trading with a positive bias in the early trade on Monday. Bullion fell to a two-month low last week after higher-than-expected consumer price data dented hopes of an early rate cut by the US Federal Reserve. Bullion traded mix in the opening trade
New Zealand Dollar bounces broadly in quiet Asian session, partly underpinned by notable improvement economic data which showed that the services sector has swung back into expansion at the start of 2024. Additionally, economists are increasingly expecting that more work is needed by RBNZ to cool the economic to bring down inflation. BNZ Bank said
Mon: Swedish CPIF (Jan), Canadian Producer Prices (Jan), Holiday: US (President’s Day) , EU Red Sea Policing Strategy Tue: PBoC LPR, RBA Minutes (Feb), EZ Current Account (Dec), Canadian CPI (Jan) Wed: FOMC Minutes (Jan), UK PSNB (Jan), South African CPI (Jan), EZ Flash Consumer Confidence (Feb), New Zealand Trade (Jan), Australian Flash PMIs (Feb)
Gold prices have fallen by 3 per cent to Rs 61,400 per 10 gm within a fortnight from Rs 63,400 per 10 gm on February 1. This has turned the consumer sentiment positive and jewellers are witnessing good footfalls with demand rising by 20 – 25 per cent over last month. The biggest fall has
AI image Here’s the latest from the New York Times: Israel carried out covert attacks on two major gas pipelines inside Iran this week, disrupting the flow of heat and cooking gas to provinces with millions of people, according to two Western officials and a military strategist affiliated with Iran’s Revolutionary Guards Corps. Now I
Gold ticked up on Friday but was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal Reserve. Spot gold was up 0.2% to $2,007.69 per ounce at 11:00 a.m. ET (1600 GMT), but has lost 1.8% for the week so far. U.S. gold