Gold prices held steady on Tuesday as market participants awaited fresh cues from top central banks on their monetary policy plans, especially from the U.S. Federal Reserve. FUNDAMENTALSSpot gold was unchanged at $1,982.58 per ounce by 0012 GMT. U.S. gold futures fell 0.1% to $1,990.80. The Federal Reserve, which meets on May 2-3, is widely
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The inventory data from the private survey is out now, official data follows Wed. morning (US time). Via Twitter: Expectations I had seen centred on: Headline crude -1.1 mn barrels Distillates -1.1 mn bbls Gasoline -1.2 mn — This data point is from a privately-conducted survey by the American Petroleum Institute (API): It’s a survey
Forex traders are probably starting to put up guards ahead of the key events in FOMC rate tomorrow, ECB on Thursday, and NFP on Friday. Australian Dollar remains the top performer today, bolstered by RBA’s unexpected rate hike. However, there is no follow through buying after the initial spike. Meanwhile, Yen is attempting a recovery,
Gold price declined Rs 225 to Rs 60,075 per 10 grams in the national capital on Tuesday amid a fall in precious metal prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,300 per 10 grams. Silver also went lower by Rs 380 to Rs 75,600 per
Prior 47.9 That’s a decent revision higher, which sees UK manufacturing activity fall marginally in April as compared to March. That said, it is still in contraction territory with both output and new orders also falling. S&P Global notes that: “The UK manufacturing sector remained in the doldrums at the start of the second quarter.
Australian Dollar surges after RBA surprised the markets by resuming rate hike today. In addition, tightening bias is maintained even though the tone is softened. New Zealand and Canadian Dollars trail closely, boosted by a slightly positive risk sentiment. On the other hand, Japanese Yen continues to be the runaway loser in the market. Dollar
Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from OPEC+ supply cuts taking effect this month. The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar
US Treasury Secretary Yellen says debt limit measures may be exhausted by the first of June. “our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before
Dollar rises against Yen after release of slightly better than expected ISM manufacturing data. But there is no clear pick up in buying against other major currencies. Weakness in Yen remains in the main theme. Overall trading is relatively subdued today, with most markets closed on holiday. But volatility will certain come back with lots
Gold prices eased on Monday as the U.S. dollar held firm, with cautious traders awaiting the Federal Reserve‘s interest rate hike decision later this week. Spot gold fell 0.5% to $1,980.78 per ounce by 0759 GMT. U.S. gold futures shed 0.5% to $1,989.20. The dollar index rose 0.2%, making greenback-priced bullion more expensive for overseas
The week will start slow with a holiday in Europe to observe Labor Day on Monday, but we’ll get some data from the U.S., like the ISM Manufacturing PMI. On Tuesday, all eyes will be on the RBA meeting and cash rate in Australia. Additionally, the U.S. JOLTS Job Openings data will be released. Moving
Silver returned to the limelight outperforming its sister metal gold in the past few weeks. Prices surged to a near one-year high on increased demand optimism and a weak US currency. In the overseas market, prices gained more than 25 per cent in the last one-month period while the domestic futures rallied more than 20
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COMEX Gold prices started the week on a positive note, amid concerns of an nearing “X date” for the US debt ceiling coupled with renewed fears on the banking sector. The estimates for the US hitting the debt ceiling have been pushed to July, amid lower tax collections this season. US 5-year CDS rose to
MUFG Research maintains a long EUR/USD and a short USD/JPY exposure in its ToTW portfolio. The short USD/JPY trade suffered today longs after the Bank of Japan left policy unchanged. MUFG is long EUR/USD from 1.0950, targeting a move towards 1.1350, with a stop at 1.0750. It last traded at 1.1016. MUFG is also short
Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand. Brent crude futures for June were trading at $78.53 a barrel, up 16 cents, or
Markets: Gold up $1 to $1989 WTI crude oil up $1.95 to $76.71 US 10-year yields down 9 bps to 3.43% S&P 500 up 0.9% GBP leads, JPY lags The big story of the day was the Bank of Japan leaving policy unchanged and the yen taking a beating. It tumbled right across the board
The markets experienced surprisingly high volatility in the last week of April, with central bank expectations as the primary driver. Japanese Yen emerged as the worst performer following BoJ’s dovish stance, leading bond traders to abandon hopes for any changes to yield curve control. Australian Dollar was the second-worst performer, as economists now lean towards