Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered wild fluctuations in prices. Brent crude futures were up 18 cents, or 0.2%, at $77.33 a barrel at 0126 GMT on Friday, the last trading
News
Happy New Year It was a lively year in the FX market with the yen going on a particularly wild ride but ultimately it was the Swiss franc that came out on top as USD/CHF fell nearly 9%. At the other end of the spectrum was the Japanese yen as it was the G10 laggard
Commodity prices witnessed a mixed sentiment last year. Despite gold rallying to record highs, demand concerns due to the softening of the global economy adversely hit the prices of energy and base metals. Gold was the best-performing asset in the commodities gaining more than 15 percent in 2023. It hit an all-time high of $2135
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
Gold prices were set on Friday for their best year in three on strong bets of U.S. interest rate cuts early next year and as the war in Ukraine and tensions in the Middle East lifted safe-haven demand. FUNDAMENTALS * Spot gold was up 0.2% at $2,068.95 per ounce, as of 0233 GMT. It has
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
Gold prices declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand. The February gold futures were trading at Rs
Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in
WI level at the time of the auction 3.835% High-yield 3.859% Tail: +2.4 basis points Bid to cover 2.5X. The last option came in at 2.44X Indirect’s 63.7 which was the weakest since March Directs 19.37% Dealers 16.19% Not a particularly strong auction. Rick Santelli on CNBC gave him a grade of D+. US stocks
Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. This is at least the second time the precious metal prices have touched a record high of Rs 64,300 per 10 grams on December 4. In the previous trade, the
Japanese Yen and Swiss Franc are standing out with significant rallies in otherwise relatively subdued markets today. Yen resumed its near-term rise against the Dollar, reaching its highest level in five months. Simultaneously, Swiss Franc has achieved its highest level in over a decade, excluding the spike seen in 2015. While Dollar remains the weakest
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
Gold prices surged on Thursday to the highest in more than three weeks as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March. February gold futures were trading at Rs 63,795 per 10 grams on the MCX at 10.20
Japanese Yen soars broadly in Asian session today, likely in delayed reactions to comment made by BoJ Governor Kazuo Ueda. Speaking to NHK, Governor Ueda indicated that the chance of moving the short-term interest rate out of negative territory in 2024 was “not zero.” This remark marks a notable shift in tone from the central
Gold is on track for an all-time closing high today. It’s up $11 to $2077. That would surpass the all-time closing high of $2071 set on December 1. Also notable is that on December 4, gold briefly went super-nova in a sharp rally up to $2135 at the open in Asia before being hit by
Gold touched its highest in more than three weeks on Wednesday, as traders bought zero-yield bullion in anticipation of U.S. interest rate cuts next year, while a dip in the dollar and bond yields also supported prices. Spot gold was up 0.4% at $2,074.49 per ounce by 10:24 a.m. ET (1524 GMT), hitting its highest
In today’s subdued trading environment, Sterling Euro have emerged as the strongest currencies, outperforming Australian Dollar and New Zealand Dollar. The ascendancy of these European currencies does not appear to be driven by any specific fundamental factors. Instead, it seems to be part of a rotational trend where different currencies take turns rallying against Dollar
When Haruhiko Kuroda resigned from his post as Bank of Japan governor in April this year, he laid the groundwork for his successor, Kazuo Ueda, to try and make a change on the policy front. His departing words were that “Japan has made steady progress towards achieving its 2% inflation target”. While those words are