Gold prices steadied on Wednesday, as the dollar levelled with bets for an interest rate cut by the Federal Reserve in the first half of 2024, ahead of key U.S. jobs data this week that could offer more clarity on the central bank’s rate path. FUNDAMENTALS * Spot gold edged up 0.1% at $2,020.39 per
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Euro and Sterling are falling broadly in European session today, a trend largely driven by notable decrease in benchmark yields in Germany and the UK. German 10-year bund yield has reached its lowest point since June. Simultaneously, UK 10-year gilt yield has dipped below 4% mark for the first time since May These movements in
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
Glitter in gold is rising by the day riding on the greenback’s weakness and falling bond yields as Street gets convinced of the likelihood of interest rate cut by the Fed sooner than later. MCX February gold futures were trading at Rs 62,245 at the opening time, up Rs 60 or 0.10% from Tuesday’s closing
Global market sentiment shows signs of stabilization in Asia today, marked by gains in major indices like Nikkei Hong Kong’s HSI. This shift indicates that the markets have largely absorbed the impact of Moody’s downgrade of China’s rating outlook, redirecting attention towards economic data and central bank policies. The spotlight is now on BoC’s interest
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
MOSCOW: The OPEC+ group of oil producing countries stands ready to strengthen oil production cuts in the first quarter of 2024 to eliminate “speculation and volatility”, Russian Deputy Prime Minister Alexander Novak was reported as saying on Tuesday. OPEC+ agreed last Thursday to voluntary supply cuts totalling about 2.2 million barrels per day (bpd), including
Today’s Asian session saw broad decline in Australian Dollar, along with New Zealand and Canadian Dollars. This pattern suggests a shift towards risk aversion among investors, a sentiment echoed by the performance of major Asian stock indexes. Hong Kong stocks, in particular, continued their recent down trend, reaching new lows due to disappointing earnings results
Headlines: Markets: JPY leads, AUD lags on the day European equities mixed; S&P 500 futures down 0.4% US 10-year yields down 6 bps to 4.226% Gold down 0.3% to $2,024.61 WTI crude flat at $73.07 Bitcoin down 0.6% to $41,7979 It was a session mostly swayed by risk flows, as bond yields retreated while equities
Gold prices edged lower on Tuesday, trading $100 below the record high level hit in the last session, as the dollar held firm and investors awaited more U.S. economic data this week that could influence the Federal Reserve’s rate outlook. Spot gold was down 0.3% at $2,024.30 per ounce by 1200 GMT. Bullion had climbed
Commodity currencies, particularly Australian Dollar, are experiencing notable selling pressure today. However, it should be noted that European investor sentiment, while not explicitly full-blown risk-on, clearly lacks the typical features of risk aversion. In the US, futures markets are just slightly down, indicating a cautious rather than outright negative sentiment among traders. This subdued response
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
LONDON -Oil prices extended declines on Monday, pressured by investor scepticism over the latest OPEC+ decision on supply cuts and uncertainty surrounding global fuel demand, though the risk of supply disruptions from the Middle East conflict limited losses. Monday’s fall adds to a 2% decline last week after the supply cuts announced on Thursday by
Today’s markets are characterized by a sense of caution, with most major pairs and crosses gyrating inside Friday’s range. Japanese Yen is an exception as a stronger performer, although it has not yet seen significant follow-through buying. Dollar and the Euro are currently in a consolidation phase, with traders adopting a ‘wait and see’ approach.
Headlines: Markets: JPY leads, AUD lags on the day European equities lower; S&P 500 futures down 0.4% US 10-year yields up 3.1 bps to 4.254% Gold down 0.1% to $2,069.43 WTI crude down 0.6% to $73.62 Bitcoin up 7.4% to $41,675 Gold and Bitcoin are the early movers to start the new week, both surging
Gold prices on Monday increased Rs 450 to hit a fresh record high of Rs 64,300 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 63,850 per 10 grams. However, silver remained flat at Rs 80,200 per kilogram.
Gold and Bitcoin are leading the charge in Asian markets today, with Gold breaking to a new record high and Bitcoin surpassing the 40000 mark. This surge contrasts with the mixed performance of Asian equity markets, where indices like Japan’s Nikkei and Hong Kong’s HSI experienced some pressure. The varied market reactions come at a
Data from Australia. Australia Company Gross Operating Profits (Q3) -1.3% q/q expected -0.5%, prior -13.1% Business inventories q/q 1.2%, this large build in inventories will adding notably to economic growth in Q3 (i.e. GDP) expected -0.6%, prior -1.9% Company Profits Pre-Tax 1.6% q/q prior -14.6% — Also monthly data, housing finance for October: Home Loans