The global financial markets are responding with caution to the rising tensions in the Middle East. However, this sentiment is tempered and contained, with significant shifts and trends yet to be firmly established. European stock markets are reflecting a subdued sentiment, with DAX and CAC registering modest declines, and FTSE remaining mostly flat. The anticipated
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The beginning of the week is marked by heightened risk aversion and increasing geopolitical uncertainties, primarily stemming from escalating conflicts in the Middle East. The upswing in geopolitical tensions is casting a shadow, prompting a noticeable shift towards safe-haven assets like gold, oil, safe-haven currencies. Japanese Yen emerges as the strongest contender in Asian session,
Japanese Yen is trading on a softer note in Asian session as the rebound witnessed yesterday begins to lose steam. A notable comment from Japan’s Finance Minister Shunichi Suzuki raised some interest among market observers. Suzuki attributed the ongoing weakening of Yen partly to interest rate differentials, steering away from the customary practice of solely
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Mumbai: The Multi Commodity Exchange of India (MCX) said on Sunday that the Securities and Exchange Board of India has withdrawn its direction to the MCX and MCX Clearing Corp to keep the proposed go-live of its new commodity derivatives platform in abeyance. The market regulator had on September 29 instructed the exchange to postpone
UPCOMING EVENTS: Tuesday: US NFIB Small Business Optimism Index. Wednesday: US PPI, FOMC Minutes. Thursday: Japan PPI, UK GDP, ECB Minutes, US CPI, US Jobless Claims, NZ Manufacturing PMI. Friday: China CPI, China Trade data, Eurozone Industrial Production, US University of Michigan Consumer Sentiment. This weekend, Hamas launched a massive attack against Israel which draws
Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives exchange, on October 8, received approval from the Securities and Exchange Board of India (SEBI) Technical Advisory Committee to launch a new web-based commodity derivatives platform (CPD). “SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate
Just last week, White House National Security Adviser Jake Sullivan talked about how “quiet” the Middle East was. “I emphasize for now, because all of that can change, and the Middle East region is quieter today than it has been in two decades,” he said. It’s not anymore. Hamas launched a massive attack against Israel
Gold prices gained on Friday, helped by a technical rebound after a nine-day losing streak, although robust U.S. jobs data raised worries over another U.S. rate hike and kept bullion on track for its second weekly drop. Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track
It’s all happening in the Middle East once again this weekend. A surprise attack by Hamas on Israel set off a strong response in something that will rekindle instability in the region. I doubt Israel headlines move markets but the violence comes at the same time that the US looking for some kind of peace
Spot gold snapped its nine-day long losing streak to settle with a gain of 0.69% at $1,833 on Friday. US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the
In a week brimming with financial intricacies, the most surprising element was the remarkable bounce-back in US stocks post the release of the compelling non-farm payroll report. Conventional wisdom would suggest that such a robust report would serve to reinforce Fed’s inclination towards prolonging its restrictive monetary policy, even if it doesn’t proceed with another
When the US jobs report came out and showed a stronger-than-expected 336K nonfarm payroll jobs (estimate 170K) and revisions of over 100K to the prior month’s, the US dollar moved higher, yields moved higher and stocks moved lower. However, then people started to look at things like the unemployment rate remaining at 3.8% (despite the
Oil prices fell further on Friday, as demand fears due to macroeconomic headwinds were compounded by another partial lifting of Russia’s fuel export ban. On Friday, Brent futures were down 47 cents, or 0.56%, at $83.60 at 1411 GMT, while U.S. West Texas Intermediate crude futures were down 55 cents, or 0.67%, at $81.76. Brent
Dollar is showing impressive strength in the early US session, boosted by job growth figures that nearly doubled market predictions. While wage growth figures mildly underwhelmed, it didn’t deter traders’ enthusiasm, propelling the Dollar to potentially conclude the week as the dominant currency. Notably, Dollar has made up for its earlier losses against Yen, stemming
Markets: Gold up $1 to $1821 US 10-year yields up 2.9 bps to 4.74% WTI crude oil up 18-cents to $82.48 S&P 500 futures up 0.2% GBP leads, JPY lags The news was mostly positive in Europe as German industrial orders rebounded from a dreadful July and Schnabel kept the door open to rate hikes,
Gold price gained Rs 50 to Rs 57,400 per 10 grams in the national capital on Friday amid a rise in precious metal prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 57,350 per 10 grams. However, silver plunged Rs 400 to Rs 70,900 per kilogram. Gold
Dollar, despite retracting some of its earlier gains, remains robust, demonstrating resilience as one of the week’s frontrunners. At the same time Yen and, to a lesser extent, Swiss Franc is showing strength too, underscoring the markets’ cautious stance. Meanwhile, commodity currencies are languishing at the lower echelons, with New Zealand Dollar marginally outperforming its