The FOMC rate decision is “one sleep away” and less than 24-hours away. The decision will take place at 2 p.m. The expectation is for no change in the target range of 5.25% to 5.5%. The question that traders will be answering is “Will the no change be more hawkish or dovish or balanced?”. That
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Gold prices hit two-week highs on Tuesday, with the U.S. dollar losing its grip on six-month highs scaled last week, with attention focused on the Federal Reserve’s two-day policy meeting that begins later in the day. FUNDAMENTALS Spot gold was steady at $1,932.79 per ounce by 0058 GMT, having hit its highest since Sept. 5
Canadian Dollar’s rally gathers additional momentum during early US session, buoyed by data that depicted faster re-acceleration in Canadian inflation than anticipated. It is noteworthy that the surge in headline inflation figure was chiefly influenced by escalating gasoline prices, yet inflation excluding gasoline did not decelerate as BoC would love to see. This scenario is
Just a month ago, we were still debating about 6% rates for the BOE outlook but all of a sudden now, markets are only seeing just a little over one more rate hike for the central bank. Here’s a look at the change in the OIS market pricing: The odds of a 25 bps rate
Copper prices edged lower in Asian trading on Tuesday, as the overall mood was subdued ahead of interest rate decisions by central banks this week, with the U.S. Federal Reserve set to begin its two-day policy meeting later in the day. Concerns that faltering post-pandemic economic rebound in China, the world’s top metals consumer, could
Asian markets manifested mild risk-off sentiments today, with Nikkei weighing down the broader region. As Japanese investors made their way back from an extended holiday weekend, notable sell-off in chip stocks took place. This reaction was prompted by reports that Taiwan’s premier chipmaker, TSMC, had requested its major vendors to postpone deliveries. Adding to the
A note from Citigroup commodity analysts via CNBC (gated). Analysts at the bank say Oil prices may head toward $100 “for a short while”, citing output cuts and geopolitical tensions. But that level is not sustainable and the price is likely to drop into the end of the year: “The Saudi appetite to withhold oil
Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the
In today’s rather subdued trading sessions, most of the movements in the financial markets are limited. European indexes are somewhat in red, albeit with contained losses for the time being. Meanwhile, yields in US and Europe have experienced a minor increase. In the currency sphere, Sterling is mildly weaker, closely followed by Dollar and Euro.
Major central bank decisions are of course the main watch, which is in part contributing to the rather lackadaisical mood so far in European morning trade today. From earlier: The central bank bonanza heats up this week But it’s not just those policy decisions that will be of interest to markets. There will be quite
At the beginning of the week, COMEX Gold saw some positive movement as the greenback weakened, triggered by Bank of Japan Governor Kazuo Ueda’s remarks hinting at possible policy shifts based on wage data by year-end. This spurred a rally in the Yen and Japanese government bonds. However, the dollar index has since gained momentum,
Today’s Asian financial markets have shown signs of calmness, partly due to holiday in Japan that has likely tempered trading activities. Dollar and Euro were mildly softer, while Aussie, Kiwi, and Yen exhibited slight strength. However, the fluctuations were confined within the ranges observed last Friday, pointing to the low-volatility environment in currency markets. The
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Oil prices hit a 10-month high on Friday and posted a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude. Brent crude futures rose 23 cents, or 0.3%, to settle at $93.93 a barrel, while U.S. West Texas Intermediate futures was up 61
S&P is out with it expectations for the UAW strike and implications. They say Warns that if the UAW strike continues for over a week and expands, it could lead to significant reductions in earnings and liquidity in the US auto sector for 2023. Predicts a slowdown in U.S. auto sector momentum in the second
As the festival of Ganesh Chaturthi will be celebrated on Tuesday, September 19 it will mark the beginning of a long festive season in India, gold could likely take a break from the ongoing bearish undertones in the medium term. The domestic prices are expected to remain steady on festive buying and a stronger dollar
General Motors is out saying that it expects to run out of parts at Kansas plant as soon as next week. This is because of the Missouri plant strike. The ship shortage from Covid, led to a shortage of autos for a few years and also to higher prices for used and new cars. The
Gold gained on Friday as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world’s top bullion consumer, although the possibility of further U.S. interest rate hikes kept investors on edge. Spot gold rose 0.4% to $1,917.59 per ounce by 0701 GMT. Bullion dropped to near $1,900 level,