Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks. The US 10-year treasury note yield climbed towards 4.3%, supported by a surprising drop
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Highlight of the week ending September 8 was a somewhat unexpected surge in the US yields despite a softer than expected US non-farm payroll report for the month of August released on September 1. Notwithstanding the somewhat weaker than expected monthly job report, the US yields surged on the huge quantum of corporate bond issuance
In a week characterized by significant currency movements, Dollar asserted its dominance, closing as the top performer and pushing the Dollar Index tantalizingly close to a pivotal medium-term resistance zone. The upcoming fortnight will be instrumental in assessing Dollar’s upside momentum, which, in turn, will shed light on whether the currency is embarking on a
China’s consumer-price index and producer-price index from the National Bureau of Statistics. higher services prices (prices of air tickets, tourism and accommodation rose over the summer holiday season) dragged CPI up from its negative return in the previous month neverthelss CPI came in lower than the surveyed consensus of expectations from economists food prices fell
Gold price rose by Rs 100 to Rs 60,150 per 10 grams in the national capital on Friday amid strong cues in the overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,050 per 10 grams. However, silver remained flat at Rs 74,100 per kilogram. In the
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
India’s leading exchange National Stock Exchange (NSE) will launch options on WTI crude oil and natural gas futures contracts in its commodity derivatives segment. The launch date will be announced soon. WTI crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and
Canadian Dollar is having a notable uplift in early US session, propelled by stronger than expected employment data that underscores a persistently robust and tight labor market scenario in the country. The revelations from the data could potentially pose hurdles in the path of Canada’s disinflation journey, a process which, according to BoC governor Tiff
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 gained on Friday amid a weak dollar which was trading with a negative bias. At 104.86, the dollar index (DXY) was down 0.20%, though still remaining at a 6-month high. The MCX October gold futures were trading up by Rs 127 or 0.22% from the Thursday closing price at Rs 59,125 per 10 gram
Asian market trading is subdued today, with Dollar retreating as its recent rally began to lose steam. Notably, overnight remarks from Fed officials didn’t provide any fresh cues, reinforcing expectations of a pause in rate hike this month. However, the door remains open for a subsequent rate hike, contingent on incoming data. All eyes now
Yesterday the Bank of Canada left rates unchanged at 5.00% but the market isn’t sure they’re done. The October meeting is priced at a 13% chance of a hike and that rises to about 30% for the Dec 6 meeting. The BOC statement maintained a hawkish bias, saying: The Governing Council remains concerned about the
Gold prices edged higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates. Spot gold was up 0.3% at $1,922.70 per ounce by 1213 GMT, after hitting a one-week low on Wednesday.
Sterling is under pronounced pressure in forex markets, trailing as the day’s worst performer. This wave of selloff initiated yesterday following BoE Governor Andrew Bailey’s articulation to the parliament, hinting that UK is “much nearer” to hitting the terminal interest rates. Further aggravating the downfall, a BoE survey rolled out today unveiled a stark decline
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 fell on Thursday led by steady dollar amid concerns of inflation and likelihood of further interest rate hike by the US Federal Reserve. At 104.86, the dollar index (DXY) was hovering just shy of 105 against a basket of six major currencies which lent weakness to the yellow metal. It was also the greenback’s
Asian markets showcased a mild risk-off tone today, in the wake of lower closes in US markets overnight. However, the forex arena remains comparatively tranquil with major currency pairs and crosses largely confined within the previous day’s trading range. Lingering apprehensions regarding a potential rate hike by the Fed have resurfaced following robust US services