The major indices are ending the day with solid gains. The gains are led by the NASDAQ index which surged by 1.86%. The Dow industrial average was the laggard today, but still rebounded by 0.50% on the day. All the major indices are closing higher for the week. The final numbers for the day are
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Spot gold closed with a loss of $1 at $1959.20 in an eventful week. Gold got some boost from the peak rate narrative as both the European Central Bank and the US Federal Reserve made it clear that they would adopt a data-dependent approach in deciding their monetary policies going forward. However, the much anticipated
Markets: Gold up $14 to $1958 US 10-year yields down 4.9 bps to 3.96% WTI crude oil up $0.33 to $80.42 S&P 500 up 45 points, or 1.0%, to 4608 GBP leads, JPY lags The Bank of Japan offered plenty of volatility and drama to wrap up a busy week for central bankers but as
Gold prices held near two-week lows on Friday after strong U.S. economic data spurred the dollar and bond yields in a high interest rate environment that dragged the non-interest bearing metal towards its biggest weekly decline in five. FUNDAMENTALS * Spot gold was up 0.2% at $1,948.24 per ounce by 0126 GMT, after earlier hitting
Dollar is reversing much of yesterday’s gain as both headline and core PCE price indexes showed more than expected moderation. Meanwhile, Yen is also reversing earlier gains around BoJ policy decisions. On the other hand, European majors are making a notable comeback, with Sterling outperforming Euro and Swiss Franc. Commodity currencies however, are staying as
On the week itself, the pair is down roughly a little over 1% with the momentum from yesterday’s drop carrying over to today. The souring in the risk mood yesterday was a main drag for the aussie as well but the extension of the fall today looks to be more technical related I would say:
Gold traded with a positive bias on Friday even as the dollar index displayed strength. Over the last five trading sessions, the DXY has strengthened by 0.63%. The August gold futures were trading with gains at Rs 59,510 per 10 grams on the MCX when markets opened, up Rs 107 or 0.18% from Thursday’s closing
Yen was already rallying ahead of BoJ policy decision, and managed to maintain most of its advances, despite some post-announcement jitters. Initial reactions saw some gains pared back as the policy appeared largely unchanged on the surface. However, some key alterations, including the central bank’s decision to buy 10-year JGB yields at 1% in fixed-rate
The JPY is the strongest and the GBP is the weakest of the major currencies. The strongest to weakest of the major currencies The day started with the ECB hiking rates by 25 basis points as expected. Shortly thereafter, a slew of economic data the US was released with all showing better than expected data.
Gold price jumped Rs 250 to Rs 60,600 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,350 per 10 grams. Silver also zoomed Rs 900 to Rs 77,900 per kilogramme. Gold advanced on Thursday, with
Euro turns weaker after ECB’s expected rate hike. Downside momentum is also picking up when ECB President Christine Lagarde indicated that even minor alterations in the statement’s phrasing were intentional. ECB has shifted its wording from interest rates “will be brought to” to will be “set” at a sufficiently restrictive level, providing a basis to
The Fed delivered a 25 bps this week and left the door open for a September move but they were not too pushy about it. There was no explicit guidance to suggest that such a move is a given and they maintained that any move after the summer will be highly dependent on economic data
Bullion traded higher in Thursday’s session, aided by weakness in the Dollar Index (DXY) which slipped below the 101 mark against a basket top six major currencies after the US Federal Reserve hiked rates by 25bps while indicating that any rate cut was unlikely to happen this year. The August gold futures were trading with
Asian markets are trading in positive mood today, even though US stocks were unmoved by FOMC’s rate hike overnight. Fed Chair Jerome Powell was predictably non-committal regarding next policy decision. But investors appear content to go along with the prevailing trend. Meanwhile, this upbeat sentiment is giving a notable boost to commodity currencies, with Australian
The Federal Reserves raise rates by 25 basis points as expected to 5.5%. The changes to the statement were modest. Federal Reserve Chairman Jerome Powell indicated that two upcoming Consumer Price Index (CPI) reports and two non-farm payrolls reports will be crucial data points for the Federal Open Market Committee (FOMC) meeting slated for September
Gold prices struggled for direction in early Asian trading on Wednesday as traders awaited the U.S. Federal Reserve’s widely expected rate hike and a potential end to its monetary tightening cycle. FUNDAMENTALS * Spot gold held its ground at $1,964.14 per ounce by 0110 GMT, while U.S. gold futures edged 0.1% higher to $1,965.90. *
The financial markets appear to be a little on risk-off mode today, as FOMC rate decision is awaited. Additionally, ECB will announce policy decision tomorrow, followed by BoJ on Friday. Commodity currencies are the worst performers so far, as led by Aussie which was pressured following CPI data earlier today. Yen is currently the strongest,
Most dollar pairs are seeing light changes so far today and the greenback itself is seeing some mixed tones, as markets are keeping rather tentative awaiting the FOMC meeting decision. USD/JPY did move slightly lower from its highs in Asia, down from around 141.00 to 140.72 currently but is now just down around 0.13%. The