Dollar falls broadly after ISM Manufacturing index indciates further deterioration in the sector. But loss is so far limited. Overall markets remain quiet. Swiss Franc and Yen persist are the softer performers. The Franc felt slight impact of Swiss CPI readings, which were lower than anticipated. However, market reaction remains mild, considering SNB’s prior forecast
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It’s a brand new week, month, quarter, half-year for markets but this is a bit of a familiar story. It is one that we already went through during October last year, with just a different handle for USD/JPY. The pair is up 0.2% today to 144.60 and all eyes are continuing to watch for whether
Gold prices edged lower in early Asian trade on Monday, helped by a slightly stronger U.S. dollar, with chances of more interest rate hikes by the Federal Reserve weighing on bullion’s appeal. FUNDAMENTALS * Spot gold was down 0.1% to $1,917.19 per ounce by 0053 GMT while U.S. gold futures fell 0.2% to $1,925.10. *
The price of WTI crude futures are settling at $70.64. The high price reached $71.04. The low price was at $69.53. The Baker Hughes rig count fell for the 9th consecutive week. Earlier this week crude oil inventories shows a huge drawdown of 9.6 million barrels much higher than expectations. Multiple OPEC* delegates foresee an
Comex gold prices moved between gains and losses during the week and are poised to close relatively flat near $1,975 per troy ounce. The yellow metal declined during the first half of the week, as investors remained wary ahead of the June FOMC meeting. Despite a 1% decline in the dollar index, gold prices have
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Gold prices lingered near their lowest in nearly four months on Thursday, as U.S. Federal Reserve Chair Jerome Powell kept the door open for more interest rate hikes to bring down inflation.FUNDAMENTALS* Spot gold rose 0.25% to $1,912.19 per ounce by 0123 GMT. On Wednesday, the metal hit its lowest since mid-March at $1,902.69.* U.S.
The price of Apple closed above $3 trillion for the 1st time. It was also the 1st company to do that. The NASDAQ index had its best start to the year in 40 years. The major indices all closed higher for the week and the month. The final numbers are showing: Dow industrial average rose
Highlights of the week ended June 30 include views and opinions of the key central bankers at ECB forum held from June 27 to June 28 in Sintra, Portugal. Market participants keenly watched a panel discussion involving Federal Reserve Chair Powell, Bank of England Governor Bailey, ECB’s President Lagarde and Bank of Japan’s Governor Ueda
Dollar bulls experienced a somewhat disheartening week, as the initial rally supported by hawkish remarks from Fed Chair was halted by subsequent inflation data release. Consequently, the greenback managed to secure only the third position for the week, trailing behind Swiss Franc and Euro. The vigorous late-week rally in US stocks, coupled with the sluggishness
US core PCE prices (excluding food and fuel costs) for the month of May rose 0.3% as expected but the YoY level was mostly lower at 4.6% versus 4.7% last month and expected. The PCE price index fell from 4.3% to 3.8%. That was the 1st decline below 4% since early 2021. Personal consumption (adjusted
Brent crude oil prices were little changed in early trading on Friday, but were set to notch their first monthly gain this year as a steep drawdown in oil stocks and OPEC+ plans to cut output outweighed demand fears stemming from rising interest rates. Brent crude futures for September delivery fell 19 cents, or 0.3%,
In the run-up to the close of the first half, forex markets appear to be treading water in today’s Asian session. Market responses to China’s lackluster PMI data have been tepid, while Yen remains largely unfazed by Japan’s industrial production figures and Tokyo’s CPI. Asian indexes are mixed with mild selloff in Nikkei. Dollar and
Hopes for a bitcoin ETF have spurred the bitcoin rally to $31000 from $25000 but they hit a speedbump today with a breaking WSJ report that the SEC rejected the applications. All is not lost though as the story indicates they can re-file to address surveillance issues. “Some industry watchers predicted that BlackRock’s filing would
Gold prices rose Rs 80 to Rs 59,030 per 10 grams in the national capital on Friday amid gains in overseas precious metal prices, according to HDFC Securities. The yellow metal had settled at Rs 58,950 per 10 grams in the previous trade. Silver, however, tumbled Rs 550 to Rs 70,700 per kilogramme. “Gold slightly
Dollar sees a significant dip in early US session after release of economic data showed a slower than expected headline PCE inflation and a slight decline in core PCE inflation. In contrast, Eurozone reported a tick up in core inflation for the same period. Stock futures rally on this news, while benchmark treasury yields dip
That set it on the path from the break of 140.00 to having touch a high of 145.07 earlier today. The 145.00 mark is where we can start to gauge intervention territory by Japanese officials, something which was pointed out here earlier this month. There has already been plenty of verbal warnings but that is
Gold struggled for momentum in early Asian trading on Friday, as traders awaited key U.S. inflation numbers due later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes. FUNDAMENTALS * Spot gold was flat at $1,908.33 per ounce by 0122 GMT.