The yellow metal started the holiday-shortened week on a positive note and is poised for the best weekly gain since April, amid sharp fall in the greenback and the US benchmark treasury yields. The dollar index fell below 103.5 levels, after touching a two-month high of 104.7 on Wednesday, while the yield on the US
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It was time for the laggard indices to take control today. Both the Dow industrial average and the Russell 2000 of small-cap stocks outperformed the NASDAQ which is been the big outperformer in 2023. The final numbers for the day are showing: Dow industrial average rose 797 points or 2.12% at 33762.59. That was the
Gold was trading with minor gains on Friday as a pullback in the dollar index (DXY) below the 104 mark lent some strength. The gains were on account of Philadelphia Federal Reserve President Patrick Harker’s comments, arguing for not undertaking another rate hike when the Fed meets later this month. He said the Central Bank
Dollar is trying to recover in early US session after much stronger than expected non-farm payroll job growth. Nonetheless, upside is capped so far, considering the surprised jump in unemployment rate too. For now, Aussie remains the strongest one for the day, followed by other commodity currencies. Yen is the worst performer, followed by Swiss
Markets: Gold down $29 to $1948 WTI crude oil daily +$1.85 to $71.93 S&P 500 up 62 points to 4289 US 10-year yields up 8.3 bps to 3.69% US 2-year yields up 16 bps to 4.50% AUD leads, JPY lags Non-farm payrolls beat the consensus estimate for an unprecedented 14th time and it beat it
Gold slipped on Friday as hotter-than-expected U.S. jobs data lifted Treasury yields, though it was on track for a weekly gain as a higher unemployment reading kept alive hopes that the Federal Reserve would pause interest rate hikes. Spot gold was down 0.8% at $1,962.69 per ounce by 11:20 a.m. EDT (1520 GMT) after hitting
Dollar is extending the near term pull back in Asian session today, driven by a combination of factors including a risk-on market sentiment, falling Treasury yields, and growing market expectations of a Federal Reserve “skip” in June. However, the greenback, along with other currencies, will be closely watching today’s non-farm payroll data for further direction.
After the drop yesterday, let’s take stock of the technical situation in the dollar and how that will set things up ahead of the US jobs report later today. The greenback might be little changed mostly, with the antipodeans being the only notable movers in the major currencies space, but there are some interesting technical
Oil prices rose on Friday in early Asian trade as markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend amid positive sentiment over U.S. monetary policy and Washington’s debt ceiling bill. Brent crude futures rose 13 cents, or 0.18% to $74.41 a barrel by 0115 GMT, while U.S. West Texas Intermediate crude
Dollar falls broadly today, despite strong job data, as near term consolidations continues. The odds of a June Federal Reserve rate hike seem to be dwindling, following recent comments that emphasized the likelihood of a hold. However, the overall landscape could alter significantly following tomorrow’s non-farm payroll report. Notably, the greenback still retains its position
The USD fell sharply today (the greenback is ending the day as the weakest of the major currencies) as the Fed “skip in June” tilt was further priced in despite the fact that ADP and initial jobless claims remained fairly strong (initial jobless claims came in at 232K vs 235K estimate). There nevertheless was some
MCX gold futures fell on Thursday fell, taking cues from a lacklustre trade in the international market. While the US House passed the debt bill after the warring Democrats and Republicans arrived at an agreement, investors are eyeing the Federal Reserve’s Open Market Committee meeting scheduled later this month, before taking their calls on the
Dollar turned mixed in Asian session as traders are awaiting fresh inspirations from economic data and comments from Fed officials. The FOMC is clearly split in way with some policymakers advocating a “hold” in June. Nevertheless, they’re unified in another way that even a “hold” doesn’t necessarily means a “pause”, not to mention a “peak”.
Prior 47.8 A mild revision higher to the initial estimate but the headline reading is still a 4-month low. Output contracts once again with the fall in new orders and employment both accelerating. S&P Global notes that: “The UK manufacturing downturn deepened in May, with output, new orders and employment all falling at increased rates.
Gold prices ticked up in early Asian trade on Thursday, helped by a softer dollar, but were stuck in a tight range as traders focused on the U.S. debt ceiling vote. FUNDAMENTALS * Spot gold edged up 0.2% to $1,965.61 per ounce by 0008 GMT. U.S. gold futures rose 0.2% to $1,965.20. * The dollar
Risk aversion is the main theme in the markets today, as selloff in stocks started in Asia following poor data from China, and continued through European session. Dollar and Yen are holding firm as the strongest ones for now. Euro traded a touch lower after lower than expected inflation readings in France and Germany, but
The inventory data from the private survey is out now, official data follows Wed. morning (US time). The numbers via Twitter: The headline crude result was expected to be a draw of 1.22 million barrels. Expectations I had seen centred on: Headline crude -1.2 mn barrels Distillates +0.9 mn bbls Gasoline -0.5 mn This data
Gold prices jumped by Rs 455 to Rs 60,400 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had finished at Rs 59,945 per 10 grams. Silver also climbed Rs 500 to Rs 72,750 per kg. “Spot gold prices in