Gold prices were flat in early Asian trade on Thursday as markets focused on the U.S. debt-limit negotiations, with a firmer dollar capping gains after traders dialled back expectations of a rate cut this year by the Federal Reserve. FUNDAMENTALS * Spot gold steadied at $1,982.85 per ounce by 0046 GMT, while U.S. gold futures
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Yen declines broadly in Asian session, appears to be more of a reaction to rally in Nikkei, which broke through 29500 level for the first time since November 2021, and now seems poised to challenge 30000 psychological level. Dollar, along with its safe-haven counterpart, Swiss Franc, also trended lower as these currencies recalibrate following last
Oil is riding a strong risk mood and signs that OPEC+ members are following through on their pledged output cuts. The cuts took effect from May 1 but early signs showed high exports from Russia and many were skeptical they would play along, creating a risk of a fracturing cartel. Today though, Russian energy minister
Gold prices retreated on Wednesday as the dollar advanced after comments from U.S. Federal Reserve officials cast doubts over interest rate cuts this year. Spot gold dropped 0.7% to $1,975.70 per ounce by 10:03 a.m. ET (1403 GMT), its lowest since April 27. U.S. gold futures fell 0.5% to $1,983.90. The dollar’s jump, in part
Market sentiment continue to flip-flop on flowing headlines regarding US debt ceiling negotiations. But then, it should be remembered that it’s not done until it’s done. So uncertainties and volatility still lie ahead. Yen is the consistent one extending its near term decline. Commodity currencies are rebounding with Sterling. But the more important development is
Dollar bulls kept the faith in trading yesterday after a good set of US data releases, headlined by the retail sales report here. Odds of a 25 bps rate hike for next month moved up slightly but is now still just showing an 18% probability. Some Fedspeak also helped to move the needle a little
Gold prices held steady in early Asian trade on Wednesday after retreating from the key $2,000-an-ounce mark in the previous session, while investors kept their eyes peeled for an outcome from the U.S. debt-limit negotiations. FUNDAMENTALS * Spot gold held its ground at $1,992.19 per ounce by 0032 GMT. U.S. gold futures edged 0.1% higher
Clear direction is yet to be established in the forex markets this week, with the exception of Yen’s continued depreciation, albeit at a slow pace. Canadian Dollar’s rally, spurred by CPI data, was abruptly halted due to worsening risk sentiment, marked by DOW’s over -330pts drop. US Treasury Secretary Janet Yellen amplified her warning about
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 prices slipped on Tuesday led by some recovery in the dollar index. The MCX June Gold futures were trading at Rs 60,951 per 10 grams in the opening trade, down Rs 76 or 0.12%. Meanwhile, July Silver futures retreated Rs 152 or 0.21% to trade at Rs 73,250 per kg. The DXY was trading
Canadian Dollar is enjoying a broad rally in early US trading session, fueled by data that revealed unexpected reacceleration in Canadian consumer inflation for April. The evidence for BoC to resume tightening measures is steadily accumulating. Amid slight risk-off sentiment in US markets, due to persistent uncertainties over debt ceiling negotiations, Swiss Franc and Japanese
Not much has changed from yesterday’s post here, as markets are caught in a bit of a bind for the time being. Perhaps tech stocks may look to be the standout, after the Nasdaq moved higher again yesterday. However, I would say that the overall risk mood still hangs in the balance. With major currencies
Gold prices eased in early Asian trade on Tuesday as traders assessed comments from U.S. central bank officials on interest rates staying high, while market focus was also on developments in the debt-ceiling debate. FUNDAMENTALS * Spot gold was down 0.3% at $2,014.62 per ounce by 0029 GMT, while U.S. gold futures eased 0.2% to
Australian Dollar took a dive in today’s Asian trading session, reeling from a sharp decline in consumer sentiment and a slew of weaker-than-anticipated economic data from China. Despite the headwinds facing Aussie, New Zealand Dollar held its ground, buoyed by Westpac’s predictions of continued monetary tightening by RBNZ from the present 5.25% to 6.00% in
The risk picture is slowly improving after an earlier hiccup on the debt ceiling. The market took the poor Empire Fed in stride and that was a impressive. Bitcoin has also been consistently strong today and perhaps that was a hint at what was coming. AUD/USD has now retraced Friday’s declines and is right back
Market sentiments show signs of revival today, appeared to be buoyed by optimism over a potential debt ceiling agreement between US Democrats and Republicans. Over the weekend, Treasury Secretary Janet Yellen delivered upbeat remarks, indicating that negotiations were in full swing and marked by “some areas of agreement.” This optimism has brought a ripple effect
Gold prices climbed Rs 370 to Rs 61,350 per 10 grams in the national capital on Monday amid a global rally in the precious metal, according to HDFC Securities. The yellow metal had ended at Rs 60,980 per 10 grams in the previous trade. Silver also zoomed by Rs 750 to Rs 74,350 per kg.
The dollar has been keeping solid in the past few sessions and at the close last week, EUR/USD buyers were dealt a blow as sellers pushed price back under the 1.0900 mark. What was more important though, was the fact that the weekly close fell back under its 100-week moving average (red line): After a