NEW DELHI: Gold price little changed on Wednesday ahead of the Federal Reserve’s outcome as investors stayed cautious over the outlook for the bullion. The US central bank is widely expected to raise interest rates by another 75 basis points (bps) at the conclusion of its policy meeting on Wednesday, as it attempts to tame
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Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro is staying under much pressure on
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
New Delhi: Gold in the national capital on Tuesday fell by Rs 28 to Rs 51,192 per 10 grams, according to Securities. In the previous trade, the yellow metal finished at Rs 51,220 per 10 grams. Silver also declined by Rs 203 to Rs 55,297 per kg from Rs 55,500 per kg in the previous
Euro is under heavy selling pressure today on renewed worries over cut off of Russia gas supply. It’s additionally pressured and Germany 10-year yield breaks below 1% handle again. For now, Sterling appears to be a distant second. On the other hand, Dollar and Yen are gaining most, followed by Swiss Franc. Commodity currencies are
I’ve been noting since yesterday that the bond market is the spot to watch in trading this week and we’re seeing a return of the bids at the end of last week in trading today. 10-year German bund yields have now fallen by nearly 4 bps to 0.985% – its lowest in almost four weeks:
Gold rose marginally on Tuesday on the back of a weaker dollar, but the upside was capped as investors refrained from taking bigger bets ahead of the US Fed’s meeting over interest rate hikes. Expectations of around a 100-basis point rate hike surged after US annual consumer prices saw their sharpest spike in more than
Markets continue to be very quiet in Asian session today. Investors are clearly holding their bets ahead of tomorrow’s FOMC rate hike. Dollar is a softer one together with Yen and Swiss Franc. On the other hand, Canadian Dollar is firmer together with Aussie. Euro and Sterling are mixed. Generally speaking, most major pairs and
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
Oil prices rose on Monday, bolstered by a slightly weaker U.S. dollar and stronger equity markets in a session that seesawed between supply fears and expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement rose 68 cents, or 0.66%, to $103.88 a barrel by 1402 GMT, while
Overall sentiment appears to be positive in very quiet trading today. Major European indexes are trading higher while US and Germany benchmark yields are recovering mildly. Aussie is leading commodity currencies higher, as well as Sterling. Yen is currently the weaker one, followed by Swiss Franc and Dollar. Euro is mixed despite poor Germany business
UPCOMING EVENTS: Tuesday: US CB Consumer Confidence. Wednesday: FOMC Policy Announcement. Thursday: US Q2 Advance GDP. Friday: US PCE. We closed the last week with surprisingly awful US PMI data. The services index in particular fell much lower than expectations to 47 from the prior 52.7 a month earlier. That is a very fast deterioration
NEW DELHI: Gold prices were trading largely unchanged on Monday. Lower treasury yields and a slight pullback in the US dollar supported the sentiments for bullion. However, traders braced for a 75-basis-point interest rate hike by the US Federal Reserve. The US Fed is scheduled to meet this week to discuss the monetary roadmap. The
Dollar recovers mildly in quiet Asian session today, but it’s bounded inside Friday’s range except versus Canadian. The greenback will most probably wait until Fed Chair Jerome Powell’s comment, after another 75bps this week, before taking another firm move. As for today, Euro is so far the firmer ones, follow by Yen. New Zealand Dollar
US Treasury Secretary Yellen spoke over the weekend on NBC’s “Meet the Press”: “This is not an economy that is in recession” “You don’t see any of the signs. Now, a recession is a broad-based contraction that affects many sectors of the economy. We just don’t have that” Yellen did acknowledge the impacts of high
Gold prices were flat on Friday, pressured by an uptick in the U.S. dollar and fears over aggressive rate hikes, although heightened slowdown worries kept safe-haven bullion on track for its first weekly gain in six. FUNDAMENTALS * Spot gold held its ground at $1,717 per ounce, as of 0114 GMT, after rising more than
Societe Generale Research discusses the EUR/USD outlook and maintains a bearish bias into year-end. “Open your eyes, look up to the skies and see; Europe’s caught in a landslide: The ECB’s monetary policy matters less, than President Putin’s gas export strategy. Nordstream 1 came back online yesterday, but markets aren’t comforted. Not when even the
Copper prices on Friday increased by 0.51 per cent to Rs 626 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in July traded higher by Rs 3.15 or 0.51 per cent at Rs 626 per kg in a business turnover of