Eurn turns weaker today after investor confidence data suggests that economic recovery might be faltering. But for now, Yen and Dollar are even weaker. Sterling and Swiss Franc are not much better than Euro too. Commodity currencies are the stars of the day, with New Zealand Dollar leading the way. Canadian Dollar is also catching
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USD/JPY traded above 135.20 early in the session. Japan reopened after holidays last week on Wednesday, Thursday and Friday. The news of note today was the publication of Bank of Japan Minutes from the March meeting. This was the final meeting under Governor Kuroda and there were no changes to policy made. The minutes were
Gold prices were flat on Monday, after slumping more than 2% in the previous session, as investors maintained a cautious stance ahead of key U.S. inflation data due this week. FUNDAMENTALS * Spot gold held its ground at $2,016.29 per ounce, as of 0016 GMT. U.S. gold futures were down 0.1% at $2,023.80. * The
Net income: $35.5 billion (up from $5.58 billion a year earlier) Operating earnings: $8.07 billion (up from $7.04 billion last year) Cash and cash equivalents: $130.6 billion (up from $128.6 billion at the end of 2022) Warren Buffett expressed optimism at Berkshire Hathaway’s annual shareholder meeting, despite market anxiety. He discussed Berkshire’s investments in oil
Spot gold closed with a weekly gain of nearly 1.50% % at $2017.56. The metal slid sharply lower Friday on seemingly a much better-than-expected US nonfarm payroll report for April. Friday’s loss cut its weekly gain nearly in half. Earlier, gold refreshed its all-time high as it rose to $2080 on May 4 in the
MCX gold and silver traded with a positive bias on Friday after touching fresh lifetime highs towards the fag end of Thursday’s trading session. Silver futures scaled a new peak of Rs 78,791 per kg, decisively breaking the previous all-time high of Rs 77,949 they made in August 2020. Gold futures hit yet another lifetime
Risk-on, risk-off, and then risk-on. It’s a roller-coaster ride for investors last week,with a slew of heavy-weight events. In the end, commodity currencies ended as the best performers, with support from rebound in sentiment. Canadian Dollar held a slight advantage over Australian and New Zealand Dollar. But all have them have reasons to extend last
Gold prices started the week on a negative note amid improved risk sentiments after JPMorgan Chase & Co. agreed to acquire First Republic after its collapse last month, making it the second-biggest bank failure in US history. The government-led deal fueled optimism that the worst of the banking sector turmoil might be over, prompting a
Anuj Gupta, Vice President, IIFL Securities, says future contracts are very useful for hedging the prices by using future contracts. After the listing of this commodity on the exchange, traders are using this platform for hedging the prices. A few days back, we saw unseasonal rain destroy almost 4,000 sacks of Isabgol in Jaisalmer. So
Dollar trades broadly lower overnight and remains soft in Asian session. Despite risk-off sentiment in the US, the greenback failed to find support, as market participants bet on an earlier Fed rate cut due to ongoing bank concerns. Meanwhile, Euro is also facing pressure due to falling treasury yields, with yesterday’s ECB rate hike now
Gold prices declined Rs 160 to Rs 62,040 per 10 grams in the national capital on Friday amid a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 62,200 per 10 grams. Silver, however, climbed Rs 650 to Rs 77,950 per kg. “Spot
Dollar jumps in early US session as lifted by a set of strong non-farm payroll data. But it remains to be seen if buying could sustain. Still, Canadian Dollar looks even stronger for its own robust employment data too. For now, Swiss Franc is the worst performer for the day, very much thanks to the
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Oil prices fell over 1% on Thursday, deepening steep losses in recent days, after the U.S. Federal Reserve increased interest rates and investors worried about a weakening global economy that could dent energy demand. Brent futures fell 76 cents, or 1.1%, to $71.57 a barrel by 0002 GMT. The global benchmark on Wednesday posted its
Dollar was sold off broadly overnight after Fed indicated openness to a pause in tightening after raising interest rate by 25bps. Yet, selloff is relatively limited after Chair Jerome Powell ruled out a rate cut this year. Indeed, major stock indexes ended slightly lower, as weighed by persistent concerns over regional banks in the US.
Shares of PacWest Bancorp are down 46% today after a report late yesterday that the company was considering strategic alternatives. The company responded with a press release that highlighted a sale process of its Lender Finance business that was already announced and said that it had been approached ‘by several potential partners and investors’ in
On a recent evening in April, only three or four people browsed among the several gold jewellery booths in a plaza in Beijing’s high-end Wangfujing shopping district and all left without buying anything. “I’m just taking a look. I do not consider buying right now because prices are too high at the moment,” said one
Euro dips initially after ECB stepped down tightening pace with a 25bps rate hike today. But it then quickly recovers after ECB President Christine Lagarde firmly said in the press conference, “We are not pausing. That’s very clear… We know we have more ground to cover.” Overall though, Euro is on the weaker side today,