Given little else for the market to work with, we are seeing a more straightforward risk positive session with market participants also keeping the focus on the softer dollar from the end of last week. European equities are holding higher with S&P 500 futures now up 0.7% on the day. That is seeing the dollar
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NEW DELHI: Gold prices were trading higher on Monday, thanks to the pullback in the US dollar. The dollar slipped against its rivals, moving further away from a near 20-year high hit last week, making greenback-priced bullion less expensive for buyers holding other currencies. Gold futures on were trading higher about 0.45 per cent or
Risk sentiment is positive as another week starts, with major Asian indexes trading higher while Japan is on holiday. Dollar is extending its near term pull back while Yen and Swiss Franc are also soft. On the other hand, New Zealand Dollar is lifted slightly by stronger than expected consumer inflation data, while Aussie and
> Biden: Had a good series of meetings and Saudi Arabia Pres. Biden speaking after meeting with Saudi Arabia Had a good series of meetings and Saudi Arabia opening airspace is a big deal we have accomplished has some significant business with Saudi’s hopes it will lead to a broader normalization of relations hopes opening
There seems more to the easing of oil prices than just recession fears. Oil dropped below $100 per barrel earlier this week and remained under pressure. The market mood cooled and has moved into neutral territory as indicated by the futures positions, respectively the net-length exposure by non-commercial participants. We believe that the change in
US President Biden travelled to the Middle East to plead for higher oil output. I’ve seen plenty of “No, actually he went for …” . Sure, he had meetings on other issues, but for Biden, oil is the big concern right now. US mid-term elections are right around the corner and angry motorists will need
Precious metals, which rallied in the first half of the current calendar, have lost steam. They have seen deep cuts over the last few weeks, barely holding the key psychological levels. Market experts said the interest rate hikes amid inflationary pressures have dented the appeal of the safe-haven metal. Silver slipped below the Rs 55,000
The major US stock indices closed sharply higher and near session highs. The major indices for the week still closed lower, but cut into those declines with the sharp gains today. Retail sales came in better-than-expected which helped. Industrial production was lower and Michigan consumer sentiment came in a little better than expectations and showed
Dollar was the strongest one for most part of the week, and even breached parity against Euro. But the greenback pared gains on late turn in market sentiment, and ended as the second best only. Swiss Franc was surprisingly the best performer, while Kiwi was the third. Yen was the weakest one, as selloff continued
Gold market players are striving for some respite from the selloff that has mired the market since March when it topped the $2000/oz level. Gold fell 2% last week, marking its fifth consecutive decline, its biggest string of weekly losses since 2018 when it fell for six consecutive weeks. Gold has been falling and hitting
The US retail sales were anticipated today along with the Univ. of Michigan consumer sentiment. Recall from last month, the sharp fall in consumer sentiment was a catalyst for the Fed to hike by 75 basis points as concerns about inflation threatened the growth prospects in the economy.. For retail sales, after stronger than expected
Dollar is staying as the strongest major currency in the market for now. Yen and Swiss Franc are not performing too badly, as supported by mild risk-off sentiment. But Canadian Dollar is also resilient, awaiting BoC’s decision on whether to deliver a jumbo rate hike. Aussie and Euro are currently the worst, while Sterling is
Gold prices in the national capital on Friday fell by Rs 293 to Rs 49,970 per 10 grams amid decline in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,263 per 10 grams. Silver also tumbled by Rs 1,075 to Rs 54,326 per kg from Rs
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NEW YORK -Oil prices gained 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production. Brent crude futures were up $2.50, or 2.5%, to $101.60 a barrel by 11:39 a.m. EDT
Dollar is starting to pare back this week’s gains in early US session, after retail sales data were not materially stronger than expectations. It looks like EUR/USD could close the week above parity, and may start to stabilize for the near term. US futures are trading higher after the data and could point to a
Major currencies are seeing little change with the dollar mostly steady, as all eyes turn towards the US retail sales data later today. Equities and bond yields are also observing light changes, so there isn’t much to work with as we get into European morning trade. After the wild swings yesterday, markets are more guarded
NEW DELHI: Gold prices were steady in Friday’s early trade but looked set for a fifth straight weekly loss. Gold futures on were marginally lower about 0.06 per cent or Rs 31 at Rs 50,197 per 10 grams. However, silver futures traded lower by 0.23 per cent or Rs 129 at Rs 54,906 per kg.