But before we get to the Fed decision on 3 May, there will be some key risk events to consider in trading this week. Here’s the list: Australia Q1 CPI figures (26/4) US Q1 advance GDP data (27/4) BOJ monetary policy meeting decision, forecasts (28/4) Germany April preliminary CPI figures (28/4) France April preliminary CPI
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In today’s Asian trading session, Australian and New Zealand dollars extend their decline from late last week, weakening broadly. Concurrently, Japanese Yen is trailing as the next weakest currency. This picture aligns with the steady risk sentiment across Asia, except for Hong Kong stocks. On the other hand, Dollar, Euro, and Swiss Franc are showing
Gold closed with a weekly loss of 1% at $1982.89. The metal was hammered lower Friday on better-than-expected S&P US global PMIs data. Repeated attempts to take out stiff resistance at $2020 have failed, which makes gold somewhat vulnerable in the near-term. S&P global manufacturing PMI preliminary data for April showed that the US manufacturing
Got your investor and trader hats on? Let’s dive into market sentiment and unusual options activity for the SPY / SPDR S&P 500 ETF Trust and the total market between 2023-03-17 and 2023-04-21. Feeling bearish? So is the SPY ETF! Put/Call ratios were mostly above 1, meaning investors bought more put options than call options.
Base metals prices in the global markets witnessed a mixed sentiment in the first quarter of 2023. Though copper and aluminium managed to hold moderate gains, other metals like zinc, lead, and nickel lost momentum on an uncertain demand outlook. The reopening of China’s economy and better-than-anticipated industrial growth in Europe and the US lifted
BNP Paribas Research discusses its expectations for next week’s BoJ policy meeting. . “We expect the Bank of Japan to keep its policy unchanged at its first meeting under its new leadership. We see a good chance of the forward guidance being revised to a simpler and more neutral one, but the basic message will
Many Indians believe that buying gold on the auspicious day of Akshaya Tritiya will bring in luck and prosperity. Over the past six months, the price of gold has risen approximately 20%, to over $2,000 per ounce in the international market & Rs 60,000/- plus in the Indian market. The performance of gold in the
The markets traded in relatively narrow trading range today and for the week. Looking at the low to high trading ranges for the major indices: The NASDAQ index range for the week was only 258 points. That was the lowest range since December 2021. The S&P index range for the week was 55.62 points. That
Last week, market movements centered around central bank policy expectations, with limited clear alternate influences. Comments from Fed officials and recent economic data suggest that Fed’s tightening cycle is not over yet. This pushed US Treasury yields higher, but stock market indexes remained relatively stable. The steady market sentiment slightly restrained Dollar’s rally momentum, leading
The recent softening of the gold price has supported demand for the yellow metal on the auspicious day of Akshaya Tritiya and jewellers have been witnessing steady footfalls since morning. “Since morning the footfalls have been good, mostly supported by the price coming down to around Rs 56,500 levels for 22 karat gold,” All India
Markets: S&P 500 flat at 4155 WTI crude oil up $0.43 to $77.80 US 10-year yields up 2.3 bps to 3.568% Gold down $22 to $1982 EUR leads, CAD lags The daily changes in the largest currencies on Friday were minimal but the day wasn’t without drama. In particular, the US PMI from S&P Global
Asian trading remains relatively subdued today, with the exception of Yen’s ongoing selloff. Meanwhile, Dollar attempts a weak recovery, while Euro and New Zealand Dollar are softer for now. The focus may shift away from the greenback this week, as significant data releases from other regions take center stage. Specifically, CPI data from the UK,
Buying gold in physical form is still the most preferred option for people during Akshaya Tritiya. If both purity and price are your consideration, investors could look to buy it keeping this in their minds. “Gold purchases are an inseparable part of Akshaya Tritiya celebrations for millions of Indians as a sign of prosperity, and
WTI crude oil settled on Friday up by 50 cents to $77.87. It’s a better end to a disappointing week for the oil bulls. It started with strong China retail sales data, included a US inventory drawdown and finished with an impressive US PMI from S&P Global but crude couldn’t get any traction. Technical selling
Japanese Yen is extending its rally in the early US session holding on to its gains and emerging as the second strongest currency for the week, just behind Swiss Franc. Despite persistently above-target inflation data, it remains unlikely that BoJ will make a shift in monetary policy next week. Additionally, the lack of volatility in
Spot gold has fetched Rs 8,000 per 10 gram or 15.53% returns in a year from a price of Rs 51,510 on the previous Akshaya Tritiya on May 3, 2022 to around Rs 59,510 now. By next Akshay Tritiya (February 3, 2024) we believe that gold could rise to Rs 67,000 per 10 gram in
The dollar is nudging higher now as we get into European trading, as the back and forth action among major currencies continues to play out. EUR/USD is down 0.2% to 1.0945 with GBP/USD down 0.3% to 1.2410, as the pound is not helped by the more sluggish UK retail sales data here. Elsewhere, AUD/USD is
Japanese Yen rose broadly in today’s Asian trading session following the release of CPI data, indicating inflation remains persistently above BoJ’s target. While it is still early for BoJ to make any changes to monetary policy, a case for a shift later this year is building. Meanwhile, Dollar and Euro are firmer in relatively quiet