The GBPUSD has moved to a new session low at 1.23526. The move lower today has taken the price of the pair into a swing area between 1.2343 and 1.23603 (see red numbered circles). The low price has reached 1.23576. The price last tested that area last Monday and found support buyers. The move to
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Gold price rose by Rs 80 to Rs 60,660 per 10 gram in the national capital on Monday amid gains in rates of the precious metal internationally, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 60,580 per 10 gram. Silver also climbed Rs 260 to Rs 76,040 per
Multiple themes are unfolding in the markets today without any one taking center stage. Dollar is gaining strength, particularly against Yen, supported by an extended rebound in Treasury yields. Euro, on the other hand, is losing ground to the Pound after failing to break through a key near-term resistance level, which also weighs on the
Is the dollar back? Or was Friday’s rebound just a bit of a light reprieve? That is going to be a key question in trading this week. Fed pricing has definitely moved up a bit as seen here but it’s not enough to suggest a change in the outlook that the Fed will continue hiking
Oil prices edged up on Monday, supported by OPEC+’s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery by the world’s No. 2 oil consumer. Brent crude futures nudged 17 cents higher to $86.48 a barrel by 0144 GMT, while U.S. West Texas Intermediate crude was at
One of the great investment themes this decade is the green transition. It will involve incredible amounts of spending, government subsidies and (hopefully) progress. Ministers met in Sapporo, Japan and agreed to speed up renewable energy development and move toward a quicker phase-out of fossil fuels and plastics. Some had pushed for a 2030 phase
Gold prices held near one-year highs on Friday as recent U.S. economic data reinforced hopes that the Federal Reserve was close to the end of its rate-hiking cycle, which drove non-yielding bullion towards a second straight weekly rise. Spot gold was down 0.2% at $2,034.89 per ounce by 1108 GMT, with prices hovering below last
MUFG Research maintains a short USD/JPY exposure (spot ref: 134:70) in its TOTW portfolio with a target at 129.00, and a stop at 138.50. “We are maintaining a short USD/JPY trade idea. While there are risks of further increases in US short-term yields, we doubt USD/JPY will gain to the same extent of traction and
Spot gold closed with a loss of 0.20% on the week as the yellow metal closed at $2004.26. The US Dollar Index at 101.58 was nearly 0.45% lower, while US ten-year yields closed around 3.10% higher at 3.515%. The yellow metal tumbled 1.74% Friday. The University of Michigan’s one-year consumer inflation expectations served as a
The major US stock indices are closing the day lower but recovered nicely off of session lows. The final numbers are showing Dow industrial average -143.22 points or -0.42% at 33886.48. The Dow industrial average was down -298.85 points at session lows.. S&P index -8.58 points or -0.21% at 4137.63. The S&P was down -33.01
VoVL, the oil and gas exploration company of Videocon Industries, Thursday approved a conditional sale of two oil basins to Eneva S A and one to PetroRio, said people aware of the development. However, before selling the oil basins to the Brazilian gas operators, the lenders must give VoVL’s joint venture partner Bharat Petroleum Corp
Dollar fell to its lowest level of the year and breached a critical support, after being under pressure for most of the week. Yet, it staged a recovery towards the end, closing mixed only. Decelerating US inflation data was welcomed by risk market investors, but a lower terminal rate may not necessarily lead to an
Retail sales in the US were weaker than expectations but it was Fed’s Wallers comments which surprised the markets more. Waller said that recent data show Fed hasn’t made much progress on inflation , and followed that up with more hikes are needed. That was hikes…not another hike. So although the market has been tolerating
COMEX Gold prices started the week on a bearish note, as last week’s NFP data showed that US economy added 236k jobs in March with the unemployment rate dropping to 3.5%, underscoring Fed’s calls for further rate hikes and increasing the odds of 25 basis points in May FOMC meeting. The dollar index also edged
As disinflation process in the US picks up steam, Dollar continues its relentless descent, fueling the belief that Fed’s tightening cycle is close to its curtain call. This evolving sentiment has not only lifted US stocks overnight but also spilled over into Asian session, painting a positive picture for the markets. Despite its recent woes,
Societe Generale Research likes short USD/CAD to express USD weakness over the coming weeks. “Our preferred way to express dollar weakness is probably through USD/CAD, because that’s where long USD positioning is most evident. If this week’s labour report could persuade the RBA’s Philip Lowe to be a little less dovish, long AUD would be
New Delhi, The gold price jumped Rs 480 to touch a lifetime high of Rs 61,780 per 10 gram in the national capital on Friday amid a strong global trend, according to HDFC Securities. In the previous trade, the precious metal ended at Rs 61,300 per 10 grams. Silver also climbed Rs 410 to Rs
Dollar is attempting to rebound in early trading sessions, as market sentiment is shaken by disappointing US retail sales data. Furthermore, a top Fed official has cautioned that interest rates could remain high for a more extended period than previously anticipated by the market. Nevertheless, the greenback continues to be one of the week’s worst