The peak of the optimism today came right at the European open and since then, we are seeing a bit of a hiccup as stocks are unable to carry forward the slightly better mood from Asia. S&P 500 futures are down 4 points, or 0.1%, currently: Meanwhile, the bank index in Europe has also turned
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Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal’s appeal . FUNDAMENTALS * Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. U.S. gold futures rose 0.3%
The financial markets are sending mixed messages today, with risk sentiment seemingly improving as European indexes and US futures trade higher. US and German 10-year yields are also recovering. However, the currency markets paint a different picture, with Swiss Franc leading as the best performer, followed by Canadian Dollar and Sterling. In contrast, Yen is
A quiet Monday on the data front, looked for clues from the banking sector. The turmoil of last week was replaced with a relative calm. First Citizens Bancshare purchased some of Silicone Valley Bank’s mortgage assets. That helped to push up the shares of First Republic and other regional banks. FRC shares rose $1.46 or
Oil prices rose on Monday after a halt to oil exports from Iraqi Kurdistan via Turkey and moves to contain a potential banking crisis that could have hit demand for crude. Brent crude futures were up $1.18, or 1.6%, at $76.17 a barrel by 1426 GMT. West Texas Intermediate U.S. crude rose $1.28, or 1.9%,
The forex markets have been relatively quiet during today’s Asian session, with currency pairs staying within Friday’s range. Major stock indexes are also demonstrating mixed performance in a tight range. Inflation data from the Eurozone and the US will be closely monitored this week. Although these figures are crucial in determining the future rate path,
Amid the whole banking turmoil, gold benefited on two fronts as traders piled into traditional safety bets and also the fact that the whole saga raised doubts about the appetite for central banks to hike rates further in the tightening cycle. That saw gold bulls rally hard but ultimately, the jump failed to firmly get
Gold prices edged lower on Monday as the US dollar firmed and dust around the global banking crisis settled. The yellow metal futures were trading in the red on MCX and Comex around 9:30 IST. On MCX, the April Gold futures were trading at Rs 59,105 per 10 grams, down Rs 168 or 0.28% while
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The benchmark London spot gold broke through the $2,000 an ounce level last week, its highest since March 2022. In the domestic futures market, prices recuperated to a fresh all-time high of Rs 60,455 per ten grams, gaining more than 7% since January this year. There is a long-standing relationship between the economic crisis and
Some late day buying is pushing the major indices to new highs for the day. They are also moving into positive territory. A snapshot of the market currently shows: Dow industrial average up 119 points or 0.37% at 32223.86 S&P index of 20.29 points or 0.51% at 3969 NASDAQ index up 34.49 points or 0.29%
The tumultuous bygone week ending March 24 saw gold settling down with a loss of nearly 0.50% at $1978.61, while the US Dollar Index slipped around 0.55% to end the week at 103.11 as the 10-year US yields at 3.373% were approximately down 1.70% on the week. 2-year US yields closed around 2.2% lower at
Last week’s financial landscape was far from clear-cut. While it wasn’t a definitive risk-on market, investors seemed reluctant to abandon US shares completely. The markets found themselves mired in confusion, struggling to make sense of the relentless barrage of headlines detailing bank crises that began with Silicon Valley Bank, then spread to First Republic, Credit
Markets: Gold down $14 to $1979 US 10-year yield down 2.8 bps to 3.37% WTI crude oil down 64 cents to $69.32 S&P 500 up 22 points to 3971. On the week up 1.4% JPY leads, NZD lags The mood was poor at the start of North American trade as banking worries — particularly Deutsche
Physical gold dealers in India were forced to offer the steepest discounts in over a year to lure buyers put off by a record surge in local prices this week, while the banking crisis fueled steady demand in top buyer China. “Demand has stalled because of the spike in prices. Retail buyers and jewellers were
The major US stock indices are closing higher for the day, and higher for the week. For the trading year, the Dow industrial average is still down on the year but the S&P and the NASDAQ index are positive A snapshot of the closing levels for the day shows: Dow industrial average up 132.28 points
COMEX gold prices are trading near a one-year high of $2014.9 per troy ounce notched in the previous week. The yellow metal started the week on a negative note, as the SNB brokered UBS buyout of Credit Suisse calmed markets and improved the risk sentiments. There were also reports that the US officials were studying
The European session has been marked by a resurgence of market turbulence as Deutsche Bank shares nosedive, fueled by a surge in its credit default swaps. This development has had a domino effect on major European indexes and US futures, both experiencing significant drops. Investors are seeking refuge in bonds, driving the US 10-year yield