Dollar attempted to extend recovery today but once again lacked follow through momentum. The greenback is mildly supported by slight risk aversion, but lags behind Yen and Swiss Franc. For now, Australian Dollar remains the worst for the day on poor retail sales data, followed by Canadian and New Zealand Dollar. Euro and Sterling are
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The Newsquawk US Market Open: Sentiment soured despite a French inflation induced move higher, US ECI due Key Points: European bourses are lower across the board, Euro Stoxx 50 -0.6%, as the upside after France’s CPI fizzled out and reverted back to softer APAC performance. Stateside, futures are similarly pressured and have been in-fitting with
Gold price in the national capital declined Rs 105 to Rs 56,780 per 10 gram on Tuesday amid weak global cues, according to Securities. The precious metal had closed at Rs 56,885 per 10 gram in the previous trade. Silver also tumbled Rs 379 to Rs 68,418 per kg. “Spot gold prices in the Delhi
Yen and Dollar are both in recovery mode in Asian session, as investor continued to turn cautious ahead of the three central bank meetings of Fed, BoE and ECB later in the week. Asian markets shrugged of better than expected PMI data from China, which indicated a return to expansion in both manufacturing and non-manufacturing
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Oil prices extended losses on Monday as looming increases to interest rates by major central banks and signs of strong Russian exports offset rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the U.S. Federal Reserve to raise rates by 25 basis points on Wednesday, followed
Overall, the forex markets are pretty quiet today. Euro rises broadly despite poorer than expected German GDP. Yet, there is no breakout from familiar range. Swiss Franc is tracking Euro closely, followed by Dollar. Australian Dollar is so far the worst performer, without follow through downside momentum. Yen is following and then Canadian. Sterling and
Stocks are facing a rough time to start the new week and we are seeing S&P 500 futures fall lower by 43 points, down 1.1%, on the day currently. This is accompanied by a 1.4% drop in Nasdaq futures and a 0.8% drop in Dow futures as we continue to digest the market mood in
Gold prices fell by Rs 80 to Rs 56,880 per 10 grams in the national capital on Monday due to weak local demand, according to HDFC Securities. In the previous trade, the precious metal closed at Rs 56,960 per 10 grams. Silver also declined by Rs 180 to Rs 68,795 per kg from Rs 68,975
Sentiment in Asia was mixed today. Most markets have turned cautious ahead of the central bank bonanza this week. At the same time Hong Kong stocks tumble deeply, as led by Chinese tech giants. In the currency markets, Australia Dollar is currently leading commodity currencies lower. Yen is the slightly stronger one while European majors
This a Bloomberg (gated) headline after China’s week-=long Lunar New Year holiday: China Celebrated Lunar New Year Like COVID No Longer Exists Main points from the article: More than 300 million trips were made during the holiday, nearly 90% of pre-pandemic levels, according to the Ministry of Culture and Tourism. Tourist spots were swamped movie
Spot gold closed with a gain of nearly 0.1% in the week ending January 27. With US Q4 advance GDP, durable goods orders, weekly jobless claims, pending home sales, and preliminary S&P global US manufacturing and services PMI data for January coming in better than forecast, chances of soft landing of the US economy have
News is still murky but there are reports of explosions in several parts of Iran. Many of the reports are centered around Isfahan, which is a central city that’s reportedly home to some military plants, perhaps the ones supplying drones to Russia for the war in Ukraine. Here’s a purported video of one strike: MULTIPLE
With the Union Budget 2023-24 being just a couple of days away hence thought of sharing the agri industries’ expectations out of the budget. Now that the ban on seven agri-commodity futures contracts in India is more than a year, it is becoming difficult for the market participants to get a better price discovery mechanism
Danske Research discusses EUR/USD outlook and maintains a structural bearish bias over the coming months. “We note that in tandem with EUR/USD loosing steam Eurozone equities are beginning to underperform US peers – and also more generally that value is beginning to underperform growth. In our view, this is an important development to follow when
Gold prices were little changed on Tuesday, with investors awaiting U.S. economic data due this week that could impact the Federal Reserve’s policy path. FUNDAMENTALS * Spot gold was steady at $1,932.16 per ounce, as of 0020 GMT. * U.S. gold futures were up 0.2% at $1,932.50. * Investors’ focus is on the U.S. fourth
There is going to be some kind of reckoning around claims about ‘self-driving’ and robotaxis. Elon is currently in a lawsuit that’s in court right now about his ‘funding secured’ tweets and he’s a guy who has pushed the limits of truth. Consumer Reports this week ranked Tesla’s driver assistance features as 7th among car
Crude oil prices were steady on Tuesday as concerns about a global economic slowdown and expected build in U.S. oil inventories were offset by hopes of a fuel demand recovery from top importer China. Brent crude was up 12 cents, or 0.1%, at $88.31 a barrel by 1450 GMT. U.S. West Texas Intermediate (WTI) crude