Prior was 108.0 (revised to 107.8) Present situation 138.9 vs 149.6 prior Expectations 78.1 vs 80.3 prior Jobs hard-to-get 12.7% vs 11.4% prior This index had fallen to 95 in July so it’s not any kind of shocking decline and these numbers track gasoline prices closely. “Consumer confidence retreated in October, after advancing in August
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Gold prices in the national capital declined Rs 196 to reach Rs 50,702 per 10 grams on Tuesday, taking cues from weak global prices, according to Securities. The yellow metal had settled at Rs 50,898 per 10 grams on Monday. Similarly, the COMEX spot price of gold marginally fell to USD 1,643.2 per ounce compared
It’s an extremely slow day in the markets. Sterling appears to be a touch stronger after Rishi Sunak finally become the third UK Prime Minister in Two months, accepting King Charles’s request to form a government. Meanwhile, Swiss Franc is slightly on the softer side. But overall, most major crosses and pairs are staying range
The People’s Bank of China set the onshore yuan reference rate a mammoth 400+ points lower (i.e. higher for USD/CNY) today, to the weakest for the onshore yuan since February of 2008. Offshore yuan responded by dropping to its lowest ever (i.e. highest on record for USD/CNH) around 7.3650. In addition, the PBOC and the
SINGAPORE – Oil prices fell on Monday after China released much-delayed trade data which showed that demand in the world’s largest crude importer remained lacklustre in September as strict COVID-19 policy and fuel export curbs depress consumption. Brent crude futures for December settlement slid 40 cents, or 0.4%, to $93.10 a barrel by 0340 GMT
Sterling is the better performer in Asian session today. It’s supported by news that former Prime Minister Boris Johnson withdrew from party leadership contest on Sunday, even with enough support to make the final ballot. The development left business friendly Rishi Sunak, a former Finance Minister, as a favorite to replace outgoing Prime Minister Liz
The conspiratorial-minded traders on Friday noted what seemed to be a coordinated communication strategy from the Fed to tamper down on rate hike expectations. The response was a bid in stocks and bonds. The thinking among that crowd was that something bad was happening in the bond market — similar to what happened in the
Gold prices slipped on Monday, having risen 1.8% in the previous session, as the U.S. dollar firmed, although faint hopes that the U.S. Federal Reserve will adopt a less aggressive policy stance later in the year cushioned further decline. Spot gold fell 0.1% to $1,654.68 per ounce, as of 0330 GMT. Prices marked their biggest
Overall market sentiment is mixed today. European stocks are trading up together with US futures. But heavy selling was seen in Hong Kong and China stocks earlier. Commodity currencies appear to be weighed down by the negative side of the picture, while Dollar is firmer with European majors. Sterling is so far the better performer
The big news out of the Asian timezone today was the Bank of Japan intervention to sell USD/JPY. Estimates of the amount of selling ranged from USD30bn to USD50bn. The BoJ has to sell its foreign reserves of USD for such intervention. USD/JPY, and yen crosses, were smashed lower, with USD/JPY dropping 400 points from
NEW DELHI: Tracking global cues, gold prices continued to fall on Friday and were headed for a straight second weekly loss. The yellow metal breached the Rs 50,000 mark despite the festive season in India. US Treasury yields held near multi-year highs following strong labour market data and hawkish comments from Federal Reserve officials, dampening
By Themla Gower The 20th National Congress of the Chinese Communist Party has now ended. Here are the top ten public policy takeaways from this rare event. 1) COVID containment: until a stronger, domestically-produced vaccine is produced, nothing fundamentally changes2) Economic growth targets: becoming #1 in the world is now considered not necessary nor advisable3)
As the Diwali festival approaches, millions of people in India and around the world prepare to celebrate. The vibrant festival is noted for its god worship, traditional gifts, lighting, decorations, diyas, sweets, and so on. Goddess Lakshmi, the Hindu goddess of fortune and prosperity, is associated with gold and is considered a vital aspect of
Chinese President Xi Jinping wrapped up the People’s Congress with a power move that vanquished his rivals and humiliated his predecessor. The moves leave no doubt that he personally consolidated power at the event, which takes place every 5 years. It was already widely expected that he would be confirmed for another 5-year term —
Negative investor sentiment due to a rapid rise in global interest rates, a strong US dollar, and higher bond yields, gold lost its glitter throughout this year. London spot gold prices fell for the seventh consecutive month in October, shedding more than 10% since January. Rising interest rates are typically an obstacle for gold as
The Bank of Canada decision next Wednesday kicks off a blockbuster 10-day stretch of central bank decisions that will set the table for the remainder of the year. Ahead of that, the Canadian dollar is trying to recover and the US dollar is broadly retreating. That comes after the Fed’s Daly reiterated that 4.50-5.00% is
Buying gold is both prestigious and auspicious for Indians. Gold sales grow throughout festivals and wedding seasons. The best time to buy gold, however, is during Makar Sankranti, Akshaya Tritiya, Dussehra, Dhanteras, and Diwali. Dhanteras falls on the 13th day of the Hindu lunar calendar, marking the first day of the five-day Diwali festival. According
It’s a week of drama. In the UK, Liz Truss became the shortest-serving Prime Minister as political chaos continued, and the race for the next PM started immediately. In the US, stocks surged on Friday on talks that Fed could start slowing its rate hikes in December. Meanwhile, in Japan, the government waited patiently until