The USD had another whippy day with the greenback moving lower, then up and then back down again. Overall, the dollar is ending higher vs the GBP, and CHF, lower vs the JPY, NZD, AUD and EUR and unchanged vs the CAD (ahead of the BOC rate decision tomorrow). Economically, the S&P/manufacturing PMI came in
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Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market. Spot gold fell 0.2% to $1,927.35 per ounce by 10:20 a.m. ET (1520 GMT), after hitting its highest since
Sterling falls broadly today and poor PMI data indicates that recession is continuing in the UK. Comparatively, Eurozone PMIs argue that it might have escaped recession. For now, the Pound is the worst performer for the day, followed by Swiss Franc, and then Aussie. Yen is the strongest, trying to recover again, followed by Canadian
European indices opened with slight gains but have given that all back now as the early optimism fades. US futures have also moved lower and while I want to say that the PMI data today had a helping hand in that, I can only argue that the UK report was poorer than expected. The French
NEW DELHI: Having made five consecutive weekly gains on hopes of slower rate hikes by the US Federal Reserve, gold prices today hit a fresh all-time record high in India. On , February gold futures rose to Rs 57,099 per 10 grams. The yellow metal, treated as a haven asset during uncertain times, is up
Dollar softens mildly again in rather subdued trading in Asia. Many markets are still on Lunar New Year holiday. For now, Australia Dollar is the relatively stronger one for the week, followed by New Zealander. Euro is maintaining some of this week’s gains, but there is no follow through buying. Yen is the weakest one
The major US stock indices rallied for the 2nd consecutive day as traders hope that inflation will continue to move lower, allowing the Fed to take the foot off the brake sooner. The Nasdaq and the S&P reached the highest level in 6 weeks (going back to December 13/14 2022. Moreover, the Nasdaq rose by
Gold price fell Rs 40 to Rs 56,840 per 10 grams in the national capital on Monday amid a fall in rates of precious metal globally, according to Securities. In the previous trade, the yellow metal had touched Rs 56,880 per 10 grams. Silver also declined Rs 85 to Rs 68,980 per kilogram. “Spot gold
Dollar rebounds broadly in early US session, following benchmark treasury yields higher. But at the time of writing, Aussie is the strongest as supported by positive risk sentiment. Euro follows as it pares back some gains despite more hawkish ECB comments and an upbeat Bundesbank monthly report. Yen is currently the worst performer for the
UPCOMING EVENTS: Tuesday: S&P Global US PMIs Wednesday: BoC Policy Announcement. Thursday: US Jobless Claims. Friday: US PCE. Last week the risk sentiment was hit by a big miss in US Retail Sales data, which showed also a lower revision to the previous numbers. We saw the classic risk off response in different asset classes:
Exchange-traded derivatives help multiple stakeholders – farmers, producers, processors, miners, value chain participants, smelters- in the economy. Commodity futures and options help farmers and other producers to ‘lock in’ the prices of their future output or inputs, therefore, helping to hedge against the volatility in commodity prices. Commodity derivatives help farmers take informed decisions on
Euro opens the week higher as support by hawkish comments from ECB officials over the weekend. Overall, it’s more likely for ECB to deliver at two more 50bps hike before slowing down, despite some market speculations. Dollar and Yen turned softer again. Trading is subdued, nevertheless, with many Asian markets closed on Lunar New Year
Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week! On a Monday morning, market liquidity is very thin until it improves as more Asian centres come online. This Monday is a little different of course as many Asia centres are out today for the Lunar
Gold is eyeing the $1950-$1960 band on a confluence of supporting factors aiding the continued sharp rise in gold prices. Gold continues to show strength as the metal finished the week higher, supported by a weaker Dollar and softer yields as US data stoke recession concerns. Ten-year yields finished the week nearly 0.5% lower as
What a minefield in USD/JPY this week. The BOJ caught many in the market wrong-footed and doubled down on yield-curve control, leading to a sharp +300 pip rally but that lasted only a few hours before completely reversing as fresh shorts piled in. Then, even with global yields falling further, USD/JPY refused to continued sliding
Inflow in gold exchange traded funds (ETFs) plunged by 90 per cent to Rs 459 crore in 2022 due to rising prices of yellow metal, increasing interest rate structure coupled with inflationary pressures. This was way lower than an inflow of Rs 4,814 crore seen in the segment during 2021 and Rs 6,657 crore in
The US stocks have moved to the upside and all the major indices are in positive terrritory. Dow is up 40 points or 0.13% S&P is up 22.6 points or 0.58% Nasdaq is up 119 points or 1.10% Netflix is helping the tone with a gain of 7% after better earnings after the close yesterday.
Gold prices held steady on Friday but were on track for a fifth straight weekly gain, as a weaker dollar and hopes of slower U.S. interest rate hikes boosted safe-haven bullion’s appeal. FUNDAMENTALS * Spot gold was little changed at $1,930.59 per ounce, as of 0054 GMT. Prices rose 0.5% this week. * U.S. gold