The dollar was hot one day and cold the other, with the yen also observing something similar in a sharp fall in trading yesterday. Despite the dollar’s slump, USD/JPY pushed up to above 132.00 as buyers stuck in there and kept a defense of the 130.00 handle. So far today, there are some mixed moves
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Gold prices held steady on Thursday, hovering close to a near seven-month high scaled in the previous session, while market participants prepared for U.S. jobs data that could influence the Federal Reserve‘s policy trajectory. * Spot gold held its ground at $1,854.89 per ounce, as of 0042 GMT. Prices rose as much as 1.4% to
Aussie rises broadly today on news that China is considering to lift the ban on its coal partially. The move also takes Kiwi higher. On the other hand, Dollar is turning softer together with loonie. Despite yesterday’s rally attempt, the greenback is clearly hesitating ahead of today’s ISM manufacturing and FOMC minutes, as well as
Kevin McCarthy failed 3 times yesterday to secure enough votes (218) to become the Speaker of the House. The final tallies showed 19, 19 and then 20 defectors from his own party (votes were cast for Jim Jordan). McCarthy could only afford 4 defectors to secure the role of speaker given the make-up politically of
Gold prices extended their New Year rally to jump more than 1% and hit their highest since mid-June on Wednesday, helped by a weaker dollar and growing expectations of less aggressive interest rate hikes at upcoming Federal Reserve meetings. Spot gold jumped 1% to $1,857.71 per ounce by 1326 GMT, hitting its highest since June
It’s looks like a rather typical risk-on day today, with Dollar and Yen trading broadly lower, while Aussie leads commodity currencies higher. Major European indexes are firmly up while US futures also point to higher open. US and European benchmark yields are trading down again. Gold is extending recent rebound, but oil prices are falling
The pair threatened a break below 130.00 in Asia trading yesterday before the dollar took over in European and US trading, with a late retreat in risk sentiment also helping the greenback find steadier footing amid some minor pushback. But in the case of USD/JPY, it was all about keeping above the critical 130.00 mark
Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve’s December policy meeting. The Fed raised interest rates by 50 basis points (bps) in December after four consecutive increases of 75 bps each. If the Fed intensifies its rate hikes, that could
Yen rises broadly and strongly in Asian session today even though Japan remains on holiday. The strength is rather overwhelming, and with some near term resistance levels taken out, more upside is in favor for the near term. Dollar and European majors are worse performing ones, with Sterling having a slight edge only. Commodity currencies
New Delhi: Gold price in the national capital jumped Rs 506 to Rs 55,940 per 10 grams on Tuesday amid a rally in prices of the precious metal internationally, according to Securities. The yellow metal had touched Rs 55,434 per 10 grams in the previous trade. Silver also zoomed to Rs 1,374 to Rs 71,224
Dollar rises broadly in the early part of European session for now apparent reason. Risk sentiment is so far positive with rallies in major European indexes and US futures. US benchmark yield is actually falling. There is also no follow through buying in the greenback after lower than expected Germany inflation reading. Sustainability of Dollar’s
The pair is down 0.7% to 129.80 with the low earlier touching 129.50 as we get to the tail end of Asia trading. The more important thing to note about USD/JPY today is the attempted break under 130.00. If sellers can keep a daily close below the key psychological level, that will spell out a
Oil prices slid on Monday from their highest levels in a month on a stronger dollar and after the head of the International Monetary Fund warned of a tougher 2023 as major economies experience weakening activity. Brent crude futures dropped 98 cents, or 1.1%, to $84.93 a barrel by 0148 GMT while U.S. West Texas
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Gold prices rose Rs 154 to Rs 55,397 per 10 grams in the national capital on Monday amid a rise in prices of the precious metal internationally, according to Securities. The yellow metal had ended at Rs 55,243 per 10 grams in the previous trade. Silver, however, declined Rs 17 to Rs 69,831 per kilogram.
There are really only two camps in financial markets heading into 2023. The group that thinks the Fed has hiked too much and the economy is going into a tough recession The group that thinks the economy holds up and that high rates linger Put me in the second camp, but only in the US.
When it comes to optimal asset allocation, gold as an asset class has an important role to play. In India, gold is one asset class, largely held in physical format. According to some estimates, India is home to 27,000 tonnes of physical gold. But today, given the rapid financialization, there is a gradual shift seen
Apple is ending the year as the largest capitalized stock in the US. It closed the year with a market capitalization of $2.066T, and that makes it the only company above the $2T level. That is the good news. The not so good news is its peak end of day market capitalization reached $2.973T back