Gold prices rose by Rs 251 to Rs 51,056 per 10 grams in the national capital on Thursday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 50,805 per 10 grams. Silver also rallied by Rs 862 to Rs 54,934 per kg from Rs 54,072 per kg in the
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Euro dips broadly after ECB delivered a 75bps rate hike without additional hawkish surprise. But Aussie and Kiwi are the worst performers for today so far. Swiss Franc is rallying, thanks to buying against Euro, while Dollar is trading slightly firmer. Yen and Sterling are both consolidating this week’s losses. Technically, EUR/CHF’s break of 0.9696
The dollar is holding steady on the day after having seen a bit of a rejection at key levels in trading yesterday. EUR/USD moved up after contesting 0.9900 while GBP/USD held at the March 2020 lows near 1.1400 before climbing back up to above 1.1500 now. Meanwhile, USD/JPY came within a whisker of touching 145.00
Gold prices inched higher on Wednesday as a slight pullback in U.S. bond yields and bargain-hunting underpinned the market, although a stronger dollar and aggressive interest rate hike fears limited gains. Spot gold edged up 0.1% to $1,702.59 per ounce by 1207 GMT, having dropped to its lowest since Sept. 1 at $1,690.10. U.S. gold
Dollar is trading broadly higher in Asian session today, as supported by extended rally in US treasury yield. For the same reason, Yen tumbles broadly this week, and the decline is extending. The net result is that USD/JPY reached a new 24-year high and still looks unstoppable. Canadian Dollar is trading with a mixed tone
The EIA raises 2022 demand forecast by 20,000 bpd to +2.10mbpd y/y Cuts 2023 demand growth by 90k bpd to 1.97 mbpd y/y Sees 2022 US output of 11.79 mbpd up 540kbpd this year vs +610k prior Output to rise 840k bpd in 2023 to 12.63mbpd 2023 US demand to rise 350k vs 410k last
Oil tumbled to the lowest since January as a dollar surge and global demand concerns weigh on prices despite the threat of disruption to Russian supplies. US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90. A dollar gauge reached an all-time high on Wednesday, offering a macro headwind
Canadian Dollar is steady in early US session after BoC delivered 75bps rate hike and maintained hawkish bias. Dollar remains the strongest one for the week, but continues to pick up momentum against Euro. Yen is still the runaway loser, while selloff in Sterling is intensifying. Aussie and Kiwi are clearly weighed down by risk-off
It is still all about the dollar right now as we are seeing a further capitulation in the yen and a further decline in the yuan – both of which are fueling further gains in the greenback this week. The US currency is running hot and is higher across the board once more, threatening to
NEW DELHI: Gold prices fell sharply on Wednesday, thanks to rising bond yields and a firm US dollar. Further, economic data bolstered expectations of another rate hike by the US Fed. The dollar index was up, inching closer to the two-decade peak scaled in the previous session, making gold more expensive for overseas buyers. The
The downside breakout in EUR/USD is finally here as markets focus turns to meetings of RBA, BoC and ECB. Dollar is rising broadly, and risk-off sentiment takes Yen and Swiss Franc higher too. Euro is starting to reverse some of last week’s gain while Sterling is staying weak. Commodity currencies are currently mixed for now.
Credit Suisse discusses EUR/USD technical outlook and maintains a bearish bias in the near-term. “EURUSD has begun the week undergoing a concerted attempt to remove key support from the 78.6% retracement of the 2000/2008 bull trend at .9900 as energy supply pressures in Europe deteriorate further. We maintain our core bearish outlook and we look
Gold rose by Rs 107 to Rs 51,092 per 10 gram in the national capital on Tuesday amid depreciation in the rupee, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 50,985 per 10 gram. Silver also jumped by Rs 563 to Rs 54,639 per kg. The rupee depreciated
Yen’s selloff is the main theme today with USD/JPY hitting the highest level in 24 years, above 140 handle. Australian Dollar quickly turns softer after RBA delivered an expected rate hike. On the other hand, Sterling is getting a lift after Liz Truss is set to become the next UK Prime Minister while Euro remains
It looks like buyers are making a play and solidifying that break above 140.00. There is plenty of upside room to roam for the pair with the next key resistance region being closer to the psychological level near 145.00. As much as Japanese officials are trying to jawbone to slow down the pace of the
Gold prices rose on Tuesday, buoyed by a pullback in the dollar and safe-haven buying due to economic slowdown concerns, though prospects of aggressive rate hikes capped further gains. FUNDAMENTALS * Spot gold rose 0.5% to $1,718.21 per ounce, as of 0120 GMT. * U.S. gold futures gained 0.5% to $1,731.30. * The dollar index
Australian Dollar is trading mixed, slightly to the soft side, after RBA’s expected 50bps rate hike. There is basically no surprise out of the statement. Dollar is paring back some of recent gains while Yen is also soft. On the other hand, Sterling is leading Euro for a rebound while Canadian Dollar is also a
There’s a fundamental tension in the oil market. Governments and consumers got used to the idea of $60 oil. To them, it feels like the ‘right’ price of oil. But oil companies and oil-dependent countries can’t prosper (and in many cases survive) with $60 oil. That’s a mismatch that will need to be resolved and