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Next week, not only gold investors but all the financial market participants are likely to exercise caution ahead of three key events: the Federal Reserve’s monetary policy decision due on the 14th, the European Central Bank’s Monetary policy decision due on the 15th, and Bank of England’s monetary policy decision due on 15th. In addition,
maize (corn) prices are trading higher by about 34% year-on-year at Rs 2,225 per quintal (ex-warehouse Chhindwara). Due to higher prices, the government is considering curbs on the export of maize. As per market sources, the Ministry of Food Processing Industry has written to the Commerce Ministry proposing a ban after starch manufacturers raised the
The Australian dollar has been stubbornly strong in the past few weeks and I suspect that’s a sign of money rotating into Australia on China reopening. The outlook for coal, iron ore and base metals is improving with China getting back in the mix and the RBA moving to the sidelines will stabilize Aussie housing.
An outage on the largest oil pipeline to the United States from Canada could affect inventories at a key U.S. storage hub and cut crude supplies to two oil refining centers, analysts and traders said on Friday. TC Energy’s Keystone pipeline ferries about 600,000 barrels of Canadian crude per day (bpd) to the United States.
There have been rumors of Janet Yellen leaving the White House for a year now but with the midterms done, maybe it actually happens this time. Fox Business’ Charlie Gasparino reports that one of the front-runners if she ‘leaves’ is Bank of America CEO Brian Moynihan. I don’t think he would have any trouble getting
The most volatile year ever for natural gas futures has taken another sharp turn recently. A forecast of unexpected warm weather and reports of a delay in restarting a big LNG export facility in the US was among the major driving factors. However, the commodity was one of the best-performing asset classes in 2022. A
Trading in the markets was rather subdued last week. Canadian Dollar was an exception, as it was pressured by falling oil price and a dovish BoC hike. The Loonie just closed marginally higher against Yen, which was also soft. On the other hand, Swiss Franc was the best performer, followed by the resilient Aussie and
Markets: Gold up $6.50 to $1795 US 10-year yields up 9.6 bps to 3.59% WTI crude oil flat at $71.45 after touching $70.06 S&P 500 down 0.7% NZD leads, CAD lags The dollar tried to rally on a hot PPI number for the second month in a row but the skeptics one the day as
Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas
Dollar is trying to recover in early US session, with help from 10-year yield which reclaims 3.5% handle. Yet again there is now clear follow through buying. News flow is slow today, without much surprise from US PPI data. As Fed is already in a blackout period, there is no comment from US monetary policy
Forex news for Europe/UK trading on Friday, 9 December 2022 It was a relatively sedate session, traders are looking ahead to a busy central bank driven week coming up next week with the Fed, Bank of England and European Central Bank. Even today there was a focus on US data with November PPI and December
New Delhi: Gold prices were trading higher on Friday, supported by the weakness in the US dollar ahead of key inflation data and the US Federal Reserve meeting next week. Most investors expect the Fed to deliver a 50-basis point rate hike at its final meeting of 2022 scheduled on December 13-14. Market participants also
Dollar is again under some selling pressure in Asian session and looks set to resume recent decline against European majors. Yet, with trading subdued, it’s doubtful whether selloff in the greenback would sustain. Traders would more likely hold off large bets until next week’s FOMC rate decision and economic projections. As for the week, Yen
Boeing and United Airlines are to make a “historic announcement” on Tuesday. Using the word “historic” certainly catches your attention. Boeing shares closed $179. It is currently trading in after-hours trading at $178.64. Meanwhile United Airlines closed at $42.80 and is currently trading at $42.85. Boeing shares are up from a September 30 low of
Gold prices rose Rs 211 to Rs 54,270 per 10 grams in the national capital on Thursday, amid gains in the precious metal in overseas market, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 54,059 per 10 grams. Silver also jumped Rs 593 per kg to Rs 66,662 per
Australia Dollar leads commodity currencies higher, in otherwise still very quiet markets today. Prospect of further easing of restrictions is probably giving some industrial metals and oil prices a lift. But the positive sentiment is not much reflected in the global stock markets. Dollar is back under selling pressure, followed by Yen. European majors also
All eyes are on the central bank bonanza next week and with the Fed in focus, the US consumer price inflation report on Tuesday is going to be a massive one before the FOMC meeting on Wednesday. At the stage we are at, inflation data is essentially the new non-farm payrolls. But before we get