Gold hovered near a three-month high on Tuesday, as a top U.S. central bank official’s comment raised hopes that the Federal Reserve would adopt a less aggressive approach on rate hikes, while a stronger dollar kept gains in check. FUNDAMENTALS * Spot gold was steady at $1,770.70 per ounce, as of 0122 GMT, after hitting
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Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen is clearly soft but selling hasn’t really take off yet. Commodity currencies are currently having a slight upper hand against
Bank of America Global Research goes long US vs EU real yields long to protect against crowded positioning and sticky US inflation. The US CPI print led to a sharp rally in rate markets: one 25bp rate hike was taken out of the front-end, 10y real yields rallied some 25bp too, with a 35bp rally
LONDON: OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the
Dollar continues to trade mildly higher into US session as consolidations extend. Upside momentum in the greenback is very weak so far. But such consolidations could now extend for a further while. Aussie and Loonie are the next firmest. Yen is currently the worst performer, followed by Kiwi and Euro, and Sterling is mixed. Still,
20% of reserves are in SHIB, reflecting what customers bought As a company, we have 1:1 reserves We do not lend to third parties, do not take counterparty risk There was a run on funds held in Crypto.com over the weekend after the exchange “mishandled” a $400 million Ethereum transaction. The timing of things couldn’t
NEW DELHI: Gold prices were trading flat on Monday, after a strong rise in the previous session, as the dollar and US bond yields edged higher following comments from a top US central banker who warned that the Fed was not softening its fight against inflation. Gold prices posted their biggest weekly gain since March
Dollar recovers mildly in quiet trading in Asia, digesting some of last week’s losses. Yen and Canadian Dollar are following the greenback, while Swiss Franc leads Europeans lower. But overall, major pairs and crosses are bounded inside Friday’s range, suggesting lack of activity. The economic calendar is light today and trading could remain subdued. But
Gold prices inched lower on Friday but were headed for a weekly gain as data pointed at signs of slowing inflation, lifting hopes that the U.S. Federal Reserve would scale back on aggressive rate hikes. FUNDAMENTALS * Spot gold was 0.1% down at $1,751.87 per ounce, as of 0048 GMT. It is up 4.2% for
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Soybean Indore prices have shown a whopping 8% rally after the removal of stock limits on Oil and Oilseed for wholesale dealers and big retail chains, which was announced on November 01, 2022, and long demanded by the millers, crushers, and associations. This Step has perked up bulk demand for soybean that is not able
The early communiqué from the G20 leaders meeting next week: Russia’s war in Ukraine has adversely impacted the global economy Many G 20 members have called on Russia to immediately end the war in Ukraine Many members strongly condemned Russia’s illegal, unjustifiable, and unprovoked war on of aggression against Ukraine The use or threat of
Spot gold prices in the international market have found support near $1600 an ounce and showing signs of reversal. The US midterm election, mixed US economic releases, and hints of a possible end of Russia-Ukraine war influenced the precious yellow metal. Negative investor sentiment due to a rapid rise in global interest rates, a strong
The set of lower than expected consumer inflation data from the US was music of joy for investors. Stocks surged while treasury yield tumbled, on expectation that Fed is ready to start slowing down tightening pace in December. Risk-on sentiment was broad-based with NASDAQ starting to realign with DOW, despite crypto rout. Dollar suffered steep,
The USD moved lower for the 2nd consecutive day and the 5th day in the last 6 trading days. The dollar index (DXY) is down nearly 4% this week with all the major currencies gaining vs the greenback. The decline is the largest % fall since March 2009. The better-than-expected CPI on Thursday was a
Gold prices were trading flat on Friday, but were set for their biggest weekly gain in more than eight months, as positive US data boosted hopes against the Fed’s aggressive rate hikes. US consumer prices rose less than expected in October, indicating that inflation was slowing, which raised hopes that the Fed will begin scaling
Consumer sentiment 54.7 vs. 59.5 Current conditions 57.8 vs. 64.0 estimate expectations 52.7 vs. 56.0 estimate inflation expectations 1 year 5.1% vs 5.0% last month inflation expectations 5 year 3.0% vs 2.9% last month Not a great report all the way around as inflation expectations tick higher while consumer sentiment falls. The US stocks are
Gold price in the national capital rallied Rs 294 to Rs 52,663 per 10 grams on Friday amid a rise in price of the metal in the international market, according to Securities. In the previous trade, the yellow metal had closed at Rs 52,369 per 10 grams. Silver also surged by Rs 638 to Rs