Talks continued over the weekend in Vienna aimed at reviving Tehran’s 2015 nuclear deal with world powers. Iranian state media reported comments from Iran’s foreign minister Hossein Amirabdollahian, that he “stressed the need for a realistic U.S. response to Iran’s constructive proposals on various issues to make the deal work” Talks have been ongoing for
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Gold prices firmed on Friday to hover near a one-month high, as a retreat in dollar and U.S. Treasury yields and growing recession fears boosted demand, keeping the safe-haven metal on track for its third straight weekly rise. FUNDAMENTALS * Spot gold was up 0.2% at $1,793.88 per ounce, as of 0054 GMT, after hitting
The major stock indices are closing the day with mixed results: Dow industrial average rose 76.63 points or 0.23% at 32803.48 S&P index fell -6.75 points at -0.16% at 4145.18 NASDAQ index fell -63.02 points at -0.50% at 12657.56 Russell 2000 gain 15.36 points or 0.81% at 1921.82 The NASDAQ index snapped a two day
The strong set of job market data seemed to have cleared much concern over recession in the US, and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on Fed continuing with the current pace of tightening beyond neutral. Stocks markets were resiliently firm despite that and look set
Gold in the national capital on Friday was marginally down by Rs 9 to Rs 52,592 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,601 per 10 grams in the previous trade. Silver also declined by Rs 487 to Rs 58,477 per kg from Rs 58,964 per kg in
In a market environment where bad news is good news, 528K new jobs (vs 250K estimate), unemployment rate of 3.5% vs. 3.6% estimate, average hourly earnings 0.5% vs. 0.3% estimate (and a revision to the priro month to 0.4% from 0.3%), average workweek 34.6% vs. 34.5% estimates, that is not exactly bad news. In fact
Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same times US futures tumble, apparently on expectations Fed’s tightening pace will continue with such healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break through
NEW DELHI: Gold prices were trading flat, steady near a one-month high on Friday, thanks to a fall in the US dollar and weak US treasury yields. Traders awaited the US jobs data amid the growing recession fears boosted safe-haven demand and kept bullion on track for its third straight weekly rise. The market’s focus
For those following the oil market closely, it is hard to believe that there is such a compelling argument that oil prices should move lower significantly. Yet, markets are acting that way based on data which may not actually be credible. Adam provided a very comprehensive overview on that yesterday here. It is a must
The currency markets are quiet overall as focus now turns to US job data. The post BoE selloff in Sterling didn’t last long. Meanwhile, Dollar is still range bound against Euro and Yen. The greenback’s rally attempt against Swiss Franc also faltered rather quickly. Commodity currencies are steady. Most major pairs and crosses are stuck
NEW DELHI: Gold prices moved higher on Thursday, despite a rise in the US dollar. A pullback in the US Treasury yields also added to the bullion’s appeal. After a couple of strong economic readings this week, the focus now shifts to US jobs data due on Friday that could offer more clarity on Fed’s
Sterling falls broadly today after BoE hikes by 50bps but indicates that a prolonged recession will start in the UK in Q4. But the selloff in the Pound is not helping Euro and Swiss Franc much, as both are mixed. Dollar and Canadian are following Sterling as next weakest. Meanwhile, Yen is leading Aussie and
A piece in the South China Morning Post recapping a speech from Chinese Premier Li Keqiang to the World Economic Forum (WEF), which was posted online last month. signalled a higher tolerance for inflation this year Li indicated that China’s inflation rate could reach 3.5 per cent this year, a broader range than the target
Gold in the national capital on Thursday gained Rs 487 to Rs 52,566 per 10 grams amid a rise in international precious metal prices along with rupee depreciation, according to Securities. The yellow metal had closed at Rs 52,079 per 10 grams in the previous trade. Silver also rose by Rs 426 to Rs 58,806
Reuters is reporting on the matter, citing sources familiar with the thinking of the bloc. It is said that Saudi Arabia and UAE could pump significantly more but would only do so if a supply crisis worsened this winter. One of the sources said that: “With possibly no gas in Europe this winter, with a
Aussie and Kiwi firm up mildly in Asian session, following the rebound in risk markets. But overall, the currency markets are rather quiet, with major pairs and crosses stuck inside last week’s range. Traders are probably holding their bets for now, and await today’s BoE rate decision. Another big event of US non-farm payroll employment
New Delhi: Gold prices were trading flat on Wednesday despite a strong trend seen in the international market. A pullback in the dollar and Sino-US tensions helped counter the pressure from a rise in US Treasury yields. However, hawkish comments from the Federal Reserve officials on interest rate hikes weighed on the sentiments. A trio
The Fed raised rates last Wednesday where the Fed chairs comments were interpretted that the Fed would be more data depedent going forward. The market interpreted the comment to mean if July inflation is lower, it as an open road ahead. Traders started to push yields lower with the 10 year moving to 2.516% (from