NEW DELHI: Gold prices tumbled on Thursday, to hit nearly their lowest in a year ahead of rake hike prospects by major central banks. The European Central Bank is set to raise interest rates for the first time in 11 years on Thursday, with a bigger-than-expected move seen as increasingly likely as policymakers fear losing
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The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday’s range. BoJ’s decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed, or a bolder 50bps hike. As
There is a higher closer for the major indices for the 2nd consecutive day with the Nasdaq leading the way also for the 2nd day in a row. The Dow which moved over 700 points yesterday but only rose by 48 points today. The S&P also had a modest rise relative to the 105.84 rise
Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to Securities. In the previous trade, the precious metal finished at Rs 50,182 per 10 grams. Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. “Spot gold
Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for the week so far, as it’s
A massive heatwave and the showdown in the Conservative party may be stealing the headlines in the UK but in financial markets, the focus today is on the June consumer inflation report. After printing above 9% in May, we are expected to see annual inflation tick higher to 9.3% last month in the UK. As
NEW DELHI: Gold prices were trading almost flat on Wednesday as the weakness in the dollar was balanced by rate-hike fears by the US Fed next week. The yellow metal failed to make the most of a pullback in the dollar, with demand for bullion being restrained amid prospects of aggressive monetary policies and rising
New Zealand and Australian Dollar trade broadly higher on the back on improving market sentiment. Asia indexes are tracking US stocks higher. On the other hand, Dollar continues to extend its near term correction, in particular against commodity currencies. Yen is also under some pressure. Meanwhile, European majors are mixed for now, waiting for UK
The ghost from Netflix earnings past is on the minds of traders ahead of their earnings after the close today. Recall after earnings last quarter where subscriptions came in much worse than expected, the price closed down over 35% the next trading day. The price moved from $348.28 to $212.45. Those declines continued to the
Gold in the national capital on Tuesday rose by Rs 6 to Rs 50,290 per 10 grams amid firm global trends, according to Securities. In the previous trade, the yellow metal settled at Rs 50,284 per 10 grams. Silver, however, dipped by Rs 137 to Rs 55,539 per kg from Rs 55,676 per kg in
Dollar’s correction continues today and falls broadly. US stocks point to stronger extended rebound. Yen is also weak. Kiwi is currently the strongest, followed by Australian. Euro and Swiss Franc are next. In particular, Euro is lifted by reports that ECB would consider both a 25bps and 50bps hike this Thursday. Sterling also follows Euro
The jump in the euro comes alongside a push higher in European bond yields, with 2-year German bund yields now up 6 bps to 0.58%. The euro is now trading up 0.8% against the dollar to 1.0220, its highest level in nearly two weeks. From a technical perspective, the break higher is encouraging if buyers
NEW DELHI: Gold prices retreated mildly on Tuesday on the back of a strong dollar. However, the yellow metal was range bound as investors refrained from making big bets over Fed’s meet outcome. Market participants are now anticipating a 75-basis-point hike by the Fed at its July 26-27 meeting. The European Central Bank and the
Australian Dollar trades mildly higher in Asian session, after RBA minutes affirmed that further tightening is underway. New Zealand is also supported by somewhat steady risk sentiment. Canadian Dollar is also limited after WTI crude oil rebounded and regained 100 handle. Euro and Dollar are the softer ones for now, followed by Sterling, which awaits
Earlier today, Bank of America and Goldman Sachs announced earnings and beat expectations. After opening higher and trading to a high of $33.38, the price of Bank of America has moved back down and trades down $0.04 or -0.12% at $32.17. For Goldman Sachs, they traded as high as $311.25 but have since backed off
LONDON -Oil prices extended gains on Monday, boosted by a weaker dollar and tight supplies as concerns over gas supply from Russia mounted, offsetting demand fears brought on by a possible recession and China lockdowns. Brent crude futures for September settlement rose by $4.41, or 4.26%, to $105.65 a barrel by 1235 GMT, having gained
Dollar, Yen and Swiss Franc are both under some selling pressure today, as overall risk sentiment improved. Sterling is currently the winner and Euro is not too far behind. Canadian Dollar leads commodity currencies, as Kiwi is somewhat lagging despite strong inflation data. The picture will depend on whether stock markets in the US could
Given little else for the market to work with, we are seeing a more straightforward risk positive session with market participants also keeping the focus on the softer dollar from the end of last week. European equities are holding higher with S&P 500 futures now up 0.7% on the day. That is seeing the dollar