Sterling drops sharply today even after BoE raised interest rate as expected. The trigger was the warning that of recession as high inflation hurts real incomes of household and profits of businesses. Aussie and Kiwi are also trading lower as yesterday’s risk-on rally fades. Dollar, on the other hand, is regaining some of the post
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Nothing like Fed day and a remarkable Champions League night put together, eh? The dollar is finding steadier footing after yesterday’s drop following the FOMC meeting decision, with Fed chair Powell having ruled out 75 bps rate hikes in subsequent meetings. There’s going to be a debate on peak hawkishness and I reckon that will
NEW DELHI: Gold prices climbed over a per cent on Thursday after Federal Reserve Chair Jerome Powell turned less hawkish over rate hikes. However, silver outperformed the yellow metal with a wide margin. Pritam Patnaik, Head – Commodities, Axis Securities said that gold prices rallied after the Fed event, primarily due to the fact that
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
Treasury Secretary Janet Yellen (and ex Fed Chairman) is speaking on economy saying: 1st quarter GDP was not a good read on the strength of the economy Consumer spending, business investment remains strong America is outperforming other countries Credit quality remains excellent, banks are well capitalized Inflation is too high, necessary to bring it down
New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
Strap yourselves in. It could be a wild ride once we get to the main event today. For now, there’s plenty of time to prepare for that. European trading today will be more of a placeholder as such, with little conviction to be really had – as has been the case for the week so
Gold prices edged lower on Wednesday, as an uptick in U.S. Treasury yields and an impending hike in interest rates by the U.S. Federal Reserve dented demand for zero-yield bullion. FUNDAMENTALS* Spot gold was down 0.1% at $1,865.31 per ounce, as of 0040 GMT. U.S. gold futures fell 0.2% to $1,866.10. * Benchmark U.S. 10-year
Australian Dollar rebounds broadly after the larger than expected rate hike by RBA, and takes up New Zealand Dollar too. But there is no clear follow through buying yet. Swiss Franc is currently the weakest one for the day, followed by Dollar and Yen. Apparently, overall development suggests steady risk sentiment, but that may not
Bank of America Global Research discusses its expectations for tomorrow’s FOMC policy meeting. “We expect a hawkish May FOMC meeting with the Fed delivering a bigger 50bp rate hike and announcing QT, starting in June…Chair Powell will likely reiterate the need to hike “expeditiously” & restore price stability to prolong the business cycle…It will be
Akshaya Tritiya, it is very important to see how the gold prices have moved and what to expect over the next few months. There are several factors which have contributed to gold’s movement in the past few years — pandemic being a major one. Now, the focus will be shifting towards geopolitics, inflationary concerns and
Dollar is turning softer entering into US session, as traders might start to lighten up position ahead tomorrow’s FOMC rate decision. Commodity currencies are also soft, except Aussie which is supported by RBA’s hawkish rate hike. Yet, there is no clear follow through buying in Aussie. European majors, on the other hand, are trying to
The market had more or less priced in a 15 bps rate hike by the RBA coming into the decision, so most players were prepared for a potential “go big or go home” moment in case the central bank did not hike or chose to hike by 40 bps instead. But the RBA surprised with
The occasion of Akshaya Tritiya, the birthday of goddess Annapurna, is considered auspicious for Hindus and is celebrated by buying gold. While prevailing price points or prospects will have little or no impact on traditionalists, who would purchase gold irrespective of these factors, it could also be a great opportunity for new-age investors to allocate
Dollar rises broadly again today but Asian session is a bit quiet with China and Hong Kong on holiday. Selling mainly concentrates on Aussie and Kiwi, with both breaking through last week’s lows. But Euro and Yen are not too far away. Sterling and Canadian are mixed for now. Three central banks will hike interest
Earlier today, China reported 7333 new covid cases, falling by 6.8% in the past 24 hours. That’s a good sign but there was also a big setback in Shanghai. The city reported zero cases outside of quarantine facilities in the previous two days, inspiring some hope of sustainably eased lockdowns. But today it reported 58
New Delhi: Gold in the national capital on Monday plunged Rs 745 to Rs 50,936 per 10 grams in line with the fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,681 per 10 grams. Silver also tumbled by Rs 1,228 to Rs 63,028