New Delhi: The government on Saturday brought down the effective duty on crude palm oil import to 5.5 per cent from 8.25 per cent earlier, a move which will help control cooking oil prices and support domestic processing companies. Basic customs duty is already nil on crude palm oil (CPO) and now the Central Board
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More reports on the details of Biden’s call with world leaders are leaking and it appears he did tell them that he believes Putin has given the order to invade. The yen is edging back to the highs of the day and stocks are at fresh lows with the S&P 500 down 90 points to
New Delhi: Gold in the national capital on Friday gained marginally by Rs 22 to Rs 48,669 per 10 grams in line with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 48,647 per 10 grams. Silver in contrast, declined by Rs 626 to
War or rate hikes, it’s very clear that investors are worried about the former. Sentiment took a deep dive on Friday on worries over an imminent Russian invasion of Ukraine. WTI crude oil surged to new 7-year high while Gold also soared before weekly close, while stocks took a heavy beating. In the background, markets
Gold has been consolidating around $1800 for more than a year but there’s a series of higher lows that’s been building since the start of 2021 and now it’s threatening to break out of the long-term wedge. It’s way too early to say today’s $35 rally and push through the top is a breakout but
Oil rose for an eighth straight week as tensions between Ukraine and Russia heightened concern about tight global supplies. The global benchmark rose 1.3% this week, touching $95 a barrel Friday before paring gains. National Security Advisor Jake Sullivan said Friday that the U.S. believes Russia could take offensive military action or attempt to spark
Much volatility was seen in the markets overnight, but as dusts settled, risk-off sentiment dominated. Fed funds futures are now pricing in 94.7% chance of a 50bps rate hike by Fed after the strong CPI reading, comparing to just 33.7% a week ago. Dollar is trading generally higher in Asia, followed by Yen. Aussie is
Markets: Gold up $34 to $1861 US 10-year yields down 10 bps to 1.93% WTI crude up $3.79 to $93.67 S&P 500 down 70 points to 4433 JPY leads, AUD lags That market was continuing to digest higher US inflation and the scope for a 50 basis point hike in March in the early part
Even as silver future prices crashed by Rs 900 on Friday, brokerage firm Motilal Oswal said it believes this is just a blip and the white metal could spike as much as Rs 80,000 in the next 12-15 months. This means a potential upside of 28 per cent from current levels and if comes true
Sterling rises broadly today after better than expected GDP data, even though upside momentum is weak so far. Dollar is paring some of the post-CPI gains as over sentiment, while weak, seems to be stabilizing. As for the week, Yen is the worst performing one, followed by Euro and Dollar. Aussie is the strongest one,
Bullard was the key trigger for the turnaround in what was a wild trading session yesterday, after the release of the US consumer inflation report – which showed inflation at the highest in 40 years. The dollar was higher on the release then tumbled heavily before reversing all of that and more into trading today.
NEW DELHI: Gold prices slipped on Friday after a higher than expected inflation reading and rate hike signals from Fed ramped up odds for a hefty interest rate hike as soon as next month. A strong dollar and rise in bond yields also dented the gold prices. Gold futures on MCX were trading down by
Dollar rebounds broadly in early US session after stronger than expected CPI data. Treasury yields also surged with 10-year yield marching higher. 2% level for 10-year yield is getting closer. Stocks on the other hand, take some beating on concerns of a more aggressive Fed. For now, selloff is concentrating on Yen and Swiss Franc.
The US CPI data today was another shocker as the YoY rate moved from 7% last month to 7.5% this month. That topped the 7.3% estimate. The ex food and energy core measure also was higher than expected at 6.0% (est 5.9%). That was up from 5.5% last month. The year on year gain was
(This story originally appeared in on Feb 10, 2022) CHENNAI: Gold exchange-traded funds (ETFs) saw the highest-ever repurchase or redemption of Rs 671 crore in January 2022, leading to an outflow of Rs 451 crore. This was primarily driven by rising 10-year Indian government bond yields and expectations of a more hawkish US Fed stance.
While US stocks staged a strong rally overnight, Asian markets turned mixed. Investors are holding their bets ahead of US CPI data. Australian Dollar remains the strongest one for the week, followed by Kiwi. Loonie also regained some ground with help from the stabilization in oil prices. On the other hand, Yen is currently the
That’s a decent move in European morning trade, considering that there has been no notable headlines to really work with. In my view, the light nudge higher here is more technical-related as price bounces off the 200-hour moving average: Overall, the dollar is trading more mixed across the board and I don’t see much of
NEW DELHI: Gold prices were trading flat, held in a tight range on Thursday. Investors awaited U.S. inflation data that could offer fresh clues about the pace of the Federal Reserve’s monetary policy tightening. Russia has increased military capabilities along its border with Ukraine and in Belarus, according to the Pentagon. Ukraine believes there is