NEW DELHI: Gold prices rose on Wednesday, going towards a three-week high scaled in the previous session, helped by a drop in US Treasury yields as investors awaited the minutes of the US Fed‘s June meeting for clues on policy outlook. The yellow metals posted mild gains in domestic markets. All eyes are set on
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As widely anticipated, the RBA announced some changes in the monetary policy. The overall tone of the meeting and the policy statement is upbeat about the economic recovery while cautious over the uncertainty and subdued inflation. Policymakers remain optimistic over economic developments. As noted in the meeting, “the outlook for investment has improved and household
Surprise move The US Defense department is cancelling a $10B JEDI contract awarded to Microsoft. The Pentagon says that they seek a new multi-cloud , multi vendor contract. The Pentagon will seek proposals from both Amazon and Microsoft. They added that The JEDI contract now longer meets the requirements of the Dept of Defense capability
By Serene Cheong, Sharon Cho and Anthony Di Paola Saudi Arabia raised oil prices for buyers from Asia to the U.S. for August after OPEC+ talks broke down just as the market was clamoring for more supply. The Saudis, along with Russia, sought over the past week to rally other members around a plan to
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with Sterling. European stocks are trading mildly
RBA to announce its latest policy decision at 0430 GMT No change is expected to the cash rate so that isn’t going to offer much surprises to the market but keep an eye on the language – especially that on inflation/wages in case. The RBA is to deliberate whether to retain April 2024 bonds as
Gold prices were hovering close to a two-week high on Tuesday, helped by a subdued dollar, while investors awaited minutes from the US Federal Reserve‘s June policy meeting for more clarity on monetary policy going forward. FUNDAMENTALSSpot gold was steady at $1,792.34 per ounce by 0055 GMT, after hitting its highest since June 18 at
Dollar and Yen recover some ground in mixed Asian session today. Stocks in Japan and Hong Kong are slightly down by China and Singapore are steady. Much weaker than expected services data from China triggered little reactions. Swiss Franc is retreating against other major currencies but losses are limited. Commodity currencies are softening somewhat. With
PM Johnson announces the end of UK restrictions on July 19 The pandemic is far from over We are seeing cases rise We must reconcile ourselves to more deaths from Covid Our vaccines have helped to break the link between disease and death if we cannot reopen our society in the next few weeks, then we must
National Commodity and Derivatives Exchange (NCDEX) on Monday launched two sectoral indices in agri-commodities basket namely NCDEX GUAREX and NCDEX SOYDEX. As the name suggests, GUAREX is a return based index tracking the price movement in the futures contracts of its guar seed and guar gum refined splits on a real-time basis. Similarly, SOYDEX will
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses
Forex news for Asia trading on Monday 5 July 2021 Yet again we await developments from OPEC+ as last week’s Thursday meeting stretches into Monday. If you have missed developments an agreement to increase production (by 400K barrels a month from August to December inclusive) is being blocked by objections from the UAE (the country
Gold prices edged lower on Monday after hitting a two-week high in the previous session, weighed down by a slight uptick in the dollar, while investors awaited more US economic data for clues on the Federal Reserve‘s monetary policy plans. FUNDAMENTALSSpot gold was down 0.1% to $1,785.41 per ounce by 0037 GMT, after hitting its
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday. The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the
Sales volume of real-time power market (RTM), which allows consumers to buy power just one hour before delivery, jumped over three-fold to 1,726 million units in June compared to the year-ago month at (IEX). The RTM was launched last year on June 1, and had witnessed sales of 515 MU in the first month of
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