NEW DELHI: Gold prices edged lower on Tuesday as a firm dollar made the bullion less appealing for holders of other currencies. That said, investors are eyeing a pivotal US Federal Reserve policy meeting. The Federal Reserve’s two-day policy meeting concludes on Wednesday as investors will seek cues on tapering amid growing concerns over a
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Dollar rises in early US session after better than expected employment data. It’s now attempting a breakout against Euro. Canadian Dollar is also firmer after job data. On the other hand, Sterling remains one of the weakest for the week, as post BoE selloff continues. But Euro and Swiss Franc are catching up. Technically, EUR/USD’s
Latest Canada employment report for October 2021 Prior report +157K (vs +60K estimate at the time). Employment Change 31.2K vs 42K estimate Unemployment rate 6.7% versus 6.8% estimate. In September the unemployment rate came in at 6.9%. The unemployment rate is at a 20 month low and within 1% of the 5.7 rate reached in February 2020 Full time 36.4
TOKYO: Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the pandemic. Brent crude rose 72 cents or 0.9% to $81.26 a barrel by around 0452 GMT, after falling nearly 2%
Yen and Swiss Franc are currently the strongest ones for the week and remain generally firm. Falling global benchmark treasury yields seem to be supporting both “safe-haven” currencies. Germany 10-year bund yield is back below -0.22, UK 10-year gilt yield is below 0.95 while Japan 10-year JGB yield is back at 0.07. Aussie is worst
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Softening gold prices and pent-up demand have driven festive gold and jewellery sales with early numbers indicating strong sales on Dhanteras on Tuesday. Leading trade body, the India Bullion & Jewellers Association (IBJA), said this year’s Dhanteras sales are expected to return to pre-Covid levels and surpass those of last year by 15-20%. “Reports trickling
We were surprised that the Committee voted with overwhelming majority to leave the Bank rate at 0.1%. Despite Governor Andrew Bailey’s hawkish comments ahead of the meeting, the was one of those who voted to leave the policy rate unchanged. The BOE also decided to leave the QE program at 875B pound. On the economic
First part of the OPEC meeting underway The weak hands were shaken out of oil yesterday in the sharp decline but those losses have now been completely erased. WTI is up $2.08 to $82.96, setting up another potential bullish candle on the chart. At issue is the OPEC+ decision today. The JMMC monitoring committee has
Gold prices inched lower on Wednesday as investors awaited the result of a U.S. Federal Reserve policy meeting to assess how the central bank plans to combat rising inflation and ease worries about economic recovery. FUNDAMENTALS * Spot gold fell 0.2% to $1,784.04 per ounce by 0138 GMT. U.S. gold futures dropped 0.2% to $1,785.30.
US stocks surged to new records overnight despite Fed’s tapering announcement. Positive sentiments also continued in general in Asia. Dollar remains mixed for now and traders are probably awaiting tomorrow’s non-farm payroll report before taking a commitment. Focus will now turn to BoE rate decision, as Sterling is trading with an undertone. Technically, The general
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW DELHI: Gold and silver prices declined on Wednesday following the trend in the international markets and ahead of the crucial US Federal Reserve policy meeting outcome. The Fed is expected to announce its stimulus tapering timeline at 1400 GMT on Wednesday. It is likely to begin paring its monthly asset purchases by $15 billion
The markets are generally quiet as FOMC tapering announcement is awaited. Major European indexes tread water while US futures are mixed. Global benchmark yields are trading lower for now. In the currency markets, Canadian and Dollar are both weakening mildly today. Stronger than expected ADP job report gives little support to the greenback. New Zealand
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
New Delhi: Gold price in the national capital on Wednesday tumbled by Rs 375 to Rs 46,411 per 10 grams amid a decline in the international prices of precious metals as well as rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,786 per 10 gram. Silver
Overall markets are quite mixed for now. While US indexes surged to new record highs overnight, positive sentiment was not carried forward to Asia. Major pairs and crosses are also stuck in range. It seems that traders and investors have turned into cautious mode, awaiting Fed’s tapering decision. For now, Euro and Swiss Franc are
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do