New Delhi: Gold in the national capital on Thursday tumbled Rs 312 to Rs 46,907 per 10 gram amid weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,219 per 10 gram. Silver also plunged Rs 1,037 to Rs 66,128 per kilogram from Rs 67,165 per
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The BOE voted unanimously to keep Bank rate at 0.1%, and 7-1 to leave purchases of government bond at 875B pound. While the latter decision came less hawkish than we had anticipated (we expected 2 dissents), British pound got a boost as policymakers hinted about “modest tightening”. Upgrading Inflation Forecast The staff revised higher 2Q21
Latest data released by Markit/CIPS – 5 August 2021 That’s a big fall in construction output as activity eases from the 24-year highs in June to the slowest since February. House-building remains the key pillar driving overall activity but businesses are saying that they are struggling to keep with demand in the construction sector amid
NEW DELHI: Gold prices edged lower on Thursday in domestic markets, tracking global cues as the dollar held firm. A top US Federal Reserve official signalled the possibility of bringing forward policy tightening. Gold futures on were down 0.09 per cent, or Rs 45, at Rs 47,847 per 10 grams. Silver futures traded 0.25 per
Overall markets were rather mixed for the moment. Dollar’s selloff was quickly choked off by strong ISM services overnight, even though there is no clear follow through buying. Traders are holding off the bets for now, awaiting tomorrow’s non-farm payroll figures. Sterling will come to the center of the stage today first, with BoE super
Forex news for North American trading on August 4, 2021 The market was anticipating some key events and releases today. The first was the ADP jobs report. With the key US employment report on Friday, getting a feel for the possible direction via this report was eyed by traders. It came out much weaker than
New Delhi: Gold in the national capital on Wednesday rose by Rs 123 to Rs 46,992 per 10 gram amid gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,869 per 10 grams. Silver also zoomed Rs 766 to Rs 66,926 per kilogram
US futures turn south after much weaker than expected ADP job data. Yen regains much growth as risk sentiment turn cautious again. Though, as for today, Kiwi and Aussie are still the strongest. Canadian Dollar is currently the worst performing as dragged down by weakness in oil price. Dollar is following as the next weakest
Latest data released by Markit/CIPS – 4 August 2021 Composite PMI 59.2 vs 57.7 prelim The preliminary report can be found here. That’s a decent bump in the final readings but it still reaffirms the slowest growth in UK business activity since March. Staff shortages amid self-isolation restrictions contributed to that alongside strongest input cost
NEW DELHI: Gold prices edged higher on Wednesday in the domestic market, tracking global cues. Gains in the yellow metal are supported by a subdued dollar. Gold futures on MCX were up 0.15 per cent, or Rs 72, at Rs 47,936 per 10 gram. Silver futures traded 0.31 per cent, or Rs 210, higher at
Following strong closes in US stocks, Asian markets ex-Japan are trading generally higher. The development helps lift commodity currencies generally higher. In particular, New Zealand Dollar is additionally lifted by much stronger than expected job data. Yen is paring some gains but weak treasury yields is keeping it afloat. On the other hand, Dollar continues
Forex news for North American trading on August 3, 2021 The price of oil had a down and up ride today as concerns about a covid slowdown and mid-east (Iranian?) tensions weighed on prices before lifting them back up. The run to the downside took the price of crude back below the $70 level to
New Delhi: Gold prices in the national capital dipped marginally by Rs 31 to Rs 46,891 per 10 grams on Tuesday, in line with weak global trends and on rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,922 per 10 grams. Silver also tumbled Rs 372
Dollar is under some pressure as falling treasury yield is weighing down the greenback. Canadian Dollar is even weaker as WTI oil price breaches 70 handle again. New Zealand and Australian Dollars are the stronger ones but gains are limited. The post RBA lift on Aussie is so far short-lived. Swiss Franc is actually taking
China stepping up measures to deal with the latest COVID-19 outbreak The spread of the delta variant is becoming more of a problem globally, with China the latest big name to be impacted significantly. SCMP reports that some flights, trains, and buses to the Chinese capital have been cancelled as authorities are barring anyone from
NEW DELHI: Gold prices were trading with big cuts in the domestic market today, following weaker global cues. A steady dollar pushed the yellow metal lower. Gold futures on MCX were down 0.37 per cent, or Rs 178, at Rs 47,908 per 10 gram. Silver futures traded 0.61 per cent, or Rs 411, lower at
Surprisingly, the RBA remained optimistic about the economic outlook despite the lockdown in various states over the past weeks. At today’s meeting, the members decided to go ahead with QE tapering from September and upgraded economic forecasts. The central bank maintained a upbeat view over Australia’s economy. As governor Philip Lowe suggested, “the experience to
Dammit Forex news for North American trading on August 2, 20221 The start of the trading week in North America was met with some added fear of the Delta variant of the Covid virus. China Caixan PMI index was the lowest since April 2020 (50.3 - just above the expansion benchmark). Eurozone PMI data was pretty good with German retail sales surging