News

UPCOMING EVENTS: Monday: PBoC LPR. Tuesday: Canada PPI. Wednesday: BoC Policy Decision. Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, US Jobless Claims. Friday: PBoC MLF, Tokyo CPI, German IFO, Canada Retail Sales, US Durable Goods Orders. Monday The PBoC is expected to cut the LPR rates by 20 bps bringing the 1-year rate to 3.15% and the 5-year

Gold, of late, has stopped showing much reaction to traditional drivers like the US yields, the US Dollar Index, key macroeconomic data, etc as bulls are now focused primarily on uncertainties over the US presidential election outcome. In addition, the metal is extending its gains on synchronised global rate cuts, ETF inflows and geopolitical factors

Sterling has taken a significant hit after UK inflation data for September showed sharper-than-expected decline, falling below BoE’s 2% target again, and hit the lowest level in over three years. Core CPI also fell more than forecasted, indicating a stronger pace of disinflation. Services prices, a key inflation driver, showed a marked slowdown, reinforcing the

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 your initial investment; do not

Oil futures fell on Friday, declining more than 7% on the week after data showed China’s economic growth slowed and investors digested a mixed Middle East outlook. Brent crude futures fell $1.39, or 1.87%, to $73.06 a barrel. U.S. West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05%. Brent settled more than

Dollar continued its reign as the strongest currency for yet another week, bolstered by solidifying expectations around gradual and measured rate cut cycle by Fed. The rate cut from ECB provided some additional tailwind for the greenback. However, momentum behind the Dollar’s rise remains tepid. Strong risk-on sentiment, coupled with sluggishness in U.S. Treasury yields,

Markets: Gold up $27 to record $2719 US 10-year yields down 2 bps to 4.07% WTI crude oil down $1.27 to $69.40 S&P 500 up 0.3% JPY leads, CAD lags Happy Friday and an especially happy on to the gold bugs, who are being richly rewarded with a 4-day rally and a fresh all-time high.

New York Stock Exchange, according to a regulatory filing. The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world’s largest cryptocurrency and the broader crypto industry. Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF, the

Sterling rises broadly today, driven by unexpectedly strong retail sales figures for September. This recovery suggests that the negative impact of weaker-than-expected CPI data earlier in the week has been fully absorbed by the market. While it now seems likely that BoE will proceed with interest rate cuts in November, the pace of monetary easing

I just posted about the signs of euphoria that are building in markets. And why wouldn’t they be, the market has rallied six weeks in a row. Here is a reminder from two years ago what the other side of that trade looks like. In October 2022, the gilt market blew up and that led

Making new highs for 3 consecutive sessions now, Gold December futures contracts at MCX opened flat today at Rs 77,565 per 10 gram, which is up by 0.60% or Rs 458 while silver December futures contracts were trading at Rs 92,573/kg, up by 0.90% or Rs 829. On Thursday, gold and silver settled on a

Dollar remains the top performer for the week, despite a mild pullback today. Sterling jumped into second place, buoyed by stronger-than-expected UK retail sales data. Meanwhile, Canadian Dollar holds third position, although its momentum has waned, suggesting it could slip before the weekly close. On the weaker side, Swiss Franc continues to lag behind, marking

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 your initial investment; do not

Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand. Brent crude futures rose 16 cents, or 0.2%, to $74.61 a barrel by 0025 GMT

Euro tumbled broadly after ECB’s decision to cut its deposit rate by 25bps, as widely expected. During the post-meeting press conference, President Christine Lagarde maintained a cautious tone, stressing that ECB is “not pre-committing to a particular rate path.” However, her overall stance leaned dovish, with a clear acknowledgment that “economic activity has been somewhat

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 your initial investment; do not

Gold prices charged to an all-time high on Thursday as expectations of more U.S. Federal Reserve rate cuts and uncertainty over the U.S. presidential election boosted demand for bullion, while traders awaited U.S. economic data. Spot gold rose 0.2% to $2,678.13 per ounce by 0934 GMT, after hitting a record high of $2,685.60. U.S. gold

Australian Dollar saw a modest rebound in the Asian session today, buoyed by much stronger-than-expected employment data. The Australian labor market continues to display resilience, with full-time jobs rising sharply, pushing the total over 10 million for the first time, while unemployment rate held steady at 4.1%. This robust labor market data has dashed any