NEW DELHI: Gold prices held steady on Friday as investors awaited US inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. After choppy trading, the yellow metal posted modest gains in domestic markets. Fewer Americans filed new claims for unemployment benefits last week, according
News
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
Been great to be with you all this week as Justin takes some well deserved time away. I haven’t quite done yet as I wanted to drop in with the latest central bank update. Taking a step back the feel I am getting is that CB’s are thinking about thinking about tightening. The ones that
LONDON: Copper prices held steady on Friday after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal valued at $1.2 trillion over eight years, which helped reinforce expectations of stronger demand. However, worries about the U.S. Federal Reserve tightening monetary policy sooner than expected subdued some of the optimism and weighed on copper prices
Yen and Dollar ended the week as the worst performing ones, as US stock markets came back with strong rally. Risk-on sentiments pushed commodity currencies broadly higher. Yet, Yen crosses are also held below recent highs despite the rebounds. Dollar’s pull back was also relatively weak. Some more time is needed to determine if they’re
Forex news for New York trade on June 25, 2021: Markets S&P 500 up 14 points to 4280 US 10-year yields up 3 bps to 1.52% WTI crude up 69-cents to $73.99 Gold up $4 to $1779 CAD leads, GBP lags The PCE report was the focus of the session and inflation fears were running
Gold rose on Friday after sombre U.S. inflation data tempered bets for early monetary policy tightening by the Federal Reserve, setting bullion on track for its first weekly gain in four. Spot gold gained 0.4% to $1,782.46 per ounce at 10:53 a.m. EDT (1453 GMT), adding over 1% for the week thus far. U.S. gold
Dollar and Yen are trading slightly softer in Asian session today, as markets are back on full risk-on mode. S&P 500 and NASDAQ hit new record after US President Joe Biden struck an infrastructure deal with a bipartisan group of senators. Asian stocks also trail higher. Commodity currencies rise in general as led by New
US dollar on the decline Fears of an early Fed taper or rate hike faded after inflation data matched economist estimates in May. Core PCE rose 3.4%, as expected. The recent trend in inflation numbers has been to exceed the consensus, particularly in the recent 5.0% CPI reading. Markets were braced for more of the
NEW DELHI: Gold in the national capital on Friday dipped marginally by Rs 66 to Rs 46,309 per 10 gram, according to HDFC Securities. The precious metal had closed at Rs 46,375 per 10 gram in the previous trade. In contrast, silver jumped Rs 332 to Rs 67,248 per kilogram from Rs 66,916 per kilogram
Dollar weakens in early US session, in particular against Yen. PCE inflation showed notable acceleration in May but fell short of expectations slightly. Nevertheless, Sterling is the worst performing ones for today, extending post BoE selloff. The Pound is also pressured by uncertainties over resurgence of coronavirus infections. Commodity currencies are the strongest, as US
Morgan Stanley Research says they have turned to a bearish view on the Australian dollar. We turn bearish on AUD/USD outright and recommend short positions as we believe the USD rally is starting to broaden out now that we are likely entering Regime 3 of our four-regime USD framework. AUD/USD is likely to fall in
NEW DELHI: Aluminium prices on Thursday fell 60 paise to Rs 192.55 per kg in the futures market as participants trimmed their positions on a low trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in July declined 60 paise, or 0.31 per cent, to Rs 192.55 per kg in 2,402
The chorus of Fedspeaks overnight provided little inspirations to the markets. Some policy makers expected tapering in the coming months, followed by rate hike next year. Some remained more cautious on the outlook. That’s what we already know from the Fed’s dot plot already. Major US indexes closed mixed in tight range. Yen and Dollar
Overall moves modest A heavy dose of data did little in the way of moving markets but there has been some mild dollar selling, particularly in EUR/USD. The main miss in the numbers was in initial jobless claims at 411K compared to 380K expected. Durable goods orders were also on the soft side. The Fed
NEW DELHI: Gold in the national capital on Thursday dipped by Rs 93 to Rs 46,283 per 10 grams amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,376 per 10 grams. Silver, however, gained Rs 99 to Rs 66,789 per kg, from Rs 66,690 per
Sterling drops notably today after BoE delivered no hawkish surprise. While it sounded upbeat on the outlook, the MPC, except chief economist Andy Haldane, would prefer to wait until August to take any policy actions. Dollar is also soft after weaker than expected jobless claims and durable goods orders. On other other hand, 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