News

Admittedly, this week was the biggest of the quarter with 4 of 7 “Magnificent 7” announcing including Meta, Apple, Amazon and Microsoft. How did those stocks do this week? 2 up and 2 down, with Amazon the worst performer as they missed on revenues (first miss in over 2 year). They also see less robust

Domestic gold prices jumped by over Rs 1,000 per 10 gram or 1.4% in evening trade, taking cues from the surge in the international markets. Gold’s safe haven appeal was in play after US unemployment data for July was reported higher at 4.3% versus 4.1% in June. Around 7:30 pm, MCX October gold futures were

Risk aversion is intensifying in early US session after non-farm payroll report significantly missed expectations on all fronts. This follows yesterday’s poor manufacturing data, which has already sparked discussions about a hard landing for the US economy. The weak job data is likely to fuel these concerns further, as stock futures are tumbling sharply, pointing

Today all eyes will be on the US NFP report. There is some fear in the markets following yesterday’s ugly ISM Manufacturing PMI, so if we get an ugly NFP report we might see widespread risk-off. The market has fully priced in three rate cuts by the end of the year with chances of a

Amid increased geo-political tensions, gold October futures contracts at MCX opened at Rs 70,305 per 10 gram on Friday, which is up by 0.50% or Rs 351 while silver September futures contracts were trading at Rs 83,684/kg, up by 1.32% or Rs 1,090. Gold prices rose by a little over 1% in Thursday’s session by

Safe haven currencies are dominating the market as the steep selloff in the US extended into Asian trading, with Nikkei down more than -5%. Poor US manufacturing data released overnight has intensified investor concerns about an impending recession, overshadowing the benefits of monetary policy easing from Fed. The market’s attention is now firmly on today’s

What’s expected: Consensus estimate +175K (LBBW at the low at +70K, Bank of American at the high at +225K) June +206K vs +190K expected Private +148K estimate vs +136K prior Unemployment rate consensus estimate: 4.1% vs 4.1% prior Participation rate: 62.6% prior Prior underemployment U6 7.4% Avg hourly earnings y/y exp +3.7% y/y vs +3.9%

Domestic gold prices jumped by over Rs 830 per 10 gram or 1.2% in evening trade, taking cues from the surge in the international markets. The gains were on account of dollar weakness and a positive commentary from the US Federal Reserve on Wednesday hinting at the likelihood of interest rate cut in September. At

Sterling suffered an initial sell-off in European trading and remained weak following BoE’s decision to cut the Bank Rate by 25 basis points to 5.00%. However, it stabilized during Governor Andrew Bailey’s press conference. The tight 5-4 vote to cut the rate underscored that monetary policy easing is not on auto-pilot for BoE. Bailey highlighted

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

Post the US Fed hinted to cut rates in September, Gold October future contracts at MCX opened on Wednesday at Rs 70,005 per 10 grams, which is up by 0.5% or Rs 350 while silver September futures contracts were trading at Rs 83,967/kg, up by 0.44% or Rs 371. Gold prices have increased by Rs

Dollar remained relatively steady following the balanced post-FOMC press conference, with notable exceptions against the stronger yen and Swiss franc. Fed Chair Jerome Powell explicitly mentioned the possibility of a rate cut in September but refrained from making any firm commitments or providing extended guidance. While markets are aggressively betting on three Fed cuts this

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 for August futures have fallen by Rs 3,500 per 10 gm in the last seven trading sessions following the customs duty cuts announced by the government in the Union Budget. The precious metal is currently trading at Rs 69,213/10 gm. Domestic gold prices plunged drastically to Rs 67,400/10 gm — the lowest since

Dollar dipped as weaker-than-expected ADP job data hit the market entering US session. However, the movement has been limited with traders bracing for FOMC rate decision. Fed is widely expected to keep its policy rate unchanged at 5.25-5.50% today. The main focus is whether Fed will signal enough “confidence” to start cutting interest rates in

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 October future contracts at MCX opened on Wednesday at Rs 69,500 per 10 gram, which is up by nearly 0.50% or Rs 322 while silver September futures contracts were up by 0.85% or Rs 702, trading at Rs 83,361/kg. Gold prices surged by nearly 1.3% or Rs 900/gm in two days while silver prices

Yen rose broadly today after the BoJ raised interest rates for the second time this year, and maintained hawkish bias. However, buying momentum has not been decisive. This lack of strong momentum can be attributed to the fact that the rate hike decision was likely well priced in by the markets. Nikkei’s rebound following the