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French President Emmanuel Macron called a snap election on Sunday. His decision came after Marine Le Pen’s far-right National Rally party polled very strongly in European elections held on Sudnay. Le Pen made the largest gains in European Parliament elections Greens and liberals lost ground Macron has announced that he is dissolving the national assembly

UPCOMING EVENTS: Tuesday: UK Labour Market report, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, China CPI, UK GDP, US CPI, FOMC Policy Decision. Thursday: Australia Labour Market report, Swiss PPI, Eurozone Industrial Production, US PPI, US Jobless Claims. Friday: New Zealand Manufacturing PMI, BoJ Policy Decision, US University of Michigan Consumer Sentiment. Tuesday

Gold prices rose on Thursday, building on the previous session’s gains as investors awaited U.S. non-farm payrolls data that could determine whether interest rates will be cut earlier than expected this year. FUNDAMENTALS * Spot gold was up 0.4% at $2,365.40 per ounce, as of 0121 GMT, after a more than 1% gain on Wednesday.

The PBOC is China’s central bank and the biggest buyer of gold in the world. Data hit on Friday that the Bank bought zero gold in May: In May 2024 gold prices hit a record high, and it looks like the PBOC stepped back from reserve buying in response. The Bank had been buying in

Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Brent crude futures settled 25 cents lower at $79.62 a barrel, while U.S. West Texas Intermediate crude (WTI) fell

The US jobs report came in stronger, but then again there was some ambiguous/less strong components. Non-farm payroll rose 272K vs 185K estimate. Private payrolls rose 229K vs 170K estimate Average hourly earnings rose 0.4% vs 0.3% expected Average earnings YoY rose 4.1% vs 3.9% expected Those were the stronger-than-expected pieces of the report. The

Gold accelerated declines on Friday after a stronger-than-expected U.S. jobs report doused expectations for U.S. interest rate cuts this year, adding to bearish sentiment driven by data showing top consumer China held off on bullion purchases in May. Spot gold dipped about 3% to $2,304.54 per ounce as of 1757 GMT. U.S. gold futures settled

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 fell by Rs 1,200 per 10 gram on Friday reacting to sudden halt in gold buying by the Chinese central bank, which came on the back of spot gold prices hitting record highs that People’s Bank of China (PBOC) stopped gold purchases to its reserves in May. The move came after 18 months

Dollar rebounds broadly in early US session following stronger-than-expected employment data. Despite a slight uptick in unemployment rate, robust headline job growth and wage increases highlighted the US job market’s continued tightness. This suggests that Fed should remain cautious about premature policy easing. In reaction to the data, US futures tumbled significantly, pointing to a

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 prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move. Brent crude futures rose 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas

Forex markets remain directionless as the week’s highly anticipated central bank activities. The rate cuts by both BoC and ECB failed to provide the expected catalysts for significant currency movements. Neither Canadian Dollar nor Euro managed to break out of their recent trading ranges following these policy adjustments. Similarly, Dollar continues to gyrate within its

The US jobs report will be released at 8:30 AM ET tomorrow. Last month (April), the payrolls came in at 175K which was much lower than the 243K estimate at the time. The prior month revision was -22k. Other details from April’s report showed: Unemployment rate 3.9% vs 3.8% expected (3.8% prior) Participation rate 62.7%

Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply. Brent crude futures rose 27 cents, or 0.34%, to $78.68 a barrel by 0103 GMT,

Following ECB’s decision to lower interest rates by 25 bps, a move that aligned with market expectations, Euro remained relatively steady within its near term trading range. ECB President Christine Lagarde, speaking at the post-meeting press conference, deliberately avoided providing explicit forward guidance, stating that ECB is not pre-committing to any particular rate path. Lagarde

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

As the bullion displayed volatility over the last few days, the August futures of the yellow metal opened 0.55% or Rs 396 higher at Rs 72,914 per 10 grams, while silver July futures opened at Rs 91,550/kg, 1.22% or Rs 1,106 higher. Gold and silver recovered from their lows amid interest rate cuts by the