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Gold prices struggled for direction in early Asian trading on Wednesday as traders awaited the U.S. Federal Reserve’s widely expected rate hike and a potential end to its monetary tightening cycle. FUNDAMENTALS * Spot gold held its ground at $1,964.14 per ounce by 0110 GMT, while U.S. gold futures edged 0.1% higher to $1,965.90. *

The financial markets appear to be a little on risk-off mode today, as FOMC rate decision is awaited. Additionally, ECB will announce policy decision tomorrow, followed by BoJ on Friday. Commodity currencies are the worst performers so far, as led by Aussie which was pressured following CPI data earlier today. Yen is currently the strongest,

Most dollar pairs are seeing light changes so far today and the greenback itself is seeing some mixed tones, as markets are keeping rather tentative awaiting the FOMC meeting decision. USD/JPY did move slightly lower from its highs in Asia, down from around 141.00 to 140.72 currently but is now just down around 0.13%. The

Gold remained range-bound in Wednesday’s early trade ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) meeting later in the day. Dollar Index (DXY) was above the 101 mark against a basket of six top currencies. The August gold futures were trading with minor gains at Rs 59,203 per 10 grams on the

In today’s Asian trading, Australian Dollar took a brief dip following release of consumer inflation data that indicated more rapid deceleration than predicted. This dampened expectations for an additional rate hike by RBA in early August. Nonetheless, Aussie managed to regain stability promptly, reversing some of the selloff. As Fed’s rate decision looms, market participants

The GBPUSD started the session lower and below the 50% midpoint of the range since the June 29 low at 1.2866. That level was also close to the falling 100-hour MA. The dual levels increased that levels importance. In the US afternoon session, the price moved above that level at 1.2866 and the price shot

Gold prices struggled for direction in early Asian trading on Tuesday as traders braced for a widely anticipated rate hike along with monetary policy clues from the U.S. Federal Reserve over the next two days. FUNDAMENTALS * Spot gold rose 0.2% to $1,958.20 per ounce by 0119 GMT, while U.S. gold futures fell 0.1% to

Euro falls broadly today following release of weaker than expected German Ifo business climate data, although losses remain somewhat contained for the moment. It appears traders are holding their bets in anticipation of the upcoming FOMC and ECB rate decisions. Further, with July drawing to a close and the markets in a characteristic summer lull,

The stronger Chinese yuan is the main reason helping the antipodean currencies today, with AUD/USD leading gains as it is up 0.5% to 0.6770 currently. The pair continues to keep a bounce off its 200-day moving average from yesterday, but what is the rest of the technical picture saying? AUD/USD daily chart In the bigger

Gold traded range bound in the early trade on Monday ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) which begins later in the day. The bias remained negative as the dollar index (DXY) was trading above the 101 mark and only strengthened in the last session leading to declines in bullion prices.

Australian Dollar advances broadly today, buoyed by optimism surrounding news of stimulus from the Chinese government. This positive outlook has also lifted sentiment for Chinese Yuan and Copper. New Zealand Dollar has similarly benefited from this favorable sentiment, which is providing support to Sterling as well. Meanwhile, Dollar is slightly softening, alongside Yen and Swiss

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Gold prices dropped by Rs 100 to Rs 60,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 60,450 per 10 grams. Silver also declined by Rs 200 to Rs 77,000 per kilogramme. Gold eased on

Euro and British Pound face some downward pressure today, following dismal PMI data that raises concerns about the prospect of further economic contraction in Eurozone and UK. With the German Ifo business climate index on the horizon tomorrow and ECB rate decision due on Thursday, Euro is likely to face additional scrutiny. Meanwhile, Dollar seems

The upcoming week will be eventful, with several key economic indicators and policy announcements scheduled across different regions: Monday will feature the release of Flash Manufacturing PMI and Flash Services PMI for the United States. On Tuesday, Japan will announce the BoJ core CPI y/y, while the United States will publish the CB Consumer Confidence

Bullion traded rangebound in the early morning session on Monday ahead of the crucial US Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins on Tuesday. The bias remained negative as the dollar index (DXY) was trading above the 101 mark. The August gold futures were trading in the red at Rs 59,220 per

As a typical Monday Asian session commences, activity in the financial markets is somewhat muted. Nikkei is displaying a notable rise, although this primarily reflects continuation of its recent flip-flopping pattern within an established range, indicative of ongoing consolidation. A similar pattern is observed across other major Asian markets as well. On the currency front,

Dr. Fatih Birol is Executive Director of the International Energy Agency (IEA), he spoke to reporters at a meeting of Group of 20 energy ministers in India over the weekend. He said that the IEA revisions to its global oil demand growth projections “is very much dependent on the growth of many countries in the