A 3 percent drop in gold prices beginning March has spurred demand for the yellow metal in the physical and paper form. Wealth managers said that clients looking at gold as a long-term investment with regular interest earning are buying sovereign gold bonds (SGBs) from the secondary market at the current rate, which is below
Asian markets closed in deep red earlier today while European stocks dived in initial trading. Yet, the markets were saved by much stronger than expected PMI data out of Eurozone and UK. Overall sentiments recovered notably, with US futures pointing to a rebound at open. In the currency markets, Canadian Dollar, Dollar and Aussie are
Tiffany Hagler-Geard | Bloomberg | Getty Images Investors are finally getting a look at GameStop‘s fundamentals following a Reddit-fueled trading frenzy earlier this year. Here’s what the company did after the bell Tuesday. It released quarterly results that missed Wall Street’s estimates. In its latest executive shake-up, the company named former Amazon and Google executive
Spot silver is higher on Wednesday despite a stronger US dollar, likely as a result of profit-taking. XAG/USD prices bounced at the $25.00 level and currently trade nearly 5.0% lower on the week. Despite an ongoing pick up in the fortunes of the US dollar on Wednesday spot silver prices (XAG/USD) are holding up fairly
On the daily chart as shown below … what do the technical analysts think of this one? As far as H&S go this does seem nice and textbook-like. NZD and AUD have fallen out of favour as oil prices have dropped renewed coronavirus waves hit Europe and elsewhere calling into question the ‘commodity supercycle’ on
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The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks. As the central bank turns its attention increasingly toward the matter, the Fed has created a Financial Stability Climate Committee and a Supervision Climate Committee. The panels will focus on “the potential for complex
TOKYO: Oil prices edged higher on Wednesday as investors looked for bargains following the previous day’s plunge, but gains were capped as pandemic lockdowns in Europe and a build in U.S. crude stocks curbed risk appetite and raised oversupply fears. Brent crude futures rose 27 cents, or 0.4%, to $61.06 a barrel by 0108 GMT,
Commodity currencies are generally weak in Asian session, together with Sterling. Stocks in Hong Kong and China are reacting negatively to joint sanctions by EU, UK, Canada and US over China’s genocidal treatments of Uyghurs in the Xinjiang region. EU’s action is seen as significant turning point in the relations with China, as it’s the
WTI retreats towards six-week low flashed the previous day. Fears of US-China trade war join geopolitical and virus-led downbeat sentiment. API marked oil inventory build, EIA stockpile eyed. US dollar moves and risk catalysts will be important to watch. WTI fades recovery moves from early February low while easing to $57.60 amid Wednesday’s Asian session.
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Global developments over the past year have reshaped all aspects of daily life for most people and initiated some structural changes in how society operates. Lockdowns and travel restrictions have led to the rise of remote working and altered the way people make use of their free time. The coronavirus pandemic essentially shut down travel
Little in the way of corrective action today. The NZD is the runaway weakest currency of the day. Helping the bias is the pair cracking below the 100 day MA for the first time since Oct/Nov 2020. At that time, the breaks were very modest. You have to go back to May 2020 when the price was
US February new home sales Prior was 923K Sales -18.2% vs -5.7% expected Prior was +4.3% Homes for sale at the end of Feb 312K vs 304K prior Median price $349.5K, up 5.3% y/y Supply 4.8 months vs 3.8 months prior The largest drop was 37.5% in the Midwest, which was hammered by cold weather.
YES Securities The bulls managed to keep the benchmark indices in the positive territory amidst volatility. However, the Nifty50 index continued to face tough resistance at the 20-DMA placed at 14,900 levels. Further, a failure to take out this resistance of 14,900 may resume the corrective wave, dragging the index lower to levels of 14,730-14,630.
Yen buying accelerates today as selloff in commodity currencies intensified. New Zealand Dollar is trading as the worst, by some distance, followed by Aussie. Canadian Dollar is dragged down by decline in oil prices, while Sterling is also pressured after poor job data. On the other hand, Dollar is following Yen as the second strongest,