Gold prices declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand. The February gold futures were trading at Rs
Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in
Share: WTI declined on Thursday, extending losses as broad-market risk flows reverse direction. Crude Oil markets are facing declines, shrugging off an unexpected decline in US crude stocks. Rough year-end markets are pulling down barrel prices to close out 2023. West Texas Intermediate (WTI) US Crude Oil extended a decline on Thursday, backsliding into the
US major indices are trading marginally higher in early US trading. Dow Industrial Average is trading up 51.00.16 percent at 37717.80 S&P index is up up 9.28 points or 0.19% at 4790.60 Nasdaq index is up up 25.42.00.17 percent at 15125.42 The Russell 2000 of small-cap stocks is taking a breather today with a decline
WI level at the time of the auction 3.835% High-yield 3.859% Tail: +2.4 basis points Bid to cover 2.5X. The last option came in at 2.44X Indirect’s 63.7 which was the weakest since March Directs 19.37% Dealers 16.19% Not a particularly strong auction. Rick Santelli on CNBC gave him a grade of D+. US stocks
Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. This is at least the second time the precious metal prices have touched a record high of Rs 64,300 per 10 grams on December 4. In the previous trade, the
Japanese Yen and Swiss Franc are standing out with significant rallies in otherwise relatively subdued markets today. Yen resumed its near-term rise against the Dollar, reaching its highest level in five months. Simultaneously, Swiss Franc has achieved its highest level in over a decade, excluding the spike seen in 2015. While Dollar remains the weakest
Share: The Swiss Franc finishes 2023 as the top G10 performer. Economists at ANZ Bank analyze CHF outlook. Weaker EU growth is associated with a stronger CHF TWI on a broader time horizon We think the SNB will be less concerned with supporting CHF strength in 2024. Weaker EU growth is associated with a stronger
The EURUSD is running higher as USD sellers exert their pressure after the weaker Richmond Fed regional index. The EURUSD price action has now moved within a swing area between 1.1095 and 1.11346. It would take a move above that area to increase bullish bias. The next target would come at the March 2022 high
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Gold prices surged on Thursday to the highest in more than three weeks as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March. February gold futures were trading at Rs 63,795 per 10 grams on the MCX at 10.20
Japanese Yen soars broadly in Asian session today, likely in delayed reactions to comment made by BoJ Governor Kazuo Ueda. Speaking to NHK, Governor Ueda indicated that the chance of moving the short-term interest rate out of negative territory in 2024 was “not zero.” This remark marks a notable shift in tone from the central
Share: The DXY Index fell to its lowest level since July, below 101.00. Markets are placing bets on six rate cuts by the Federal Reserve for 2024. As for now, investors are pricing in the first cut in March. The US Dollar (USD) continues to experience sharp losses, with the US Dollar Index (DXY) trading
The major European indices have gotten off to a modest positive start in the shortened holiday week of trading. Most of the indices were closed yesterday and also on Monday. Snapshot of the closing levels shows: German DAX, +0.21% France CAC, +0.04% UK FTSE 100 +0.36% Spain’s Ibex +0.10% Italy’s FTSE MIB +0.12% As European
Gold is on track for an all-time closing high today. It’s up $11 to $2077. That would surpass the all-time closing high of $2071 set on December 1. Also notable is that on December 4, gold briefly went super-nova in a sharp rally up to $2135 at the open in Asia before being hit by
Gold touched its highest in more than three weeks on Wednesday, as traders bought zero-yield bullion in anticipation of U.S. interest rate cuts next year, while a dip in the dollar and bond yields also supported prices. Spot gold was up 0.4% at $2,074.49 per ounce by 10:24 a.m. ET (1524 GMT), hitting its highest
In today’s subdued trading environment, Sterling Euro have emerged as the strongest currencies, outperforming Australian Dollar and New Zealand Dollar. The ascendancy of these European currencies does not appear to be driven by any specific fundamental factors. Instead, it seems to be part of a rotational trend where different currencies take turns rallying against Dollar
Share: Russian Deputy PM Alexander Novak expressed his view on oil supply cuts and Brent oil prices in 2024, in his appearance on Wednesday. Key comments Russia is a responsible participant of OPEC+ agreement Our companies are sticking to their obligations on supply cuts. Russia ensures stable work of oil industry and its strategic development.