Sterling has faced significant selling pressure as markets reacted negatively to the Labour government’s budget announcement. Some analysts draw comparisons to the free fall following former Prime Minister Liz Truss’s mini-budget two years ago. Yet, the current selloff is notably milder. The focus now is on whether Sterling can stabilize in the coming days or

Written by , ETMarkets.com| Nov 05, 2024, 08:25:31 PM IST 1/3 Stock Ideas Nifty opened on a negative note and had heavy selling pressure in the first half. However, the index recovered well in the second half to close on a positive note.“Technically, the Nifty formed a piercing line candle on the daily chart around the

Gold prices were muted on Wednesday, as investors held back from taking big positions until the U.S. election’s outcome was known and shifted focus to the Federal Reserve’s upcoming meeting. FUNDAMENTALS * Spot gold fell 0.2% to $2,738.89 per ounce, as of 0051 GMT. Bullion hit a record high of $2,790.15 last Thursday. * U.S.

Dollar saw broad-based weakness in early US session following a much weaker-than-expected non-farm payroll report. Headline job growth came in well below forecasts, though market reaction remains tempered, as the data is widely believed to be heavily skewed by recent hurricanes and strikes. With unemployment rate holding steady and wage growth surpassing expectations, the underlying

Oil prices fell on Wednesday as early poll results in the U.S. election showed Democrat Kamala Harris and Republican Donald Trump locked in a tight race for the presidency. U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to trade at $71.72 per barrel, and Brent crude oil futures lost 0.35 cents, or

Dollar, which has dominated currency markets in recent weeks, finally eased back last week. But this retreat does not necessarily indicate a reversal of its upward momentum. Instead, the greenback appears to be taking a breather ahead of the impending US presidential election. Closing as the second strongest performer among major currencies, Dollar still has

Gold prices traded marginally lower on Wednesday as investors keenly awaited the outcome of a tightly contested U.S. presidential race. As of 10:00 am, December gold futures were trading at Rs 78,434 per 10 grams on the MCX, down by Rs 73, or 0.09%, from the previous session’s closing price. Meanwhile, December silver futures were

Dollar took a notable downturn in the Asian session, and picking up downward momentum too, following a weekend poll that showed Democratic presidential candidate Kamala Harris edging ahead of former President Donald Trump in Iowa. Although Harris’s 47% to 44% lead falls within the 3.4% margin of error, this development marks a significant shift in

Dollar remains the weakest currency in the lead-up to the US presidential election, though its downside appears contained as early selling momentum in Asia has not extended into European session. Safe-haven currencies, led by the Swiss Franc and Yen, are gaining as US and European Treasury yields retreat. Among other currencies, Sterling and Loonie are

Australian Dollar remained stable after RBA decided to keep the cash rate unchanged at 4.35% as widely expected. In the post-meeting press conference, Governor Michelle Bullock acknowledged that there has been “good progress” in reducing inflation. However, the central bank did not adopt a more dovish stance, which came as a surprise to some market

Global currency markets are treading water today, as all eyes turn to the US presidential election, where Kamala Harris and Donald Trump are in a dead heat. Adding to the suspense, the Congressional elections will determine the president’s ability to push policy forward effectively, making the stakes especially high. Given the close race and critical

Dollar rallied sharply today after news broke that Republican candidate Donald Trump defeated Democrat Kamala Harris in North Carolina, a crucial battleground state. This win is considered a pivotal move toward Trump’s return to office, sparking significant moves across financial markets. US stock futures responded with enthusiasm, with DOW futures climbing over 500 points. Meanwhile,