Share: Indian Rupee posts modest gains amid the further escalation of geopolitical tensions in the Middle East. The rising geopolitical tension between Israel-Hamas might limit the INR’s upward path. The Federal Reserve’s Beige Book update showed the US economic outlook had “little to no change” between September and early October. The Indian Rupee (INR) edges
NASDAQ index tests a key cluster of support The NASDAQ index is the worst performer of the major indices with a decline of now over 1%. The move to the downside has now taken the price to a key support area. That support area is defined by the: 100 hour moving average at 13379.32 (see
One of the more-interesting mysteries in the global economy right now is why China’s steel production remains so high. There is no doubt that residential construction has cratered, yet the mills continue to run at 92% capacity. Today’s Chinese GDP data was strong at +1.3% q/q vs 1.0% expected so there may be even more
Gold price jumped Rs 500 to Rs 60,650 per 10 grams in the national capital on Wednesday amid strong global cues in international markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,150 per 10 grams. “Gold prices jumped on Wednesday, following a positive trend in the overseas
The tumultuous environment resulting from the Middle East tensions has prompted a noticeable upswing in Gold and Oil prices today, yet the forex markets remain relatively unaffected. Swiss Franc is currently leading the pack, its ascent likely attributed to the ongoing geopolitical unrest, though its rise is modest. US President Joe Biden’s diplomatic mission to
A board displays the exchange rates for Mexican Peso and U.S. Dollar in Mexico City, Mexico March 13, 2023. Raquel Cunha | Reuters People sending money back to Mexico this year have faced a new challenge: the “super peso.” The Mexican currency reached the strongest levels against the U.S. dollar in almost eight years over
In this article MS GSBD Follow your favorite stocksCREATE FREE ACCOUNT Morgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York, December 1, 2022. Brendan McDermid | Reuters Morgan Stanley posted third-quarter results Wednesday that topped profit estimates on better-than-expected trading revenue. Here’s what the company reported: Earnings per share: $1.38,
Share: The Euro trades on the defensive against the US Dollar. Stocks in Europe close the session with marked losses. EUR/USD loses some momentum and slips back to 1.0550. The USD Index (DXY) looks bid in the low 106.00s. Eurozone final inflation figures matched the preliminary readings. Housing Starts expanded 7.0% MoM in September. The Euro (EUR)
As US yields rise, the 2-year yield is up by 12 basis points at 5.218%, and the 10-year yield is up by 13.7 basis points at 4.846%, both on track to close at their highest levels since 2007. Despite the USDJPY’s recent upward movement, traders appear hesitant to approach the 150.00 level. The currency pair
Chinese Communist Party Xi speaking at the Belt and Road forum: belt and road cooperation has progressed from sketching the outline into filling in the details, blueprints turned into real projects This network has boosted the flow of goods, capital, technology and human resources into countries involved Only when the world is good, China will
Gold prices rose on Wednesday after a deadly blast in Gaza fuelled fears of an escalating regional conflict, keeping the safe-haven asset in demand among nervous investors despite robust U.S. economic data and a high rate scenario. FUNDAMENTALS * Spot gold climbed 0.4% to $1,929.89 per ounce by 0123 GMT, and U.S. gold futures also
The currencies from the Southern Hemisphere, Australian and New Zealand Dollars, saw notable volatility in Asian session today. Aussie is gaining traction following release of RBA minutes, highlighting a low tolerance for inflation surprises and opening the door for another rate hike next month. In contrast, Kiwi is facing downward pressure after disappointing CPI data
In this article UAL Follow your favorite stocksCREATE FREE ACCOUNT Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. JanValls | Nurphoto | Getty Images United Airlines said more expensive jet fuel and a halt to the carrier’s Tel Aviv flights during the Israel-Hamas war will
Share: The UK CPI report will be published by the Office for National Statistics on Wednesday. Headline and Core annual inflation are set to fall in September but will likely stay above 6.0%. The UK CPI data could offer cues on the BoE’s policy path and ramp up Pound Sterling volatility. The all-important Consumer Price
The AUDUSD initially moved higher during the Asian and European trading sessions but encountered resistance at its 200-hour moving average and the 50% midpoint of last week’s trading range, around the 0.6366 level. This resistance zone was tested twice. Later, during the early North American session, US retail sales data pushed the price lower, testing
NAHB housing market index falls to lowest level since Jan Prior month 45 dollars to 44 NAHB housing market Index for October 40 vs 44 estimate. Lowest level since January 2023. The index has fallen for the 3rd straight month Single-family sales current 46 vs 50 last month. Lowest since January 2023 Single-family sales next
Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in United States dollars are no longer supported on the platform. Binance.US updated its terms of service on Oct. 16, modifying the section about the “BAM Fiat Wallet,” referring to Binance.US services related to U.S. dollar custody. In the updated terms, Binance.US
Gold fell on Tuesday for the second session as the investors looked to capitalise on the gains made over the previous week. The MCX December gold futures were trading at Rs 59,045 per 10 gram, down by Rs 121, or 0.20%. Meanwhile, the December silver futures were trading at Rs 70,785 per kg, lower by