MCX Gold prices got a breather on Friday from the ongoing correction as the dollar index slipped slightly. Gold traded with a positive bias at the market opening time. The MCX December gold futures were trading up by Rs 7 or 0.01% from the Thursday closing price at Rs 57,853 per 10 gram on the
The global markets experienced a noticeable shift in momentum as major US stock indexes concluded with substantial gains overnight, and treasury yields took a step back. This favorable swing persisted into Asian trading hours, marked by a remarkable rebound in Hong Kong stocks. Australian Dollar has been on the upswing, further bolstered by Copper’s resurgence
Share: The Core Personal Consumption Expenditures Price Index is forecast to rise 0.2% MoM and 3.9% YoY in August. The Federal Reserve’s Summary of Economic Projections pointed to one more rate hike in 2023. A soft PCE reading could weaken the US Dollar. The Core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s
While critics have been busy writing eulogies for Meta’s metaverse dream over the last few years, Mark Zuckerberg’s latest demonstration of its photorealistic avatars shows it could be pretty far from dead after all. Appearing on a Sept. 28 episode of the Lex Fridman podcast, Zuckerberg and the popular computer scientist engaged in a one-hour
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Markets: Gold down $8 to $1866 WTI crude oil down $1.96 to $91.72 US 10-year yields down 4.9 bps to 4.58% S&P 500 up 0.6% AUD leads, USD lags Thursday was a reversal of the recent price action in markets but there wasn’t a particular catalyst. To be sure, the consumer spending data in Q2
Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session. U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%,
Dollar is experiencing a broad retreat today, reflecting a phase of consolidation after its notable advancements in the recent days. Market participants are seemingly recalibrating their positions, with the closure of the month in sight and in anticipation of pivotal economic data slated for release next week. While the rise in US 10-year yield continues
In this article NKE Follow your favorite stocksCREATE FREE ACCOUNT A shopper leaves a Nike store along the Magnificent Mile shopping district with a purchase in Chicago, Dec. 21, 2022. Scott Olson | Getty Images Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but
Share: During the Asian session, Japan will release critical economic reports including the September Tokyo Consumer Price Index, the August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts. In Australia, Private Sector Credit data is due. Later in the day, a new estimate of UK Q2 GDP and Consumer Credit will be reported, while
It looks like the more hawkish than expected FOMC Dot Plot last week was kind of a wakeup call for the market as it’s been selling off with almost no pullback ever since. The resilience in the economy is keeping the Fed on the hawkish camp as it wants to see more weakness in the
The greenback is down slightly on the day but I wouldn’t really read too much into it, at least for now. EUR/USD is up 0.15% to 1.0515 while GBP/USD is up 0.35% to 1.2175 on the day. In comparison to the moves this week, the changes today don’t mean anything much. Not especially when Treasury
MCX Gold prices traded at six month lows on Thursday getting beaten by the uptick in the dollar index (DXY) which is inching towards the 107 mark against a basket of six major currencies. The MCX December gold futures were trading down by Rs 91 or 0.16% from the Wednesday closing price at Rs 58,192
Dollar’s strength remains unabated, particularly against its European counterparts and Yen. The greenback rose alongside 10-year yield, which soared past the 4.6% mark overnight, a level unseen in over 15 years. The surging global treasury yields are a clear indicator of the market’s expectation for a prolonged period of restrictive monetary policies by central banks
Share: Gold price faces an intense sell-off as Fed Kashkari said he sees one more interest rate hike this year. Strength in the US economy due to tight labor market and strong consumer spending have backed the Fed’s hawkish stance. The US Dollar refreshes a six-month high near 106.80 amid global slowdown risks and impending
Bitcoin mining firm Marathon Digital has confirmed it mined an invalid Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations. In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiments and stressed they weren’t trying to alter the network in any way: “In no
The USDJPY momentum to the upside has continued with the pair making a new high in the current hourly bar. The high price has now reached 149.69. Earlier today, the price moved above a topside trend line on the daily chart (see chart below) at 149.29. Recall from yesterday, the price traded up that trendline,
The US dollar index (DXY) is closing at the highest levels in 10 months (end of November 2022). The dollar has risen 5 of the last 6 trading days. The biggest gainer for the USD was versus the AUD with a rise of 0.72%. The EUR (0.63%) and CHF (0.62%) were also solidly higher on