Trading in gold remained subdued on Monday ahead of monetary policy outcomes from major economies. The June gold futures were trading Rs 51 or 0.09% lower at Rs 59,794 per 10 grams on the MCX at 11:15 am. Meanwhile, the May silver futures were trading at Rs 74,295 per kg, down Rs 359 or 0.48%
The swift rise of artificial intelligence (AI)– generated art has shaken creatives across various industries. While many have highlighted copyright infringement issues involving AI-generated art, not all artists are against the fusion of AI and their intellectual property. According to a tweet from Canadian musician and producer Grimes, she says will treat AI creators using
Share: Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy is far away from the substantial upswing.” Additional quotes Proportion of German companies that want to raise prices has fallen again. German economy is lacking momentum. Industry’s export expectations have risen. Strong economies in China and
The price of WTI crude oil futures dipped to a new post OPEC+ production cut low reaching $76.72. That took the price briefly below its 100 day moving average at $76.85, but momentum cannot be sustained in the price has since rebounded higher. We are currently trading to new session highs at $78.23. That’s up
But before we get to the Fed decision on 3 May, there will be some key risk events to consider in trading this week. Here’s the list: Australia Q1 CPI figures (26/4) US Q1 advance GDP data (27/4) BOJ monetary policy meeting decision, forecasts (28/4) Germany April preliminary CPI figures (28/4) France April preliminary CPI
In today’s Asian trading session, Australian and New Zealand dollars extend their decline from late last week, weakening broadly. Concurrently, Japanese Yen is trailing as the next weakest currency. This picture aligns with the steady risk sentiment across Asia, except for Hong Kong stocks. On the other hand, Dollar, Euro, and Swiss Franc are showing
Gold closed with a weekly loss of 1% at $1982.89. The metal was hammered lower Friday on better-than-expected S&P US global PMIs data. Repeated attempts to take out stiff resistance at $2020 have failed, which makes gold somewhat vulnerable in the near-term. S&P global manufacturing PMI preliminary data for April showed that the US manufacturing
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Share: Weekly forecast, April 24 – 28, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 4177, which will be followed by moving up to resistance level 4223 – 4244. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 4177, which
Just when you think the data might be to tipping lower, the S&P/Global flash PMI indices , come in higher than expectations. The 2 year yield moved from down about 5 or so basis points to up 1.8 basis points currently at 4.183%. The 10 year yield is now up 2.1 basis points at 3.566%.
Got your investor and trader hats on? Let’s dive into market sentiment and unusual options activity for the SPY / SPDR S&P 500 ETF Trust and the total market between 2023-03-17 and 2023-04-21. Feeling bearish? So is the SPY ETF! Put/Call ratios were mostly above 1, meaning investors bought more put options than call options.
Base metals prices in the global markets witnessed a mixed sentiment in the first quarter of 2023. Though copper and aluminium managed to hold moderate gains, other metals like zinc, lead, and nickel lost momentum on an uncertain demand outlook. The reopening of China’s economy and better-than-anticipated industrial growth in Europe and the US lifted
A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023. According to the notice issued by local Chinese authorities, Changshu Local Financial Supervision Bureau and the Changshu Municipal Bureau of Finance,
Share: S&P Global PMI figures ease recessionary fears, boost US economy. Traders’ moods fluctuating to risk-on/off dominated the New York session. EU’s PMI results are mixed; manufacturing activity shranks, while Services and Composite Indices exceed expectations. Markets remain cautious amid uncertain rate outlooks from the Fed and the ECB. The EUR/USD prepares to finish the
The USDCHF moved to a new low for the week ahead of the US flash PMI data. The prior low was a 0.8920. The new low extended to 0.8907. However, that break was short-lived and the data release led to a bounce higher and to a new session high at 0.89535. That is the good
BNP Paribas Research discusses its expectations for next week’s BoJ policy meeting. . “We expect the Bank of Japan to keep its policy unchanged at its first meeting under its new leadership. We see a good chance of the forward guidance being revised to a simpler and more neutral one, but the basic message will