New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more
Gold prices continue to trade in subdued fashion in the $1860s with markets in wait-and-see mode pre-Fed. A hawkish surprise could send the precious metal under $1850 and towards its 200DMA in the $1830s. The fact that XAU/USD is in a bearish trend channel makes any rally more difficult. Spot gold (XAU/USD) prices are trading
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The USDJPY is taking a breather today with a 60 pip trading range. That is about half of the oversized 122 average over the last 22 trading days (about a month of trading days). The price action has been down, up, down and back up again. Looking at the hourly chart above, the lowest low
Strap yourselves in. It could be a wild ride once we get to the main event today. For now, there’s plenty of time to prepare for that. European trading today will be more of a placeholder as such, with little conviction to be really had – as has been the case for the week so
Gold prices edged lower on Wednesday, as an uptick in U.S. Treasury yields and an impending hike in interest rates by the U.S. Federal Reserve dented demand for zero-yield bullion. FUNDAMENTALS* Spot gold was down 0.1% at $1,865.31 per ounce, as of 0040 GMT. U.S. gold futures fell 0.2% to $1,866.10. * Benchmark U.S. 10-year
Australian Dollar rebounds broadly after the larger than expected rate hike by RBA, and takes up New Zealand Dollar too. But there is no clear follow through buying yet. Swiss Franc is currently the weakest one for the day, followed by Dollar and Yen. Apparently, overall development suggests steady risk sentiment, but that may not
Canned goods are displayed at a Safeway store on April 11, 2022 in San Anselmo, California. Justin Sullivan | Getty Images A measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank’s intention to hike interest rates by half a percentage in May. The core personal consumption
In this article SBUX A pedestrian carries a Starbucks branded cup in San Francisco, California, U.S., on Thursday, April 28, 2022. Starbucks Corp. David Paul Morris | Bloomberg | Getty Images Starbucks is expected to report earnings after the bell on Wednesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share:
USD/JPY has cemented around 103.00 on lower volumes in the Fx domain. A 50 bps has already priced in, so focus shifts to further guidance. An ultra-loose monetary policy by the BOJ has kept the Japanese yen on the edge. The USD/JPY pair is sustaining itself above the round level support of 103.00 in a quiet
As European traders head for the exits, the EURUSD is moving back below its 100 hour moving average at 1.05263. Adam pointed out that natural gas prices have spiked above $8.00 as additional Russians sanctions include energy threaten the global supply. That certainly is more impactful in Europe. Nevertheless, earlier today the EURUSD price moved
Bank of America Global Research discusses its expectations for tomorrow’s FOMC policy meeting. “We expect a hawkish May FOMC meeting with the Fed delivering a bigger 50bp rate hike and announcing QT, starting in June…Chair Powell will likely reiterate the need to hike “expeditiously” & restore price stability to prolong the business cycle…It will be
Akshaya Tritiya, it is very important to see how the gold prices have moved and what to expect over the next few months. There are several factors which have contributed to gold’s movement in the past few years — pandemic being a major one. Now, the focus will be shifting towards geopolitics, inflationary concerns and
Dollar is turning softer entering into US session, as traders might start to lighten up position ahead tomorrow’s FOMC rate decision. Commodity currencies are also soft, except Aussie which is supported by RBA’s hawkish rate hike. Yet, there is no clear follow through buying in Aussie. European majors, on the other hand, are trying to