Another lockdown was imposed in China earlier today as covid cases there continue to spread. Huaxian residents were ordered to stay indoors with all businesses told to suspend operations. That goes along lockdowns in Anyang, Yuzhou and Xian that already cover more than 20 million people. Outbreaks in Shenzhen, Hong Kong and Tianjin — with
New Delhi: Gold in the national capital on Wednesday jumped Rs 228 to Rs 46,812 per 10 grams, reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,584 per 10 grams. “Spot gold prices for 24 carat in Delhi rose by Rs
Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday. The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%.
Gold continues to trade broadly flat on the day in the $1820 area post-hotter than expected US CPI. In an unintuitive reaction, the dollar has been weakening in recent trade, but technical resistance is stopping gold from benefitting. In wake of a broadly hotter than expected US Consumer Price Inflation (CPI) report, spot gold (XAU/USD)
The major European shares are ending higher on the day, and in the process snapping three day losing streaks (for most of the indices). The closes are showing: German DAX, +1.1% France’s CAC, +0.95% UK’s FTSE 100 +0.62% Spain’s Ibex, +0.56% FTSE MIB +0.66% The German DAX index moved down toward its 100 day moving
Overall, Fed Chair Jerome Powell’s renomination hearings seemed to be well received by the markets. US stocks closed broadly higher overnight, followed by rallies in Asian indexes. Yen and Dollar are both under some selling pressure today. On the other hand, commodity currencies are trading higher. In particular, Canadian Dollar is lifted by the rise
It was a steady sideways day for most of major FX with small ranges and not a lot of net change. GBP, EUR, NZD, CAD are all a few tics up against the US dollar while USD/CHF and USD/JPY are more or less unchanged. The focus was once again on China today, both news and
Gold prices were flat on Wednesday, as traders focused on U.S. inflation data for rate clues after less hawkish comments from the Federal Reserve chief fuelled a bullion rally last session. FUNDAMENTALS * Spot gold was little changed at $1,819.51 per ounce by 0135 GMT. U.S. gold futures were up 0.1% at $1,819.80. * Fed
U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. Graeme Jennings | Reuters Federal Reserve Chairman Jerome Powell, with a seemingly clear path to a second term heading the central bank, declared Tuesday that
With China facing an uphill battle to contain the rapid spread of the highly-contagious Omicron covid variant, Goldman Sachs economists, including Chief China economist Hui Shan, lowered their 2022 GDP growth projection for the dragon nation. Key highlights (via Bloomberg) “Goldman Sachs Group Inc. cut its forecast for China’s economic growth this year to 4.3%.”
The AUDUSD made a two week low on Friday after the nonfarm payroll report. At the low, the pair moved below its 50% midpoint of the move up from the December low at 0.71342, but quickly reversed and has not returned back to that key level since then. The low price from yesterday and the
Overall mood in the market is positive today, major European indexes and US futures trading up. The question is whether US stocks, in particular NASDAQ, could build on yesterday’s strong rebound for some more gains. Benchmark treasury yields are firm globally. Gold and Silver also recover. In the currency markets, most major pairs and crosses
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Binance Labs, the venture capital (VC) arm of the Binance cryptocurrency exchange, announced Tuesday that it will contribute to Oasis Foundation’s $200 million ecosystem development fund, sending a strong signal that major investors were still keen to back emerging projects on alternative blockchain networks. With the investment, Binance Labs joins other prominent VC firms in
58 new covid cases were reported today in Anyang and the city of 5 million is now in total lockdown, with residents only permitted to leave home to get a test. The outbreak there was detected on the weekend and has been traced to a university student who traveled 600 km to the city from
Gold price in the national capital on Tuesday jumped Rs 104 to Rs 46,606 per 10 grams, in line with a rally on international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,502 per 10 grams. Silver also gained Rs 408 to Rs 59,700 per kg
Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response, in Rayburn Building on Wednesday, December 1, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Persistently high inflation combined with a labor market near full employment will push the