NEW DELHI: Gold and silver futures continued to be under pressure on Friday following the Fed announcement of tapering. Gold is often considered a hedge against higher inflation, but a Fed rate hike would increase the opportunity cost of holding gold, which pays no interest. Fed Chairman Jerome Powell said the tapering process could conclude
Sterling rebounds strongly after two BoE MPC member voted for tapering. Also, recent developments strengthened the case of modest tightening. Commodity currencies are also firmer following mild rebound in the stock markets. On the other hand, Yen, Swiss Franc and Dollar turned softer on improvement overall risk sentiment. But for now, the Pound is still
Three strong days for CAD/JPY I continue to find CAD/JPY is one of the more-fascinating charts out there. It broke down on August 20 at the peak of the delta worried but ended up finishing that day higher before jumping the next Monday. But it couldn’t get above the August high and then the Evergrande
GBP/USD Weekly Forecast: Rate laurels go the the US Federal Reserve BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after FOMC meeting. GBP/USD drops below 1.3700 in Friday trading. FXStreet Forecast Poll predicts stronger sterling. The Bank
Lumber prices begin to tick higher In the past few months, I’ve seen far too many charts overlaid with lumber trying to prove that everything is about to collapse. I can count on one hand the times that I’ve seen anything useful come out of the overlay of two unrelated charts and lumber will be
The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall in the price of Bitcoin (BTC) from $45,000 to $42,000. After the
New Delhi: Gold in the national capital on Friday declined by Rs 365 to Rs 45,141 per 10 grams reflecting an overnight plunge in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,506 per 10 grams. Silver gained marginally by Rs 21 to Rs
Market sentiment took a big turn overnight with strong rally in US indexes. Nikkei follows in Asia and reclaimed 30k handle, but other Asian markets are soft. Yen dropped notably following return of risk appetite while Dollar also weakened. On the other hand, commodity currencies rebounded notably. Yen is now the worst performing one for
Dollar keeps steadier as commodity currencies fall This comes as we see a bit more of a jittery mood among Chinese stocks, with the Hang Seng falling to the lows for the day and down by over 1% currently. The softer mood is also weighing on European indices to start the day with US futures
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The consensus is that growth in 2022 will be vigorous. However, we should not be overly positive about 2022 growth in the United States and the eurozone, in the opinion of economists at Natixis. Positive factors for growth in 2022 “The possibility that the significant savings that have been built up may be partially spent,
Working from home Bloomberg has written a few pieces recently on the rise of home working that is assumed now to be part of working landscape. The ECB announced this month that remote working for bank staff would continue until early next year. The ECB’s default solution to the spreading delta variant is remote working
TOKYO: prices rose for a fourth day on Friday, taking Brent towards three-year highs, as investors focused on tighter supplies amid strong appetite for riskier assets like crude and high hopes for recovery from the pandemic. Brent crude was up 40 cents, or 0.5% at $77.65 a barrel, by 0037 GMT, after touching a two-month
Federal Reserve Chair Jerome Powell testifies during a U.S. House Oversight and Reform Select Subcommittee hearing on coronavirus crisis, on Capitol Hill in Washington, U.S., June 22, 2021. Graeme Jennings | Reuters After Monday’s market turbulence, the Federal Reserve’s challenge will be to sound reassuring while acknowledging it’s preparing to make its first major step
In this article NKE Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong. Budrul Chukrut | LightRocket | Getty Images Nike shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts’ expectations. Its stock was recently down around 3%. Here’s
The BOE voted 9-0 to leave the Bank rate at 0.1% at the September meeting. The members voted 7-2 to keep the QE program at 895B pound. Deputy governor Dave Ramsden and external member Michael Saunders favored lowering the amount of asset purchase to 840B pound. Policymakers warned that inflation could rise above +4% by