New Delhi: Gold in the national capital on Tuesday was marginally down by Rs 3 to Rs 45,258 per 10 grams inline with weak global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,261 per 10 grams. Silver gained Rs 40 to
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst performing so far, worse than even commodity currencies. Selling in European crosses is clearly weighing
USD/CAD down 0.6% to 1.2746 on the day Risk trades are faring better today, finding some comfort after the meltdown yesterday in the wake of Evergrande/China fears. US futures are pointing higher and that is helping to keep sentiment more buoyed as we get into European morning trade. As such, commodity currencies are leading the
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GBP/USD is poised to reach the 1.3622 55-week moving average. Below here lies the 1.3571 July low. Further falls are set to be seen on a failure to hold above this level, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. One-month highs at 1.3893/1.3914 provide overhead resistance “GBP/USD is poised to
What to look for Tomorrow will see the FOMC meeting and here are some of the key factors to consider going into the event. First of all where are we at regarding tapering? Last jobs print means a September taper is highly unlikely The August jobs print came in +500k below expectations at +235K vs
TOKYO: Oil prices rose on Tuesday as analysts pointed to signs of US supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 52 cents or 0.7% to $74.44 a barrel by 0212 GMT,
Markets are generally in deep risk-off mode today, as China property fears spread from Hong Kong stocks to European to US. Yen remains the strongest one as rally extends, which Swiss Franc is trying to catch up. Dollar is is losing some ground but stays much better than others. Canadian Dollar is currently the worst
First time below the 100-dma in the Biden era The S&P 500 hasn’t been below the 100-day moving average since late October. Even then it was only for a few days. Before that you need to go back to May 2020 for a sustained stretch below the key level, which is at 4326 today. The
USD/CAD continues to unwind. AUD/USD flat US equities are re-testing the opening levels but other markets are showing more confidence. The S&P 500 is down 71 points to 4360 and that’s just 4 points from the spike-low at the open. Meanwhile, the FX market is showing a bit more optimism. USD/CAD is at 1.2803 after
Data from blockchain analytics firm Chainalysis suggests that Bitcoin (BTC) may not be the hedge against inflation that many seem to believe it is. “Right now, we can’t show a statistically significant correlation between inflation in the US and Bitcoin prices, but we know anecdotally that many people invest in Bitcoin as a hedge against inflation,” Chainalysis’ head
NEW DELHI: Guar seed prices on Monday went down by Rs 175 to Rs 5,800 per 10 quintal in futures trade. On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery was trading at Rs 5,800 down by Rs 175, or 2.83 per cent per 10 quintal with an open interest of
EUR/USD remains on track to close the day flat. US Dollar Index lost its momentum amid plunging bond yields. Flight-to-safety continues to dominate financial markets at the start of the week. The EUR/USD pair started the new week under modest bearish pressure and dropped to its lowest in more than three weeks at 1.1700. With
Economic developments since the last meeting have raised concerns of “stagflation” in the UK, i.e. slow growth with strong inflation. As the main constraint to growth is supply chain, we do not expect this to derail BOC’s monetary policy stance. We expect the central bank to vote unanimously to leave the Bank rate unchanged at
Third time’s the charm for sellers? The pair is down 0.4% on the day to fresh lows in a month, falling to 85.70 and the drop back below the 200-day moving average (blue line) now calls into question key daily support from the April low @ 85.42. However, the bounce was not all too significant
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