News

Gold prices fell more than 1% on Monday, hurt by a risk-on rally in equities and profit-taking by investors after a sharp rally in the previous session over expectations that the U.S. Federal Reserve could cut interest rates in September. Spot gold was down 1.5% to $2,354.59 per ounce as of 12:01 p.m. ET (1601

Sterling strengthened broadly today, support by comments from Jonathan Haskel, a known hawk on BoE’s MPC. Haskel indicated his preference to maintain interest rates until there is clear evidence that inflationary pressures have subsided sustainably. This stance has introduced some uncertainty regarding the widely anticipated BoE rate cut in August. While many economists still expect

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

LONDON -Oil prices for Brent crude held above $87 a barrel on Thursday, near their highest level since late April after data the previous day showed a decline in U.S. inventories. Brent crude futures were down 29 cents, or 0.3%, at $87.05 a barrel by 1323 GMT. U.S. West Texas Intermediate (WTI) crude futures fell

Dollar remains subdued today, but selling momentum has turned weak. With US markets closed for the holiday, trading activity is expected to be light. Meanwhile, traders are also gearing up for tomorrow’s key US non-farm payroll data, which will be crucial. Further cooling in the job market and wage growth is needed to give Fed

Over the weekend we had the official PMIs The Caixin / S&P Global Manufacturing PMI out now is the second Manufacturing PMI for June 2024 . Comes in at 51.8, the highest since May of 2021 and the eighth consecutive reading above 50 expected 51.2, prior 51.7 From the report, in brief: Demand also rose,

Weak looking spot gold recovered on Thursday and Friday ahead of the key US PCE inflation data due Friday. Spot gold managed to recover nearly 2% from the weekly low of $2293 as it rallied to $2339 level; however, the metal gave back some of its gains on the much awaited US PCE inflation data

Yen remained in the spotlight last week, dominating headlines even as some significant global inflation data also moved markets. The Japanese currency continued its downtrend, reaching multi-decade lows. Despite the prolonged decline, Japanese authorities refrained from intervening directly in the markets. However, the looming threat of intervention kept traders cautious, resulting in a more controlled

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Oil prices inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict. The American Petroleum Institute (API) on Tuesday reported U.S. crude oil stocks rose by 914,000 barrels, market

Yen is drawing significant attention again today as it plummeted past the crucial 160 mark against Dollar, and hit its lowest level in over 37 years. Market participants are vigilantly watching for any signs of intervention from Japanese authorities, yet no action has been taken so far. It should be emphasized again that the tone

The week is coming to a close with the USD being the strongest of the major currencies. The JPY is the weakest.The gains in the greenback today were helped by stronger-than-expected flash PMI data that saw services index rise to 55.1 vs 53.7 expected, and the manufacturing rise to 51.7 above estimate of 51.0. For

After a brief pause, silver prices remained in the limelight followed by feeble US economic numbers, which fuelled hopes that the US Federal Reserve would cut interest rates this year. In the key domestic futures market, prices were placed well above Rs 90,000 a kg level while it crossed the key $30-level mark in the

Yen ended as the runaway loser last week as its decline reaccelerated towards the end. With the crucial 160 level against Dollar now within reach, market participants are keenly watching to see if Japan will intervene soon to prop up the Yen, or just let it depreciate further. Swiss Franc was the second weakest currency

I posted info on this yesterday as a heads up, doing so again. U.S. markets will be closed Wednesday for the Juneteenth holiday. NYSE and Nasdaq will be closed The Securities Industry and Financial Markets Association (SIFMA) is recommending the US Bond market close that day. So it is. FX desks will be closed, perhaps

MCX Gold August futures contracts on Tuesday opened 0.28% or Rs 200 higher at Rs 71,650 per 10 grams while silver July contracts opened 0.37% or Rs 332 higher at Rs 89,152/kg as both metals traded flat. Gold and silver prices recovered from their lows amid bargain buying at lower levels as domestic and international

Swiss Franc breaks higher in early US session as benchmark treasury yields in both the US and Europe plummeted. This rise was partly triggered by US retail sales data coming in much weaker than anticipated. Additionally, investor sentiment in Europe remains fragile due to ongoing political risks in France. On the geopolitical front, Russian President

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not