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Dollar edged higher in subdued holiday trading, maintaining its recent  strength but staying within a narrow range below last week’s highs against major currencies. Markets largely brushed aside the disappointing US durable goods orders data, as the series is known for its volatility. Moreover, traders are prioritizing labor market and consumption trends, which Fed views

After a hawkish guidance for a 2025 rate cut by the US Fed, Gold February futures contracts at MCX opened lower by nearly 1% on Thursday at Rs 75,941 per 10 gram, which is down by Rs 712 while silver March futures contracts were trading at Rs 88,261/kg, down by 2.3% or Rs 2,119. On

Both Sterling and Japanese yen are among the weakest-performing currencies today, following their respective central banks meetings. BoE left rates unchanged at 4.75%, but the surprise came from a dovish shift in the MPC, with three members voting for a cut. While BoE reiterated that a “gradual approach” to easing remains appropriate, rising concerns over

Gold and silver prices slumped in the national capital on Friday, with the precious metal plummeting to below the Rs 80,000-mark due to heavy selling by jewellers and stockists, according to the All India Sarafa Association. Besides, a weak trend in the international markets weighed down heavily on the bullion prices, traders said. The precious

Dollar ended as the strongest performer last week, boosted by a surge in U.S. Treasury yields following persistent inflation data. Despite expectations of another 25bps rate cut at the upcoming FOMC meeting, stubborn price pressures are likely to slow the pace of policy easing next year. Adding to the caution, inflation uncertainties under the incoming

A Fed rate cut next week is all but a given now after the US CPI report here. But before we get to that, the central bank bonanza will be making a couple of stops in Europe following the Bank of Canada decision yesterday. The SNB and ECB are the two main events to watch

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization of Petroleum Exporting Countries chopped projections for consumption growth in 2024 by 210,000 barrels a day to 1.6 million barrels

Dollar showed minimal reaction, other than some initial jitters, to November’s US CPI data, holding steady within its range as the report largely aligned with expectations. Headline inflation edged up, while core inflation remained flat, refusing to trend lower. With no surprise, the data cleared the way for a 25bps rate cut by Fed next

Data released Saturday by the People’s Bank of China revealed that it has resumed buying gold. It was the largest official buyer in the world in 2023 as it looked to be headed on a multi-year effort to diversify out of US dollars. That changed this year as officials seemingly became price sensitive as buying

Spot gold closed with a gain of $1 at $2633 on Friday. The metal was down nearly 0.40% this week, its second straight weekly loss. It traded in the range of $2613 (December 6) to $2657 (December 4). Data roundup The US employers added 227K jobs, beating the forecast of 220K, as with October data

Dollar came under pressure against European currencies following release of US non-farm payroll report, despite the data being robust overall. In contrast, the greenback held firm against Yen and Aussie, while advancing against Loonie, with the latter pressured by surprisingly large increase in Canada’s unemployment rate, signaling sharp loosening in its labor market. The NFP

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The stock has given a breakout with a strong candle, marking a 6% move in a single day, after continuously facing rejections from the resistance zone of Rs 4,693-4,785 for the last 10 days. The potential target for the stock will be Rs 5,526 as T1, with a stop loss at the Rs 4,480 price

Swiss Franc strengthened broadly after inflation data for November indicated a modest uptick, stabilizing after months of decline. Although the annual CPI reading missed market expectations, the stabilization reduces immediate pressure on SNB to implement a significant 50bps rate cut at its upcoming policy meeting this month. However, uncertainty still lingers as SNB faces the

Markets: JPY leads, USD lags US 10-year yields down 6 bps to 4.18% S&P 500 up 0.6% Gold up $13 to 2653 WTI crude oil down $0.57 to $68.00 Markets were surprisingly lively for a de facto US holiday. Bids were strong in risk assets, which got help from a report saying US restrictions on

Indian benchmark equity indices climbed on Friday after a steep drop in the previous session, driven by gains in heavyweight Reliance Industries and drugmakers, while investors also awaited economic growth data due later in the day. Meanwhile, six small and midcap stocks from the Nifty 500 index hit new 52-week highs. Here’s the list:

Yen resumed its broad-based rally during the Asian session, lifted by stronger-than-expected Tokyo inflation data. The accelerated inflation figures have reignited market speculation about another rate hike by BoJ as early as December. Overnight index swaps now suggest there is over 60% probability of a 25bps increase at this upcoming meeting. A key highlight from

Gold (XAU/USD) hourly chart The drop this week sees price take a tumble from $2,700 with the low earlier touching $2,605. That was held by the 38.2 Fib retracement level of the swing higher since the middle of November, seen at around $2,607 currently. That led to a slight bounce with price action then weaving