News

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

Gold fell in Friday’s early trade despite a lower-than-estimated print on the US inflation numbers released on Thursday. The yellow metal was trading down on the back of a stronger dollar index (DXY) and bond yields. The DXY was trading with a positive bias at 102.59 against a basket of six top currencies. Tracking cues

British Pound is showing notable strength in early European session today, buoyed by more robust than anticipated monthly and quarterly GDP figures. While the quarterly GDP has not yet bounced back to its pre-pandemic stature, the positive numbers come as a boon to BoE. This development supports the expectation that the BoE will maintain its

Prior month 47.5 New Zealand manufacturing PMI for July 46.3 The index is at the lowest level since January 2023 when it came in at 46.2. It marked the 5th straight month of contraction. In July, New Zealand’s manufacturing sector contracted, with a PMI of 46.3, marking its lowest activity since the August 2021 lockdown.

– Gold prices hovered near one-month lows on Thursday, as investors braced for the make-or-break U.S. inflation data that would shape the Federal Reserve‘s upcoming interest rate decisions. FUNDAMENTALS * Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday.

Despite an initial dip in Dollar after release of US consumer inflation data, the greenback has shown resilience against further selling pressures. The CPI figures, aligning with market predictions, bolster the possibility of Fed maintaining its current interest rates this September. However, several key considerations remain. Firstly, another round of inflation and employment data will

Here’s a snapshot of things so far today: Eurostoxx +0.8% Germany DAX +0.4% France CAC 40 +0.8% UK FTSE -0.1% S&P 500 futures +0.6% Nasdaq futures +0.7% Dow futures +0.5% It’s a solid rebound after dip buyers were dealt a blow late yesterday in US trading. The question now though is, can this carry on

Gold traded with weakness in the early trade on Thursday ahead of the US inflation data. The anticipation of the CPI numbers has kept the movement rangebound. The dollar index (DXY) was hovering over the 102 mark against a basket of six major currencies, though the bias was slightly negative. Meanwhile, from the Indian standpoint,

Most major Asian stock markets are trading in the red, echoing the downturn witnessed in the US markets overnight. An exception to the trend is Japan’s Nikkei, which surged on the back of robust earnings reports from heavyweights like Honda and oil & gas explorer Inpex. This uplifted sentiment has simultaneously weighed on Yen, causing

Prior month -46 revised 2-48 RICs housing survey for July -53 versus -50 estimate. This is the lowest since April 2009 Agreed sales balance -44 versus -36 last month. Lowest since April 2020 Near-term rental price balance +63 versus +55 last month. Highest since records began in 1999 The decline was influenced by interest rates

Oil hit new peaks on Wednesday with Brent crude touching the highest price since April, as tighter supply owing to Saudi and Russian output cuts offset concerns over slow demand from China and a report showing rising U.S. crude inventories. Top exporter Saudi Arabia last week extended its voluntary production cut of 1 million barrels

Dollar has regained some prominence in today’s trading, albeit just as a part of this week’s oscillating trends. A majority of major currency pairs and crosses are confined within yesterday’s trading ranges. The day’s lull is evident, with a notable absence of significant economic announcements from Europe and US. Additionally, leading central bankers have remained

WTI crude oil daily chart It’s certainly an impressive run as oil has come up strong after rallying since July, now rising to its best levels since November last year. WTI crude in particular has been sustaining around its 200-week moving average from March to June and even with the lack of initial excitement from

Gold price fell by Rs 70 to Rs 60,050 per 10 gram in the national capital on Wednesday amid a decline in rates of the precious metal overseas, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 60,120 per 10 gram. Silver also tumbled Rs 400 to Rs 73,600

Asian markets exhibited mild risk-off sentiment today, but with limited selloffs observed. China’s data revealed a foray into deflation, though expectation remains that this may not be a prolonged phase, especially given the milder-than-expected dip in CPI. While this doesn’t offer a significant boost in market sentiment, it’s somewhat less gloomy than anticipated. In the

New Zealand electronic credit card spending moves lower Prior month 1.0% MoM and 4.2% YoY Electronic retail sales MoM comes in at 0.0% lower than last month 0.9% (revised from 1.0%) Electronic retail sales YoY comes in at 2.2% lower than last month’s 4.2% reading. By spending category, the movements were: Consumables, up $22 million

Gold hit a four-week low on Tuesday as the dollar climbed after weaker-than-expected Chinese trade data, while caution in the run-up to U.S. inflation readings this week also kept appetite for zero-yield bullion subdued. Spot gold was down 0.4% to $1,928.61 per ounce by 1200 GMT after hitting its lowest since July 11. U.S. gold

Dollar is surging broadly in early US session as risk aversion appears to be intensifying slightly. The appears to be a reaction to Moody’s cut the credit ratings of a host of small and mid-sized U.S. banks late Monday, and changed its outlook to negative for 11 banks. 10-year yield sinks below 4% handle on