Gold prices declined by Rs 303 to Rs 49,571 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 49,874 per 10 grams. Silver also dipped by Rs 197 to Rs 57,090 per kilogram
Month: September 2022
Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline. Central banks around the world are certain to increase borrowing costs to tame high inflation this week and there is some
Dollar is trading with a slightly firmer tone in quiet Asian session. But overall, most major pairs and crosses are stuck inside Friday’s range. Trading would likely remain subdued with Japan and UK on holiday, and the calendar is light. Nevertheless, the week ahead is ultra busy with four central bank meetings and some important
The markets are relatively quiet today with Japan and the UK on holiday. Sentiment is on risk-off side, ahead of central bank rate hikes later in the week. The more notable moves are found in selloff in cryptocurrencies. Dollar is standing firm, together with Swiss Franc and Euro. Aussie and Kiwi are softer together with
GBP/USD began the week on the right foot, awaiting Fed and BoE’s monetary policy decisions. Most analysts estimate the Fed would hike 75 bps in September’s meeting. GBP/USD Price Analysis: Remains downward biased, but a break above 1.1500 could shift the bias to neutral. The British pound loses some traction against the greenback, after hitting a
US dollar losses momentum amid an improvement in risk sentiment. Wall Street turns green, US yields modestly off highs. EUR/USD continues to consolidate ahead of the FOMC meeting. The EUR/USD rose after the beginning of the American session and recently climbed to 1.0017, before pulling back to the parity area. It is posting modest losses
The USD/CNY continues to face upside pressure according to analysts from Danske Bank. They point out that the difference between interest rates in China and the US clearly favor the US dollar. Key Quotes: “USD/CNY has taken another leg higher lately on a stronger USD and wider US-China spread.” “Relative rates clearly in favour of
USD/JPY fluctuates around 143.00 amid a negative market sentiment, spurred by recession fears on Fed’s aggressive tightening path. The USD/JPY daily chart portrays buyers in control, but price action remains constrained. Short term, the USD/JPY is range-bound, trapped in the 142.60-143.60 range. The USD/JPY seesaws around 24-year highs above the 143.00 psychological level, for the
The USD/BRL is falling on Monday after posting last Friday, the highest daily close since early August. Analysts at Rabobank see the USD/BRL pair at 5.30 by the end of the year. Key Quotes: “We still believe the Fed will remain hawkish, the USD will remain holding its safe haven status, and domestically the traditional
Analysts from TD Securities see the USD/CAD pair moving to the upside and they have an idea of buying the pair at levels near 1.3300 with a target at 1.3500 and a stop-loss at 1.3180. Key Quotes: “The debt party that has supported the last two major expansions is over and the CAD will need
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Gold trades to the lowest level since April 2020 The price of gold is up around $10 on the day. The current price is trading at $1674.11. The high price reached $1680.41. THe low extended to the lowest level since April 2020 to $1654.28. The rebound has taken the price back into a swing area
USDCHF stalls at the 200 hour MA The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing above. The low in the Asian session stalled the fall in the 0.9591 to 0.9606, moved
Markets: WTI crude oil up $0.21 to $85.30 US 10-year yields down 1 bps to 3.45% Gold up $10 to $1673 S&P 500 down 28 points to 3873, or 0.7% — down 4.8% on the week NZD leads, GBP lags It could have been worse. The FedEx warning late yesterday boosted the dollar and weighed
The Canadian dollar is at an interesting spot on the global spectrum of risk assets at the moment. Domestically, it’s been a good year with strong GDP growth as the economy reopened from covid. Commodity investment has picked up and terms of trade have improved. For much of the year, that kept the loonie neck-and-neck
Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. Brent crude futures fell 22 cents, or 0.2%, to $90.62 a barrel as at 0052 GMT after sliding 3.5% to a
Gold prices hovered near a two-year low on Friday and were set for a weekly fall as an elevated dollar and prospects of aggressive U.S. rate hikes dented bullion’s appeal. FUNDAMENTALS * Spot gold was unchanged at $1,664.48 per ounce, as of 0030 GMT, and was down 3% for the week so far. Prices hit
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