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Gold languishes as strong US data stokes Fed rate hike woes Gold prices were flat on Wednesday, a day after breaching the key $1,900 support level on strong U.S. consumer spending data fuelling speculation that the Federal Reserve was not done with its interest rate hiking cycle. FUNDAMENTALS * Spot gold was flat at $1,900.90 per ounce by 0123 GMT, while U.S. gold futures eased 0.1% to $1,933. * Gold on Tuesday dropped to as low as $1,895.50 an ounce, its weakest level since end-June, as benchmark 10-year U.S. Treasury yields hit an almost 10...
Gold languishes as strong US data stokes Fed rate hike woes
Gold languishes as strong US data stokes Fed rate hike woes
Source: Reuters
16/08/2023 8:54:08 AM
Asian stocks notch two-week peak as focus turns to PMIs Asian stocks crept to two-week highs in cautious trade Tuesday, helped by hints of progress toward avoiding a U.S. default and by resilience in Japan's economy, with industrial sector surveys in Europe and the United States in focus later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan touched its highest since May 9, and was up about 0.3% by mid-morning. Japan's Nikkei extended its winning streak into a ninth session and rose 0.6%. S&P 500 futures...
Asian stocks notch two-week peak as focus turns to PMIs
Asian stocks notch two-week peak as focus turns to PMIs
Source: Reuters
23/05/2023 9:25:15 AM
Gold eases on firmer dollar even as debt ceiling impasse drags on Gold prices fell on Tuesday, weighed down by a stronger dollar and hawkish remarks by some Federal Reserve members, while investors kept their eyed peeled on the U.S. debt ceiling saga. Spot gold shed 0.4% to $1,962.06 per ounce by 0306 GMT. U.S. gold futures were down 0.6% at $1,965.70. The dollar index was firm, making gold less attractive for overseas buyers. [USD/] "The market typically gets fatigued of debt ceiling posturing. While initial uncertainty helps gold, the streng...
Gold eases on firmer dollar even as debt ceiling impasse drags on
Gold eases on firmer dollar even as debt ceiling impasse drags on
Source: Reuters
23/05/2023 9:14:29 AM
Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations The dollar touched a six-month high against the yen on Tuesday as expectations grew that U.S. rates will remain higher for longer and as the debt ceiling impasse kept risk sentiment fragile. Among a slew of Federal Reserve heavyweights who spoke on Monday, some hinted that the central bank still has more to go in tightening monetary policy. Minneapolis Fed President Neel Kashkari said that U.S. rates may have to go "north of 6%" in order for inflation to return to the Fed'...
Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations
Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations
Source: Reuters
23/05/2023 8:53:03 AM
Rupee likely to remain under pressure on higher U.S. yields The Indian rupee, hovering at the lowest level in nearly three months, is unlikely to see much relief following a further rise in U.S. yields. Non-deliverable forwards indicate rupee will open at around 82.84-82.85 to the U.S. dollar, compared with 82.8275 in the previous session. The local currency has declined in seven of the last eight sessions. On the one hand, USD/INR is at a level where "it would seem" there is limited upside, and on the other hand, "there is little...
Rupee likely to remain under pressure on higher U.S. yields
Rupee likely to remain under pressure on higher U.S. yields
Source: Reuters
23/05/2023 8:51:00 AM
Wall Street mixed, European stocks flat as US debt ceiling talks progress Wall Street shares were mixed and European stocks finished little-changed as talks in Washington resumed to avert a U.S. default, while gold prices retreated under pressure from hawkish remarks by Federal Reserve officials. Oil prices finished higher on demand optimism. U.S. treasury yields rose. House Republican Speaker Kevin McCarthy said Monday morning's debt talks were "on the right path" ahead of a meeting with U.S. President Joe Biden. June 1 remains a "hard dea...
Wall Street mixed, European stocks flat as US debt ceiling talks progress
Wall Street mixed, European stocks flat as US debt ceiling talks progress
Source: Reuters
23/05/2023 8:46:02 AM
Gold inches higher on US debt ceiling talks, banking sector uncertainty Gold prices edged higher on Monday after rising over 1% in the previous session following less-hawkish comments from the U.S. Federal Reserve Chair Jerome Powell, with uncertainty around the U.S. debt ceiling outcome and over the banking sector's stability adding to safe-haven bullion's gains. FUNDAMENTALS * Spot gold was up 0.2% at $1,979.79 per ounce by 0047 GMT, while U.S. gold futures were steady at $1,981.00. * The dollar index eased 0.1%, making gold more affordable for...
Gold inches higher on US debt ceiling talks, banking sector uncertainty
Gold inches higher on US debt ceiling talks, banking sector uncertainty
Source: Reuters
22/05/2023 8:57:47 AM
Gold climbs for third day as dollar pauses on Fed cues Gold extended gains to a third session on Wednesday boosted by a weaker dollar and comments from U.S. Federal Reserve Chair Jerome Powell, while markets awaited more economic data for guidance on future rate hikes. Spot gold rose 0.6% to $1,884.06 per ounce by 1005 GMT. U.S. gold futures added 0.4% to $1,883.20. The dollar index was down 0.3% on the day after Powell avoided hardening his tone on inflation despite a resilient labour market. [USD/] A weaker dollar makes gold a more attrac...
Gold climbs for third day as dollar pauses on Fed cues
Gold climbs for third day as dollar pauses on Fed cues
Source: Reuters
8/02/2023 9:29:51 AM
Dollar gains, stocks slip as Fed officials talk tough on rates The dollar rose and equity markets slid on Thursday after hawkish remarks from Federal Reserve officials reminded investors a less aggressive monetary policy is unlikely with U.S. employment data still showing a tight labor market. Nagging recession and higher interest rate worries also rattled European markets, and the pound tumbled as Britain hoped to put its disastrous recent fiscal experiment behind it with a more austere-looking budget. Markets fell in Eueope, as early optimism abo...
Dollar gains, stocks slip as Fed officials talk tough on rates
Dollar gains, stocks slip as Fed officials talk tough on rates
Source: Reuters
18/11/2022 9:23:17 AM
Indian shares track Asian peers lower on rate hike fears Indian shares opened lower on Thursday, following dour sentiment in other Asian markets for risky assets as U.S. Treasury yields surged on fears that the Federal Reserve will continue on its aggressive rate-hike path. The NSE Nifty 50 index was down 0.44% at 17,434.75 as of 0347 GMT, while the S&P BSE Sensex declined 0.38% to 58,884.30. Both indexes had risen for four straight sessions. In broader Asia, Asia-Pacific shares, excluding Japan, fell to more than two-year low, while the ...
Indian shares track Asian peers lower on rate hike fears
Indian shares track Asian peers lower on rate hike fears
Source: Reuters
20/10/2022 9:07:52 AM
Rupee may open near 83/USD; U.S. yields, yuan watched  The Indian rupee is tipped to open near its record low of 83 to the U.S. currency on Thursday, as the surge in Treasury yields and the dollar index, fuelled a broader decline in Asian currencies and shares. The rupee is expected to open at 82.98-83.02 per U.S. dollar, compared with a record low of 83.02 in the previous session. Large corporate dollar and custodial outflows had prompted a selloff in the currency toward the last one-and-a-half hour of trade on Wednesday, traders sai...
Rupee may open near 83/USD; U.S. yields, yuan watched
Rupee may open near 83/USD; U.S. yields, yuan watched
Source: Reuters
20/10/2022 8:56:22 AM
Gold prices edge lower on steady dollar, Fed rate-hike jitters  Gold prices inched lower on Wednesday as the dollar steadied, while the U.S. Federal Reserve's commitment to tightening monetary policy also weighed on zero-yield bullion's appeal. FUNDAMENTALS * Spot gold was down 0.1% at $1,650.75 per ounce, as of 0125 GMT. * U.S. gold futures were up 0.1% at $1,657.30. * The dollar index was a tad bit higher in early Asian hours, having bounced off its lowest level since Oct. 6 overnight. [USD/] * The U.S. central bank may need...
Gold prices edge lower on steady dollar, Fed rate-hike jitters
Gold prices edge lower on steady dollar, Fed rate-hike jitters
Source: Reuters
19/10/2022 9:04:24 AM
Chipmakers knock stocks ahead of U.S. payrolls, Credit Suisse up Stocks eased on Friday as Federal Reserve officials talked up the likelihood of more hefty U.S. interest rate hikes, though battered Credit Suisse Group rose after announcing a $3 billion bond buyback to steady investors nerves. Worries over the global economy deepened after chipmakers Samsung and AMD flagged a slump in demand, blaming inflation, higher interest rates and the impact of Russia's invasion of Ukraine. European chipmakers Infineon, STMicroelectronics and ASML fell in tande...
Chipmakers knock stocks ahead of U.S. payrolls, Credit Suisse up
Chipmakers knock stocks ahead of U.S. payrolls, Credit Suisse up
Source: IANS
7/10/2022 3:05:14 PM
Gold slides to 2-1/2 year low as U.S. dollar, yields climb  Gold prices dropped to their lowest level since April 2020 on Wednesday, as a rally in the U.S. dollar and Treasury yields on prospects of more aggressive rate hikes by the Federal Reserve diminished its appeal. Spot gold fell 0.6% to $1,619.79 per ounce, as of 0854 GMT. U.S. gold futures slipped 0.5% to $1,627.60. "The main factor really is the strength of the dollar, which is been supported by the ongoing Fed narrative that they will do whatever it takes to bring down the i...
Gold slides to 2-1/2 year low as U.S. dollar, yields climb
Gold slides to 2-1/2 year low as U.S. dollar, yields climb
Source: Reuters
28/09/2022 11:11:59 AM
Dollar holds firm as Powell speech day dawns The dollar held onto recent gains against the euro and sterling on Friday ahead of Federal Reserve Chair Jerome Powell's widely-anticipated speech, which traders hope will offer clues on the U.S. central bank's tightening plans. The euro was at $0.9966 in early Asian trade, having failed in several attempts this week to break back above parity against the dollar. It fell below that psychologically important level on Monday. Sterling was down 0.17% at $1.1818. Britain's energ...
Dollar holds firm as Powell speech day dawns
Dollar holds firm as Powell speech day dawns
Source: Reuters
26/08/2022 8:42:11 AM
Dollar slips as before U.S. jobs data as markets digest Fed Hawkishness NEW YORK (Reuters) - The dollar eased against most major currencies on Thursday as support from the Federal Reserve's hawkish messaging subsided a day before hotly anticipated U.S. jobs data, even as pessimism about a protracted recession ebbed. The Bank of England on Thursday raised interest rates by the most since 1995, but the British pound weakened as the central bank warned that a long recession was on its way with inflation seeing toping 13%. The dollar index fell 0.338% at 10...
Dollar slips as before U.S. jobs data as markets digest Fed Hawkishness
Dollar slips as before U.S. jobs data as markets digest Fed Hawkishness
Source: Reuters
4/08/2022 8:57:30 PM
Dollar climbs as Fed officials suggest more rate hikes to come The U.S. dollar was up against the yen on Wednesday after data showed a surprise pickup in the U.S. services industry in July, while hawkish comments from Federal Reserve officials this week also supported the greenback. The Institute for Supply Management said its non-manufacturing PMI rebounded last month from June. The increase ended three straight monthly declines. It also showed supply bottlenecks and price pressures eased, and backed up the view that the economy is not in a recession...
Dollar climbs as Fed officials suggest more rate hikes to come
Dollar climbs as Fed officials suggest more rate hikes to come
Source: Reuters
4/08/2022 8:47:41 AM
`Covid variants pose biggest threat to US economic recovery` Variants of the novel coronavirus are the biggest risk for the US economic recovery, Minneapolis Federal Reserve Bank President Neel Kashkari has said. "The biggest risks that I see to the recovery are these variants," Kashkari told the Economic Club of New York, mentioning one variant of the virus which is dominant in parts of the US and easily infects younger people, Xinhua reported. If organisations including daycare centres and schools need to be closed in response to the ...
`Covid variants pose biggest threat to US economic recovery`
`Covid variants pose biggest threat to US economic recovery`
Source: IANS
14/04/2021 9:39:16 AM