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Surge in yields makes owning US stocks over bonds the most unattractive in decades The allure of owning US stocks over less risky investments is at its lowest level in decades, according to one measure, despite the equity market's race upward this year, the media reported. The benchmark S&P 500 index has gained 16 per cent this year, pushed higher by Wall Street's obsession with artificial intelligence that has propelled mega-cap technology stocks to dizzying heights, CNN reported. At the same time, hot economic data has helped push Treasury yields higher ...
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Source: IANS
9/09/2023 11:54:10 AM
Rupee strengthens against US dollar on Friday Indian rupee strengthened against the US dollar on Friday tracking firm domestic equities, pullback in US Treasury yields and a softer American currency overseas. Moreover, some senior Federal Reserve officials signalled that the US central bank would hold interest rates unchanged at its meeting in September. Foreign Institutional Investors were net sellers in the capital markets as they offloaded shares worth Rs 758.55 crore, while Domestic Institutional Investors net purchased shares to the...
Rupee strengthens against US dollar on Friday
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
8/09/2023 12:13:12 PM
Gold set for weekly dip with resilient US economy in focus Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as traders looked beyond a widely expected pause by the Federal Reserve this month to focus on persistently resilient U.S. data. Spot gold was up 0.3% to $1,924.98 per ounce by 0345 GMT, but set for a 0.7% weekly fall. U.S. gold futures rose 0.3% to $1,949.00. "Market participants are looking for other asset classes that can give them higher returns. That, at this moment, se...
Gold set for weekly dip with resilient US economy in focus
Gold set for weekly dip with resilient US economy in focus
Source: Reuters
8/09/2023 9:45:20 AM
Rupee to see some relief on pullback in US yields, dollar index The Indian rupee is expected to open higher on Friday on the back of a pullback in U.S. Treasury yields and a broadly softer dollar. Non-deliverable forwards indicate the rupee will open at around 83.12-83.14 to the U.S. dollar compared with 83.21 in the previous session. The rupee has been flirting with the record low of 83.29 and has largely avoided it, thanks to the Reserve Bank of India's (RBI) intervention. "It has been another week where the RBI has once again successf...
Rupee to see some relief on pullback in US yields, dollar index
Rupee to see some relief on pullback in US yields, dollar index
Source: Reuters
8/09/2023 9:24:43 AM
Buoyant dollar on course for its longest weekly winning streak since 2014 The dollar was headed for its longest weekly winning streak in nine years on Friday, bolstered by a resilient run of U.S. economic data that has also put the end of the Federal Reserve's rate-hike cycle into question. In Asia, traders were keenly watching moves in the Chinese currency, after the onshore yuan tumbled to a 16-year low in the previous session. The U.S. dollar index, which measures the greenback against its major peers, steadied at 105.02 in early trade, not far from th...
Buoyant dollar on course for its longest weekly winning streak since 2014
Buoyant dollar on course for its longest weekly winning streak since 2014
Source: Reuters
8/09/2023 9:17:30 AM
Gold gains as bond yields tick lower, traders await more US data Gold prices edged higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates. Spot gold was up 0.3% at $1,922.70 per ounce by 1213 GMT, after hitting a one-week low on Wednesday. U.S. gold futures were up 0.1% at $1,946.80. "Quite clearly we've seen a reversal in U.S. economic data from weakness to strength recently and that once again ad...
Gold gains as bond yields tick lower, traders await more US data
Gold gains as bond yields tick lower, traders await more US data
Source: Reuters
7/09/2023 8:20:16 PM
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday amid surging crude oil prices after OPEC+ heavyweights Saudi Arabia and Russia agreed to extend output cut till December this year, and firm American currency also put pressure on the rupee. Meanwhile, strong US services PMI data also fuelled expectations that the US Federal Reserve will keep interest rates higher for longer. Moreover, massive selling of equities by foreign investors also dampened rupee sentiments. Foreign Institutional ...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
7/09/2023 11:39:58 AM
Gold hovers near 1-week low as dollar firms on US data Gold prices lingered near a one-week low on Thursday following five consecutive sessions of losses as the dollar sat atop mid-March highs after data showed the U.S. services sector unexpectedly gained steam in August. Spot gold was steady at $1,919.68 per ounce by 0410 GMT, but still hovered close to its lowest level since Aug. 29 hit in the previous session. U.S. gold futures held their ground at $1,944.00. The U.S. dollar was perched at its highest since March 16 and the benchmark U.S...
Gold hovers near 1-week low as dollar firms on US data
Gold hovers near 1-week low as dollar firms on US data
Source: Reuters
7/09/2023 10:29:27 AM
Asia stocks slide on U.S. rate worries, dollar ascendant Asian stocks sank on Thursday, extending global equity declines after new signs of sustained inflationary pressures in the United States boosted the case for elevated interest rates for longer. The U.S. dollar hung close to the highest since mid-March against major peers, and touched a fresh 10-month top to the yen. Long-term Treasury yields hovered near two-week highs near 4.3%. Brent crude stayed above $90 amid tightening supply, adding to inflation worries. MSCI's broadest ind...
Asia stocks slide on U.S. rate worries, dollar ascendant
Asia stocks slide on U.S. rate worries, dollar ascendant
Source: Reuters
7/09/2023 9:10:10 AM
Gold slides to 1-week low on elevated US dollar, yields Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high. Spot gold was subdued at $1,925.70 per ounce by 0313 GMT, after posting its biggest one-day loss since Aug. 1 on Tuesday. U.S. gold futures dipped 0.1% to $1,951. The U.S. dollar hovered near six-month highs hit on Tuesday, while 10-year bond yields were at over one-week highs as markets weighed cu...
Gold slides to 1-week low on elevated US dollar, yields
Gold slides to 1-week low on elevated US dollar, yields
Source: Reuters
6/09/2023 9:49:27 AM
Rupee to remain below 83/USD on dollar rally, all eyes on RBI The Indian rupee is likely to weaken more on Wednesday after the dollar index rose to the highest in just under six months on weak risk and rising U.S. Treasury yields. Non-deliverable forwards indicate rupee will open at around 83.10-83.12 to the U.S. dollar, compared to 83.04 in the previous session which was a two-week low. U.S. Treasury yields rose on Tuesday with the 10-year yield now about ten basis points shy of the recent high. Expectations that the Federal Reserve will keep rates ...
Rupee to remain below 83/USD on dollar rally, all eyes on RBI
Rupee to remain below 83/USD on dollar rally, all eyes on RBI
Source: Reuters
6/09/2023 8:57:36 AM
Dollar firm on growth worries, fragile yen draws warning The dollar perched near a six-month peak on Wednesday as jitters over China and global growth dragged on risk sentiment, while the yen was close to a 10-month low, drawing the strongest warning since mid-August from Japan's top currency diplomat. The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to ke...
Dollar firm on growth worries, fragile yen draws warning
Dollar firm on growth worries, fragile yen draws warning
Source: Reuters
6/09/2023 8:50:07 AM
Gold prices tread water as markets weigh Fed policy path Gold prices edged lower on Tuesday as the dollar stood firm near recent highs, although trading was fairly muted with markets looking for more cues on the U.S. Federal Reserve's policy path after a widely expected interest rate pause this month. Spot gold was down 0.1% at $1,936.89 per ounce by 0356 GMT. U.S. gold futures fell 0.2% to $1,962.70 after a U.S. holiday on Monday. "Much remains to be seen if rate cuts in 2024 follow and to what extent," said Harshal Barot, a se...
Gold prices tread water as markets weigh Fed policy path
Gold prices tread water as markets weigh Fed policy path
Source: Reuters
5/09/2023 10:11:24 AM
Asian shares slip as China optimism fades; RBA in focus Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy, while traders awaited the outcome of a policy meeting of the Reserve Bank of Australia. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.75% lower at 511.14, moving away from 515.37, the highest level since Aug. 11 it touched on Monday. China shares clocked their best day in over a month on Monday on the back of fresh measures to help b...
Asian shares slip as China optimism fades; RBA in focus
Asian shares slip as China optimism fades; RBA in focus
Source: Reuters
5/09/2023 8:46:22 AM
Gold prices climb towards 1-month peak on Fed pause bets Gold prices climbed on Monday towards a one-month peak scaled in the previous session, supported by a slight pullback in the dollar and prospects that the U.S. Federal Reserve would take a pause from interest rate hikes this year. Spot gold gained 0.3% to $1,945.40 per ounce by 0334 GMT, after climbing to as high as $1,952.79 on Friday. U.S. gold futures added 0.2% to $1,971.70. "Gold is hovering under resistance at the $1,951 level in thin trading conditions given the U.S. holiday...
Gold prices climb towards 1-month peak on Fed pause bets
Gold prices climb towards 1-month peak on Fed pause bets
Source: Reuters
4/09/2023 9:46:18 AM
Dollar steady as traders bet Fed done with rates The dollar started Monday on a steady footing as investors assessed U.S. jobs data that showed some signs of cooling and bolstered expectations that the Federal Reserve was likely at the end of its monetary tightening cycle. Data on Friday showed U.S. job growth picked up in August, but the unemployment rate jumped to 3.8%, while wage gains moderated. The economy created 110,000 fewer jobs than previously reported in June and July. "The Goldilocks metaphor is much used and abused i...
Dollar steady as traders bet Fed done with rates
Dollar steady as traders bet Fed done with rates
Source: Reuters
4/09/2023 9:06:22 AM
Rupee to assess dollar rally despite a soft US jobs report The Indian rupee is likely to open little changed on Monday after a soft U.S. jobs report reinforced expectations that the Federal Reserve will not hike interest rates anymore, but the dollar still managed to rally. Non-deliverable forwards (NDF) indicate rupee will open at around Friday's level of 82.7150. "It's a bit confusing today. There is no doubt that the Fed will not hike in September, but then the dollar has moved up," a forex trader at a bank said. "T...
Rupee to assess dollar rally despite a soft US jobs report
Rupee to assess dollar rally despite a soft US jobs report
Source: Reuters
4/09/2023 9:00:23 AM
Asia shares extend rally as China mood turns less bleak Asian shares pushed higher on Monday as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilise the Chinese economy. A holiday in the United States made for thin trading ahead of key readings on U.S. services and Chinese trade and inflation later in the week. More policy action is also expected from Beijing, including relaxing restrictions on home buying. There was relief that em...
Asia shares extend rally as China mood turns less bleak
Asia shares extend rally as China mood turns less bleak
Source: Reuters
4/09/2023 8:53:51 AM
Indian shares set to open higher on hopes of US rate pause  Indian shares are set to open marginally higher on Monday, on hopes of a U.S. Federal Reserve rate pause later this month and strong domestic macroeconomic data. India's GIFT Nifty on the NSE International Exchange was up 0.13% at 19,572.50 at 8:11 a.m. IST. Wall Street equities were mixed on Friday after a U.S. jobs report showed a rise in unemployment, which bolstered expectations of a pause in rate hikes by the Fed in its policy decision later this month. Asian stocks edged...
Indian shares set to open higher on hopes of US rate pause
Indian shares set to open higher on hopes of US rate pause
Source: Reuters
4/09/2023 8:44:26 AM
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit   Elon Musk-run Tesla on Friday reduced prices on the Model S and X electric vehicles, with price drops of up to 19 per cent in the US. People can buy a Model S for a base price of $74,990, $3,500 less than its earlier lowest price, or a Model X for $79,990, $8,500 less, reports Electrek. “That puts the Model X below the SUV cap, making it eligible for the US Federal EV Tax Credit, said the report The “base model” now has the larger battery, with an estimate...
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Source: IANS
2/09/2023 10:15:42 AM
Rupee strengthens against US dollar on Friday Indian rupee strengthened against the US dollar on Friday, tracking firm domestic equities after India’s economy grew 7.8% in the April-June quarter YoY, the highest in the past four quarters. Meanwhile, weaker-than-expected growth and labour market data in the United States also raised expectations that the US Federal Reserve will not hike interest rates further. Investors are focusing on key US monthly jobs report due later in the day. However, foreign fund outflows and rising crude p...
Rupee strengthens against US dollar on Friday
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
1/09/2023 12:05:22 PM
Gold muted as investors focus on US jobs data for Fed's rate course Gold prices looked set on Friday to wrap up their second straight week of gains, helped by diminished chances of U.S. interest rate hikes this year after a data-filled week that concludes with the pivotal jobs report later in the day. Spot gold steadied at $1,938.92 per ounce by 0336 GMT, but was poised for a more than 1% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures were trading around $1,965.60. "The data from the U.S. has been on the soft side ...
Gold muted as investors focus on US jobs data for Fed's rate course
Gold muted as investors focus on US jobs data for Fed's rate course
Source: Reuters
1/09/2023 9:53:14 AM
Dollar set for weekly loss as crucial US jobs data looms The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. The U.S. currency dipped to a one-week low against the yen, weighed down by slumping Treasury yields, after a volatile week when overall soft economic data tempered the outlook for further Fed rate hikes. However, the greenback held on to gains made against the euro ...
Dollar set for weekly loss as crucial US jobs data looms
Dollar set for weekly loss as crucial US jobs data looms
Source: Reuters
1/09/2023 9:15:57 AM
Asia stocks edge higher as China acts on housing, yuan weakness Asian shares edged higher on Friday as China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes. U.S. consumer spending increased by the most in six months in July, but slowing monthly inflation rates cemented expectations that the Federal Reserve would keep interest rates unchanged next month. U.S August payrolls data tonight could offer more clues. ...
Asia stocks edge higher as China acts on housing, yuan weakness
Asia stocks edge higher as China acts on housing, yuan weakness
Source: Reuters
1/09/2023 8:44:25 AM
Gold firms near one-month high with US inflation data on tap Gold prices firmed near one-month highs on Thursday as a fresh set of soft U.S. data added to expectations that the Federal Reserve will pause rake hikes this year, although inflation readings due later in the day could amend this outlook. Spot gold was up 0.2% at $1,945.40 per ounce by 0331 GMT. U.S. gold futures steadied at $1,972.40. Despite this week's gains, bullion is on track for a monthly decline of nearly 1% as the U.S. dollar eyes its first monthly rise in three and U.S. T...
Gold firms near one-month high with US inflation data on tap
Gold firms near one-month high with US inflation data on tap
Source: Reuters
31/08/2023 10:05:57 AM
US economy grew more slowly in second quarter than previously estimated   The US economy grew more slowly in the second quarter than previously estimated -- a good sign for the Federal Reserve, which is attempting to cool demand to bring down price increases, a media report said. Gross domestic product, the broadest measure of economic output, rose at an annualised rate of 2.1 per cent in the second quarter, according to the Commerce Department’s second estimate released on Wednesday, CNN reported. That’s a slightly slower pace than the ...
US economy grew more slowly in second quarter than previously estimated
US economy grew more slowly in second quarter than previously estimated
Source: IANS
31/08/2023 9:38:42 AM
Euro jumps on inflation while dollar braces for jobs The euro stood at a 15-year high on the yen on Thursday on signs of sticky inflation in Europe, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy. Annual inflation in Germany and Spain barely slowed in August, against expectations, data on Wednesday showed. Traders figured it increased chances of a rate hike in Europe next month to about 50-50, and bought the euro which rose 0.4% to $1.0923. It was steady in ...
Euro jumps on inflation while dollar braces for jobs
Euro jumps on inflation while dollar braces for jobs
Source: Reuters
31/08/2023 9:03:29 AM
Oil prices up on tighter supply, China PMI in focus Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world's second-biggest economy. Brent crude futures contract for October and which expires on Thursday was up 14 cents, or 0.16%, at $86 per barrel and the more active November contract was up 10 cents, or 0.12%, at $85.34 at 0039 GMT. U.S. West Texas Intermediate crude futures gained 10 cents,...
Oil prices up on tighter supply, China PMI in focus
Oil prices up on tighter supply, China PMI in focus
Source: Reuters
31/08/2023 8:59:03 AM
Rupee to rise as dollar extends losses on US GDP growth revision The Indian rupee is expected to open higher on Thursday after the dollar index extended losses following a downward revision to U.S. economic growth in the second quarter. Non-deliverable forwards indicate the rupee will open at around 82.62-82.64 to the U.S. dollar, compared with its close of 82.7325 in the previous session. The currency has not been able to hold onto its opening gains in each of the last three sessions. It dropped to 82.80 on Wednesday. Based on the recent price ac...
Rupee to rise as dollar extends losses on US GDP growth revision
Rupee to rise as dollar extends losses on US GDP growth revision
Source: Reuters
31/08/2023 8:56:18 AM
Asian shares set for worst month since Feb on China gloom Asian shares were set for the worst month since February, with sentiment hurt by still-gloomy China factory activity, while investors were also cautious ahead of a barrage of U.S. data that could add to bets that interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Japan's Nikkei gained 0.5%, bringing its monthly loss to 2%. Data on Thursday showed China'...
Asian shares set for worst month since Feb on China gloom
Asian shares set for worst month since Feb on China gloom
Source: Reuters
31/08/2023 8:50:44 AM
Gold at 3-week high as dollar slips Gold rallied to its three-week high as the US dollar and Treasury yields slipped amidst weak economic data points, says Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services. Today focus will be on US GDP and Private payroll data, which if reported lower than expectations could further support gains for gold and silver prices, he said. Broader trend on COMEX could be in the range of $1,915-1,950 and on domestic front prices could hover in the range of Rs 59...
Gold at 3-week high as dollar slips
Gold at 3-week high as dollar slips
Source: IANS
30/08/2023 3:42:43 PM
Rupee strengthens against US dollar on Wednesday Indian rupee strengthened against the US dollar on Wednesday amid firm domestic equities. Moreover, easing interest rate concerns by the US Federal Reserve after data signalled a slowdown in the world's largest economy, also supporting rupee sentiments. Moreover, Foreign Institutional Investors were net buyers in the capital markets on Tuesday as they bought equities worth Rs 61.51 crore, exchange data showed. However, firm crude oil prices and strengthening American currency have limited...
Rupee strengthens against US dollar on Wednesday
Rupee strengthens against US dollar on Wednesday
Source: Accord Fintech
30/08/2023 11:19:00 AM
Gold near 3-week high as markets cut back US rate hike bets Gold prices hovered near three-week highs on Wednesday, as investors pared back bets of further U.S. interest rate hikes in response to soft economic readings, with more data eyed this week to analyse the outlook. Spot gold was flat at $1,936.17 per ounce by 0328 GMT, about $2 below its highest levels since Aug. 7 hit on Tuesday. U.S. gold futures steadied at $1,964.30. U.S. Treasury yields slipped to three-week lows and the dollar weakened on Tuesday, after data showed job openings dro...
Gold near 3-week high as markets cut back US rate hike bets
Gold near 3-week high as markets cut back US rate hike bets
Source: Reuters
30/08/2023 9:55:08 AM
Dollar licks wounds after jobs shock; Aussie dips as inflation cools The dollar nursed its sharpest drop in a month and a half on Wednesday, as investors bet that softer-than-expected U.S. jobs data reduced the chances of further Federal Reserve rate hikes. The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S. currency. The Australian dollar dropped from near a two-week peak after inflation there cooled by more than economists predicted...
Dollar licks wounds after jobs shock; Aussie dips as inflation cools
Dollar licks wounds after jobs shock; Aussie dips as inflation cools
Source: Reuters
30/08/2023 8:59:51 AM
Asian shares hit two-week high on Fed pause bets, China boost Asian equities rose on Wednesday and the dollar wobbled as weak U.S. labour data bolstered bets that the Federal Reserve was likely done with its interest rate hikes, while beaten-down China stocks rose for a third straight day. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.86% to a two-week top and is on a three-day winning streak. The index though is down 6% in August and set for its worst monthly performance since February. Japan's Nikkei was up 0.5%, whil...
Asian shares hit two-week high on Fed pause bets, China boost
Asian shares hit two-week high on Fed pause bets, China boost
Source: Reuters
30/08/2023 8:54:55 AM
Rupee set to rise as US dollar, yields retreat after weak job openings The Indian rupee is expected to advance on Wednesday after weaker-than-expected U.S. job openings prompted a decline in the U.S. dollar index and Treasury yields. Non-deliverable forwards indicate rupee will open at around 82.60 to the dollar compared with its previous close of 82.7050. In wake of the decent sized down move on (U.S.) yields and dollar, rupee will "have a good opening", a forex trader at a Mumbai-based bank said. "But after that, I think it is more than...
Rupee set to rise as US dollar, yields retreat after weak job openings
Rupee set to rise as US dollar, yields retreat after weak job openings
Source: Reuters
30/08/2023 8:54:19 AM
Gold gains support from a dip in US dollar, bond yields Gold prices gained on Tuesday as the dollar and Treasury yields retreated from recent highs ahead of crucial U.S. inflation and jobs data this week that could define the outlook for interest rates. Spot gold climbed 0.3% to $1,924.84 per ounce by 0354 GMT, hovering close to its highest level since Aug. 10 reached on Monday. U.S. gold futures gained 0.3% to $1,952.90. Gold prices are seeing short-covering by short-term speculators as a minor key resistance at $1,907 that coincided with t...
Gold gains support from a dip in US dollar, bond yields
Gold gains support from a dip in US dollar, bond yields
Source: Reuters
29/08/2023 10:00:43 AM
Oil steady as supply concerns offset worries over demand Oil prices were flat on Tuesday as worries that further possible U.S. interest rate hikes could pull down demand were countered by concerns a tropical storm off the U.S. Gulf Coast could impact supply. Brent crude was 2 cents lower at $84.40 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude shed 3 cents to $80.07. Investors await key U.S. economic data later this week that will help determine the path of interest rates this year and next. Federal Reserve Chair Jerome Powell...
Oil steady as supply concerns offset worries over demand
Oil steady as supply concerns offset worries over demand
Source: Reuters
29/08/2023 9:09:31 AM
Rupee strengthens marginally against US dollar on Monday Indian rupee strengthened marginally against the US dollar on Monday tracking firm domestic equities and strength in global markets after China's move to halve stamp duty on stock transactions to boost its struggling economy. However, hawkish comments from the US Federal Reserve Chair Jerome Powell at Jackson Hole, selling pressure by foreign investors and drop in foreign exchange reserves have dented sentiments in rupee and limited further gains. Foreign Institutional Investors were net ...
Rupee strengthens marginally against US dollar on Monday
Rupee strengthens marginally against US dollar on Monday
Source: Accord Fintech
28/08/2023 12:16:03 PM
Dollar soft as investors digest 'higher for longer' path  The dollar eased from a 12-week peak on Monday as traders weighed the U.S. monetary path after the Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months. In an eagerly awaited speech at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Powell promised to move with care at upcoming meetings as he noted both progress made on easing price pressures as well as risks from t...
Dollar soft as investors digest 'higher for longer' path
Dollar soft as investors digest 'higher for longer' path
Source: Reuters
28/08/2023 9:15:31 AM
Oil ticks higher after China moves to support flagging economy Oil prices ticked higher on Monday, along with equity markets, after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 22 cents, or 0.3%, to $84.70 a barrel by 0049 GMT while U.S. West Texas Intermediate crude was at $80.08 a barrel, up 25 cents, or 0.3%. Oil benefited from a better tone on the opening, IG market analyst Tony Sycamore sai...
Oil ticks higher after China moves to support flagging economy
Oil ticks higher after China moves to support flagging economy
Source: Reuters
28/08/2023 9:07:48 AM
Gold flat after Jerome Powell hawkish speech; focus on economic data Gold prices were flat on Monday as Federal Reserve Chair Jerome Powell's hawkish commentary doused expectations that the U.S. rate-hiking cycle was nearing an end, with investors awaiting economic data this week for confirmation on rate trajectory. FUNDAMENTALS * Spot gold was little changed at $1,915.79 per ounce by 0105 GMT, U.S. gold futures gained 0.2% to $1,943.60 as investors awaited key economic data including the U.S. non-farm payroll report on Friday. * Any thoughts that...
Gold flat after Jerome Powell hawkish speech; focus on economic data
Gold flat after Jerome Powell hawkish speech; focus on economic data
Source: Reuters
28/08/2023 9:01:46 AM
Rupee to inch up after Powell's speech, key US data eyed  The Indian rupee is likely to inch up slightly on Monday following the U.S. dollar's retreat from a three-month high after Federal Reserve Chair Jerome Powell's comments at Jackson Hole. Non-deliverable forwards (NDF) indicate rupee will open at around 82.56-82.58 to the U.S. dollar compared with 82.6475 in the previous session. "We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data,"...
Rupee to inch up after Powell's speech, key US data eyed
Rupee to inch up after Powell's speech, key US data eyed
Source: Reuters
28/08/2023 8:54:43 AM
More rate hikes still on table, says US Federal Reserve Chair Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday, the media reported. In a highly anticipated speech Friday at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming Powell said the Fed will pay close attention to economic growth and the state of the labor market when making policy decisions, CNN reported. "Although inflation has moved down from its p...
More rate hikes still on table, says US Federal Reserve Chair
More rate hikes still on table, says US Federal Reserve Chair
Source: IANS
26/08/2023 8:58:53 AM
Gold prices near two-week highs Gold prices steadied near two-week highs and was headed for their best week in six ahead of mixed economic data from the US and as market participants await comments from Governors of major central banks. including Federal Reserve Governor Powell, that could guide on future interest rates, says Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services. The US 10 year Yield after dropping by more than 2 per cent in the earlier session is inching higher once again, Do...
Gold prices near two-week highs
Gold prices near two-week highs
Source: IANS
25/08/2023 4:22:08 PM
Rupee weakens against US dollar on Friday Indian rupee weakened against US dollar on Friday tracking weakness in domestic equities and a firm American currency overseas with caution ahead of Jackson Hole speech from US Federal Reserve Chair Jerome Powell. Prospect of higher US interest rates and an upward movement in crude prices also weighed on the domestic currency. However, inflow of foreign funds into capital markets limited further fall in rupee. Foreign institutional investors were net buyers in equities on Thursday as they pur...
Rupee weakens against US dollar on Friday
Rupee weakens against US dollar on Friday
Source: Accord Fintech
25/08/2023 12:09:29 PM
Geopolitical uncertainty offers support to gold prices The ongoing geopolitical and economic uncertainties like higher inflation, China economic jitters, and the pandemic-related economic distortions amid the Russia – Ukraine war continue to offer support to the safe haven status of gold in the immediate run, said Hareesh V, Head of Commodities at Geojit Financial Services. Hopes of a demand recovery from India may also contribute to the trend. However, it is unlikely for major rallies due to uncertainties over US rate hikes and the perf...
Geopolitical uncertainty offers support to gold prices
Geopolitical uncertainty offers support to gold prices
Source: IANS
25/08/2023 10:06:27 AM
Gold bound for best week in six, spotlight on Jerome Powell's speech Gold prices steadied near two-week highs on Friday and was headed for their best week in six as U.S. Treasury yields backed off highs ahead of speeches by top central bankers including Fed Chair Jerome Powell that could guide on future interest rates. FUNDAMENTALS * Spot gold was down 0.1% at $1,915.89 per ounce by 0120 GMT, holding below its highest since Aug. 10 hit on Thursday. It has gained 1.4% for the week so far. * U.S. gold futures fell 0.2% to $1,943.90. * European Centra...
Gold bound for best week in six, spotlight on Jerome Powell's speech
Gold bound for best week in six, spotlight on Jerome Powell's speech
Source: Reuters
25/08/2023 9:24:37 AM