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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
Dollar soft as markets brace for data fest; yen under pressure The dollar was tentative on Tuesday as traders resisted placing large bets ahead of a slew of economic data this week, while the yen struggled near levels that triggered intervention last year. The dollar index, which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. That view gained more traction in the wake ...
Dollar soft as markets brace for data fest; yen under pressure
Dollar soft as markets brace for data fest; yen under pressure
Source: Reuters
29/08/2023 9:12:36 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 may inch up tracking US Treasury yields fall, soft dollar The Indian rupee is expected to advance on Tuesday in the wake of a pullback in U.S. Treasury yields and the dollar in the lead-up to a slew of key economic data. Non-deliverable forwards (NDF) indicate rupee will open slightly higher to the U.S. dollar from 82.63 in the previous session. "We think it will be a better opening (for the rupee) than NDF is suggesting," a forex trader at a bank said. "Having said that, it will be a very quiet session with an intraday range...
Rupee may inch up tracking US Treasury yields fall, soft dollar
Rupee may inch up tracking US Treasury yields fall, soft dollar
Source: Reuters
29/08/2023 9:02:51 AM
Through The Lens - Jerome Powell`s Jackson Hole Speech Signals Another Hike By Tata Mutual Fund Inflation • Fed has tightened policy significantly over the past year, which has helped inflation to move down from its peak. • Core PCE inflation, the Fed’s key inflation measure, has gradually receded to 4.3% YoY as of July 2023, down from its peak of 5.4% YoY in February 2022. • Fed’s inflation objective remained unchanged at 2%. • Fed Highlighted the welcome declines in goods inflation and a probable decline in shelter inflation, but also emphas...
Through The Lens - Jerome Powell`s Jackson Hole Speech Signals Another Hike By Tata Mutual Fund
Through The Lens - Jerome Powell`s Jackson Hole Speech Signals Another Hike By Tata Mutual Fund
Source: PR Agency
28/08/2023 4:14:59 PM
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
Valuations in small caps segment approaching risky levels, say analysts An unhealthy trend in the market is the sustained rise in the prices of many small-and micro-cap stocks, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. This is partly aided by the sustained flow of funds into the small-cap segment. Valuations in the segment are approaching risky levels. Safety is now in large-caps, he added. The market is delicately poised waiting for triggers. The transient role of sentiments was evident on Thursday when the market cou...
Valuations in small caps segment approaching risky levels, say analysts
Valuations in small caps segment approaching risky levels, say analysts
Source: IANS
25/08/2023 11:30:58 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
Dollar loiters at two-month peak ahead of Jerome Powell speech The U.S. dollar sat at an over two-month peak on Friday, on course for its sixth straight week of gains as markets await a speech from Federal Reserve Chair Jerome Powell to gauge the path of monetary policy. Investors will parse through Powell's address on monetary policy at the Jackson Hole Economic Policy Symposium at 10:05 a.m. ET (1405 GMT) to better understand whether the Fed is done with rate hikes and how long it plans to keep rates elevated. The dollar index, which measures...
Dollar loiters at two-month peak ahead of Jerome Powell speech
Dollar loiters at two-month peak ahead of Jerome Powell speech
Source: Reuters
25/08/2023 9:03:47 AM
Rupee winning run to pause on dollar rally ahead of Powell's speech The Indian rupee is expected to decline on Friday, halting a three-day winning streak, after the dollar index reached a two-month high on weak risk appetite and ahead of Federal Reserve Chair Jerome Powell's speech. Non-deliverable forwards indicate rupee will open at around 82.62-82.64 to the U.S. dollar compared with 82.5725 in the previous session. The rupee climbed to a three-week high of 82.3625 on Thursday. The drop back below 82.50 (after reaching near 82.36) "has mor...
Rupee winning run to pause on dollar rally ahead of Powell's speech
Rupee winning run to pause on dollar rally ahead of Powell's speech
Source: Reuters
25/08/2023 9:00:35 AM
Oil heads for weekly fall on demand worries, dollar strength Oil prices fell slightly in early Asian trade on Friday, on track for a weekly decline as weak manufacturing activity hurt the global demand outlook and the dollar remained buoyant. Brent crude fell 16 cents, or 0.2%, to $83.20 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude fell 18 cents, or 0.2%, to $78.91 a barrel. Crude prices are set to fall between 2%-3% for the week, a second consecutive week of decline. Oil settled modestly higher in the previous session after ...
Oil heads for weekly fall on demand worries, dollar strength
Oil heads for weekly fall on demand worries, dollar strength
Source: Reuters
25/08/2023 8:56:52 AM
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms Asian stocks sold off and the dollar scaled an 11-week peak against major peers on Friday, as investors braced for the risk of a hawkish tilt from Federal Reserve Chair Jerome Powell at Jackson Hole. U.S. yields stabilised below 14-year highs. Crude oil found its footing around one-month lows, but remained on course for a second weekly decline amid a firmer dollar and simmering China-centered worries about global growth. Meanwhile, the People's Bank of China set a much stronger-than...
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms
Source: Reuters
25/08/2023 8:54:04 AM
Rupee surges against US dollar on Thursday Indian rupee surged against the US dollar on Thursday tracking firm domestic equities and retreat in American currency overseas. Meanwhile, many investors are eagerly awaiting US Fed Chair Jerome Powell's speech at the Jackson Hole Symposium for more clues about the economy and interest-rate outlook. Rupee improved further as tepid US PMI data fuelled expectations that the US central bank would end its tightening campaign to avert a recession. Moreover, fresh foreign fund inflows into cap...
Rupee surges against US dollar on Thursday
Rupee surges against US dollar on Thursday
Source: Accord Fintech
24/08/2023 12:09:19 PM
Oil prices fall on weak economic data, interest rate worry Oil prices slipped in early Asian trade on Thursday as weak manufacturing data in major economies outweighed optimism around a larger-than-expected drop in U.S. crude stocks. Markets are also looking for hints on the outlook for how long interest rates will remain at current levels ahead of a speech by Federal Reserve Chair Jerome Powell at a central bank symposium in Jackson Hole, Wyoming, starting on Thursday. Brent crude fell 27 cents, or 0.3%, to $82.94 a barrel by 0002 GMT, while U...
Oil prices fall on weak economic data, interest rate worry
Oil prices fall on weak economic data, interest rate worry
Source: Reuters
24/08/2023 9:08:42 AM
Soft data drags back dollar ahead of Jackson Hole The dollar nursed a sharp pullback against Asian currencies on Thursday, after softer-than-expected global economic data muddied the interest rate outlook and pushed down U.S. yields ahead of the Federal Reserve's Jackson Hole symposium. The Australian dollar, which has been taking a battering for a few months on signs of China's slowdown and resilience in the U.S., jumped 0.9% overnight after U.S. manufacturing and services PMIs missed expectations. "Weaker than expected ....
Soft data drags back dollar ahead of Jackson Hole
Soft data drags back dollar ahead of Jackson Hole
Source: Reuters
24/08/2023 9:04:16 AM
Gold near 2-week highs as market eyes rate cues at Jackson Hole meet Gold prices hovered near two-week highs on Thursday, lifted by a retreat in the U.S. dollar and Treasury yields as investors waited to see what interest rate signals the U.S. Federal Reserve could send at its annual Jackson Hole meeting. FUNDAMENTALS * Spot gold was up 0.2% at $1,917.50 per ounce by 0124 GMT, close to its highest level since Aug. 11 hit on Wednesday. U.S. gold futures were little changed at$1,945.80. * The Federal Reserve is holding its annual symposium in Jackson Ho...
Gold near 2-week highs as market eyes rate cues at Jackson Hole meet
Gold near 2-week highs as market eyes rate cues at Jackson Hole meet
Source: Reuters
24/08/2023 9:00:15 AM
Asia stocks track Wall Street rally as treasury yields retreat Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally. A round of soft surveys on manufacturing had also revived hopes central banks were done tightening, though that might change depending on what clues about interest rates Federal Reserve Chairman Jerome Powell gives at an annual central bank summit in Jackson Hole, Wyoming, on Friday. "Equities rallied a...
Asia stocks track Wall Street rally as treasury yields retreat
Asia stocks track Wall Street rally as treasury yields retreat
Source: Reuters
24/08/2023 8:52:39 AM
Rupee strengthens against US dollar on Wednesday Indian rupee strengthened against the US dollar on Wednesday, despite cautious mood ahead of the BRICS summit and US Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium this week for clues about the future path of interest rates. Softness in the American currency and a string of supportive measures in China supported rupee’s uptrend. However, Foreign Institutional Investors were net sellers in capital markets as they offloaded shares worth Rs 495.17 crore on Tuesd...
Rupee strengthens against US dollar on Wednesday
Rupee strengthens against US dollar on Wednesday
Source: Accord Fintech
23/08/2023 11:34:18 AM
Dollar hovers near two-month high, yen near 146/$ The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention. The dollar index, which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. The index is up 1.6% in August and is on course to snap its two-month losing streak...
Dollar hovers near two-month high, yen near 146/$
Dollar hovers near two-month high, yen near 146/$
Source: Reuters
23/08/2023 9:13:04 AM
Rupee`s recovery to stall on dollar strength before Jackson Hole meeting The Indian rupee is likely to decline on Wednesday, weighed down by the rise in the U.S. dollar ahead of the key meeting of central bankers in Jackson Hole later this week. Non-deliverable forwards indicate the rupee will open at around 82.98-83.02 to the U.S. dollar, compared with its close of 82.9350 in the previous session. It "was always expected to be a challenge" for the rupee to hold above 83, a forex trader at a Mumbai-based bank said. The rupee "will spend mor...
Rupee`s recovery to stall on dollar strength before Jackson Hole meeting
Rupee`s recovery to stall on dollar strength before Jackson Hole meeting
Source: Reuters
23/08/2023 9:05:58 AM
Asian shares sit tight ahead of Nvidia results, yields near highs Asian shares held tight ranges on Wednesday as investors awaited results from tech darling Nvidia to see if the sector's lofty valuations can withstand a jump in bond yields, while still gloomy factory readings from Japan left sentiment fragile. S&P 500 futures climbed 0.3% while Nasdaq futures rose 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1%, hovering not far away from its nine-month trough hit just two sessions ago. Japan's Nikkei rose...
Asian shares sit tight ahead of Nvidia results, yields near highs
Asian shares sit tight ahead of Nvidia results, yields near highs
Source: Reuters
23/08/2023 8:50:15 AM
Gold finds support despite surge in US bond yields Gold prices firmed above recent lows on Tuesday, with the non-yielding asset holding ground despite U.S. Treasury yields powering to nearly 16-year highs as investors look ahead to central bankers' meeting this week for clues on interest rates. Spot gold held its ground at $1,894.89 per ounce by 0253 GMT, hovering above a five-month low of $1,883.70 hit last week. U.S. gold futures were flat at $1,923.50. Following a week of back-to-back declines, gold on Monday settled 0.3% higher,...
Gold finds support despite surge in US bond yields
Gold finds support despite surge in US bond yields
Source: Reuters
22/08/2023 9:09:49 AM
Soaring yields leave stocks struggling for headway Treasury yields hit new decade highs in Asia on Tuesday as traders grew wary of how long interest rates might need to stay elevated, with the higher risk-free rate putting a dampener on stocks even as beaten-down Chinese markets attempted a rebound. Benchmark 10-year U.S. Treasury yields rose about 2.5 basis points (bps) in early Tokyo trade to 4.366%, extending an overnight rise to hit their highest since 2007. [US/] Yields go up when bond prices go down. U.S. Ten-year yields are up al...
Soaring yields leave stocks struggling for headway
Soaring yields leave stocks struggling for headway
Source: Reuters
22/08/2023 9:03:13 AM
Rupee caught between further rise in US yields, yuan recovery The Indian rupee is likely to open little changed on Tuesday on the back of a recovery in the Chinese yuan and other Asian currencies despite a further rise in U.S. yields. Non-deliverable forwards indicate rupee will open near Monday's level of 83.1075. It looks like the USD/INR has settled at just above the 83 handle for now, a forex trader at Mumbai-based bank said. "The RBI (Reserve Bank of India) is averse to it (the USD/INR) making a new high, and on the other hand, yo...
Rupee caught between further rise in US yields, yuan recovery
Rupee caught between further rise in US yields, yuan recovery
Source: Reuters
22/08/2023 8:58:49 AM
Dollar hovers near highs as U.S. yields surge; PBOC bolsters yuan The U.S. dollar held close to a 10-week peak versus a basket of major peers, and near its highest since November against the yen, as Treasury yields rose made fresh post-financial crisis highs on Tuesday amid speculation U.S. rates will be stay high for longer. China's central bank bolstered the yuan by setting a much stronger-than-anticipated daily mid-point, and the currency was steady in early trade having come under mounting pressure in recent weeks due to investors' impatience...
Dollar hovers near highs as U.S. yields surge; PBOC bolsters yuan
Dollar hovers near highs as U.S. yields surge; PBOC bolsters yuan
Source: Reuters
22/08/2023 8:51:19 AM
Rupee trades flat against the US dollar on Monday Indian rupee was trading flat against the US dollar on Monday tracking gains domestic equities and selling of the American currency by exporters and banks. Investors are awaiting Federal Reserve's Jackson Hole speech this week, where US Federal Reserve Chair Jerome Powell is expected to offer more signals on the path of US interest rates. Foreign Institutional Investors were net sellers in the capital markets on Friday as they offloaded shares worth Rs 266.98 crore, exchange data showed. ...
Rupee trades flat against the US dollar on Monday
Rupee trades flat against the US dollar on Monday
Source: Accord Fintech
21/08/2023 11:57:47 AM
FPI selling in cash market so far in August likely to continue The rally in global markets, driven by the US economy’s soft landing narrative, appears to be losing steam, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The major headwinds for the markets now come from the rising dollar and bond yields. The US 10-year bond yield at 4.25 per cent is a major headwind for equity markets since this risk-free return is hugely attractive particularly when CPI inflation in the US is down to 3 per cent. The FPI selling...
FPI selling in cash market so far in August likely to continue
FPI selling in cash market so far in August likely to continue
Source: IANS
21/08/2023 11:36:02 AM
Gold near 5-month lows as focus turns to Jackson Hole summit Gold prices steadied above 5-month lows on Monday after declining in the previous five sessions, as investors saddled up for central bankers' gathering in Jackson Hole, Wyoming this week, for outlook on economy and interest rates. FUNDAMENTALS * Spot gold was flat at $1,888.36 per ounce by 0124 GMT, while U.S. gold futures added 0.1% to $1,917.70. * Prices dropped to their lowest since mid-March at $1,883.70 last week, as buoyant economic data raised bets for higher-for-longer U....
Gold near 5-month lows as focus turns to Jackson Hole summit
Gold near 5-month lows as focus turns to Jackson Hole summit
Source: Reuters
21/08/2023 9:21:09 AM
Rupee likely to decline on yuan-led weakness in Asia fx The Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields. Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar, compared with 83.1025 in the previous session. The rupee has been flirting with the record low of 83.29 but has been avoiding amid intervention by the Reserve Bank of India. Despite the RBI's efforts, it "does feel inevitable" that the rupee wi...
Rupee likely to decline on yuan-led weakness in Asia fx
Rupee likely to decline on yuan-led weakness in Asia fx
Source: Reuters
21/08/2023 9:08:51 AM
Dollar gains intact as China disappoints, traders eye Jackson Hole The dollar began on a firm footing on Monday, following five straight weeks of gains, as investors looked ahead to the Federal Reserve's Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears. The dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer. In early trade, the...
Dollar gains intact as China disappoints, traders eye Jackson Hole
Dollar gains intact as China disappoints, traders eye Jackson Hole
Source: Reuters
21/08/2023 8:57:48 AM
Asia stutters as China doles out meagre rate cut Asian markets stumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on, continuing Beijing's run of disappointing stimulus steps. China's central bank trimmed its one-year lending rate by 10 basis points and left its five-year rate unmoved, a surprise to analysts who had expected cuts of 15 basis points to both. Disappointment at the meagre move saw Chinese blue chips ease 0.3%, while the Australian dollar took a dip as a liquid proxy f...
Asia stutters as China doles out meagre rate cut
Asia stutters as China doles out meagre rate cut
Source: Reuters
21/08/2023 8:51:37 AM
Gold off 5-month lows; heads for fourth weekly decline on Fed rate fears Gold edged up from 5-month lows on Friday as the U.S. dollar and bond yields slightly fell from highs, but bullion was set for its fourth consecutive weekly decline on concerns over the Federal Reserve's higher-for-longer interest rate outlook. FUNDAMENTALS * Spot gold gained 0.2% to $1,892.70 per ounce by 0141 GMT, after touching its lowest since mid-March on Thursday. U.S. gold futures rose 0.4% to $1,923.20. * Benchmark 10-year U.S. Treasury yields fell from their highest leve...
Gold off 5-month lows; heads for fourth weekly decline on Fed rate fears
Gold off 5-month lows; heads for fourth weekly decline on Fed rate fears
Source: Reuters
18/08/2023 9:00:55 AM
Asian stocks hit 9-month lows on worries over China economy, US rates Asian shares slid to nine-month lows on Thursday, while the dollar was at two-month peak as fears over China's sluggish economic recovery and concerns that the Federal Reserve may still raise interest rates rattled investors. MSCI's broadest index of Asia-Pacific shares outside Japan slid to 495.03, its lowest since Nov. 29. It was last down 1.14% at 497.11, with the index down 8% for August and set for its worst monthly performance since September. Losses were broad-based acros...
Asian stocks hit 9-month lows on worries over China economy, US rates
Asian stocks hit 9-month lows on worries over China economy, US rates
Source: Reuters
17/08/2023 8:49:38 AM
Markets see more than 90% chance of US Fed pausing rate hike next month US Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes, CNN reported. It’s clear the central bank has become divided. But right now, financial markets see more than a 90 per cent chance the central bank will agree to pause rate hikes n...
Markets see more than 90% chance of US Fed pausing rate hike next month
Markets see more than 90% chance of US Fed pausing rate hike next month
Source: IANS
14/08/2023 9:16:34 AM
Gold gained on Fitch downgrade US credit rating The credit rating downgrade of the US by Fitch resulted in gold prices gaining slightly, said a senior official of Geojit Financial Services. “Gold prices slightly gained after the US government’s credit rating was downgraded by Fitch. Usually, economic uncertainties and dollar volatility can have significant impacts on the price and demand for gold as it is considered a safe-haven asset. The rating downgrade of the world’s largest economy tends investors to park their m...
Gold gained on Fitch downgrade US credit rating
Gold gained on Fitch downgrade US credit rating
Source: IANS
2/08/2023 3:42:31 PM
Gold subdued on dollar strength as markets await economic data Gold prices edged lower on Tuesday as the U.S. dollar climbed, while investors looked forward to key economic data this week for signs on how long the interest rates could keep rising to quell sticky inflation. Spot gold was down 0.1% at $1,961.49 per ounce by 0343 GMT, while U.S. gold futures dropped 0.5% to $1,961.10 per ounce. Gold prices ended July 2.3% higher, the biggest monthly rise in four months on expectations that an end to the rate-hiking cycle by global central banks was ne...
Gold subdued on dollar strength as markets await economic data
Gold subdued on dollar strength as markets await economic data
Source: Reuters
1/08/2023 11:01:03 AM
Rupee hopeful of recovery on back of uptick on Asia FX The Indian rupee will be looking to recover on Monday, tracking the move higher in Asian peers on better-than-expected China data. Non-deliverable forwards indicate the rupee will inch up to the U.S. dollar at open from 82.2475 in the previous session. The domestic currency on Friday had its worst session in just under two months. With Asian currencies doing well to begin the week and risk holding up, the rupee "will be hoping for a mini recovery", a forex trader at a bank sai...
Rupee hopeful of recovery on back of uptick on Asia FX
Rupee hopeful of recovery on back of uptick on Asia FX
Source: Reuters
31/07/2023 9:07:34 AM
Yen advances on Bank of Japan policy tweak speculation, dollar steady The yen strengthened on Friday as speculation mounts that the Bank of Japan could tweak its yield curve control policy later in the day, while the dollar held on to its overnight gains after better-than-expected U.S. economic data. The BOJ is widely expected to keep ultra-low interest rates later on Friday but investors are eyeing the possibility it makes minor tweaks to extend the lifespan of its yield control policy. The Nikkei newspaper reported the central bank will maintain its 0.5...
Yen advances on Bank of Japan policy tweak speculation, dollar steady
Yen advances on Bank of Japan policy tweak speculation, dollar steady
Source: Reuters
28/07/2023 9:07:28 AM
Oil prices open lower on demand concerns, remain on track for weekly gain Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data. Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a barrel, on track for a 5.2% weekly increase. Oil rose last session as fears of a global economic slowdown were eased by strong earnings reports and better-than-expected U.S. economic data. U.S. se...
Oil prices open lower on demand concerns, remain on track for weekly gain
Oil prices open lower on demand concerns, remain on track for weekly gain
Source: Reuters
28/07/2023 8:51:32 AM
Stocks slip, yen surges on speculation of Bank of Japan policy tweak Asian stocks were off five-month highs and the yen extended a sharp rally on Friday with speculation that the Bank of Japan could take another small step toward dismantling its super-easy stimulus policies. The BOJ sets policy later in the session. The Nikkei newspaper reported, without citing sources, that policymakers will discuss tweaking the yield control policy to allow 10-year government bond yields above a 0.5% cap in some circumstances. The yield leapt to 0.505% in early trade. ...
Stocks slip, yen surges on speculation of Bank of Japan policy tweak
Stocks slip, yen surges on speculation of Bank of Japan policy tweak
Source: Reuters
28/07/2023 8:47:16 AM
Gold hits 1-week high on softer dollar after Jerome Powell's comment Gold prices rose to a one-week high on Thursday, supported by a slightly weaker dollar, while traders digested fairly balanced comments from U.S. Federal Reserve Chair Jerome Powell after a widely expected interest rate hike. Spot gold was up 0.3% at $1,977.13 per ounce, as of 0352 GMT, after earlier hitting its highest since July 20, while U.S. gold futures rose 0.4% to $1,978.70. Gold prices could be volatile because of the Fed mentioning another rate hike for the year, with bullion p...
Gold hits 1-week high on softer dollar after Jerome Powell's comment
Gold hits 1-week high on softer dollar after Jerome Powell's comment
Source: Reuters
27/07/2023 9:52:15 AM