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Gold steady as markets brace for US election, likely Fed rate cut Gold held steady on Monday as investors prepared for a key week for the global economy ahead of the U.S. presidential election and the likelihood of another rate cut by the Federal Reserve. Spot gold edged up by 0.1% to $2,738.32 per ounce, as of 0227 GMT. Bullion hit a record high of $2,790.15 on Thursday. U.S. gold futures were flat at $2,747.80. Uncertainty this week could benefit gold, as delays in the election outcome or a split control of the House and Senate might drive safe-h...
Gold steady as markets brace for US election, likely Fed rate cut
Gold steady as markets brace for US election, likely Fed rate cut
Source: Reuters
2024-11-04 08:51:05 am
Rupee weakens against US dollar on Monday Indian rupee weakened against the US dollar on Monday tracking weak domestic equities and rising crude oil prices, while investors are awaiting comments from Federal Reserve Chair Jerome Powell for interest rate cut clues and domestic manufacturing PMI (Purchasing Manager's Index) numbers to be released this week. Moreover, foreign funds outflows in the market also weighed on rupee sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they...
Rupee weakens against US dollar on Monday
Rupee weakens against US dollar on Monday
Source: Accord Fintech
2024-09-30 12:19:19 pm
Rupee strengthens against US dollar on Thursday Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities after the US Federal Reserve decided to cut interest rate by 0.5% after more than four years in line with market expectations. US Fed Chair Jerome Powell also indicated that the United States is on track to achieve the targeted level of inflation at 2%. Moreover, lower crude oil prices and foreign fund inflows have also supported rupee sentiments. Foreign Institutional Investors were net buyers in the ...
Rupee strengthens against US dollar on Thursday
Rupee strengthens against US dollar on Thursday
Source: Accord Fintech
2024-09-19 11:45:15 am
US Fed rate cut to boost investment and business sentiment, all eyes on India The softening of US Fed rate by 0.5 percentage point (50 bps) is a welcome step, given the strengthening US economy with stable inflation, industry analysts said on Thursday, as the focus turns to India which is the fastest-growing economy in the world.  After the rate cut decision, the US dollar turned higher, putting pressure on gold like safe commodities. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry (PHDCCI), said the US economy is expanding steadily with gro...
US Fed rate cut to boost investment and business sentiment, all eyes on India
US Fed rate cut to boost investment and business sentiment, all eyes on India
Source: IANS
2024-09-19 10:03:17 am
US Fed cuts interest rate by a half percentage point The US central bank on Wednesday announced a large half percentage point cut in the interest rate, the first reduction in four years. It comes down from 5.35 per cent to between 4.75 per cent and 5 per cent.  "Recent indicators suggest that economic activity has continued to expand at a solid pace," the Federal Reserve said in a statement. Job gains have slowed, and the unemployment rate has moved up but remains low. Inflation has made further progress toward the Committe...
US Fed cuts interest rate by a half percentage point
US Fed cuts interest rate by a half percentage point
Source: IANS
2024-09-19 09:21:33 am
Markets on tenterhooks ahead of key US jobs data  Asian shares clung to tight ranges and the dollar nursed losses on Friday, with investors on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy. As of now, oil prices are staring down their worst week in more than a year to hover just above a critical chart level, with their near-term fate depending on the payrolls report due later in the day. [O/R] MSCI's broadest index of Asia-Pacific shares outside...
Markets on tenterhooks ahead of key US jobs data
Markets on tenterhooks ahead of key US jobs data
Source: Reuters
2024-09-06 09:10:03 am
Dollar sags to one-month low vs yen as payrolls data looms The dollar slid to a one-month trough versus the yen and a one-week low on the euro on Friday, as a mixed bag of U.S. job market indicators stirred caution ahead of a crucial monthly payrolls report later in the day. A report on Thursday showed the number of Americans filing new applications for jobless benefits declined last week as layoffs remained low. That helped allay fears that the labour market was deteriorating rapidly, after figures released the previous day showed private jobs gr...
Dollar sags to one-month low vs yen as payrolls data looms
Dollar sags to one-month low vs yen as payrolls data looms
Source: Reuters
2024-09-06 09:02:46 am
India rupee gains, tracking Asian peers and on hopes of equity inflows The Indian rupee strengthened on Thursday, tracking a similar move in its Asian peers and in anticipation of MSCI-related inflows as domestic equities' weightage in the index is set to rise. The rupee closed at 83.8700 against the U.S. dollar at, up 0.1% from 83.9525 in the previous session. Asian currencies rose, while the dollar index slipped to 100.89, before recovering through the session. Indian equities' increased weightage in MSCI's emerging market index, effective...
India rupee gains, tracking Asian peers and on hopes of equity inflows
India rupee gains, tracking Asian peers and on hopes of equity inflows
Source: Reuters
2024-08-29 09:10:02 am
Dollar holds gains ahead of US inflation test The dollar steadied on Thursday as it nursed some of its steep losses from previous sessions, with traders looking ahead to a key U.S. inflation reading at the end of the week that could offer further clues on the outlook for rates there. Friday's release of the core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation - headlines a week that's otherwise been lacking on major market moving data, leaving currencies mostly ran...
Dollar holds gains ahead of US inflation test
Dollar holds gains ahead of US inflation test
Source: Reuters
2024-08-29 08:57:28 am
Gold edges down on stronger dollar, market awaits US inflation data Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut. Spot gold fell 0.4% to $2,514.11 per ounce by 0313 GMT. Bullion hit a record high of $2,531.60 on Aug. 20. U.S. gold futures were down 0.2% to $2,549.00. The dollar index was up 0.1%, diminishing gold's attractiveness for foreign currency holders. [USD/] "Market seems to be waiting for a ca...
Gold edges down on stronger dollar, market awaits US inflation data
Gold edges down on stronger dollar, market awaits US inflation data
Source: Reuters
2024-08-28 09:52:26 am
Currencies trade in tight range as market awaits more U.S. rate cues The U.S. dollar held near its lowest level in more than a year against a basket of peers on Wednesday, with sterling trading just off multi-year highs, as markets focused on clues to the size of a widely expected U.S. interest rate cut next month. Cryptocurrency bitcoin took the early Asia spotlight, dropping over 6% after breaking below support around $60,000. Meanwhile, the Aussie popped up to a multi-month high after the latest domestic consumer price data came in a tick above consen...
Currencies trade in tight range as market awaits more U.S. rate cues
Currencies trade in tight range as market awaits more U.S. rate cues
Source: Reuters
2024-08-28 08:59:00 am
US, Seoul markets down over Nvidia's underwhelming earnings result South Korean shares dropped more than 1 per cent after opening on Thursday, taking a cue from Wall Street losses prompted by an underwhelming earnings result by global artificial intelligence (AI) chip giant Nvidia.  The benchmark Korea Composite Stock Price Index (KOSPI) fell 31.62 points, or 1.18 per cent, to 2,658.21 in the first 15 minutes of trading, Yonhap news agency reported. Overnight in the United States, the Dow Jones Industrial Average fell 0.39 per cent, with the S&...
US, Seoul markets down over Nvidia's underwhelming earnings result
US, Seoul markets down over Nvidia's underwhelming earnings result
Source: IANS
2024-08-28 08:55:39 am
Rupee may weaken slightly, tracking peers; RBI, Fed view key The Indian rupee is expected to open marginally lower on Wednesday, in the wake of a decline in other Asian currencies, and is likely to hold a narrow range amid the central bank's intervention. The one-month non-deliverable forward indicated that the rupee will be a tad lower than its close of 83.9250 to the U.S. dollar in the previous session. The rupee has been directionless amid depressed volatility. Most market participants reckon its breakout from the current narrow range, whe...
Rupee may weaken slightly, tracking peers; RBI, Fed view key
Rupee may weaken slightly, tracking peers; RBI, Fed view key
Source: Reuters
2024-08-28 08:45:46 am
Currencies tread water as Middle East risks temper rate cut optimism The dollar edged higher on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partially offset investors' optimism for imminent U.S. interest rate cuts. Geopolitical risks kept early currency moves subdued, though fears of an escalating conflict following Israel and Hezbollah's major missile exchange over the weekend petered out. The yen was last 0.2% lower at 144.82 per dollar, giving up some of its safe haven gains from the prev...
Currencies tread water as Middle East risks temper rate cut optimism
Currencies tread water as Middle East risks temper rate cut optimism
Source: Reuters
2024-08-27 08:55:04 am
Rupee to wrestle with weak Asian leads, jump in oil prices The Indian rupee is expected to largely struggle on Tuesday amid a decline Asian currencies, weak risk appetite and higher oil prices. The 1-month non-deliverable forward indicated that the rupee will slightly weaker-to-flat to the U.S. dollar from its previous close of 83.90. The rupee was on Monday unable to take advantage of Federal Reserve Chair Jerome Powell's dovish shift at the Jackson Hole gathering last week. The currency had opened at 83.80, before dollar demand from impor...
Rupee to wrestle with weak Asian leads, jump in oil prices
Rupee to wrestle with weak Asian leads, jump in oil prices
Source: Reuters
2024-08-27 08:49:25 am
Asian stocks slide as geopolitical worries sap confidence Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the Middle East and supply concerns checked risk sentiment and lifted oil prices. Gold prices were just shy of a record peak, while the dollar firmed and the yen hovered near its highest in three weeks as investors sough safety amid geopolitical risks, with Israel and Lebanon's Hezbollah exchanging fire on Sunday. [GOL/] [FRX/] Also...
Asian stocks slide as geopolitical worries sap confidence
Asian stocks slide as geopolitical worries sap confidence
Source: Reuters
2024-08-27 08:46:23 am
Rupee strengthens against US dollar on Monday Indian rupee strengthened against the US dollar on Monday, tracking muted American currency in the overseas market following US Fed Chair Jerome Powell's recent speech at the Jackson Hole meeting, where he said that time has come for policy to adjust, indicating possible US rate cuts in September. Rupee improved further on foreign fund inflows. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,944.48 crore, according to e...
Rupee strengthens against US dollar on Monday
Rupee strengthens against US dollar on Monday
Source: Accord Fintech
2024-08-26 11:39:02 am
Gold prices rise on September US rate-cut expectations Gold prices firmed on Monday, aided by a weaker dollar and lower Treasury yields after dovish remarks from U.S. Federal Reserve Chair Jerome Powell cemented expectations for a September rate cut. Spot gold rose 0.4% to $2,520.39 per ounce by 0756 GMT, after gaining more than 1% in the previous session. U.S. gold futures also gained 0.4% to $2,556.00. Powell on Friday endorsed an imminent start to rate cuts, saying further cooling in the job market would be unwelcome. The dollar hover...
Gold prices rise on September US rate-cut expectations
Gold prices rise on September US rate-cut expectations
Source: Reuters
2024-08-26 09:52:22 am
Oil climbs on Mideast escalation fears, US rate cut expectations Oil prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while approaching U.S. interest rate cuts lifted the global economic and fuel demand outlook. Brent crude futures climbed 56 cents, or 0.7%, to $79.58 a barrel by 0615 GMT, while U.S. crude futures were at $75.40 a barrel, up 57 cents, or 0.75%. In one of the biggest clashes in more than 10 months of border warfare, Hezbollah fired h...
Oil climbs on Mideast escalation fears, US rate cut expectations
Oil climbs on Mideast escalation fears, US rate cut expectations
Source: Reuters
2024-08-26 09:06:56 am
Rupee to rise after Powell reinforces expectations of Fed rate cut in September The Indian rupee is expected to rise on Monday, after U.S. Federal Reserve Chair Jerome Powell comments nearly confirmed a September rate cut, spurring a further drop in the dollar. The 1-month non-deliverable forward indicated that the rupee will open at 83.80-83.82 to the U.S. dollar, compared with 83.89 in the previous session. The dollar index is near its lowest in more than a year after Powell said on Friday at the Fed's Jackson Hole symposium that "the time had come for p...
Rupee to rise after Powell reinforces expectations of Fed rate cut in September
Rupee to rise after Powell reinforces expectations of Fed rate cut in September
Source: Reuters
2024-08-26 08:56:58 am
Stocks stutter, dollar sags; Nvidia earnings in focus Major share markets turned hesitant on Monday, while the dollar and bond yields sagged ahead of inflation data that could pave the way for rate cuts in the United States and Europe, while Wall Street braced for earnings from AI darling Nvidia. Oil prices climbed after Israel and Hezbollah traded rocket salvos and air strikes on Sunday, stirring worries about possible supply disruptions if the conflict escalated. Brent rose 81 cents to $79.83 a barrel as of 0701 GMT, while U.S. crude add...
Stocks stutter, dollar sags; Nvidia earnings in focus
Stocks stutter, dollar sags; Nvidia earnings in focus
Source: Reuters
2024-08-26 08:54:55 am
Stocks surge while Treasury yields, dollars retreat after Fed signals lower rates Wall Street and global shares jumped on Friday toward all-time highs, while Treasury yields slumped and the dollar languished, after a speech by U.S. Federal Reserve Chair Jerome Powell confirmed the United States would soon begin interest rate cuts. Powell, in remarks on Friday at the annual economic symposium in Jackson Hole, Wyoming, said "the time has come" to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of ...
Stocks surge while Treasury yields, dollars retreat after Fed signals lower rates
Stocks surge while Treasury yields, dollars retreat after Fed signals lower rates
Source: Reuters
2024-08-24 08:46:33 am
Rupee strengthens against US dollar on Friday Indian Rupee strengthened against the US dollar on Friday, tracking weakness in the American currency at overseas markets and fresh foreign fund inflows into Indian capital market. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 1,371.79 crore, exchange data showed. Moreover, softening crude oil prices also supporting rupee sentiments. Meanwhile, the Reserve Bank of India released the minutes of the Monetary Policy Committee...
Rupee strengthens against US dollar on Friday
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
2024-08-23 11:28:57 am
Gold faces weekly fall as Fed's Jerome Powell grabs limelight Gold prices inched up on Friday but were set for a weekly decline after slipping from record highs, as the U.S. dollar and Treasury yields rebounded ahead of Federal Reserve Chair Jerome Powell's speech that could give clues on interest rate cuts. Spot gold rose 0.2% to $2,488.74 per ounce by 0257 GMT and U.S. gold futures gained 0.3% to $2,524.30. Bullion, which hit an all-time high of $2,531.60 on Tuesday, has fallen nearly 1% this week, hurt by a bounce in dollar index and benchm...
Gold faces weekly fall as Fed's Jerome Powell grabs limelight
Gold faces weekly fall as Fed's Jerome Powell grabs limelight
Source: Reuters
2024-08-23 09:10:57 am
Rupee lifted by gains in Asian peers, oil firms' bids cap upside  The Indian rupee rose in early trade on Friday, boosted by gains in most of its Asian peers ahead of closely watched remarks from Federal Reserve Chair Jerome Powell later in the day. The rupee was at 83.8850 against the U.S. dollar as of 10:10 a.m. IST, higher than its close of 83.9525 in the previous session. Asian currencies were mostly higher on the day, with the offshore Chinese yuan up 0.1% at 7.13, while the Thai baht rose 0.4% to lead gains. The dollar index was down sligh...
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
Source: Reuters
2024-08-23 09:08:05 am
Shares hold near record high with Powell in focus, dollar in the doldrums World shares steadied on Friday, sitting just 1% shy of all-time highs, while the dollar languished around one-year lows ahead of a speech by the world's most powerful central banker which markets will peruse for guidance on the shape of U.S. rate cuts. Europe's broad Stoxx 600 index rose 0.14% in early trading, Asian shares outside Japan nudged down 0.1%, but Japan's Nikkei gained 0.4% as investors digested inflation data and remarks from Bank of Japan governor Kazuo Ueda flag...
Shares hold near record high with Powell in focus, dollar in the doldrums
Shares hold near record high with Powell in focus, dollar in the doldrums
Source: Reuters
2024-08-23 09:05:50 am
Yen firms as BOJ's Ueda flags readiness to hike; markets brace for Powell The yen rose on Friday as traders considered comments from Bank of Japan Governor Kazuo Ueda, who sought to calm lingering nerves after a surprise rate hike last month, while markets braced for a speech from Federal Reserve Chair Jerome Powell. With the spotlight squarely on the central bankers, Ueda appeared first in Japan's parliament to explain the rate increase that had rattled investors. The yen was 0.38 % higher at 145.75 per dollar on Friday in choppy trading after Ueda reaff...
Yen firms as BOJ's Ueda flags readiness to hike; markets brace for Powell
Yen firms as BOJ's Ueda flags readiness to hike; markets brace for Powell
Source: Reuters
2024-08-23 09:00:55 am
Gold retreats from record highs as traders assess Federal Reserve rate outlook Gold prices fell on Thursday, retreating from all-time highs hit earlier this week, as the U.S. dollar ticked up ahead of U.S. jobs data and the Federal Reserve chief's speech that could offer further insights into the interest rate outlook. Spot gold fell 0.5% to $2,500.65 per ounce, as of 0243 GMT, trading below a record high of $2,531.60 hit on Tuesday. U.S. gold futures eased 0.4% to $2,537.10. The market has been fluctuating with minor gains and losses recently, indicating a ph...
Gold retreats from record highs as traders assess Federal Reserve rate outlook
Gold retreats from record highs as traders assess Federal Reserve rate outlook
Source: Reuters
2024-08-22 08:57:03 am
Dollar doldrums deepen on dovish Fed tone before Jackson Hole The dollar traded near the lowest in more than a year against the euro and sterling on Thursday as a dovish Federal Reserve and fresh signs of weakness in the U.S. job market backed the case for interest rate cuts. The dollar sagged below the closely watched 145 yen mark as U.S. Treasury yields slid, ahead of weekly jobless claims data later in the day and a hotly anticipated speech by Fed Chair Jerome Powell at the central bank's annual Jackson Hole symposium on Friday. The dollar ...
Dollar doldrums deepen on dovish Fed tone before Jackson Hole
Dollar doldrums deepen on dovish Fed tone before Jackson Hole
Source: Reuters
2024-08-22 08:40:36 am
Rupee weakens against US dollar on Wednesday Indian rupee weakened against the US dollar on Wednesday, tracking foreign fund outflows from the capital market. Foreign institutional investors were net sellers in the capital markets on Tuesday, offloading shares worth Rs 1,457.96 crore, exchange data showed. Meanwhile, investors are cautiously awaiting the US Fed's July policy meeting minutes on Wednesday and Fed Chair Jerome Powell's keynote speech at the Jackson Hole symposium later in the week. However, muted American currency ...
Rupee weakens against US dollar on Wednesday
Rupee weakens against US dollar on Wednesday
Source: Accord Fintech
2024-08-21 12:13:49 pm
Gold holds below record high as investors await clarity on Federal Reserve cuts Gold prices were trading below record high levels on Wednesday after a rally fuelled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve's latest meeting for clarity on the depth of cuts. Spot gold was up 0.1% at $2,517.38 per ounce, as of 0238 GMT, after hitting an all-time high of $2,531.60 on Tuesday. U.S. gold futures rose 0.2% to $2,555.20. Gold has gained about $460 or 22% so far this year, with geopolitical tensions and u...
Gold holds below record high as investors await clarity on Federal Reserve cuts
Gold holds below record high as investors await clarity on Federal Reserve cuts
Source: Reuters
2024-08-21 08:57:35 am
Stocks lose steam as investors zoom in on US jobs, Federal Reserve Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts. The S&P 500 snapped eight sessions of gains with a 0.2% overnight drop. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%. Hong Kong's Hang Seng slumped 1.4% with JD.com dropping 11% after Bloomberg News reported t...
Stocks lose steam as investors zoom in on US jobs, Federal Reserve
Stocks lose steam as investors zoom in on US jobs, Federal Reserve
Source: Reuters
2024-08-21 08:52:08 am
Dollar hits lowest this year vs euro as traders brace for jobs data, Jackson Hole The dollar slipped to its lowest this year versus the euro on Wednesday as traders braced for potentially crucial revisions to U.S. payrolls data later in the day, ahead of a speech by Federal Reserve Chair Jerome Powell at the end of the week. The U.S. currency also dipped below the closely watched 145 yen level and hovered close to the more-than-one-year low to sterling reached overnight. Pressure notably came from U.S. bond yields, which hit their lowest since Aug. 5, when yields crashe...
Dollar hits lowest this year vs euro as traders brace for jobs data, Jackson Hole
Dollar hits lowest this year vs euro as traders brace for jobs data, Jackson Hole
Source: Reuters
2024-08-21 08:31:22 am
Rupee strengthens against US dollar on Tuesday Indian rupee strengthened against the US dollar on Tuesday, tracking firm domestic equity markets and softening crude oil prices. Meanwhile, investors are focusing on minutes of the Federal Reserve’s July policy meeting and the US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium as the market is widely expecting a steep interest rate cut. However, some gains were limited by foreign fund outflows from capital markets. Foreign institutional ...
Rupee strengthens against US dollar on Tuesday
Rupee strengthens against US dollar on Tuesday
Source: Accord Fintech
2024-08-20 11:51:59 am
Gold steady near record high as investors seek more Fed cues Gold held steady near its record high on Tuesday as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell's speech for indications on how much the central bank will cut rates this year. Spot gold edged 0.2% higher to $2,500.08 per ounce by 0254 GMT, trading slightly below an all-time high of $2,509.65 hit on Friday. U.S. gold futures rose 0.1% to $2,537.70. "Gold prices have been largely steady in the Asian session, seemingly catching a breather as buyers seek ...
Gold steady near record high as investors seek more Fed cues
Gold steady near record high as investors seek more Fed cues
Source: Reuters
2024-08-20 09:25:19 am
Oil prices tick down as hopes of Middle East ceasefire eases supply worries Oil prices edged lower on Tuesday as Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease worries about a supply disruption in the Middle East. Brent crude fell 12 cents, $2.02, or 0.15%, to $77.54. Front month U.S. West Texas Intermediate crude futures, which expire on Tuesday, were at $74.23 a barrel, easing 14 cents, or 0.2%. The more actively traded second month contract was down 15 cents or 0.2% at $73.52. Brent had fallen about 2.5% on...
Oil prices tick down as hopes of Middle East ceasefire eases supply worries
Oil prices tick down as hopes of Middle East ceasefire eases supply worries
Source: Reuters
2024-08-20 09:09:32 am
Rupee likely to underperform regional peers amid dollar's slide The Indian rupee is expected to inch higher on Tuesday after the dollar index slumped to its lowest level in seven months, but is likely to underperform its regional peers. The 1-month non-deliverable forward indicates that the rupee will open at 83.85 to the U.S. dollar, compared to its previous close of 83.87. The dollar index dropped to 101.76 in Asian hours, the lowest in more than seven months. Asian currencies, meanwhile, added to Monday's advance, with most up between 0.3% to...
Rupee likely to underperform regional peers amid dollar's slide
Rupee likely to underperform regional peers amid dollar's slide
Source: Reuters
2024-08-20 09:01:09 am
Dollar at seven-month low on rate cut bets, Jerome Powell speech in focus The dollar hung near a seven-month low on Tuesday on wagers the U.S. central bank will start cutting interest rates from next month, with traders preparing for comments from Federal Reserve Chair Jerome Powell on Friday. The weakness in the dollar lifted the euro to its highest this year, while sterling was perched near a one-month peak. The emerging markets currency index was also at a record high. The Japanese yen was a shade stronger at 146.50 per dollar, hovering close to the near t...
Dollar at seven-month low on rate cut bets, Jerome Powell speech in focus
Dollar at seven-month low on rate cut bets, Jerome Powell speech in focus
Source: Reuters
2024-08-20 08:53:49 am
Rupee touches near two-week high on broad dollar weakness The Indian rupee rose to its highest level in nearly two weeks on Monday as the dollar index declined to its lowest level in six months, sparking broad gains in Asian currencies. The rupee was at 83.90 as of 11:10 a.m. IST, up about 0.05% compared with its previous close at 83.94 on Friday. The local currency rose to 83.85 in early trading, its highest level since Aug. 6. The dollar index fell 0.3% to 102.1, its lowest level since mid-January, as investors anticipated a dovish tilt e...
Rupee touches near two-week high on broad dollar weakness
Rupee touches near two-week high on broad dollar weakness
Source: Reuters
2024-08-19 12:09:40 pm
Rupee strengthens against US dollar in early trade on Monday Indian rupee strengthened against the US dollar in early trade on Monday, tracking firm domestic equities, easing Crude oil prices and fresh foreign fund inflows into capital markets. Foreign institutional investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 766.52 crore, according to exchange data. Rupee improved further on weakening American currency at overseas market and as investors are awaiting the US Federal Reserve Chair Jerome Powell's spe...
Rupee strengthens against US dollar in early trade on Monday
Rupee strengthens against US dollar in early trade on Monday
Source: Accord Fintech
2024-08-19 11:38:01 am
Gold trades near historic $2,500 mark on Fed rate-cut optimism Gold prices eased on Monday and hovered around key $2,500 level, as traders locked in profits following bullion's climb to an all-time peak in the previous session on expectations of a U.S. interest rate cut next month. Spot gold was down 0.2% at $2,502.78 per ounce, as of 0317 GMT, and U.S. gold futures edged 0.2% higher to $2,541.80. Enthusiasm over a likely interest rate cut by the U.S. Federal Reserve in September propelled bullion to an all-time high of $2,509.65 on Friday. Thi...
Gold trades near historic $2,500 mark on Fed rate-cut optimism
Gold trades near historic $2,500 mark on Fed rate-cut optimism
Source: Reuters
2024-08-19 09:35:11 am
Dollar in holding pattern ahead of FOMC minutes, Powell comments The U.S. dollar was struggling to make headway against its peers on Monday, though it traded in a tight range as investors awaited fresh catalysts this week that could offer clues on the outlook for U.S. interest rates. Minutes of the Federal Reserve's July policy meeting and a speech from Chair Jerome Powell at Jackson Hole are likely to be the main drivers of currency movement this week, which will also see inflation data from Canada and Japan alongside Purchasing Managers' Index...
Dollar in holding pattern ahead of FOMC minutes, Powell comments
Dollar in holding pattern ahead of FOMC minutes, Powell comments
Source: Reuters
2024-08-19 08:52:23 am
Asia shares underpinned by hopes for dovish Fed Asian stocks were taking a breather on Monday after global equities enjoyed their best week in nine months on expectations the U.S. economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts. The prospect of lower borrowing costs saw gold clear $2,500 an ounce for the first time and the dollar dip against the euro, though both the safe haven yen and Swiss franc receded as risk appetites recovered. Federal Reserve members Mary Daly and Austan Gools...
Asia shares underpinned by hopes for dovish Fed
Asia shares underpinned by hopes for dovish Fed
Source: Reuters
2024-08-19 08:46:26 am
Gold eyes weekly gain on US rate-cut bets Gold prices steadied on Friday and were headed for a weekly gain on optimism about a U.S. interest rate cut, while traders wait for Federal Reserve Chairman Jerome Powell's speech due next week for cues on the size of the cut. Spot gold eased 0.2% to $2,450.91 per ounce, as of 0320 GMT and prices have climbed nearly 1% this week. U.S. gold futures fell 0.2% to $2,488.50. U.S. economic data this week eliminated fears about a recession but traders are convinced the Fed will slash r...
Gold eyes weekly gain on US rate-cut bets
Gold eyes weekly gain on US rate-cut bets
Source: Reuters
2024-08-16 09:32:06 am
Yen rises to 7-month highs as US slowdown fears carry over Japan's yen hit mid-January highs against the dollar at Asia open on Monday, as markets extended moves triggered last week after weak U.S. labour data stoked recession worries and expectations of deeper rate cuts by the Fed. Friday's job data, coming on top of a string of weak earnings reports from large technology firms and heightened concerns over the Chinese economy, drove a global selloff in stock markets, oil and high-yielding currencies as investors sought the safety of cash....
Yen rises to 7-month highs as US slowdown fears carry over
Yen rises to 7-month highs as US slowdown fears carry over
Source: Reuters
2024-08-05 08:56:15 am
Gold prices head for best week in 4 months, US jobs data eyed Gold prices were poised for their biggest weekly jump in four months on Friday, supported by safe-haven demand and expectations that the U.S. Federal Reserve would start cutting interest rates in September as markets await key jobs report for further cues. Spot gold was up 0.7% at $2,463.45 per ounce, as of 0915 GMT, just $22 shy of the record peak of $2,483.60 scaled on July 17. Bullion is on track for its biggest weekly gain since April 5. U.S. gold futures climbed 1.1% to $2,507.80. ...
Gold prices head for best week in 4 months, US jobs data eyed
Gold prices head for best week in 4 months, US jobs data eyed
Source: Reuters
2024-08-02 03:16:42 pm
Stocks sell off as US data sparks worry, yields plunge Global equities dropped on Thursday, with Wall Street's major indexes selling off as U.S. data sparked economic worries and financial stocks in Europe saw their biggest one-day rout since March 2023. Treasury yields plunged following the weak data, with the U.S. two-year to 10-year note yields dropping to six-month lows, below 4%. Oil futures finished lower as global supply seemed largely unaffected by worries of a broadening Middle East crisis. [O/R] The Federal Reserve held int...
Stocks sell off as US data sparks worry, yields plunge
Stocks sell off as US data sparks worry, yields plunge
Source: Reuters
2024-08-02 09:11:25 am
Gold erases Fed-inspired gains as US dollar rebounds Gold prices dipped as the dollar rebounded on Thursday, after bullion hit two-week highs earlier in the session on Federal Reserve Chair Jerome Powell's indications that a September interest rate cut might be considered. Spot gold was down 0.7% at $2,432.29 per ounce, as of 0956 GMT, having hit its highest since July 18 earlier in the session. Prices were just $51 shy of the record high of $2,483.60 scaled on July 17. U.S. gold futures firmed 0.1% to $2,476.10. Fed Chair Jerome P...
Gold erases Fed-inspired gains as US dollar rebounds
Gold erases Fed-inspired gains as US dollar rebounds
Source: Reuters
2024-08-01 08:56:39 am