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Gold prices dipped more than 1% on Friday, as the dollar firmed and some investors locked in profits following the metal's recent surge on increasing expectations of U.S. interest-rate cuts in September. Spot gold was down 1.4% to $2,411.78 per ounce by 1025 GMT. Bullion hit an all-time high of $2,483.60 on Wednesday. U.S. gold futures fell 1.7% to $2,414.70. The U.S. dollar inched 0.2% higher, while benchmark 10-year Treasury yields also climbed, putting pressure on bullion. [US...
Gold eases from record highs on firmer dollar, profit-taking
Indian rupee strengthened against the US dollar in early trade on Tuesday, followed by firm domestic equities and foreign fund inflows. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 2,684.78 crore, exchange data showed. India's merchandise exports in June increased 2.56% to $35.2 billion, even as the trade deficit widened to $20.98 billion during the month, data showed. Rupee improved further as Federal Reserve Chair Je...
Rupee strengthens against US dollar on Tuesday
Oil prices dipped on Tuesday on worries of a slowing Chinese economy crimping demand and despite a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September. Brent futures were down 70 cents, or 0.82%, to $84.15 a barrel by 1040 GMT, while U.S. West Texas Intermediate (WTI) crude fell 76 cents, or 0.93%, to $81.15. The weaker Chinese economic data "cast some doubts on whether market participants are being overly optimistic" regar...
Oil falls on lingering demand concerns in China
The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrenices gained on rising odds of former President Donald Trump getting reelected. Powell said on Monday the three U.S. inflation readings over the second quarter of this year "add somewhat to confidence" that the pace of price increases is returning to the Fed's target in a sustainable fashion. "We've ...
Dollar drifts as Powell comments bring September rate cut in focus
Gold prices advanced on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.5% to $2,433.72 per ounce by 0703 GMT. On Monday, prices hit their highest level since May 20, when bullion scaled a record peak of $2,449.89. U.S. gold futures gained 0.4% to $2,437.50. "Powell continued to lay the groundwork for upcoming policy easing....
Gold firms as US rate cut optimism boosts appeal
Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean for China, while the dollar climbed for a second day even though dovish Fed comments fuelled bets of more U.S. rate cuts this year. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%, having eased 0.3% on Monday. Japan returned from a public holiday, with the Nikkei index up 0.4%. Overnight, investors continued to digest the fallout from the attempted assassi...
Asian shares fall as China drags, dollar in demand
U.S. Treasuries slipped and the dollar firmed on Monday as investors wagered the attack on U.S. presidential candidate Donald Trump made his victory more likely, while injecting a whole new level of political uncertainty into markets. A holiday in Japan made for thin trading in Asia and action was confined to a modest rise in the dollar, gains for bitcoin and selling U.S. bonds. Benchmark 10-year Treasury yields were up almost five basis points in early London trade. Investors have tend...
Treasuries slip, dollar firm as markets grapple with US politics
Gold prices were little changed on Monday, as investors awaited comments from Federal Reserve officials and economic data for further cues on the trajectory of U.S. interest rates. Spot gold was steady at $2,411.25 per ounce by 0434 GMT. U.S. gold futures slipped 0.1% to $2,417.40. Fed Chair Jerome Powell is due to speak later in the day, and a few other officials will speak later in the week. Data sets due this week include U.S. retail sales, industrial output for June and weekly joble...
Gold steady as investors seek more cues on Fed`s rate path
The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England (BoE). The British pound rose to a one-month high of $1.28545 in early Asia trade, extending a 0.48% gain from the previous session after comments from BoE policymakers caused markets to scale back bets for an easing cycle to begin next month. BoE Chief Economist Huw P...
Dollar adrift ahead of US inflation test; sterling firms
Oil prices edged higher on Thursday as crude stocks fell after U.S. refineries ramped up processing and as gasoline inventories eased, signalling stronger demand. Brent futures rose 35 cents, or 0.4% to $85.43 a barrel. U.S. West Texas Intermediate (WTI) crude rose 36 cents, or 0.5%, to $82.47 a barrel. U.S. crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5, far exceeding analysts' expectations in a Reuters poll for a 1.3 million-barrel ...
Oil prices tick up as crude, gasoline inventories ease
Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Spot gold was up 0.2% at $2,375.70 per ounce, as of 0200 GMT. U.S. gold futures rose 0.1% to $2,381.30. The dollar was on the back foot, making greenback-priced bullion more attractive for other currency holders. [USD/] Investors are waiting for the June Consumer Price Index (CPI) report due...
Gold holds ground as traders brace for US inflation data
Stocks rose on Thursday, with markets from Tokyo to New York at record highs, while traders counted down to U.S. data that is expected to show inflation easing and pave the way for rate cuts in September. Bonds and the dollar were steady, keeping the yen on the weak side of 161 per dollar and near its lowest levels in decades. Gains in heavyweight technology shares sent the S&P 500 up 1% overnight to a sixth consecutive record closing high, and in Asia, Japan's Nikkei rose 1% to...
Stocks stride to record highs ahead of US inflation test
The Indian rupee is poised to open marginally higher on Thursday, in the wake of an uptick on Asian peers before data that may be key to the Federal Reserve cutting or holding rates at its September meeting. Non-deliverable forwards indicate the rupee will open at 83.48-83.50 to the U.S. dollar compared with 83.52 in the previous session. Asian currencies rose 0.1% to 0.4% and the dollar index held below the 105 handle. The offshore Chinese yuan was quoting at 7.2870 to the dollar, havi...
Rupee to inch up before US inflation print, tracking Asian peers
The dollar traded near three-week lows on Wednesday as a cautious tone from Federal Reserve Chair Jerome Powell kept risk sentiment in check, while the New Zealand dollar fell after the country's central bank signaled it saw potential for rate cuts. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains "greater confidence" that inflation is headed toward the 2% target, setting the stage for Thursday's consum...
Dollar dithers on Powell caution; kiwi droops after RBNZ rate hint
Gold prices edged up on Wednesday, a day after Federal Reserve Chair Jerome Powell's comments suggested the case for interest rates cuts is getting stronger, while investors braced themselves for a crucial U.S. inflation report. Spot gold rose 0.4% to $2,372.83 per ounce by 0900 GMT. U.S. gold futures climbed 0.5% to $2,379.20. "It sounds as if Jerome Powell’s testimony (yesterday) was giving at least an amber light towards rate cuts sooner than later" which is suppo...
Gold ticks up on Powell's comments; US inflation report awaited
The dollar was on the front foot on Wednesday, having rebounded from a three-week low, after Federal Reserve Chair Jerome Powell struck a cautious tone on how soon U.S. interest rate cuts would come. The New Zealand dollar weakened after the central bank expressed confidence that inflation would return to its target band this year, spurring bets for early policy easing. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains...
Dollar firms on Powell caution; kiwi eases after dovish cenbank
Oil prices rose on Wednesday on expectations that U.S. crude and gasoline inventories fell last week, but further gains were limited by the restart of output in the U.S. Gulf as the threat from Hurricane Beryl faded and slack Chinese consumer demand. Brent futures were up 19 cents, or 0.2%, at $84.85 a barrel at 1013 GMT, after falling 1.3% in the previous session. U.S. West Texas Intermediate (WTI) crude was up 28 cents, or 0.3%, to $81.69 a barrel, after falling 1.1% in the previous s...
Oil edges higher on likely US inventory drawdown
The U.S. dollar edged higher on Tuesday from its lowest levels in almost a month versus major peers in the previous session, as traders awaited testimony from Federal Reserve Chair Jerome Powell days after an unexpectedly soft U.S. jobs report. The euro held its ground after Monday's sharp swings as investors came to terms with a hung parliament in France, which points to a potential political gridlock, but lessens fiscal concerns stemming from outright far-right or leftist victories. ...
Dollar inches up ahead of Powell testimony; euro steady after French vote
Oil prices slipped on Tuesday after a hurricane that hit a key U.S. oil-producing hub in Texas caused less damage than markets had expected, easing concerns over supply disruption. Brent futures fell 49 cents or 0.6% to $85.26 a barrel by 0852 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 54 cents or 0.7% to $81.79. Although oil refining activity slowed and some production sites were evacuated, major refineries along the U.S. Gulf Coast appeared to see minimal impact from ...
Oil prices slip as concerns over hurricane damage ease
The Indian rupee closed nearly flat on Tuesday, tracking largely subdued price action in its Asian peers, as investors awaited comments from the Federal Reserve Chair for cues on the future path of U.S. interest rates. The rupee ended at 83.4850 against the U.S. dollar, barely changed from its close at 83.4925 in the previous session. Indian state-run banks were "active on both sides," like on Monday, which along with mostly quiet price action in Asian currencies, kept the rup...
Rupee ends flat, tracking rangebound Asian peers; Powell's testimony in focus
Gold prices ticked higher on Tuesday, with investors awaiting comments from Federal Reserve Chair Jerome Powell and the U.S. June inflation data for further cues on the likely direction of interest rates. Spot gold was up 0.2% at $2,363.69 per ounce as of 0944 GMT. U.S. gold futures firmed 0.3% to $2,370.80. Powell is due to speak before the Senate on Tuesday and the House on Wednesday. "Markets expectations for the timing of Fed rate cuts remain gold's primary driver... sho...
Gold firms as investors eye Powell's testimony, inflation data
Asian shares tracked Wall Street higher on Tuesday as markets hoped the U.S. Federal Reserve Chair Jerome Powell would sound dovish about easing prospects later in the day, while the dollar steadied near four-week lows. The euro reclaimed some lost ground, French shares whipsawed, while the risk premium of French bonds over German narrowed as investors digested shock election results that left France facing a hung parliament. MSCI's broadest index of Asia-Pacific shares outside Japa...
Asian shares track Wall Street higher, markets hope for dovish stance from Powell
Indian rupee strengthened against the US dollar in early trade on Monday, as crude oil prices retreated from their elevated levels amid the prospect of a ceasefire deal in Gaza eased geopolitical tension in the Middle East. Moreover, foreign fund inflows and hopes of interest rate cuts by the Federal Reserve later this year also aided rupee sentiments. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,241.33 crore, exchange d...
Rupee strengthens against US dollar on Monday
The Indian rupee is likely to nudge higher on Monday, supported by a rise in expectations that the U.S. Federal Reserve may begin to ease policy rates in September but weakness in the Chinese yuan may limit the local currency's gains. Non-deliverable forwards indicate the rupee will open flat or slightly higher against the U.S. dollar, compared with 83.4850 in the previous session. The rupee is likely to "trend sideways around 83.45 with a slightly positive bias", a foreig...
Rupee aided by growing Fed rate cut hopes, yuan slip may limit gains
Indian rupee weakened against the US dollar in early trade on Wednesday tracking firm American currency at overseas markets, while dollar demand from oil importers and foreign portfolio investors dragged down rupee. Moreover, elevated crude oil prices and foreign fund outflows have also dampened sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,000.12 crore, exchange data showed. However, some losses were...
Rupee weakens against US dollar on Wednesday
Asian stocks rose on Wednesday as comments from Fed Chair Jerome Powell reinforced expectations that U.S. rate cuts were not far off, while the yen remained pinned near levels last seen in 1986, keeping traders wary of Japanese intervention. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.26% higher, while Japan's Nikkei rose 0.49%, stalking the record high touched in March. The U.S. is back on a "disinflationary path", Powell said on Tuesday, although...
Asia stocks gain on rate cut wagers, yen stays near 38-year lows
The dollar remained on the back foot on Wednesday after dovish comments from Federal Reserve Chair Jerome Powell sent U.S. bond yields lower, overshadowing a strong domestic jobs report. The euro held firm, helped by a stubbornly high local inflation reading on Tuesday. Sterling was steady ahead of Thursday's U.K. election. However, the yen continued to languish close to a 38-year low versus the dollar, amid the increased possibility of a second Donald Trump presidency, which could ...
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
Indian Rupee weakened against the US dollar on Tuesday amidst elevated crude oil prices, while investors are cautiously awaiting more cues on the US interest rates due this week. The minutes of the Fed’s June meeting are due on Wednesday, Key US nonfarm payrolls data for June is due on Friday, and Fed Chair Jerome Powell is set to speak at a European Central Bank conference on Tuesday. Moreover, dollar demand from oil importers and foreign portfolio investors and foreign fund outflows h...
Rupee weakens against US dollar on Tuesday
The U.S. dollar hovered near an almost 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency. The euro remained firm as rival French political parties joined forces to try and prevent the far-right National Rally (RN) from taking power. Equities were broadly mixed in Asia, while crude oil edged higher following a strong rally in the previous session. Later in the day, U.S. Federal Reserve C...
Dollar soars near 38-year yen peak as Trump risk lifts US yields
Gold prices were flat on Tuesday, as investors awaited comments from Federal Reserve Chair Jerome Powell and jobs data for further insight about the U.S. central bank's interest rate outlook. Spot gold was steady at $2,331.41 per ounce, as of 0238 GMT. U.S. gold futures were up 0.1% to $2,341.80. In order for prices to break above the current range, the market needs to see further weak data points that increase the possibility of a Fed rate cut in September, said Kelvin Wong, a seni...
Gold flat as investors eye Powell's speech
The Indian rupee is expected to decline at the open on Tuesday, weighed down by a further rise in U.S. Treasury yields amid increasing expectations of Donald Trump winning the U.S. presidency. Non-deliverable forwards indicate the rupee will open at 83.47-83.48 to the U.S. dollar, compared with 83.4375 in the previous session. Asian currencies were down between 0.1% and 0.5%, with the offshore Chinese yuan dipping below 7.3050 to the U.S. dollar. In line with Asia, the rupee will ...
Rupee expected to decline on the back of rising US yields
The Indian rupee is expected to open largely unchanged on Monday, mixed Asian peers were mixed, with the focus on important U.S. data due later in the week. Non-deliverable forwards indicated rupee will open barely changed from the previous session's close of 83.3825. Asian currencies were rangebound and lacked direction while the dollar index dipped. Last week was a choppy one for the rupee, with the inclusion of Indian bonds into the JPMorgan emerging market index and the expiry o...
Rupee to focus on US data after index flows underwhelm
Gold prices held steady on Monday after data showed U.S. inflation subsided in May, bolstering hopes that the Federal Reserve will start cutting interest rates this year. Spot gold was nearly unchanged at $2,325.49 per ounce, as of 0716 GMT. Prices registered a more than 4% gain in the second quarter. U.S. gold futures eased 0.2% to $2,334.80. Data on Friday showed that the U.S. personal consumption expenditures index increased 2.6% in the 12 months through May after advancing 2.7% i...
Gold holds ground as slowing inflation boosts Fed rate cut bets
Oil prices fell in early trade on Thursday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market. Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.2%, to hit $78.34. Both benchmarks had gained about 0.8% in the previous session. The Federal Reserve held int...
Oil slips on US growth worries, ample crude supply
Asian equities rallied on Thursday, while bond yields slid, as investors weighed cooling U.S. inflation against a more hawkish posture by the Federal Reserve. Japanese shares underperformed and the yen inched down against the dollar, as the Bank of Japan began its two-day policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9%, with Taiwan stocks jumping 1.7% and Hong Kong's Hang Seng up nearly 1%, buoyed by the U.S. S&P 500 and tech-heavy Nas...
Asia stocks rally, bond yields fall as investors assess Fed outlook
Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. Spot gold was up 0.1% at $2,295.29 per ounce, as of 0346 GMT. U.S. gold futures fell 0.5% to $2,312.20. Bullion declined 3.5% on Friday in its biggest drop since November 2020 after the U.S. jobs report and China data showing the world's top consumer held off gold purchas...
Gold holds steady after biggest sell-off in 3-1/2 years
The euro fell on Monday as the French President Emmanuel Macron called a shock election after being trounced in the European Union vote by the far-right, while the dollar was steady ahead of the Federal Reserve meeting later in the week. The euro fell to $1.0764, its lowest since May 9, in early trading in Asia. It was last down 0.24% at $1.0776 as investors weighed the implications of renewed political uncertainty in the euro zone's second-biggest economy in a key election year. Eu...
Euro slips to one-month low as Macron calls French election
Oil prices were steady early in the session on Friday as players took stock of the U.S. Federal Reserve's latest comments on interest rates amid sticky inflation, while firming seasonal U.S. fuel demand lent support. Brent crude futures were up 1 cent at $81.37 a barrel at 0002 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 2 cents at $76.85. Both benchmarks settled at multi-month lows on Thursday, with Brent crude futures closing at their weakest point since Januar...
Oil flat as firming US gasoline demand offsets rate jitters
The dollar was steady against a handful of peers on Wednesday, as the market assessed calls for patience from Federal Reserve officials and awaited the publication of Fed minutes for more insight on the central bank's path. The kiwi stood out against the calm, leaping after the Reserve Bank of New Zealand's monetary policy decision. While RBNZ left its benchmark cash rate at 5.5% as widely expected, the central bank said that there was some concern the inflation rate had fallen ...
Dollar steady as Fed urges patience; kiwi jumps on hawkish RBNZ outlook
Gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the U.S. Federal Reserve as early as September. Spot gold rose 0.1% at $2,388.10 per ounce, as of 0255 GMT, after gaining more than 1% to its highest since April 19 on Wednesday. U.S. gold futures rose 0.1% to $2,393.20. The dollar fell 0.2% against a basket of other major currencies, making the greenback-priced bullion less exp...
Gold drifts higher as rising Fed rate cut expectations boost appeal
Gold prices rebounded on Tuesday, helped by a pullback in the dollar and Treasury yields after data showed U.S. producer prices rose more than expected in April, suggesting inflation remained high. Spot gold was up about 1% at $2,358.98 per ounce by 1817 GMT after dropping 1% on Monday. U.S. gold futures settled 0.7% higher at $2,359.90. "The dollar is down and I think that's giving a bit of a lift to the gold market," said Marex analyst Edward Meir. "The fact that...
Gold regains ground as dollar, yields slip post US PPI data
Oil prices rose in early trade on Wednesday as large wildfires were threatening Canada's oil sands and as the market expected U.S. crude oil and gasoline inventories to show a drawdown later in the day. Brent crude futures were up 34 cents, or 0.4% at $82.71 a barrel. U.S. West Texas Intermediate crude futures (WTI) rose 38 cents, or 0.5%, to $78.39 a barrel by 0016 GMT. A large wildfire was approaching Fort McMurray, the hub for Canada's oil sands industry with production of ar...
Oil prices up on wildfires in Canada, US inventories drawdown expectations
The dollar traded near a one-month low versus the euro on Wednesday amid lower Treasury yields as traders braced for a key U.S. inflation report later in the day that could dictate the path of Federal Reserve policy. The yen languished near a two-week low, as a still-gaping yield gap between local bonds and U.S. peers continued to encourage selling of the Japanese currency. The yuan slid to a two-week low versus the dollar after U.S. President Joe Biden unveiled steep tariff increases o...
Dollar droops ahead of crucial CPI test; yen under pressure
The Indian rupee will likely be comforted on Wednesday by a decline in U.S. Treasury yields ahead of the key U.S. inflation data that will provide cues on the Federal Reserve's interest rate path this year. Non-deliverable forwards indicate rupee will open marginally higher to the U.S. dollar, from 83.51 in the previous session. The rupee has been holding a narrow range in recent days, circling the 83.50 handle. A handful of traders reckon that the Reserve Bank of India has been lin...
Rupee may see relief on dip in US yields ahead of inflation print
Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed U.S. producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's near-term policy path. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.38%, scaling a fresh 15-month high earlier in the session. Japan's Nikkei gained 0.58%. Data overnight showed U.S. producer prices increased more than expected in...
Stocks rise, dollar drifts ahead of US inflation report
Major currencies were steady on Monday with the dollar consolidating against peers, as market participants awaited U.S. inflation data to assess the prospects of interest rate cuts this year. After a softer-than-expected U.S. payrolls report for April and a Federal Reserve policy announcement, expectations have increased for rate reductions this year. Markets have priced in a 61.2% chance of some degree of rate reductions to begin at the Fed's September meeting, with about 50 basis ...
Currency market calm as US inflation data holds focus this week
Asian share markets made a cautious start on Monday in a week where inflation figures could make or break hopes for earlier U.S. rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world's No. 2 economy. Beijing has already reported a welcome pickup in inflation to an annual 0.3% in April, helping to soothe worries about a slide into prolonged deflation. Forecasts favour further gains in April retail sales and industrial output due on Friday. ...
Asia stocks brace for US inflation test, China data
Asian shares were mixed on Thursday but solid Chinese trade data helped China stocks outperform, while the yen stabilised after three days of decline as Japanese authorities hinted at the potential for currency intervention. Europe looked set for a subdued open, with EUROSTOXX 50 futures flat, although the FTSE 100 was up 0.1% ahead of an interest rate decision from the Bank of England later in the global day. All eyes are on the prospects of a June rate cut following the overnight move...
China outperforms Asian shares on solid trade data, BOE in focus
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