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Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates. Spot gold rose 0.4% to $2,374.14 per ounce by 0235 GMT, but was down 1% for the week. U.S. gold futures climbed 0.7% to $2,371.00. "Currently, the precious metal is seeing a cool-off period before prices potentially start marching higher in the last quarter of this year," said Sugandha Sachdev...
Gold firms ahead of US inflation data, but set for weekly loss
The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations. The yen has dominated the currency markets this month, surging to a near three-month high of 151.945 per dollar on Thursday after starting the month languishing at 38-year lows of 161.96 per dollar. The large move follows suspected interventions from Tokyo in early July ...
Yen heads for strongest week in 3 months as carry trades unwind
The yen stabilized near a 12-week high against the dollar on Friday while Asia-Pacific equity markets remained on the back foot a day after their worst session since mid-April. Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling. MSCI's broadest index of Asia-Pacific shares fell 0.55% on Friday, extending the 1.88% tumble from the previous day. Taiwan's stock benchmark slumped 3.3...
Yen steady, Asian stocks weak as wild week winds down
Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer. But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains. Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. U.S. West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel. In the second qua...
Oil edges up on strong US GDP data but Asia economic woes limit gains
Indian rupee strengthened marginally against the US dollar on Thursday ahead of the Federal Reserve meeting with rising bets of rate cut in September. Meanwhile, weakness of the American currency in the overseas market and fall in crude oil prices have also supported rupee sentiments. However, some gains were limited by weak equities and significant foreign fund outflows from the capital markets after the government's decision to hike the tax rate on capital gains. Foreign Institutional I...
Rupee strengthens against US dollar on Thursday
Gold prices fell more than 1% on Thursday as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much. Spot gold fell 1.2% to $2,369.20 per ounce by 0533 GMT. U.S. gold futures dropped 1.8% to $2,373.00. "When you look from a fundamental perspective, there are no factors pressuring gold. So, it looks like we are seeing some profit-taking and from a technical perspective, prices could m...
Gold skids on profit-taking, with US economic data on radar
Asian shares were hammered on Thursday as a slump in global tech stocks sent investors fleeing into less risky assets, including short-dated bonds, the yen and Swiss franc. Chinese stocks were given little support after the country's central bank sprang a surprise cut in longer-term rates, adding to a recent rush of stimulus measures. The sell-off in stocks saw investors ramp up bets on rate cuts globally, with futures implying a 100% chance of a Federal Reserve easing in September....
Tech slump knocks Asia shares, yen towers at 2-1/2-month peak
Gold prices struggled for momentum on Wednesday, with investors awaiting U.S. economic data that could influence the Federal Reserve's rate-cut timeline. Spot gold was little changed at $2,408.88 per ounce, as of 0208 GMT. U.S. gold futures ticked up 0.1% to $2,408.80. Investors expect key U.S. data releases this week, including the second-quarter gross domestic product (GDP) reading on Thursday and the June personal consumption expenditures (PCE) price index number on Friday, to of...
Gold prices flat as investors focus on US economic data
Gold prices held steady on Tuesday while investors strapped in for U.S. economic data this week for clarity on the timeline for Federal Reserve's interest rate cut. Spot gold was nearly unchanged at $2,396.57 per ounce, as of 0458 GMT. U.S. gold futures added 0.1% to $2,398.00. Traders will eye the report on second-quarter gross domestic product (GDP) on Thursday and personal consumption expenditures (PCE) data for June on Friday. "Gold looks quite comfortable around $2,400 ...
Gold prices steady with US economic data in focus
Indian rupee strengthened against the US dollar in early trade on Monday, as the American currency retreated from its elevated level on news that US President Joe Biden has endorsed his vice president Kamala Harris to become the Democratic nominee in the November election after he announced he would step aside from the race. Moreover, foreign fund inflows and possible intervention by the Reserve Bank of India have also supported the Indian currency at lower levels. Foreign Institutional Inves...
Rupee strengthens against US dollar in early trade on Monday
Oil prices rose in early trade on Monday as investors keep a lookout for signs of a rate-cut cycle expected to begin as soon as September. Brent crude prices were up 48 cents, or 0.57%, at $83.10 a barrel by 0035 GMT, and U.S. West Texas Intermediate crude futures rose 42 cents, or 0.52%, to $80.55. "Since the June FOMC meeting, inflation and labour market data have signalled that disinflation and labour market rebalancing are in place, which we expect will allow the Fed to begin i...
Oil prices rise as investors look for signs US rate cuts to begin
Gold prices drifted higher on Monday as the dollar eased following U.S. President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook. Spot gold rose 0.1% to $2,402.61 per ounce, as of 0758 GMT, while U.S. gold futures gained 0.2% to $2,403.30. The prospect of rate cuts and political uncertainty in the United States are supporting gold prices, and conditions are in place for ...
Safe-haven gold edges up as Biden move sparks market uncertainty
The dollar rose in jittery trading on Friday, as a worldwide cyber outage that hit banks, airlines and broadcasters unsettled investors, although volatility in the currency market remained contained. Signs of disruption in one of the world's busiest financial centres emerged as London trade got underway. LSEG Group, which runs the London Stock Exchange, suffered an outage that affected user access to some of its products. By around midday in Europe, the company said its services had be...
Dollar set for weekly gain, cyber outage unnerves investors
Asian shares are set to end the week on a sour note, as uncertainty across the geopolitical landscape and in major economies added to headwinds for investors even as the global rate easing cycle gets under way. It has been a turbulent week in markets, with a tech sell-off sparked by deepening Sino-U.S. trade tensions, uncertainty over U.S. President Joe Biden's fate in the presidential race, disappointing Chinese economic data and a lacklustre third plenum outcome casting a shadow over...
Asia stocks fall on tech rout contagion, global uncertainty
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
Oil prices ticked higher on Thursday, buoyed by a bigger-than-expected weekly decline in U.S. crude stocks. Brent futures rose 13 cents, or 0.2%, to $85.21 a barrel by 0023 GMT, while U.S. West Texas Intermediate (WTI) crude rose 31 cents, or 0.4%, to $83.16. Brent climbed 1.6% on Wednesday, and WTI rose 2.6%. U.S. crude inventories fell by 4.9 million barrels last week, data from the U.S. Energy Information Administration showed. That compares with a 30,000-barrel decline forecast b...
Oil prices rise on bigger-than-expected drop in US crude stocks
Gold prices edged higher on Thursday, trading not too far away from a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September boosted demand. Spot gold rose 0.1% to $2,461.27 per ounce, as of 0218 GMT. Prices hit an all-time high of $2,483.60 on Wednesday. U.S. gold futures added 0.2% to $2,465.00. Decreasing rates and U.S. elections are two immediate factors likely to push gold beyond $2,500, as gold tends to benefit from economic and...
Gold shines on rising Fed rate-cut outlook
Gold prices rose to an all-time peak on Wednesday, driven by mounting hopes of a U.S. interest rate cut in September after recent comments from Federal Reserve officials. Spot gold was steady at $2,468.55 per ounce, as of 0456 GMT, after hitting a record peak of $2,482.29. U.S. gold futures gained 0.3% to $2,474.50. "Gold reached a new high watermark as investors position for the arrival of a lower interest rate environment. The $2,500 (range) is the next immediate target, though i...
Gold soars to record as US rate-cut bets burnish appeal
The dollar was broadly weaker on Wednesday after a modest but short-lived boost following better-than-expected U.S. retail sales data, as traders focused on the prospect of Federal Reserve rate cuts as early as September. The New Zealand dollar rose as data showed domestically driven inflation remained high in the second quarter, even as the headline figure missed expectations. The kiwi gained 0.35% to $0.6071, though futures showed markets are sticking to bets of about three rate cuts ...
Dollar eases with Fed rate cuts back in view
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
The Indian rupee is expected to open largely unchanged on Tuesday despite a decline in Asian peers on expectations that the central bank will not allow the currency to drop to an all-time low. Non-deliverable forwards indicate the rupee will open flat from 83.5925 in the previous session. The dollar index inched up and Asian currencies were down between 0.1% to 0.3%. The rupee hit an all-time low of 83.6650 hit last month. At this level of the rupee, the impact of the moves in Asia will...
Rupee pressed by weak Asia, supported by intervention hopes
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
Indian rupee weakened against the US dollar in early trade on Monday, tracking the strength of the American currency at overseas market after the attempted assassination of presidential candidate Donald Trump reinforced bets that his chances of winning the election have increased. Moreover, firm trend in domestic equities, hopes of rate cut by Federal Reserve and foreign fund inflows have restricted the fall. Foreign Institutional Investors were net buyers in the capital markets on Friday, as...
Rupee weakens against US dollar on Monday
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 Indian rupee is likely to open marginally higher on Monday, shrugging off the decline in Asian peers amid higher odds of Donald Trump winning the November election. Non-deliverable forwards indicate the rupee will open at 83.50-83.52 to the U.S. dollar from 83.5350 in the previous session. Asian currencies were down between 0.1% to 0.6%, with the offshore yuan slipping to 7.28 to the dollar. Expectations of Trump reclaiming the White House have risen following an assassination attem...
Rupee likely to inch up despite weakness in Asian peers
Indian rupee was trading flat against the US dollar in early trade on Friday tracking muted American currency at overseas markets. Firm domestic equities and hopes of interest rate cut by the US Federal Reserve by September after softer-than-expected US consumer price index inflation data, have supported the rupee. Meanwhile, firm crude oil prices and foreign fund outflows have put pressure on the local unit. Foreign institutional investors were net sellers in the capital markets on Thursday ...
Rupee trades flat against US dollar in early trade on Friday
The yen swung between losses and gains on Friday in volatile trade, reflecting investors' skittishness after Tokyo was thought to have intervened to prop up the Japanese currency in the wake of a cooler-than-expected U.S. inflation report. Moves in the yen against the dollar and other major currencies stole the spotlight on Friday, though in the broader market, Asian stocks cheered the growing bets for a September rate cut from the Federal Reserve. The dollar was last 0.05% lower at...
Yen choppy amid intervention nerves; Asia shares eye weekly gain
The Indian rupee edged higher on Friday, aided by a broadly weaker dollar after U.S. inflation data boosted expectations of policy easing by the Federal Reserve, although dollar demand from importers capped further gains in the local currency. The rupee closed at 83.5350 against the U.S. dollar, up from its close at 83.56 in the previous session. The local unit was largely flat week-on-week. The dollar index was at 104.3 on Friday, on course for its second consecutive weekly loss, after...
Rupee ends tad higher, importers limit gains; currency flat on-week
The yen eased on Friday as investors remained nervous after a sharp surge in the previous session following data that showed U.S. consumer prices unexpectedly dropped, with speculation swirling that Tokyo had intervened in the currency market. The Japanese currency, which has been languishing around 38-year-lows, swung between gains and losses in early volatile trading in Asian hours before drifting slightly weaker. It was last down 0.19% at 159.08 per dollar. It had spiked nearly 3% to...
Yen keeps markets on edge as intervention risks swirl
Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, with Brent crude peaking above $86 though it was still set for a weekly decline. Brent crude futures rose 72 cents, or 0.8%, to $86.12 a barrel by 0819 GMT. U.S. West Texas Intermediate crude futures climbed 85 cents, or 1%, to $83.47 a barrel. Both contracts gained in the prior two sessions. Brent futures were set to fall about 1% week-on-week following four...
Oil rises as US inflation eases
Gold prices fell on Friday but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September. Spot gold slipped 0.4% to $2,404.12 per ounce, as of 0702 GMT, on profit booking after prices jumped 2% on Thursday. U.S. gold futures fell 0.6% at $2,408.00. Data on Thursday showed U.S. consumer prices unexpectedly fell and the annual increase was the smallest in a year, drawing the Fed an...
Gold set for third straight weekly gain as Fed rate cut bets firm
A team of European carbon removal specialists launched an initiative on Tuesday to help Indian businesses develop projects that suck carbon dioxide out the atmosphere and mitigate global warming. The Amsterdam-based group, called remove, has helped businesses to raise more than 220 million euros ($238 million) to support carbon dioxide removal (CDR) projects throughout Europe, and will now accept applications from Indian start-ups. Successful applicants will gain access to remove's ...
European carbon removal specialists to support new projects in India
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
India consumer price inflation probably edged up in June, snapping five months of declines, largely because of a jump in vegetable prices caused by the damage to crops wrought by extreme weather, according to a Reuters poll of economists. Prices of tomatoes, onions, and potatoes - staples in every Indian kitchen - surged by double digits last month as extreme heat and heavy floods in India's northern states disrupted agricultural production. The July 5-9 Reuters poll of 54 economist...
India inflation seen up in June due to soaring vegetable prices
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
Indian rupee strengthened marginally against the US dollar on Tuesday on account of muted dollar in the overseas markets. Meanwhile, foreign fund inflows, firm domestic equities and easing crude oil prices have also supported the rupee. Foreign institutional investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, exchange data showed. But investors are cautiously awaiting US CPI data to be released on Thursday, which is key to gauge on Federa...
Rupee strengthens against US dollar on Tuesday
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
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