Gold prices steadied on Wednesday, after slipping 1.6% in the previous session when it breached the key psychological level of $1,800, as gains in the and a rise in US Treasury yields hurt bullion’s appeal. FUNDAMENTALS Spot gold rose 0.1% to $1,796.03 per ounce by 0116 GMT, hovering slightly above the more than one-week low
Month: September 2021
Torn between disappointing economic activities but rising inflation, higher vaccination rate but worsening Delta outbreak, and a federal election just 12 days after this week’s meeting, the BOC will likely stand on the sideline this month. Policymakers will keep its weekly asset purchases unchanged at CAD 2B/ week and retain the forecast of first hike
Thomas Trutschel | Photothek | Getty Images Now might be a good time for the Federal Reserve to start worrying about inflation. August’s jobs report, besides being a big disappointment on the 235,000 headline number, also showed that wages are rising even with weak hiring. Average hourly earnings jumped 0.6% for the month, about double
EUR/USD fades corrective pullback after two-day fall, sellers attack intraday low of late. Cautious mood ahead of the ECB, covid woes keep bears hopeful. DXY ignores pullback of US Treasury yields from two-month top, stock futures stay mildly bid. Coronavirus updates, stimulus news and Fedspeak can entertain traders but all eyes on ECB’s tapering decision.
Buyer’s taking the pair higher today The USDCAD has been stepping higher today, and in the process has been able to extend above overhead technical resistance levels. The last break higher has taken the price above its 50% midpoint of the range since August 27 and the 200 hour moving average at 1.25933. The break above
Today is the first day without extra unemployment benefits in the US The market is in the mood to buy US dollars as New York and Toronto return from long weekends. That’s weighing on commodity prices as well and adding a negative mood to markets. The dollar has extended to fresh highs against the euro
Despite the Russian state maintaining a mostly unfriendly stance on cryptocurrencies like Bitcoin (BTC), a major state-backed museum is benefiting from the industry by raising hundreds of thousands of dollars with nonfungible tokens, or NFTs. The Russian State Hermitage Museum, the largest museum in the world, has finished its first NFT auction on the NFT
New Delhi: Gold in the national capital on Tuesday fell by Rs 37 to Rs 46,417 per 10 gram amid weak precious metal prices in the international market, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,454 per 10 grams. Silver also tumbled Rs 332 to Rs 63,612
Risk sentiment turns a bit weaker today in the stock markets. But benchmark European and US yields are staging a strong rally. In the currency markets, Aussie is sold off is in delayed reaction to RBA’s dovish tapering, but Canadian is follow closely with selloff in oil price. Sterling is also falling in European crosses,
Federal Reserve Chairman Jerome Powell indicated Friday that the central bank is likely to begin withdrawing some of its easy-money policies before the end of the year, though he still sees interest rate hikes off in the distance. In a much-anticipated speech as part of the Fed’s annual Jackson Hole symposium, Powell said the economy
Silver struggled to capitalize on last week’s bullish breakout momentum through a trading range. The formation of an ascending trend channel supports prospects for additional near-term gains. The emergence of dip-buying adds credence to the positive outlook and favours bullish traders. Silver attracted some buying near the $24.20 resistance breakpoint and has now trimmed a
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Dollar slightly ahead but ranges are still relatively narrow The greenback is recouping some losses from Friday to start the new week but so far the moves in the major currencies space are still rather unexceptional. The antipodeans are the notable laggards for now but AUD/USD is keeping within a 30 pips range and is
George Soros writing in the Wall Street Journal, link here (may be gated) Says BlackRock … appears to misunderstand President Xi Jinping’s China. there is an enormous crisis brewing in China’s real-estate market. … The president recently launched his “Common Prosperity” program, which is a fundamental change in direction. It seeks to reduce inequality by distributing
Ravindra RaoMCX Gold futures surged higher on Friday following a weaker than expected US jobs report. Having hit the key resistance level at Rs 47,600 (200-DEMA), a breakthrough of the 200-DEMA would push it further higher towards the previous top at Rs 47,750, followed by Rs 47,900. Meanwhile, the bullish crossover of 8-and 50-DEMA has
The pace of asset purchases in the Pandemic Emergency Purchase Program (PEPP) in 4Q21 is the focus of this week’s ECB meeting. Following hawkish comments from some council members, especially chief economist Philiip Lane, hopes that an announcement related to reduction in purchases would be made at the upcoming meeting have increased. The policy rates
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