Huge reversal today Natural gas prices were already coming down when Putin hinted at more supply coming from Russia. There’s an open question about whether Russia can even supply the gas and whether it has enough in domestic storage but the reversal today could certainly change the psychology of the market. I don’t know what
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New Delhi: Gold in the national capital on Wednesday plunged Rs 226 to Rs 45,618 per 10 grams in line with a decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,844 per 10 grams. Silver also tumbled Rs 462 to Rs 59,341
Companies shook off worries over the Covid delta variant and hired at a faster-than-expected pace in September, according to a report Wednesday from payroll processing firm ADP. Private jobs rose by 568,000 for the month, better than the Dow Jones estimate from economists of 425,000 and ahead of the downwardly revised 340,000 reading in August.
Gold managed to attract some dip-buying on Wednesday amid the risk-off impulse. A stronger USD capped any meaningful upside for the dollar-denominated commodity. Investors also seemed reluctant to place aggressive bets ahead of Friday’s NFP report. Gold Price Forecast: Why XAU/USD looks vulnerable below $1750? Gold reversed an intraday dip to multi-day lows and moved
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New Zealand Dollar trades mildly lower together with commodity currencies in quiet Asian session. Overall markets are mixed as Japan and Hong Kong stocks head lower, decoupling from the strong rebound in the US overnight. Dollar appears to be supported by the rise in treasury yields, with 10-year yield back above 1.5 handle. Yen is
Gary Gensler, the head of the U.S. The Securities and Exchange Commission has confirmed that his agency does not have the authority or intention to ban cryptocurrency. While responding to questions during an Oct. 5 House Committee on Financial Services hearing, Gensler emphasized that prohibiting crypto does not fall within the SEC’s mandate, stating: “That
NASDAQ recoups 1.25% The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day. Some highlights: Dow industrial average recouped all of the
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LONDON/MOSCOW: WhatsApp‘s nearly six-hour long outage on Monday hit trading of assets from cryptocurrencies to Russian oil, market players said, although a quick shift to alternative platforms such as Telegram limited severe disruption. Despite many financial institutions discouraging employees from using messaging services such as WhatsApp and other Facebook platforms that went down on Monday,
The current spate of inflation won’t last and ultimately will fall below the Federal Reserve’s target, Chicago Fed President Charles Evans said Tuesday. While inflation by some measures is running at a 30-year high, Evans told CNBC that the supply chain bottlenecks and other issues will subside and price pressures will fade. “I’m comfortable in
USD/INR consolidates before the next push higher towards 75.00. The spot wavers inside a rising channel, awaiting a fresh impetus. Bullish RSI, crossover point to a test of the channel hurdle at 74.75. USD/INR is clinging onto the recent trading range around the midpoint of 74.00, having finished Tuesday almost unchanged despite a renewed upside
Market sentiment is stable today, with European index trading mildly higher while US futures point to a rebound. But overall direction remains rather unclear. Sterling is currently the stronger one, with additional help from buying against other European majors. Kiwi is also firmer, awaiting tomorrow’s RBNZ rate hike, followed by Dollar. On the other hand,
Modest gains after yesterday’s sharp declines The major US indices fell sharply yesterday with the NASDAQ leading the way to the downside (the index has been down six the last seven trading days). The NASDAQ fell by -2.14%. The S&P was down by -1.3% and the Dow shed -0.54%. Today, in the first few minutes of trading, the major indices are
US September service sector data from Markit Prelim was 54.4 Prior was 55.1 Composite 55.0 vs 54.5 prelim Cost pressures built for a second month running as input prices rose at a steep rate Prices composite 76.2 vs 76.3 prelim Business expectations regarding the outlook for activity over the coming 12 months improved during September
New Delhi: Gold in the national capital on Tuesday rose by Rs 269 to Rs 45,766 per 10 grams amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,497 per 10 grams. Silver also jumped Rs 630 to Rs 59,704 per kilogram from Rs 59,074 per