News

The Fed has turned more hawkish at the June meeting. Besides significant upgrades in the GDP growth and inflation forecasts, the median dot plots now project two rate hikes in 2023, compared with no rate hike until 2024. At the press conference, Fed chair Jerome Powell indicated that the members have started talking about tapering.

Prepared remarks Well on our way toward our goal to helping people make it to the other side of the crisis and ensuring they were met by a robust recovery the pandemic was not the only problem, millions of people were running up against a series of long-term, structural economic challenges that undermine their ability

Domestic gold rates moved higher on Wednesday as equities retreated from record levels ahead of the release of the US central bank’s policy statement following a two-day meeting. Market participants keenly watched out for any signs of early tapering of stimulus in the world’s largest economy. MCX gold futures rose by Rs 140 to Rs

Dollar softens quite notably in early US session as markets await FOMC rate decision. Though, Swiss Franc and Euro appear to be slightly weaker. On the other hand, Kiwi and Aussie are strengthening mildly but Canadian Dollar shrugs off stronger than expected consumer inflation data. Sterling also firms up mildly earlier today, but lacks follow

Forex news for Asia trading on Wednesday 16 June 2021 There were some minor moves across major forex rates during the Asian session here today with some position-squaring (and opening!) continuing heading into Wednesday US Federal Reserve Federal Open Market Committee decision and Chair Powell’s press conference following. EUR/USD has ticked a few points lower

Gold prices on Tuesday fell for a third straight day, as an uptick in the dollar dented the safe-haven metal’s appeal, while investors awaited the U.S. Federal Reserve meeting for clues on the central bank’s monetary policy outlook. Spot gold was down 0.2% at $1,861.96 per ounce, as of 0224 GMT, after falling to its

Yen trades broadly overnight on strong risk appetite, with NASDAQ and S&P 500 closing at new record highs. And it remains generally soft in Asian session. Some selling in seen in Australian Dollar after RBA minutes, but loss is very limited. Other commodity currencies are indeed trying to firm up, which helps floor the Aussie.

S&P index and NASDAQ index closed at record levels yesterday The major US indices are opening with modest changes after the dump of US data. Recall yesterday the S&P and NASDAQ index both closed at record levels. The Dow industrial average was lower in trading yesterday. Today, the NASDAQ is opening up lower. The Dow

LONDON: Copper prices slid to seven-week lows on Tuesday as traders and funds cut bets on higher prices due to growing nervousness that top consumer China would soon move to curb further price rises. Benchmark copper on the London Metal Exchange was down 3.9 per cent at $9,587 a tonne in official trading. Prices of

Dollar jumps in early US session after strong, record making, PPI inflation data. The worse than expected retail sales and manufacturing data were shrugged off. Yen and Euro are following as next strongest for now. Sterling continues to be weighed down by delay in reopening and it’s trading and worst ones a long with commodity

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

NEW YORK: Oil prices rose on Monday, hitting their highest levels in more than two years, supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent rose 34 cents to $73.03 a barrel by 12:56 p.m. EDT (1656 GMT). Earlier in the session, it reached $73.64

We do not expect the Fed talk about tapering at this week’s meeting. Policymakers would likely hint more about it at the Jackson Hole symposium in August while a formal announcement would be made at the September FOMC meeting. Rather, we are more interested in its view on the rapid increase in both headline and

Canada manufacturing sales -2.1% versus -1.1% estimate Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Canada manufacturing sales for April manufacturing sales -2.1 versus -1.1% estimate prior month -3.5% Sales fell in 11 of 21 industries. Much of the decline was attributable to lower sales of transportation equipment

NEW DELHI: Gold in the national capital on Monday plunged Rs 464 to Rs 47,705 per 10 grams reflecting decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,169 per 10 gram. Silver also declined Rs 723 to Rs 70,420 per kg, from

The forex markets continue to be generally quiet today, stuck inside Friday’s range. Sterling is mildly lower on talks that UK Prime Minister Boris Johnson is going to delay easing of restrictions due to rise in the Delta variant infections. Yen is also trading lower together with Swiss Franc. Commodity currencies are generally firm, with

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

NEW DELHI: Soybean prices on Friday fell by Rs 29 to Rs 7,163 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for June delivery fell Rs 29, or 0.4 per cent, to Rs 7,163 per quintal with an open