After a hawkish guidance for a 2025 rate cut by the US Fed, Gold February futures contracts at MCX opened lower by nearly 1% on Thursday at Rs 75,941 per 10 gram, which is down by Rs 712 while silver March futures contracts were trading at Rs 88,261/kg, down by 2.3% or Rs 2,119. On
Both Sterling and Japanese yen are among the weakest-performing currencies today, following their respective central banks meetings. BoE left rates unchanged at 4.75%, but the surprise came from a dovish shift in the MPC, with three members voting for a cut. While BoE reiterated that a “gradual approach” to easing remains appropriate, rising concerns over
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Gold and silver prices slumped in the national capital on Friday, with the precious metal plummeting to below the Rs 80,000-mark due to heavy selling by jewellers and stockists, according to the All India Sarafa Association. Besides, a weak trend in the international markets weighed down heavily on the bullion prices, traders said. The precious
Dollar ended as the strongest performer last week, boosted by a surge in U.S. Treasury yields following persistent inflation data. Despite expectations of another 25bps rate cut at the upcoming FOMC meeting, stubborn price pressures are likely to slow the pace of policy easing next year. Adding to the caution, inflation uncertainties under the incoming
The price of gold is moving higher and near highs for the day. The price is up $24.61 or 0.92% at $2718.36. The high for the day has reached $2721.16. The move higher is up testing the high from November 25 which peaked at $2721.41 jut above the high for the day. Get above that
A Fed rate cut next week is all but a given now after the US CPI report here. But before we get to that, the central bank bonanza will be making a couple of stops in Europe following the Bank of Canada decision yesterday. The SNB and ECB are the two main events to watch
The Australian Dollar appreciates following the domestic mixed labor market. Australia’s Employment Change rose by 35,600 in November, exceeding the previous 12,100 and the expected 25,000 readings. Traders still expect the Fed to proceed with a quarter-point rate cut in December following the latest US CPI report. The Australian Dollar (AUD) halts its two days
OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization of Petroleum Exporting Countries chopped projections for consumption growth in 2024 by 210,000 barrels a day to 1.6 million barrels
Dollar showed minimal reaction, other than some initial jitters, to November’s US CPI data, holding steady within its range as the report largely aligned with expectations. Headline inflation edged up, while core inflation remained flat, refusing to trend lower. With no surprise, the data cleared the way for a 25bps rate cut by Fed next
Homes under construction in Englewood Cliffs, New Jersey on Nov. 19th, 2024. Adam Jeffery | CNBC If President-elect Donald Trump is going to push inflation back down to a more tolerable level, he will need help from housing costs, an area where federal policymakers have only a limited amount of influence. The November consumer price
In this article M Follow your favorite stocksCREATE FREE ACCOUNT A Macy’s store decorated for the holidays in San Francisco, California, US, on Wednesday, Nov. 13, 2024. David Paul Morris | Bloomberg | Getty Images Macy’s on Wednesday said it has wrapped up an investigation into an employee who intentionally hid about $151 million of
Fundamental Overview The Nasdaq managed to extend the rally into a new all-time high recently. The conditions for further upside in the index remain in place. In fact, Trump’s policies will be a positive driver for growth in 2025 and with the Fed remaining in an easing cycle, growth should remain positive and might even
Data released Saturday by the People’s Bank of China revealed that it has resumed buying gold. It was the largest official buyer in the world in 2023 as it looked to be headed on a multi-year effort to diversify out of US dollars. That changed this year as officials seemingly became price sensitive as buying
NZD/JPY fell to 87.48 on Friday, extending its weekly losses. Indicators are dangerously close to oversold conditions, signaling a potential correction. Bearish momentum remains intact, with risks of further downside. The NZD/JPY pair extended its decline on Friday, falling to 87.48 as selling pressure intensified. This marks a continuation of the bearish trend that began
Spot gold closed with a gain of $1 at $2633 on Friday. The metal was down nearly 0.40% this week, its second straight weekly loss. It traded in the range of $2613 (December 6) to $2657 (December 4). Data roundup The US employers added 227K jobs, beating the forecast of 220K, as with October data
Dollar came under pressure against European currencies following release of US non-farm payroll report, despite the data being robust overall. In contrast, the greenback held firm against Yen and Aussie, while advancing against Loonie, with the latter pressured by surprisingly large increase in Canada’s unemployment rate, signaling sharp loosening in its labor market. The NFP
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