Gold prices rose in India on Friday, according to data compiled by FXStreet. The price for Gold stood at 6,617.76 Indian Rupees (INR) per gram, up compared with the INR 6,585.70 it cost on Thursday. The price for Gold increased to INR 77,189.78 per tola from INR 76,816.43 per tola a day earlier. Unit measure
Month: August 2024
Major currencies are keeping steadier so far today, with light changes overall. Even USD/JPY is “only” seeing a roughly 100 pips range, keeping flattish now near 149.40. The pair continues to see volatile swings in the last few sessions, not least with 10-year yields in the US falling below 4%. The bigger story is the
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 your initial investment; do not
GBP/JPY eased to 190.30 on Thursday following an expected BoE rate cut. The BoE trimmed interest rates by a quarter-point, while BoJ raised. After a structural shift in the Guppy’s rate differential, the GBP is declining. The Guppy declined to 190.30 on Thursday after a downward shift in the Bank of England’s (BoE) main reference
The old adage is that if the US catches a cold, Canada gets the flu. The market is certainly sending warning signals about the US economy as yields plunge but USD/CAD hasn’t made a decisive move yet. But that moment might not be far off as the pair threatens a trio of highs from the
The market is getting a dose of bad (weak) economic data today. In the past when inflation was higher, bad was good as traders saw it as a slowing of the economy and with it inflation. WIth inflation more tame / lower, and the Fed more focused on both jobs AND inflation, the deluge of
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 your initial investment; do not
Gold price gains as Fed’s signals rate cuts and Middle East woes escalate. The Fed acknowledged that policymakers have gained greater confidence due to a slowdown in price pressures in the second quarter. Investors await the US ISM Manufacturing PMI and the NFP data for July. Gold price (XAU/USD) rebounds to near an almost two-week high at $2,458.50 in
Traders and investors organize their entire lives around the economic data calendar. One of the most anticipated events is the Fed’s meetings because their outcomes determine the future of the global economy. This might sound dramatic, but it’s true. Any changes in one of the world’s leading economies can trigger a chain reaction across global
The Indian Rupee loses ground in Thursday’s Asian session. Indian HSBC Manufacturing PMI came in weaker than expected, declining to 58.1 in July vs. 58.3 prior. India’s outflows, renewed USD demand and higher crude oil prices might undermine the INR, while Fed’s dovish could limit losses. Market players await the US Manufacturing PMI and weekly
The dollar is still reeling from the more dovish Fed yesterday, especially Powell’s press conference. September looks to be a done deal barring any major surprises in the economy in the next six weeks. USD/JPY in particular is feeling the pinch after the BOJ hiked rates yesterday, with the pair settling below 150.00 currently. The