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Gold ends with gains for third straight week as US inflation falls, economic concerns grow
The US yields and the US Dollar Index slumped to multi-week lows on the subdued US CPI inflation data (June). The ten-year US yields slid 0.60% on Friday as the yields fell around 2% on the week. The two-year yields, more sensitive to monetary policy, were down nearly 3% on the week. The US Dollar Index was down about 0.80% this week.
Ad hoc chair of Kashmir chapter of J&K High Court Bar arrested under PSA
Senior advocate NA Ronga, ad hoc chairman of the J&K High Court Bar Association's Kashmir chapter, was arrested from his home in Srinagar's Nishat area around 1:10 am on Thursday. He has been booked under the Public Safety Act (PSA) and transferred to Kot Bhalwal jail in Jammu, 250 km away.
'Biden hasn't met me in 2 years…': Fed chair Powell as Lawler enquires about US President's health
Federal Reserve Chair Jerome Powell on Wednesday said he had not noticed any cognitive decline in President Joe Biden in his interactions with him, although Powell said he has not done more than briefly shake Biden's hand since 2022. "In your meetings ...
Gold holds ground as traders brace for US inflation data
Gold prices rose for the third session with investors awaiting U.S. inflation data for potential Fed rate cuts. Spot gold at $2,375.70. CPI, PPI may support rate cuts. Edward Meir sees possible further rise. FedWatch tool predicts rate cuts, discussed by Powell and House. Silver up 0.4%, platinum at $991.80, palladium at $992.30. Gold shines with low inflation.
Fed would not wait for 2% inflation to consider rate cut: Powell
The US central bank will not want to wait for inflation to cool to its two percent target before considering a rate cut, Federal Reserve Chair Jerome Powell told lawmakers Wednesday. On Wednesday, Powell told lawmakers that he is not yet prepared to express confidence that inflation is moving sustainably down to two percent.
Health Minister JP Nadda chairs first executive committee meeting of National One Health Mission
Health Minister leads executive committee meeting for National One Health Mission to enhance disease control and pandemic preparedness. Mission aims to integrate 'One Health' approach for comprehensive health solutions.
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Gold prices steady with spotlight on US inflation print
Gold prices remain stable as investors await U.S. inflation data to assess Federal Reserve's interest rate strategy. Fed Chair Powell indicates potential for looser monetary policy. Market attention shifts to upcoming CPI data. Global gold ETFs experience increased inflows.
US economy no longer overheated, Fed's Powell tells Congress
Powell told lawmakers bluntly that "today I’m not going to be sending any signals about the timing of any future actions" on interest rates, as he was quizzed by Democrats about the risks to the job market and by Republicans about the pain to households of inflation that remains above the central bank's 2% target.
US economy no longer overheated, Fed's Powell tells Congress
Fed Chair Jerome Powell informed Congress that the U.S. job market has cooled from its pandemic extremes, indicating a stronger case for potential interest rate cuts. Powell emphasized the balance of risks the Fed now faces, highlighting recent improvements in inflation and economic conditions. Despite not signaling specific future actions, analysts suggest Powell's remarks hint at a possible rate cut as early as September. The Fed’s policy rate remains at 5.25% to 5.5% since July 2023. Powell’s semiannual Senate testimony will be followed by a House hearing on Wednesday.
Fed's Jerome Powell: "More good data" will "strengthen" case for rate cut
In comments that appeared to show increasing faith that inflation will return to the Fed's target, a requirement for easing monetary policy, Powell compared the lack of progress on that front in the first months of the year to recent improvement that has helped build the Fed's confidence that price pressures will continue to diminish.
Rupee ends flat, tracking rangebound Asian peers; Powell's testimony in focus
Indian rupee hovers near flat against US dollar as investors eagerly await Federal Reserve Chair's comments on interest rates.
Sensex rises over 200 pts, Nifty above 24,350 in hopes of dovish stance from Fed
Indian indices rose as markets expected dovish signals from U.S. Fed Chair Powell. Sensex up 223 points to 80,184, Nifty50 up 59 points. Key gainers included Maruti Suzuki, M&M, Adani Ports, while Tech Mahindra, JSW Steel fell. Soft inflation increased odds of U.S. rate cut to 74%. Century Textiles rose 4%. Budget, Q1 results closely watched.
Japan's Nikkei hits record high as chip-related shares track US peers
Japan's Nikkei reached a record high as chip-related stocks followed U.S. peers. Investors anticipate Powell's speech for rate insights. Market sees increased likelihood of rate cut by September. Tokyo Electron and Advantest lead gains while bank stocks dip. Topix up 0.62% amid ETF payout concerns.
Dollar droops before Powell testimony; euro weathers France uncertainty
The U.S. dollar stayed near a multi-week low post-payrolls report, with traders awaiting Federal Reserve Chair Jerome Powell's testimony. The euro steadied despite French political gridlock. The dollar index hit 104.99. Thursday's consumer price data remains crucial. NAB's Ray Attrill highlights investor sentiment amid uncertainties. September rate cut expectations influence the market.
Gold drops more than 1% as risk appetite grows
Gold prices dropped more than 1% due to a surge in equities and profit-taking by investors following a recent rally. Speculation on U.S. Federal Reserve rate cuts continues to influence the market. Stay informed on upcoming economic indicators and central bank decisions.
Did movie mogul Jeffrey Katzenberg hide Joe Biden's age and health issues? Why is Hollywood angry at him? Details here
Hollywood movie mogul Jeffrey Katzenberg has insisted that Joe Biden is “fine” even though there were apparent signs of cognitive decline that became apparent during last week’s presidential debate.
Third Eye: Race for Chair, the visibility factor and too much of security at Parliament irks MPs
Enhanced Parliament security has irked MPs too apart from journalists and visitors. Some MPs have been asked questions by security staff such as where they wish to go or who they plan to meet.
US weekly jobless claims rise labor market slows
The labor market shows signs of easing as unemployment benefits claims increase. Layoffs rise due to interest rates impacting demand, and challenges in seasonal data adjustments persist. Market anticipates Fed's potential rate cuts. Job cuts decrease in June, but higher than last year. Nonfarm payrolls data may reveal job increase. Job openings ratio remains steady, while Fed deliberates policy changes post-hikes. Continuing claims rise due to policy effects.
US stocks back at records while European bourses retreat
Wall Street equity indices advanced to fresh records Tuesday as markets embraced commentary from Federal Reserve Chair Jerome Powell, while European bourses retreated on unease about upcoming French elections. But bourses in Paris and Frankfurt both retreated amid concerns about the potential economic fallout should the far right win power in France in weekend elections.
Fed's Powell says more evidence of falling inflation needed before rate cuts
The Fed has kept its benchmark policy interest rate steady in the 5.25%-5.5% range since last July, but officials are debating when to ease monetary policy as inflation edges back to the central bank's 2% target. Inflation is still more than half a percentage point above that target, according to the Fed's preferred personal consumption expenditures price index, and was described as "elevated" in the central bank's June 12 policy statement.
Gold ekes out gains as investors await US jobs data
Gold prices edged higher on Monday as a lower dollar prompted some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve.
Rajya Sabha Chair expunges Kharge's remarks on PM poll speeches, RSS
During the Rajya Sabha debate on the Motion of Thanks to the President's address, Leader of Opposition Mallikarjun Kharge criticized Prime Minister Modi and the RSS, leading to many of his remarks being expunged by Chairman Jagdeep Dhankhar. Dhankhar defended the RSS, highlighting its nationalistic work, and rejected Kharge’s use of newspaper clippings to support his claims. The session was marked by interruptions and strong objections from the BJP members
Murphy by Samuel Beckett
Murphy sat in a mew in West Brompton for six months, facing the possibility of relocating. He sat naked in his undressed teak rocking-chair, isolated from the sun. A cuckoo-clock echoed a street-cry saying Quid pro quo. The mew was condemned, and he would soon have to adjust to new surroundings.
Suzlon's Girish Tanti elected as Chair of GWEC India
The position plays a key role in driving GWEC India's work with national and state governments that assist efforts for building the right momentum and establishing policy frameworks to ensure India delivers on its wind energy and supply chain potential, both onshore and offshore, GWEC said.
Fed's Goolsbee: 'More months' of good inflation data needed
Federal Reserve Bank of Chicago President Austan Goolsbee expressed relief over cooling inflation in May but prefers more months of data before cutting interest rates.
10 Best Baby Rockers and Bouncers for Unmatched Comfort for Newborns
Explore the top 10 baby rockers and bouncers that offer comfort, safety, and entertainment for your little one. Our curated list highlights features, benefits, and price points, making it easier for parents to choose the perfect fit for their baby's needs. Find the ideal option to soothe, amuse, and support your baby effortlessly.
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