NON FARM PAYROLLS
Dollar at three-week lows; pound takes UK election in stride
The US dollar nears three-week lows awaiting payrolls data impact, while the pound remains strong amid UK election expectations. Euro stable pre-French election. Yen rebounds cautiously. Australian dollar near six-month highs. Bitcoin slightly down.
Gold lingers near 2-week high as focus shifts to US payrolls
Gold prices remain steady near a two-week high following weaker US economic data, leading to speculation of potential interest rate cuts. Investors are closely watching Friday's non-farm payrolls data for further guidance. The market awaits further developments amidst the ongoing economic uncertainty.
GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Equity markets saw slight gains and traded within a limited range on Thursday. Analysts noted that the release of preliminary business updates ahead of quarterly reports is boosting confidence in strong Q1 earnings.
Dollar clings to eight-week low ahead of payrolls test
The dollar's performance is influenced by ECB President's stance on easing, Bank of Japan's upcoming policy decision, and foreign exchange intervention concerns.
S&P 500, Nasdaq close slightly down ahead of US payrolls data
The S&P 500 and Nasdaq composite dipped from record highs ahead of key labor market data. Nvidia fell, while utilities and industrials dragged the S&P 500 lower. Investors await the U.S. nonfarm payrolls report, which may influence Federal Reserve decisions.
Dollar hovers near 8-week low as payrolls test looms
The U.S. dollar index remained stable near 104.13, hinting at a potential 0.5% decline for the week due to expectations of Fed rate cuts. Traders anticipate a softer non-farm payrolls report, possibly below the 185,000 forecast.
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Gold prices drift higher ahead of US payrolls data
Gold prices rose on Thursday as investors awaited U.S. non-farm payrolls data to determine potential interest rate cuts.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
Gold firms on Fed rate cut hopes; investors await more US data
Gold prices edged higher on Monday as signs of cooling U.S. inflation lifted hopes for interest rate cuts from the Federal Reserve this year, while traders awaited a slew of U.S. economic data due this week.
Gold flat ahead of US payrolls data, set for 2nd weekly drop
The U.S. central bank held interest rates steady on Wednesday and indicated it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.
India government bond yields edge lower tracking US peers
Indian government bond yields ended lower on Thursday, as U.S. bond yields declined after commentary from Federal Reserve Chair Jerome Powell cemented hopes of a rate cut later this year, while investors awaited a key U.S. jobs data.
Gold at record levels as Powell says Fed cuts likely this year
Spot prices hit a record peak of $2,152.09 per ounce overnight on Wednesday, rallying for a sixth straight session.
Nasdaq outperforms on Alphabet boost, payrolls data in focus
The tech-heavy Nasdaq has outperformed peers this year, surging 36% on a rally in megacap stocks that has been powered by enthusiasm around the potential for AI. Growing hopes of a cut in interest rates next year have also improved sentiment.
Gold pauses after nine-session down streak ahead of US payrolls data
Data on Thursday showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September.
Gold Rate Today: Gold rangebound ahead of US payroll data. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities
The payroll data is an important indicator of which way the Federal Reserve could move. A strong jobs number could be antithetical to its plans to push a pause button. That could potentially strengthen the dollar, increasing the opportunity cost of holding the non-yielding bullion.
Asian shares rise as investor focus turns to US payrolls
Asian equities face challenging trading conditions on Friday," said market analyst Anderson Alves at ActivTrades, pointing to a risk-off environment after Fitch downgraded its rating of U.S. government by one notch earlier in the week.
Rupee sees biggest drop since March 14 on likely Fed hikes
The decision of the Organization of the Petroleum Exporting Countries (OPEC) to announce an oil production cut also hurt the rupee as importers rushed to lock in purchases of the dollar-denominated commodity.
Dollar holds steady after larger-than-expected rise in May payrolls
The US dollar was relatively unchanged in choppy trading after the release of May's non-farm payrolls report on Friday. Despite employment surging, so did unemployment. On a more positive note, payrolls in the public and private sector increased by 339,000 in May, smashing predictions. Before the US Labor Department released the data, the dollar was headed for its largest weekly fall since mid-January, following the view that the Federal Reserve will forgo an interest rate hike this month, which would reduce the greenback's appeal to non-US buyers.
Gold dips on stronger dollar after US payrolls data
Gold prices fell on Monday as the dollar firmed after the U.S. non-farm payrolls report pointed to a tight labour market and raised the odds of another rate hike by the Federal Reserve at its May policy meeting.
Nifty eyes 17,700! Why you should bet on small- & mid-caps in April, explains Anand James
'RBI’s pause on Thursday went a great deal towards ensuring that the week closed on a high. But the large gains made through the stop-start week raised the question of sustainability'
Dollar rises vs most currencies as US nonfarm payrolls loom
The dollar is fluctuating in response to the anticipation ahead of the US non-farm payrolls report, due out on Friday. Economists expect the payrolls to have grown by 239,000 in March following February’s gain of 311,000. While nominal job growth has been high of late, it was reported earlier this week that the services and manufacturing sectors of the US economy were experiencing a slowdown. With the US stock market closed for the Good Friday holiday, the payrolls report is likely to cause heightened volatility in the market.
Dollar edges higher ahead of non-farm payrolls data on Friday
The dour economic signs have strengthened the view that the Fed will reverse course on rate increases with traders hoping for more insight when Federal Reserve Bank of St. Louis President James Bullard speaks later on Thursday.
Gold slips on firmer dollar ahead of US payrolls data
Cleveland Federal Reserve Bank President Loretta Mester, however, said on Wednesday it was too early to know if the Fed would need to raise interest rates at its May policy meeting, even as she predicted rates will need to move higher.
Wall Street climbs as jobless claims rise, payrolls data in focus
Satisfactory rise in weekly jobless claims eases some rate-hike jitters. Key payrolls report, to be released shortly, will determine Fed's monetary policy path.
Gold gives up almost all of 2023 gains; higher rates, US non-farm payrolls data in focus
This is compared with peak fed funds rate of 4.9% seen during early February 2023. At the same time, expectations of rate cuts have also come down, with traders now pricing in less than 15 basis points of rate cuts in 2023, from almost 60 basis points a month ago.
What could be the path of future rate hikes? These two factors will decide
Monetary Policy Committee (MPC) members voted unanimously last week to increase the policy repo rate by 50 bps to 5.4%, taking it significantly higher than the pre-pandemic level of 5.15%. Now that a frontloaded policy tightening has been implemented, what might the path of future rate hikes look like? Two, somewhat opposing, factors are likely to shape this path.
Gold holds steady as investors focus on US jobs data
Gold held steady on Friday as investors stayed away from making big bets ahead of the U.S. non-farm payrolls report that is considered key to the Federal Reserve's stimulus taper timeline. Spot gold was steady at $1,755.83 per ounce by 0113 GMT, down about 0.3% so far in the week.
Gold edges down on firmer dollar, rising bond yields
Gold prices inched lower on Wednesday as a firmer dollar and rise in U.S. Treasury yields weighed on the precious metal's appeal, with investors focused on U.S. non-farm payrolls data due later this week. Spot gold fell 0.1% to $1,758.06 per ounce by 0108 GMT, while U.S. gold futures were 0.1% lower at $1,758.40.
Gold ticks up on softer dollar, doubts over early Fed taper
Prices had hit a 2-1/2-month high last week following a disappointing US non-farm payrolls data. A strong jobs recovery is crucial for the central bank to start withdrawing its stimulus measures.
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