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Gold price surge on weaker-than-expected US jobs report
The US services sector faced an unexpected contraction in the last quarter, with the ISM services gauge dropping to 48.80, marking the fastest pace of decline in four years. This contrasts with the S&P Global US Services Index, which reached its highest level since April 2022 at 55.30.
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.
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.
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.
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 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 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.
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