PRODUCER PRICES DATA
Oil prices on track for fourth straight week of gains
Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia's Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.
Gold prices heads for quarterly rise; spotlight on inflation data
In the world of gold investment, tracking prices, inflation data, and the Federal Reserve's stance is key. Market dynamics shift based on factors like GDP estimates, equipment spending, and spot silver prices. Understanding these nuances is crucial for making informed investment decisions in a constantly evolving economic environment.
Aluminium prices rise on supply concerns. Will the rally sustain?
Aluminium prices surged to two-year highs driven by supply constraints in China and demand optimism. The domestic market followed suit, gaining over 15% this year despite a slide in other industrial metals.
Dollar gains on hawkish Fed, even as inflation cools
The dollar strengthened despite weak U.S. producer price data for May, following a hawkish Federal Reserve meeting. U.S. producer prices fell unexpectedly in May, with core prices remaining flat. The Federal Reserve's stance on interest rates also influenced the dollar's performance.
Gold trims decline after US producer prices data
Gold prices trimmed losses on Thursday after weaker-than-expected U.S. producer inflation data raised hopes for two rate cuts in 2024, even as the Federal Reserve's projections called for just one cut this year.
Nasdaq hits fresh record high on soft producer inflation data, chip strength
Nasdaq-listed Broadcom surged 14.3% to a record high after the chipmaker raised its revenue forecast for semiconductors used in artificial intelligence (AI) technology. Additionally, the company announced a 10-for-1 forward stock split. Meanwhile, AI chip leader Nvidia saw a 3.3% increase, contributing to a 1.5% rise in the Philadelphia SE Semiconductor Index, which reached an all-time peak.
US wholesale prices dropped in May, adding to evidence that inflation pressures are cooling
The Labor Department reported Thursday that its producer price index - which tracks inflation before it reaches consumers - declined 0.2% from April to May after rising 0.5% the month before. Measured from a year earlier, wholesale prices were up 2.2% in May. Excluding volatile food and energy prices, so-called core producer prices were unchanged from April and up 2.3% from May 2023.
Oil prices down on demand woes as markets await U.S crude stockpiles data
Oil prices down on Thursday as markets await U.S. crude oil stockpiles data. Brent futures at $83.52 a barrel, U.S. WIT crude at $79.19. API figures show inventory changes.
Gold prices inch lower as US rate cut bets cool
Gold prices eased as traders reduced rate cut expectations by the U.S. Federal Reserve, awaiting U.S. inflation data this week.
Oil rises as major producers expected to keep output cuts in place
Oil prices rose on expectations of production cuts by major producers at a meeting this Sunday as fuel consumption is set to increase with the start of the peak summer demand season.
US stocks edge up after 'mixed' producer inflation data, all eyes on CPI
Sticky inflation and persistent labour market strength have prompted financial markets and most economists to push back expectations for an initial Fed interest rate cut to September, from March seen at the start of the year.
Gold Price Today: Gold prices rise by Rs 1,350 in 10 days to Rs 72,010/ 10 grams, silver rates shoots above Rs 85,000 mark
Gold prices on MCX surged Rs 1,347 in 10 days, opening at Rs 72,010/10 grams today, up 0.22% or Rs 155. Silver also rose. Despite challenges, gold soared 13% this year.
Gold prices flat ahead of key US inflation data
Americans last month braced for generally higher inflation pressures over the next few years and accelerating home price increases, according to a report by the Federal Reserve Bank of New York.
Dollar drifts as traders eye US inflation data; frail yen in focus
The currency market has been sedate this week, with investors seeking to gauge what the path the Federal Reserve will take this year in the wake of recent softer-than-expected U.S. labour market data and comments from central bankers.
Brent hovers above $83 as inflation data takes centre stage
Though prices were supported by a few factors last week, including a lack of progress in the latest round of negotiations to halt hostilities in Gaza, economic factors are back in the spotlight.
Dollar slips as market awaits key inflation data
The dollar slid versus most major currencies on Monday amid expectations key U.S. data this week will show a slowing pace of inflation and consumer spending at a time of recovering European economies that also could be bolstered by interest rate cuts.
Europe's STOXX 600 opens higher as travel and leisure sector shines
Europe's STOXX 600 index edged higher on Monday as travel and leisure stocks led sectoral gains, with this week's key U.S. inflation prints and a slew of economic data from the euro zone set to test the benchmark index's record-breaking run.
Currency market calm as US inflation data holds focus this week
Markets have priced in a 61.2% chance of some degree of rate reductions to begin at the Fed's September meeting, with about 50 basis points of cuts in total expected, CME's FedWatch Tool showed.
Wall Street closes up, another weekly gain ahead of inflation data
Atlanta Fed President Raphael Bostic acknowledged recent clues the economy is slowing, but added the timing of rate cuts remains uncertain.
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