Latest news with #FHFAHousePriceIndex
&w=3840&q=100)
Business Standard
28-05-2025
- Business
- Business Standard
Gold prices may correct further; check support levels to buy the dips
Spot gold may test the support zone of $3,250-$3,257 (₹93,700-₹93,950). Downside from current level may be limited though. Praveen Singh Mumbai Gold – May correct further Gold performance: Spot gold prices fell for a second consecutive time on May 27 as easing trade tensions, following US President Donald Trump delaying proposed 50 per cent tariff on Europe, boosted risk appetite. Further, speculations that Japan will try to cap rise in long-term yields. The Japanese Finance Ministry sent a questionnaire to market participants regarding appropriate issuance amounts for government bonds. It is to be noted that Japan's long-term yields soared to record highs last week after a sale of 20-year debt got the weakest demand in more than a decade. Decline in yields globally supported risk assets and weighed on precious metals in turn. On May 27, spot gold was changing hands at $3,295, down 1.43 per cent. The yellow metal traded between $3,285 and $3,250 during the day. MCX gold (June), meanwhile, was at ₹95,047, down around 0.94 per cent. US Dollar Index and yields: 10-year US Treasury yields were at 4.43 per cent, down nearly 1.8 per cent on Tuesday, as global yields fell. Thirty-year US yields fell nearly 2 per cent to 4.93 per cent, moving back below the 5-per cent mark after three days. The US Dollar Index, at 99.54, was up around 0.6 per cent on the day. Data roundup: US data released on Tuesday were largely positive for the US Dollar as durable goods orders (April prel.) came in at -6.3 per cent that beat the forecast of -7.8 per cent. Similarly, durables, ex-transport, came at 0.2 per cent and topped the estimate of 0 per cent. However, prior data were revised lower. FHFA House Price Index rose 0.1 per cent M-o-M in March, which trailed the forecast of 0.1 per cent. Conference Board Consumer Confidence (May) rose 98, the highest since February and topped the median estimate of 87.10. US consumer confidence rebounded from a near five-year low on improving economic outlook amid tariff truce talks. Upcoming data: Traders will look forward to FOMC minutes (May 7 meeting). That apart, today's Richmond Fed manufacturing Index (May) and Dallas Fed Services Activity (May) will be released in the US today. However, major focus will be on the US GDP (Q1 secondary reading), personal consumption (Q1 secondary reading), and weekly job data to be released on May 29. China's gold imports rose to an 11-month high: China imported 127.5 metric tonnes of gold in April -- an 11-month high. China gold import was up 73 per cent M-o-M despite high prices. Swiss gold exports decline: Gold ETF: Total known global gold ETF holdings fell to 87.851MOz, lowest since April 8, as ETFs saw outflows for the fifth straight week. Nonetheless, holdings are up around 6% YTD. Gold Outlook: Reduced safe haven demand and strong US Conference Board Consumer Confidence data amid stabilising yields are likely to lead to further correction in gold prices unless trade concerns resurface. ETF outflows and a firmer Dollar can boost the downside pressure. Spot gold may test the support zone of $3,250-$3,257 (₹93,700-₹93,950). Downside from current level may be limited though. Resistance is at $3,325 (₹95,900)/$3,350 (₹96,600).
&w=3840&q=100)
Business Standard
28-05-2025
- Business
- Business Standard
Will Silver prices fall more? Check outlook, key levels & trading strategy
Silver: Buy the dips with stop-loss below $32.50 Silver Performance: Spot silver declined for the second consecutive day on May 27 amid easing trade tensions following US President Donald Trump's delay in proposed 50 per cent tariff on Europe from June 1 to July 9. Risk appetite was boosted further on speculation that Japan will try to cap rise in long-term yields. The Japanese Finance Ministry sent a questionnaire to market participants regarding appropriate issuance amounts for government bonds. It is to be noted that Japan's long-term yields soared to record highs last week after a sale of 20-year debt got the weakest demand in more than a decade. Decline in yields globally supported risk assets and weighed on precious metals in turn. US Dollar Index and yields: 10-year US Treasury yields were at 4.43 per cent, down nearly 1.8 per cent on Tuesday, as global yields fell. Thirty-year US yields fell nearly 2 per cent to 4.93 per cent, moving back below the 5-per cent mark after three days. The US Dollar Index, at 99.54, was up around 0.6 per cent on the day. Data roundup: US data released on Tuesday were largely positive for the US Dollar as durable goods orders (April prel.) came in at -6.3 per cent that beat the forecast of -7.8 per cent. Similarly, durables, ex-transport, came at 0.2 per cent and topped the estimate of 0 per cent. However, prior data were revised lower. FHFA House Price Index rose 0.1 per cent M-o-M in March, which trailed the forecast of 0.1 per cent. Conference Board Consumer Confidence (May) rose 98, the highest since February and topped the median estimate of 87.10. US consumer confidence rebounded from a near five-year low on improving economic outlook amid tariff truce talks. Upcoming data: Traders will look forward to FOMC minutes (May 7 meeting). That apart, today's Richmond Fed manufacturing Index (May) and Dallas Fed Services Activity (May) will be released in the US today. However, major focus will be on the US GDP (Q1 secondary reading), personal consumption (Q1 secondary reading), and weekly job data to be released on May 29. Silver ETF holdings: Total known global silver ETF holdings at 740.63MOz are currently at the highest level since November 2024 as ETFs recorded a net inflow of around 8MOz in the last two weeks. Silver ETF holdings are up 3.33 per cent YTD, which is an encouraging sign. Silver Jewellery demand: As per Silver Institute, silver jewellery demand grew by 3 per cent to 208.7 million ounces in 2024 on pickup in India, driven by an import duty cut, a healthy rural economy, and the ongoing rise in purities. As per a Silver Institute survey of US jewellery retailers, 53 per cent retailers reported marginal increase in silver sales over the last survey period in 2022 as silver jewellery maintained the best margin in holiday season. Affordability emerged as the best reason behind silver jewellery demand. COMEX silver inventory: Presently, COMEX silver inventory stands at 496.695MOz, down around 1.8 per cent. from the record high level of 505 MOz recorded on May 12. CFTC data: Money managers boosted their bullish bets to 3-week high in the week ending May 20. Short-only total rose to the highest in seven weeks. Silver Outlook: Improvement in risk appetite due to President Trump delaying European tariffs and stabilising bond yields are likely to support the metal. However, reduced safe demand will cap the gains. Spot silver is expected to trade between $32.50 (₹95,500) and $33.50 (₹98,500) in the near-term. It is advisable to buy the dips as ETF inflows are turning encouraging.
Express Tribune
24-02-2025
- Business
- Express Tribune
What to expect in global markets: inflation data, earnings, and key reports
Listen to article This week, global markets will focus on key economic data, inflation indicators, and corporate earnings reports. Highlighted events include the release of the Personal Consumption Expenditures (PCE) inflation data, revisions to US GDP, updates on consumer confidence, housing data, and earnings from major global companies such as Nvidia, Salesforce, Lowe's, and Home Depot. Wednesday will see Nvidia's earnings report, its first since challenges from China's DeepSeek, a tech company whose AI model raised concerns about AI development costs. Other significant reports will come from Salesforce, Lowe's, Home Depot, and Stellantis, all major players in their sectors. On Friday, the PCE index will offer a critical measure of inflation, which the US. Federal Reserve is watching closely as it looks for signs of inflationary trends before making any further interest rate decisions. Market participants will also focus on GDP data, housing market updates, and the U.S. trade balance. Key Events This Week: Monday, Feb. 24 Earnings from Oneok (OKE) and Public Storage (PSA) Tuesday, Feb. 25 FHFA House Price Index (Q4 2024) S&P Case-Shiller Home Price Index (December) Consumer Confidence (February) Remarks by Dallas Fed President Lorie Logan and Richmond Fed President Tom Barkin Earnings reports from Home Depot, Intuit, Bank of Montreal, and others Wednesday, Feb. 26 New Home Sales (January) Atlanta Fed President Raphael Bostic to speak Earnings from Nvidia, Salesforce, Lowe's, Stellantis, and more Thursday, Feb. 27 Initial Jobless Claims (Week ending Feb. 22) Durable Goods Orders (January) Revised GDP Data (Q4) Pending Home Sales (January) Remarks from Cleveland Fed President Beth Hammack and Philadelphia Fed President Patrick Harker Earnings from Dell Technologies, Autodesk, and others Friday, Feb. 28 PCE Price Index (January) Advance Trade Balance (January) Chicago Business Barometer (February) Remarks from Chicago Fed President Austan Goolsbee PCE Inflation and GDP Data in Focus The PCE inflation data, scheduled for Friday, will provide a clearer picture of inflation's trajectory. The Federal Reserve is monitoring this data closely, as higher-than-expected inflation has impacted economic policies in recent months. The consumer confidence report on Tuesday will also provide valuable insight into public sentiment regarding inflation, a key factor in future price increases. Revisions to US GDP data on Thursday will provide further clarity on economic growth in the fourth quarter. The initial report showed a 2.3% annual growth rate, slightly below expectations, and investors will be looking for any revisions that may affect economic outlooks. Earnings Reports from Major Companies Earnings reports from top companies will provide crucial insights into the performance of different sectors. Nvidia, which has seen significant growth in its data center division, will be one of the most watched, as it faces pressure from challenges in AI technology development. Salesforce is also expected to report strong earnings, benefiting from its cloud services and AI-driven products. Retailers like Home Depot and Lowe's will be in the spotlight this week, as analysts gauge the impact of a slowing housing market on consumer spending. The earnings report from Stellantis, the parent company of Jeep, will be closely watched after a drop in vehicle shipments in recent months. Additionally, luxury electric vehicle maker Lucid Group is expected to report earnings, while several Canadian banks, including Royal Bank of Canada and Toronto Dominion Bank, will also release their financial results. Housing Market Data Key housing data will be released throughout the week, with updates on home prices, new home sales, and pending home sales. These reports will provide further insights into the state of the housing market, which remains under pressure due to rising interest rates and inflation. This week's combination of inflation data, earnings reports, and economic indicators will be crucial for investors as they navigate ongoing uncertainties in the global economy.
